The City of Chicago has given permission for the University of Chicago to build a new hotel on 60th Street at Kimbark, between the Keller Center and the new David M. Rubenstein Forum, currently under construction.

The 15-story hotel designed by The Loop’s Holabird and Root and developed by New York’s Hospitality 3 will have 167 rooms, a fitness center, meeting space, and a restaurant. The building will be 138,000 square feet and 155 feet tall. It’s is going by the name “The Study at the University of Chicago” and the address 1227 East 60th Street.

According to the University’s Facilities Services department:

The design consists of three main massing elements. The first floor podium creates an inviting public lounge and restaurant space with a residential feel and includes an open storefront for views to the Midway. The second floor conference level is a transparent glass volume at the base of the guestroom tower. The conference pre-function space spills out to an exterior terrace facing the midway. The tower volume reads as a plinth of stone, with vertical seams allowing light into the public corridors. The stone façade design creates a repetitive guest room module of precast concrete, dark brake metal, vision glass and an operable window.”

Also expect 4,600 square feet of meeting space, a fitness center, and a winter garden, of which Chicago really could use more.

The University told the city that the hotel is intended to work in tandem with events at the Rubenstein Forum conference center writing, “The Study will provide short and long-term accommodations for visiting faculty, speakers, dignitaries, and conference coordinators.”

The Study will undoubtedly also attract people visiting the upcoming Barack Obama Presidential Center, to be erected just a few blocks away.