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Initial details have been revealed for a new mixed-use office high-rise at 590 W Madison Street in West Loop Gate. Located on the northeast corner with N Jefferson Street, the tower will replace a narrow parking lot used by the existing tower at 540 Madison next door. The project is being led by Florida-based Third Millennium Group and Texas-based Hines.

Plans for a tower at this location date back to the construction of 540 Madison, with the lot always being earmarked for a future expansion. In 2014, Third Millennium floated plans for a tall glass skyscraper with a large hotel component, however, the team was not able to attract any tenants due to a surplus of Class A office space at the time.