Mega Four-Tower Development Project Unveiled For Chicago's New Eastside
Posted by Leo Clark. on
More jaw-dropping development could be on the way for the New Eastside, and no, we’re not just talking about Vista Tower, which is currently under construction with listings already on the MLS.
According to a series of reports, a number of mixed-use towers are currently in the works for one of the largest urban development projects in the country, and if built, would bring hundreds of additional residences and hotel rooms to the fast-growing neighborhood.
Two of the new towers, which would be a joint-collaboration between Magellan Development and Australia-based Lendlease, would top out at 80 stories and 50 stories respectively and be situated right alongside Lake Shore Drive just south of the river.
A third tower is also being discussed that…
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In case you haven’t noticed, single-family homes in Chicago can be expensive, especially in neighborhoods like Roscoe Village, Lakeview, and of course Lincoln Park. In fact, most move-in ready homes or newly built residences in these and other highly sought-after neighborhoods in Chicago start right around $1 million, and in many instances far exceed that price point.
The West Loop is hands down one of the hottest neighborhoods in Chicago right now. From the announcement of numerous large-scale commercial and residential projects like the new McDonald’s headquarters or Landmark West Loop to overall vibrant atmosphere that basically surrounds ‘Restaurant Row,’ Madison Street, the Fulton Market area, and just about every other nook and cranny in the community, it’s hard to argue against West Loop being one of the top places to call home in the city.
By now, there’s a pretty good chance you’ve heard the narrative—new construction rentals and apartments continue to be delivered all throughout downtown Chicago, and just when we think there might be somewhat of a slowdown on the development side of things, another large-scale project is announced.
Earlier today, Crain’s Chicago unveiled a series of spectacular new renderings of what could take over what’s essentially one of the last undeveloped parcels in all of River North.
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