Work on the new 0.8-acre Cascade Park is wrapping up as part of Lendlease and Magellan Development Group‘s Cirrus & Cascade masterplan in Lakeshore East. While the park is to be privately owned and maintained, it will be open to both residents and the public. The park slopes downward from west to east, connecting the elevated N Harbor Drive to the lower lakefront level.
Structural work has surpassed the 25th floor at 300 N Michigan Avenue, a 47-floor mixed-use tower rising in the northeast corner of The Loop. The 400,000-square-foot project is being co-developed by Sterling Bay and Magellan Development Group, whose plans include 25,000 square feet of retail on the first three floors, a 280-key citizenM hotel on floors six through 15, and 289 apartments spanning floors 17 through 45.
Construction has begun on the foundations for 300 N Michigan, which will rise 523 feet across 47 stories. Addressed as 300 N Michigan Avenue in The Loop, the development will stand at the intersection of N Michigan Avenue and E Wacker Place. Permit filings show that the foundation permits were issued in August, approving the construction of the caissons, foundation structure, and full floor structure up to level four. Full building permits have yet to be filed for the tower portion of the project. 300 N Michigan LLC is the owner behind the applications, an LLC for Magellan Development Group and Sterling Bay, the developers collaborating on this project.
The 512-foot-tall Cirrus and its neighboring 396-foot-tall Cascade are approaching the halfway mark of their vertical climb in Downtown’s Lakeshore East neighborhood. Together with the nearby Vista Tower, officially 93 stories but marketed as 101 stories, the Lendlease and Magellan-backed towers form the latest chapter of the neighborhood’s 80-year transformation from a rail yard to a 21st-century residential nucleus.