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Committee supports returning Rivani lease amendment to commission with favorable recommendation
Summary
Developers seeking a 30‑year extension to the ground lease at 1691 Michigan Ave told the committee they plan a $50 million renovation to add office, rooftop restaurant and public benefits; staff and commissioners stressed performance‑linked extensions, parking protections and tangible Lincoln Road benefits.
Representatives for the property at 1691 Michigan Avenue presented a proposal April 1 seeking an amendment to the city ground lease to extend the term (a 30‑year extension was discussed) and enable roughly $50 million in private reinvestment.
Michael Larkin and Patrick Corey (representing Robert Rivani) described completed and prospective tenant activity and a two‑phase plan that…
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