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February 2019

Found 2 blog entries for February 2019.

Photo Credit: Draper & Kramer

A 275-unit tower located two blocks from McCormick Place Convention Center broke ground last week and will open in 2020. The development is a 24-story apartment tower located at 2111 S. Wabash Avenue.  Draper & Kramer, a Chicago Developer, is working on the residential part of the development making plans for a neighboring hotel too.

The development won City Council approval in 2016. The proposed plan at that time,  included the 144-unit hotel that would be on the northwest corner of Wabash and Cermak Road.

Since the proposal, the surrounding area has gotten lots of additions such as a new Green Line station and two other hotels. This spells good news for Draper & Kramer. The firms executive vice president stated

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Lincoln Yards Site

Photo Credit: Sterling Bay

Megadevelopments Lincoln Yards and 78 fates are now in the hands of the Chicago City Council. Both tax-increment financing districts will receive as much as $2.4 billion in public money.

The approval for the proposed TIF districts came yesterday to finance infrastructure projects. Sterling Bay’s Lincoln Yards project will cost approximately $6 billion and will be located along the Branch of the Chicago River. Related Midwest’s project will cost approximately $7 billion for a mixed-use campus between Roosevelt Road and Chinatown.

The 78 has made more progress than Lincoln Yards so far. The 78 won City Council zoning approval last year. Lincoln Yards on the other hand, still needs approval from the City Council’s

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