Related Midwest hosted a groundbreaking ceremony on Monday, June 17, at the construction site of 400 Lake Shore, their new two-tower residential development in Streeterville. Repurposing the former Chicago Spire site, the 72-story North Tower is currently under construction; the South Tower will follow. The North Tower will deliver 635 residential units, with 20% of them set aside as affordable.
The Chicago Spire cofferdam, idle since 2008 after the 150-story skyscraper’s construction came to a halt, is getting a bit of a hair cut. Thanks to 400 Lake Shore, the 72-story residential tower now being built on the site, the top “ring” of the cofferdam is being excavated and removed as part of the new tower’s foundation.
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.
