Earlier in the fall, a developer from Miami revealed plans for a mega two-tower development that would almost certainly re-define the South Loop skyline. Designed by New York-based architect Rafael Viñoly, the 76-story project would bring 1,440 residential units to the South Loop if built.
As noted by several reports, the developer, Crescent Heights, already owns nearly 5,000 units in the South Loop, so there’s no denying their familiarity with the local Chicago real estate market, especially in the South Loop part of town.
The goal of designing such a dynamic new project is to develop an iconic high-rise that will anchor the south end of Grant Park, which almost acts as the gateway to the city’s rapidly developing South Loop. Not long ago, plans for the new Riverline master-planned community were also released, which will bring an additional 2,700 units to the area when finished in 2025.
According to those close to the project, 113 E. Roosevelt will be built in two phases with the first tower rising 76 stories and housing 792 rentals, and the second phase consisting of the other slightly taller tower and housing 648 condos. In addition, there’s also plans for a third phase, which would include a public park and 100 townhouses that would be developed nearby just off Indiana Avenue.
If the towers are 113 E. Roosevelt are eventually built,113 E. Roosevelt will become the tallest structure in Chicago south of Van Buren.
By: Terri McAuleyChicago Condos for Sale
“Chicago’s Luxury Condo Specialist”