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November 2018

Found 2 blog entries for November 2018.

RPT Realty, the owner of Webster Place shopping center in Lincoln Park plans to expand the property by introducing two residential towers. Preliminary redevelopment plans has been shown to investors already. Part of the plan will reconfigure the shopping center at Webster and Clybourn avenues, which is 30 years old. Barnes and Noble would close, and the Regal Cinemas movie theater complex will be expanded.

The strategy behind this expansion plan is for RPT to capitalize on its location in comparison to Lincoln Yards, which is a $6 billion project that will be located to the south and west of Webster Place.

One big hurdle that RPT has to get over before the expansion can occur is earning the blessings of Webster Place Athletic Club. RPT and the

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Related Midwest recently encountered a push back from downtown Alderman Brendan Reilly. They proposed to build two skyscrapers on the Chicago Spire site. The reason being has to do with access and safety issues. The proposed project for 400 Lake Shore Drive will need major revisions before gaining the support of Reilly. In order for the City Council to review the proposal, they must first have the approval of the alderman.

Some of the changes that the alderman insists happen before he considers Related Midwest’s proposal consist of; shrinking the size of the podium where the towers will sit since it will restrict access to the site from East North Water Street, removing the hotel from the site, make use of ramps connected to Lake Shore Drive and

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