Prior to the announcement of the new AMC theatre coming to Block 37, Crain’s Chicago Business reported that owners of the Loop’s largest shopping mall will also be starting construction on a brand new 34-story, 690-unit apartment tower on top of the already existing four story structure—a project that will be the largest rental development the Loop has seen in decades.
The new tower, which was designed by renowned Chicago architecture firm Solomon Cordwell Buenz & Associates, is expected to further enhance what many consider to be one of downtown’s most challenging properties, and bring even more life to a part of Chicago that’s known most for its commercial real estate and big business.
Just within the last year, other major high-end rental developments to hit the Loop real estate market include the 504-unit high-rise at 111 W. Wacker, and the 332-unit building at 73 E. Lake. Despite this sudden influx of apartment units in the area however, Los Angeles-based real estate firm CIM Group still believes demand for such housing will be there once the project is finished sometime in 2016.
Interested in rentals in downtown Chicago? Contact local real estate expert Helaine Cohen today at (312) 953-0961!