$3 Billion Residential Project Possibly Coming to the South Loop

Posted by Helaine Cohen on Sunday, November 8th, 2015 at 12:23pm.

South Loop New Construction Development A massive new residential project is planned for the South Loop.  If it all goes through, the $3 billion Gateway project is expected to include thousands of new residential units for the Chicago area, mostly condominium homes.  The project by Chicago developer Gerald Fogelson is planned to be constructed over the train tracks sitting near the Field Museum and Soldier Field.

It is expected that the development will include 3,000 condos plus around an additional 500 hotel rooms.  Right now few details have been released about the homes.  Reportedly, though, the units will include unobstructed north and east views.  This area is located on the western side of Lake Shore Drive, between McCormick Place and Roosevelt Road.

Right now the developer, along with Forest City Enterprises of Cleveland, are said to be in search of a partner for phase one of the project.  If all goes well, the thousands of condos that are planned as part of Gateway will join the other thousands of new residential rentals already earmarked for the same South Loop neighborhood.

Helaine Cohen, Chicago Real Estate Broker

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