CHICAGO-Describing their new development as a “town within a city”, developers Magellan Development Group and Near North Properties are set to unveil a huge Downtown mixed-use development they say will be the largest such building project in the nation.

The $1.5 billion Lakeside East project, which will be developed on 26-acres of land just southwest of where the Chicago River flows into Lake Michigan, will include five rental apartment towers, seven condominium towers, possibly two hotels and an elementary school.

Preliminary plans for development of the entire 83-acre Illinois center site will be presented tonight at the Cultural Center on Michigan Ave. will bring you further developments as they break.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.