Windfall Group Plans New Commercial Building in Chicago’s Chinatown; New Restaurant Announced for Hard Rock Hotel Chicago
- Jul 05, 2012
Windfall Group USA is under contract to acquire one of the most coveted pieces of property in Chicago’s Chinatown and plans to build a 100,000-square-foot commercial building, Crain’s Cleveland Business reports.
The Cleveland-based developer plans to construct the six-story commercial building on the southwest corner of Archer Street and Wentworth Avenue. President of Windfall Group USA, Eddie Ni, said he is under contract to buy the property for $5 million and is currently negotiating with lenders to arrange financing for the construction of the $18 million building.
According to the plans presented by Mr. Ni, the development would feature a supermarket and a food court on the ground floor and between 200 and 1,500 square feet of retail condominiums on the second and third floors. The development could also feature a new Chicago Public Library branch, which would occupy the fourth and part of the fifth floor. The top level would be filled out with offices.
Chicago residents and visitors can also look forward to a new dining venue, as Chicagorealestatedaily.com reports that a Chuck’s Manufacturing will open in August on the ground floor of the Hard Rock Hotel Chicago on 230 North Michigan Ave. The new restaurant will replace the China Grill that closed in January after the owner of the hotel, Grosse Pointe-based Becker Ventures LLC, bought out the lease.
Becker Ventures will own and operate Chuck’s Manufacturing, and Executive Vice President Carrie Meghie said the name honors the automotive-industry background of her father, Charles “Chuck” Becker.
Rendering Courtesy of: windfallusa.com
For more market data on Chicago, please click here.