Big changes are coming to Chicago this year, including developments in the city’s North and South Sides that will dramatically change the landscape. Here are some of the major projects to eye in the coming year, as reported by Axios Chicago:
- Construction of the $6 billion Lincoln Yards project started in late 2021 and buildings could begin to take shape this year. The first should be an eight-story riverfront building for creative office space and a medical center.
- The South Side equivalent to Lincoln Yards development is the $7 billion “The 78” project, so-dubbed because it will be large enough to be considered Chicago’s 78th neighborhood. It’s the biggest development in Chicago history, according to Axios. Watch for progress throughout the year.
- A considerable amount of public dollars hang in the balance of the One Central project. The developers have asked for $6.5 billion of subsidies for the undertaking, which would include a new train station near Soldier Field, according to the Chicago Sun-Times. Construction could begin later this year. Support for the mega-development almost petered out once before.
- Watch for progress at United Yards, a $51.5 million multi-use development that will bring a 50-unit affordable housing building to a vacant lot in the Back of the Yards neighborhood. The project was originally conceived in 2014 and is part of the Invest South/West Initiative.
- If you’re on the lookout for a flashy new crib, don’t miss the luxury condo building going up in the West Loop at the northwest corner of Morgan and Madison streets. At least one unit is going for nearly $6 million, so be prepared for a hefty downpayment, according to a Gold Coast Realty posting cited by Axios. If that’s too high a price, consider a $2 million unit instead.
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[Axios Chicago] – Harrison Connery