Check Out These 8 Buildings Opening In 2016
Where: 1000 S Clark St
Developer: JDL Development, iStar Financial
Completion: February
Why it’s huge: There are over 8,000 apartments in the downtown pipeline expected in the next two years, and the South Loop is one of the city's hottest submarkets across several sectors. JDL is betting this 29-story, 469-unit tower will fill with people looking to call downtown home.
Where: 1001 S State St
Developer: Golub & Co, CIM Group
Completion: Summer
Why it’s huge: Golub and CIM have a lot of skin in the downtown apartment game (they're also building the Block 37 apartments) and they have high hopes for this 39-story, 397-unit TOD on the former site of a police station.
Where: 101 E Erie
Developer: Geller Investments
Completion: Spring
Why it’s huge: Laurence Geller has the luxury market under control with the Waldorf Astoria Chicago. This adaptive reuse, 290-key hotel in the former Draft FCB HQ is ideally situated near the Mag Mile and Streeterville to compete with other chain hotels in the area.
Where: 39 S LaSalle
Developer: Kimpton Hotels
Completion: Spring
Why it’s huge: Kimpton has stakes planted all over downtown and River North. Now it's set its sights on the Financial District by converting the 14-story New York Life Building into a 281-room hotel with a top-floor ballroom, 9,500 SF of ground-level retail and a second-floor bar.
Where: 200 N Michigan Ave
Developer: The John Buck Co
Completion: Summer
Why it’s huge: The area between the Chicago River south to Millennium Park has been a hotbed of both multifamily and hotel development. John Buck is hoping the cachet of living near Millennium Park and the breathtaking views from this 41-story, 402-unit building will set a new standard for downtown residential.
Where: 444 W Lake St
Developer: Hines Interests, The Levy Organization, Ivanhoé Cambridge
Completion: Late Fall
Why it’s huge: River Point’s 52 stories and 1.05M SF are attractions, and so are the downtown views and what's expected to be the largest riverside plaza in the city. Several high-profile tenants have already signed leases, including McDermott Will & Emery, DLA Piper, Morton Salt and Mead Johnson Nutrition.
Where: 360 N Michigan Ave
Developer: Oxford Capital Group
Completion: Spring
Why it’s huge: It seems as though the construction only began yesterday on Oxford's adaptive reuse of the London Guarantee building. But the countdown has started to the hotel's delivery. Oxford built a 22-story Modernist tower to complement the London Guarantee building. This may be the hottest hotel opening of the year.
Where: 350 W Mart Drive
Developer: Wolf Point Owners, led by Chris Kennedy
Completion: The first tower will open this month. The entire project is expected to be completed later this year.
Why it’s huge: The Kennedy-led JV is pioneering the charge to build multifamily along the riverfront. The project's proximity to River North and downtown will be enticing for young workers.
