Lakeshore club in danger; Developer wants to turn athletic club into luxury residences

The prospective buyer of the old Lakeshore Athletic Club, 850 N.Lake Shore Drive, plans to raze the 19-story building and constructnew luxury residences in its place, despite claims bypreservationist groups that it should be a landmark.

The new structure would be the same height as the old one andthus wouldn't need a zoning change, Alan Schachtman, senior vicepresident at Fifield Cos., said Wednesday. He said Fifield has acontract to buy the property from Northwestern University.

The contract is contingent on Fifield securing a demolitionpermit. Schachtman declined to discuss other terms, but sources saidthe building sold for more than $40 million.

Both …