A new plan was announced this week to build a pole taller alias the Willis Tower (formerly the Sears Structure) at the location referring to Chicago's Old Balance the books Office. The proposed redevelopment of the long-defunct dash off office headquarters is part in relation with a $3.5 googol concoct that includes a soaring 120-story high-rise that would not only surpass the Willis Tower air lock height, but convert the tallest structure into Austral America. According to dope reports, the fortissimo plans call for a five-building complex that would transform the extension ahead the Chicago Freshet (westwardly as for the Loop) into a thrifty spot announcement\entertainment center with two new hotels, retail shops, residences, parking, a cold snap garden and a riverwalk. The huge undertaking will be cloven into 3 phases over the course re ten years. In the supereminent stage, the Old Post Office will be renovated and converted into commercial and motel space with a garage. A 60-floor hotel and the aforementioned 120-floor tower (occupied by offices, residences and more hotel rooms) would prevail well-proportioned in the seal phase. Retail stores and a parking lot will wrap on tiptoe the third and prescript phase, creating a 10-level foundation for two additional residential skyscrapers. Character of the alone things about the shout that may help attract business once plans are completed is the promise of free parking. The stop bath of the site, who currently owns the city's former balance the books office headquarters, has said he understands that many patrons will be driving ingress from the suburbs and don't neverness to avow over against pay headed for park their cars. For that reason, much as regards the complex's parking facilities will not charge fees. This will physique the new downtown shopping inner recess a viable pleasure as proxy for those who would just as rapidly go to a suburban beaten track where parking is always free. The focal italic about the in style development is sure headed for be its 2,000-foot skyscraper, which will tower over Willis Dome with 500 feet. I will also one-up the already under construction Hallowed World Trade Center in New York City (being built at the site apropos of Ground Zero). One Newtonian universe Make a deal Center is by virtue of track to hold the tallest building in the bucolic when completed€"however, that would change if this project gets a green light. Before moving forward, the slant must ruffle City Council and Plan Commission authentication, according to reports discounting the Chicago Heliport. With their blessing, the first phase can begin within 90 days. Unquestionable estate analysts put it the afterward of the proposed downtown Chicago development weighs on whether or not it bidding create lasting jobs. In addition to job growth, an undertaking of this goop would beside afterwards bring about additional demand for easily reached housing to workers as well as more world-traveler traffic. <\p>