From IBJ property Lines
"As promised, here is a siteplan from Kite Realty Group Trust that shows its preliminary plan to redevelop Pan Am Plaza. The plan shows seven restaurant, retail or entertainment spaces with a total of about 70,000 square feet for lease. The existing Pan Am memorial would be relocated to an area designed to “draw people into the plaza.” Kite joined with Sacramento, Calif.-based Coastal Partners LLC to buy the plaza and two adjacent ice skating rinks from Indiana Sports Corp. in April."
Wow, I did not see this coming. I thought that crazy save the park by the canal group was going to claim that Pam Am Plaza was needed public space.
Great news however. I am glad to see that Pam Am Plaza is finally being developed. I am not sure if anyone remembers but before that lovely brick plain was created, the Spencer Hotel stood there. It was constructed some time in the 1850's with a stone facade and multiple details added later. The hotel was considered a place of status to stay when it first opened. After the construction of multiple later 19th and early 20th century hotels, the place became a more

Enough with the history lessons.
Pam Am Plaza is in a prime spot, as multiple people will tell you. Its right between everything and the demand for the space must have sky rocketed. The LOS has really changed the shape of the near south side. The near south side is not that grand. Other than a handful of old homes and structures, it might as well be razed and rebuilt in a less filthy fashion. Enough gas tanks for you. Anyway, enough about the south side and its potential.
Pam Am Plaza was the proposal for a hotel about a year ago that would have been the second tallest. I saw the proposal briefly and all I remember is a very wide blade shoved into the ground with red brick somewhere on it. It was not that pretty.
The proposal was thrown out when the city chose the JW Marriott hotel over the Intercontinental and the plaza was forgotten.
The plaza has sat empty since the 90's and unused by every day people. The idea of filling the plaza in with one-two story structures actually sounds good. Multiple people think 'taller! Bigger! Flashier!" when in reality it should be anything but something that sticks out. I understand Pam Am Plaza is prime location but at the same time it would not only block views of the skyline from the new LOS and dwarf the area around it ( don't get me wrong, we shouldn't completely orient development for what sits around it or we end up with vinyl siding row houses and single family homes.). Something in scale with the Whole Sale Historical district and that is very street level oriented would be good for the area that totally lacks it. I do however think creating a large open walk way between Capitol Avenue and Illinois street would do wonders for that part of downtown but it may not be too practical of a choice.
Let the development continue.