Related Midwest Announces Topping Off of 111 West Wacker

(CHICAGO) October 30, 2013 – Related Midwest announced today the much-anticipated topping off of 111 West Wacker Drive, the developer’s new 60-story iconic apartment tower that will open at Wacker and Clark Street along the Chicago River in 2014.

The topping off marks the most recent milestone in Related Midwest’s redevelopment of the high-profile site, which was originally planned as the home of the Waterview Tower and planned Shangri-La Hotel and luxury condominiums. Construction under the site’s original developer reached the 28th floor before stalling in 2008. Related Midwest acquired the site through the Related Real Estate Recovery Fund in 2011 and resumed construction on the concrete shell in October 2012.

“This has been one of Chicago’s most-watched development sites in recent history,” said Curt Bailey, president of Related Midwest. “We know Chicagoans have been extremely interested in the progress, which is why their support and anticipation for its opening next year makes the building’s topping off today even more special – and not just for us, but for the city.

“We’ve worked hard to create a building that pays tribute to such an unparalleled location in a city known for world-class architecture,” Bailey continued. “As we near completion, it is incredibly exciting to see the design unfold and witness 111 West Wacker taking its place in Chicago’s skyline.”

When complete, 111 West Wacker will feature 504 luxury apartments offering a best-in-class residential experience encompassing exclusive designer finishes, a full floor of exceptional amenities, a suite of hotel-level services, and a premier location overlooking the Chicago River and bridging the Loop business district and River North neighborhood. The building will offer studios, convertibles, and one-, two- and three-bedroom residences including penthouses. First move-ins are slated for summer 2014.

Related Midwest has assembled an elite team of partners for the project including Lend Lease U.S. Construction, New York-based architect Handel Architects and Chicago-based Kara Mann Design (KMD). The building is expected to achieve LEED Silver certification.

About Related Midwest
Related Midwest, the Chicago office of Related Companies, is the preeminent Chicago developer of luxury condominium and rental homes, affordable housing and unique mixed-use properties since 1988.  Recognized for its innovative, market-defining developments, Related Midwest creates properties of enduring value such as 340 on the Park, the first LEED-Silver residential tower in the Midwest. Currently the most active player in Chicago development, Related Midwest has two ultra luxury rental developments totaling more than 1,000 residences in downtown Chicago: 500 North Lake Shore Drive (currently leasing) and 111 West Wacker Drive (opening Summer 2014). The firm is also marketing South Loop Luxury by Related, three marquee South Loop condominium properties. Among Related Midwest’s successes in the downtown Chicago area are The Residences on Lake Shore Park (comprising 840 Lake Shore Drive, The Pearson, and The Belvedere), the Park Hyatt Hotel and Park Tower Condominiums at 800 N. Michigan Avenue, and 340 on the Park at 340 E. Randolph Street.

# # #