Chicago Real Estate News & Neighborhood Notes

A massive new development planned to go in near Soldier Field just got some major affirmation from the Chicagoland Chamber of Commerce. The group recently released a more than 30-page study highlighting economic benefits of the proposed new development.

According to the study, One Central will likely bring in $120 billion in taxes and transit revenues over the next four decades. It’s estimated the $19 billion project will also create more than 200,000 permanent jobs and support tens of thousands of construction jobs.

The One Central project includes ten towers, a pedestrian bridge connecting the lakefront to the South Loop and public open space. In addition, the plan calls for a transportation hub.

The proposal still needs to gain backing from the incoming Mayor and from the City Council and other area leaders. The developer plans to host a number of public workshops in the near future.