CHICAGO—Related Midwest today announced that construction is beginning of Phase One of 400 Lake Shore, a 72-story residential tower that will reshape Chicago’s skyline where the Chicago River meets Lake Michigan. This innovative project will bring new luxury and affordable housing options along the lakefront, as well as add 4.5 acres of open and green space to the neighborhood—including construction of the long-awaited DuSable Park and completion of the Founder’s Way path on the famed Chicago Riverwalk to create a pedestrian path to the lake.
A symbol of the success and strength of Chicago, 400 Lake Shore will reimagine a site that had been left vacant after the plan to build the Chicago Spire skyscraper was abandoned nearly two decades ago. 400 Lake Shore will contribute to a thriving downtown with 635 new apartments, 20% (127 units) of which will be affordable, and other public amenities. With a projected completion date of early 2027, Phase One will consist of constructing the site’s 858-foot-tall North Tower. 400 Lake Shore will be the fifth project in Chicago under the Related Rentals brand, synonymous across the country with luxury high-rise living and thoughtful services and benefits.
“We are proud to begin construction at 400 Lake Shore and deliver Chicago a new, transformative project to be enjoyed for generations to come,” said Curt Bailey, President of Related Midwest. “Located on the last waterfront site where Lake Michigan meets the Chicago River, this development is anchored by two towers surrounded by public green space that will complete Founder’s Way on the River and DuSable Park, as well as provide much needed affordable housing for The City.”
“We are proud of the groundbreaking of Phase One at 400 Lake Shore, a project that will not only redefine Chicago’s skyline but also bring new opportunities for affordable housing to our beautiful lakefront,” said Mayor Brandon Johnson. “Phase One represents our city’s growth, as well as it’s inclusivity, and I thank the team at Related Midwest for their partnership and collaboration.”
"After a robust community review process, this development will deliver infrastructure, traffic and public safety improvements, entirely funded by Related Midwest, in addition to the highly anticipated improvements to DuSable Park," said Alderman Brendan Reilly. "I am grateful for the Developer's commitment to collaboration and investment in Downtown Chicago."
The towers, designed by the Chicago Office of Skidmore, Owings & Merrill with David Childs—-the architect behind One World Trade Center in New York City—feature thoughtful nods to Chicago architectural history and geography. This includes reimagining the iconic “Chicago Window”—a bay window design that is a hallmark of the city’s historic architecture—as a shallow bay of floor-to-ceiling glass. The towers taper down in plan to frame a view of the lake while angling back towards the cityscape—with metal detailing evoking the rippling surface of Lake Michigan. Building interiors have been designed by MAWD, whose work includes Related’s The Row Fulton Market, a precedent setting residential high rise recently completed. Local firm Stantec served as the Architect of Record for this project.
As part of its commitment to creating public green and open spaces, Related Midwest will partner with the Chicago Park District to bring DuSable Park to life—-a project first imagined by former Mayor Harold Washington. The 3.3-acre site, once home to Chicago’s founder Jean Baptiste Point DuSable, will be open to the public through Founders Way—a planned extension of the Chicago Riverwalk. In total, 400 Lake Shore will feature 4.5 acres of public land, including a plaza between the towers with amenities, a two-story podium and public art.
"The vision for 400 Lake Shore combines our expertise building multifamily towers in Chicago with the design prowess of dozens of professionals for a thoughtful solution that will benefit the entire City,” said Ann Thompson, Executive Vice President of Architecture and Design at Related Midwest. “As the birthplace of the skyscraper, Chicago deserves a development that is rooted in history but also forward thinking and we are thrilled to partner with the Chicago Office of Skidmore, Owings & Merrill to bring a new design to the iconic skyline.”
Phase One will be co-built by LR Contracting, Related Midwest's in-house contracting company, and long-time partner BOWA Construction. BOWA became the first minority-owned General Contractor to co-build a high-rise building in Chicago through its work on another Related Midwest development—The Row Fulton Market.
“400 Lake Shore is the latest collaboration in the long partnership between Related Midwest, LR Contracting and BOWA Construction,” said Don Biernacki, Executive Vice President of Construction at Related Midwest and President of LR Contracting Company. “The diversity of collaborators on this project represents the strength and diversity of our city, and we’re looking forward to welcoming all Chicagoans to the beautiful public amenities that come along with it.”
“BOWA has a long history of partnering with Related Midwest and LR Contracting, and we’re honored to be a part of the team behind the transformative 400 Lake Shore towers,” said Nosa Ehimwenman, CEO of BOWA Construction.
Construction financing for the tower and public improvements, including the completion of the Chicago Riverwalk to DuSable Park, was a collaboration between The Illinois Housing Development Authority (IHDA), Wells Fargo and other leading financial institutions.
“We believe mixed-income communities are healthy communities, and we are proud to partner on this development that will create amenity-rich affordable housing near jobs, public transportation and more,” Illinois Housing Development Authority Executive Director Kristin Faust said. “After years of planning, this site will be transformed into a neighborhood asset that improves quality of life for the entire community.”
“Wells Fargo is excited to be involved in this innovative development, which will improve the Chicago waterfront and deliver much needed affordable housing to the area,” said Brian Lucey, managing director at Wells Fargo. “Related Midwest aligns with our priority to create and preserve much needed affordable housing in the communities in which we live and serve.”
“Our investment in the iconic 400 Lake Shore is an important part of HIT’s commitment to Chicago,” said Chang Suh, CEO of the AFL-CIO Housing Investment Trust. “We have 12 active construction projects that are generating thousands of homes and union construction jobs, and positively impacting this great city.”
“With market rents rising beyond the reach of many families in the U.S., PNC Tax Credit Solutions is working with developer partners and investors to increase the supply of affordable rental options,” said John Nunnery, Senior Vice President and Manager of Originations at PNC. “We are proud to work with Related Midwest to bring additional affordable housing to the Chicago community.”
Tricia Van Horn