Two residential construction projects in Chicago, 220 North Ada in Fulton Market and 400 Lake Shore in Streeterville, erected tower cranes on their respective job sites last week. The two new cranes mark the 10th and 11th to operate in the city in the month of May.
Construction is set to start later this year for the Navy Pier Marina located along the north side of the pier at roughly 848 E Grand Avenue. Nearly a decade in development, the new addition to the pier has finally received all of the necessary city approvals in order to move forward. The project is being led by NPM Ventures LLC and its founder Randy Podolsky.
“Star Wars” creator George Lucas, have expanded his real estate portfolio with the purchase of a $11.2 million 66th-floor penthouse in Streeterville’s 800 N Michagan Avenue building from Citadel founder Ken Griffin. They plan to merge this penthouse with their existing 65th-floor condo, bought in 2015 for $18.75 million, to create a 16,000-square-foot duplex penthouse. The total cost for this project is estimated at $33.5 million, setting a new record for Chicago’s most expensive condo. Architect Scott Fortman of Gibbons, Fortman & Associates is overseeing the design, which includes adding two new interior staircases and upgrading electrical and mechanical systems as reported by the Chicago Tribune.
The construction of 400 Lake Shore Drive in Streeterville has recently advanced with a significant concrete pour, involving 250 truckloads delivering nine million pounds of concrete. The 72-story, 858-foot-tall tower is currently the tallest building under construction in the city and will be built on the site of the canceled Chicago Spire project. This first phase of a dual-skyscraper development by Related Midwest will span 1.1 million square feet and house 635 apartments, including 127 affordable housing units. Skidmore, Owings & Merrill’s Chicago office is leading the building’s design, with input from architect David Childs and the interior design by MAWD. The exterior features an interpretation of the iconic “Chicago Window” and incorporates a metal and glass facade with various setbacks, resulting in a distinctive sail-like shape.
With much of the remaining work now at the base, The Prime Group is finalizing the construction of a 28-story hotel located at 150 E Ontario Street in the Streeterville neighborhood. This building, a part of the RIU Hotels and Resorts group, is 345 feet tall and includes 388 guest rooms. On the ground floor will be a lobby and a cafe situated at the southeast corner, while the second level will house a dining room for guests.
