Reaction Mixed To Possible 89-Story Skyscraper Along Lakefront

(CBS) -- Today, we're getting a look at what may be the next big thing in Chicago.

We already have the Willis Tower – at 110 stories, the tallest building in the city.

Coming in at No. 2: the Trump Tower, at 92 stories.

A plot of land just south of the river, north of Randolph and east of Michigan, could be the site of the city's third-tallest skyscraper.

"It's interesting for a high-rise," architecture expert Lee Bey says.

He likes what we may see: an 89-story building that combines a luxury hotel and high-end apartments.

"It sort of bends in and out to let in more sunlight to create more roofspace, things we don't normally see with tall buildings," Bey says.

George Gibson lives in a condo just south of the proposed site. Like hundreds of others, he's close enough to lose a portion of his lake front view. But Gibson plans to adjust.

"You know, I've got binoculars, and they've got a lot of windows to look in," he says.

But it no laughing matter for residents like Walter Holmes.

"Another visual abomination," he says. "Between all the traffic, the Segways, the new parks -- and now we need that?"

For now, it's just a $900 million proposal by a Chinese developer. It needs approval by the City Planning Commission and possibly the City Council.

Another hurdle involves financing. Alby Gallum of Crain's Chicago Business says details aren't yet known.