Photos show fencing and equipment in preparation for a new residential tower at 234 W Polk Street in South Loop. Known as The Reed, the tower will mark the next stage of a larger megadevelopment called Southbank. While the current prep work for The Reed is taking place further north from where its actual footprint will be, the work is still a critical first step for the development’s construction. Permits posted on-site show that Lendlease is sealing off old freight tunnels that run underneath the Southbank property, thereby allowing for foundation work to proceed on the tower site.
Renderings have been revealed for The Reed, the second residential tower at Southbank, as the entire development takes the 11th spot in YIMBY’s Chicago’s tallest developments countdown. Located on a 7.5-acre, waterfront site, Southbank is a megadevelopment that was split off from the original Riverline joint venture development by Lendlease and CMK Companies. The parcel is bound by W Harrison Street, S Wells Street, W Polk Street, and the Chicago River.