Related Midwest Secures $500M in Financing for Redevelopment of Chicago Spire Site
Renowned architecture firm Skidmore, Owings & Merrill, along with David Childs, have designed the first phase of Related Midwest’s ambitious 400 Lake Shore development project. The initial stage will consist of a 72-story apartment building with 635 units on the northern portion of the site. According to Crain’s , construction financing totaling over $500 million has been secured for this project.
Located at the convergence point between Lake Michigan and Chicago River, this prime waterfront location is also set to include DuSable Park as well as a pedestrian path connecting Riverwalk to Lake Michigan in honor of Jean Baptiste DuSable – Chicago’s founding father.
Plans for this two-tower complex were unveiled back in 2018 and aim to revitalize the long-abandoned site where once stood an ill-fated structure known as “Chicago Spire”. Construction is already underway on these new towers and completion is expected by 2027.
Don’t miss out on Connect Industrial Midwest taking place March 5th at Joe’s Live in Rosemont, Illinois. Click here for more information and registration details.
