There’s been a lot of talk over the years about “maximizing the value” of the corner of North State Street and East Huron Street. After all, it’s in the middle of downtown Chicago, right on State Street, just steps away from the Magnificent Mile, Chicago Avenue, the CTA Red Line subway, and more conveniences than most people have fingers and toes to count them on.

But until now, nothing’s really come together for this space. I’ll say that again — Until now.

Everything is finally in place to plant a residential tower on this corner. Permits have been lined up to demolish the two buildings in the way, 4 East Huron and 8 East Huron. Both are wonderful, beautiful old buildings. Both were built in 1889 and are listed as code orange. But apparently they’re not orange enough to save them from the proverbial wrecking ball, which is being proverbially spit-polished at this moment.

What will replace them is CA Ventures‘ new 26-story residential building designed by Valerio Dewalt Train Associates (the “build or die” people). It’s a very narrow design, as necessitated by the tight space it’s slipping into. So tight that not only will 20 floors of balconies hang over the Huron Street public sidewalk, but even the feet of some of the caissons will venture into public property. Naturally, the city will be compensated about two grand a year for both intrusions.

There’s not a lot of paperwork available on this one, because the plot is already zoned DX-12, which is enough to get this project built without a zoning change. But we do know that it will rise to a roof height of 290 feet, and there’s a small mechanical penthouse slightly higher than that.

We’ve seen this building named both “CA State/Huron” and “2 East Huron” in paperwork. We’ll see which one, if either, sticks. Look for barriers to go up soon.