The Chicago City Council approved an amendment to the Residential-Business Planned Development (No. 306) for the 1.36-acre property at 554-628 W Diversey Parkway. The project, owned by Wintrust Bank, N.A., modifies development standards for the site. The amendment allows for a mix of uses including up to 253 residential units, retail, restaurants, and office space within the existing building framework, which includes a 153-foot tower and a one-story commercial structure. The maximum Floor Area Ratio is set at 4.3. As a condition of approval, the applicant must execute a Perimeter Restoration Agreement to improve adjacent streets, sidewalks, and landscaping.