Related Midwest To Lead Development Of 62-Acre Riverfront Site In Downtown Chicago
Big changes are in store for downtown Chicago, where Taylor Johnson client Related Midwest has acquired a stake in a 62-acre riverfront site it plans to transform into a mixed-use, master-planned community that will bridge the gap between the Loop and Chinatown. As the Chicago Tribune reports, the multibillion-dollar development would include a mix of residential, retail and office space and take approximately 15 years to complete. It builds on Related’s 40-year history of spearheading market-defining projects like Hudson Yards in Manhattan, the largest private real estate development in U.S. history, and would be the developer’s most ambitious undertaking to date in Chicago, where it has brought more than $2 billion in residential, mixed-use and affordable housing communities to market.
One of the largest undeveloped parcels of land in Chicago, the 62-acre property at the southwest corner of Clark Street and Roosevelt Road extends a half-mile south along the Chicago River to 16th Street. (Credit: Okrent Associates)