CHICAGO-The Kennedy family has renewed a massive three-building project at Wolf Point on the Chicago River downtown, just north of the West Loop. The Kennedys, along with three investors including Hines, Magellan Development Group and an unnamed overseas entity, proposed at a community meeting Tuesday night a plan for two office buildings and an apartment tower that would cost more than $1 billion.

The family sold the nearby Merchandise Mart to Vornado Realty Trust some time ago, but kept its hold on the 4-acre parcel at the junction of the north, south and east branches of the Chicago River. There have many development proposals for the historic property, known as the location of the city’s first bar and hotel, and one of the city’s signature locations as depicted in municipal logos.

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?


NOT FOR REPRINT

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

 

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

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