2.5-Acre Mixed-Use Development Set to Change Landscape of Chicago’s Chinatown
- Apr 15, 2010
By Anuradha Kher, Online News Editor
Chicago–Eastern Tower, a $100-million mixed-use development in the Chinatown neighborhood, recently received final zoning approval from the city.
Chicago’s Chinatown neighborhood is bounded roughly by 18th Street, Canal, 26th and Wentworth.
Wabash Development will complete the project in three phases on 2.5 acres at 24th Street and Wallace Ave. Phase I will consist of 12,000 square feet of commercial space and 96 condominiums in a seven-story building. Phase II of the development will include a six-level community center and indoor mall with 250,000 square feet of commercial space and parking and the final stage is planned as a 22-story high-rise containing 150 condominiums and 100 deluxe hotel rooms.
The 700 sq. ft., two-bedroom, one-bath condos will be priced under $200,000 while the 800 sq. ft., two-bedroom, 2.5-bath units will be the mid-$200,000 range.
“With affordable condominiums, an indoor shopping mall and a hotel, Eastern Tower promises to be a destination site and a totally new concept in mixed-use development in Chinatown,” says developer See Y. Wong of Wabash Development Group.
The Wabash Development Group is also planning a $50-million Grand Imperial Hotel Condominium, a Chinese-themed hotel-condo development at 2150 S. Clark.
The proposed plan includes a 26,000-sq.-ft. retail center, which is expected to break ground in late 2010, Wong says. Phase II is planned as an eight-story hotel with 80 rooms. The project is awaiting city approval.