Chicago is one of the most popular and fastest developing cities in the States, as noted by the United States Census Bureau. The city’s real estate economy is booming this summer as more than a dozen high-rise projects are underway. Some of the country’s – and the world’s – biggest corporate tenants like Amazon, Google, and Facebook are turning the city into a global hub of commercial and private activities.
Ranked as the third largest skyscraper in Chicago upon completion, this over 1000-foot tall fivestar luxury hotel and condominium building is a testimony to the ever-growing and strong real estate industry of Chicago. This great building is a joint project by the Magellan and Wanda Development Groups, respectively. Apart from being a masterpiece of architecture in itself, one of the best things about this soon-to-be building is its prime location: the prestigious Chicago riverfront view and one of the busiest roads — E Wacker drive extension. The estimated cost of the project is around $900 million, and it is the second among the only two mega-projects in the country that are designed by a female architect. Upon successful completion, the residential condos are projected to cost between $1 to $18 million.
Now, here is a mega-project which comes as a once-in-a-lifetime opportunity, “The 78” of Chicago. Located in the heart of Chicago — Clark Street and Roosevelt Road — this structure is proudly termed as “78,” to add a whole new neighborhood along with the other 77 neighborhoods of Chicago. It’s poised to become a diverse, multi-purpose ambitious commercial and housing development; the price tag itself clarifies the significance of it. It’s centrally located by the Chicago Riverwalk, a hub of socialization for Chicago’s community life. While there will be several housing and commercial projects in this new neighborhood (some 950+ feet tall), the main attraction of this mega-project is the contribution which it will provide to the city’s administration and the public in terms of revenue and jobs.
NEMA Chicago is the tallest rental building in Chicago and one of the most prestigious designed as is evident from its entire construction tenure. The 76-story residential high rise tower is almost 900 feet tall. It’s designed by the internationally-renowned French architect, Rafael Vinoly, and developed by Crescent Heights, a USA-based real estate developer. The project’s initial name was One Grant Park, which was changed to a famous Chicagoan brand, NEMA, in 2017. Upon its successful completion in May 2019, the NEMA Chicago is now open for rent — furnishing two to four-bedroom apartments, premiu facilities and features. Additionally, the tower shows a remarkable view on the South Loop of the city; on the shores of Lake Michigan and one of the busiest roads of the city, the E Roosevelt. This ambitious project will continue to highlight the brave and bold architectural heritage for which Chicago is known for throughout the world.