The Chicago City Council has approved the rezoning for a potential commercial development at 401 S Wacker Drive in The Loop. The wedge-shaped lot is bound by W Van Buren Street on the north, S Franklin Street to the east, and W Ida B. Wells Drive to the south with the Chicago River being just west of the site. The property is currently improved with a large cooling plant and adjacent parking lot owned by Centrio Energy, who began serving the Chicago area in 1995 under their previous name Enwave.
Final glass pieces are being installed for 300 N Michigan Avenue, a 47-story mixed-use skyscraper in The Loop. Co-developers Sterling Bay and Magellan have planned for a retail base, a 280-key citizenM hotel on the lower levels, and 289 rental apartment units on the upper floors.
ComEd has announced plans to redevelop the existing trading building at 333 S LaSalle Street in The Loop. Located on the corner with W Van Buren Street, the low-rise building is adjacent to the Board of Trade tower and for many years held the last open-outcry trading pits in Chicago. The purchase, which was finalized in November, marks the end of a long history for in-person trading that helped power the local economy, which now relies on virtual operations.
At eighth place in Chicago YIMBY’s year-end countdown is 300 N Michigan Avenue, a 47-story mixed-use skyscraper developed by Sterling Bay at the northeast corner of The Loop. Rising 523 feet to its pinnacle, this nearly complete tower will house retail within its podium, a hotel on floors six to 15, and apartments on the 17th through 46th floors. The hotel portion will be a 280-key CitizenM, while the residential portion, dubbed “Millie on Michigan” will yield a total of 289 rental units.
In 17th place for Chicago YIMBY’s year-end countdown is 410 S Wabash Avenue, a 25-story tower that was recently cleared to rise in The Loop. This development by Lennar Multifamily Company (LMC) will stand 260 feet in height, and will yield a mix of 8,000 square feet of ground-level mercantile space and 344 rental units.