chicago-condos Dave on 30 Oct 2007 02:02 pm

Alderman sued by X/O developer

The developer of X/O Condominiums is suing 2nd Ward Alderman Bob Fioretti in a dispute over a proposed zoning change for the property.

Plans for X/O Condominiums, which call for two high-rise towers, were approved by the City Council last year. Now, Fioretti is trying to halt a zoning change that allowed the developers to build the towers. If he is successful, he could force the developer to cut the height of the buildings in half.

Kargil Development LLC, the company behind X/O Condominiums, has already pumped more than $25 million into the development and sold more than 200 units. The company is asking the court to preserve the current zoning for the property.

The development is one of the most modern to come to the area, and has been criticized by some neighborhood groups over its architectural design.

In the meantime the developer will have to convince buyers that they will get a favorable decision from the court.

X/O Condominiums are one of the most important new developments of luxury Chicago condos on the Near South Side. The development promises to bring many new residents and businesses to the neighborhood.

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