Related Midwest, in partnership with city officials, has officially broken ground on a new two-tower skyscraper project at the former Chicago Spire site. The highly anticipated development will replace the notorious failed mega-tall skyscraper project and transform the vacant lot at 400 Lake Shore into a $500 million residential complex.
The first phase of construction includes a 72-story tower standing at 858 feet tall on the northern end of the site. This tower will feature 635 rental apartments and also include amenities such as DuSable Park and an extension of Chicago’s Riverwalk.
LR Contracting Company and BOWA Construction are co-building phase one of this ambitious project, designed by Skidmore, Owings & Merrill (SOM) with David Childs leading from their Chicago office. MAWD is responsible for designing building interiors while Stantec serves as architect of record.
Financing for this development was made possible through collaboration between Illinois Housing Development Authority (IHDA), Wells Fargo, Bank of America N.A., PNC, and other top financial institutions.
The groundbreaking marks an exciting milestone for Related Midwest’s latest venture to revitalize this iconic location in downtown Chicago.
