Tagged : Downtown Chicago Real Estate News

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. 

If you take a closer look at the downtown Chicago apartment market right now, dozens of highly-attractive options and opportunities are available inside of some of the highest-profile projects to just recently be completed. 

Among some of the more dynamic new construction apartment towers currently renting are Landmark West Loop, Exhibit on Superior, and the fabulous 1333 S. Wabash building down in Chicago’s rapidly changing South Loop neighborhood. 

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CIM Group has certainly made plenty of headlines in recent months with its new Marquee at Block 37 development, but reports have now surfaced that link the Los Angeles-based developer to a deal that could lead to a redevelopment of one of downtown Chicago’s most iconic and historic high-rises. 

According to reports out of the Chicago Tribune and several other major media outlets, CIM Group has apparently reached an agreement to purchase the famed Tribune Tower for $240 million—a deal that seems to have been in the works for quite some time. 

Over the next year or so, Tribune Media plans to move out several hundred employees, which could provide an opportunity for CIM Group to revamp the 33 story tower, which was originally completed back in 1925.  

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Plans for a magnificent new tower were detailed this morning on Curbed, and if you haven’t seen the initial renderings, this latest proposal from Wanda Commercial Properties will likely make your jaw drop. Standing 89 stories high, the new mixed-use tower would include a 5-star hotel and both residential and commercial space. The site in which the building would be constructed is in the upscale and ultra-urban New Eastside neighborhood, just a few doors down from the renowned Aqua building.

At nearly 1,150 feet high, the new New Eastside mixed-use tower would become Chicago’s third tallest building, behind only the Willis Tower and Trump Tower Chicago. According to the outlet that first published the report, the $900 million project could be finished as

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