Chicago—Related Midwest is redeveloping 111 West Wacker Dr., a 60-story iconic apartment tower that will open along the Chicago River in 2014.
“This is a very special location in Chicago—one of the city’s most closely watched and highly anticipated buildings,” Curt Bailey, Related Midwest’s president, tells MHN. “We’ve created a building design that is not only worthy of this prominent address, but elevates the architectural quotient in the immediate area, which is hard to do in a city like Chicago that is steeped in iconic architecture.”
When complete, 111 West Wacker will feature 504 luxury apartments comprised of studios, convertibles and one-, two- and three-bedroom residences including penthouses. Amenities will include exclusive designer finishes, a suite of hotel-level services, and a premier location overlooking the Chicago River and bridging the Loop business district and River North neighborhood.
“Anyone who has spent time in Chicago can understand the appeal of a residential building in such a prominent location on the Chicago River,” Bailey says. “The views of the river and the city are absolutely amazing. Plus, residents will be central to some of downtown Chicago’s most vibrant areas for work, entertainment and dining, including the central business district, theatre district and the River North neighborhood.”
The high-profile site was originally planned as the home of the Waterview Tower and planned Shangri-La Hotel and luxury condominiums, but after construction reached the 28th floor, it stalled in 2008. Related Midwest acquired the site through the Related Real Estate Recovery Fund in 2011 and resumed construction on the concrete shell in October 2012.
“It’s always our goal at Related to create a first-class residential experience by combining beautiful design and style with an incredible location and unmatched amenities and service level,” Bailey says. “111 West Wacker is poised to deliver on all those fronts, and we are eager to introduce it as the next standard-setting apartment tower in downtown Chicago.”
Related Midwest has assembled a team of partners for the project including Lend Lease U.S. Construction, New York-based architect Handel Architects and Chicago-based Kara Mann Design (KMD). The building is expected to achieve LEED Silver certification.
First move-ins are slated for summer 2014.