The Vista Tower is ready to go.
Mayor Rahm Emanuel announced today that the developers of the 95-story riverside tower designed by Jeanne Gang will break ground on the project this summer. At nearly 1,200 feet tall, the high-rise in the Lakeshore East development will be the third-tallest in Chicago.
Chicago-based Magellan Development Group is building the tower in a joint venture with Dalian Wanda Group, the largest real estate developer in China. The building at 375 E. Wacker Drive will include 200 hotel rooms and 400 condominiums at prices as high as $1,750 per square foot, which would make it one of the most expensive residential buildings in the city.
Buyers have already signed contracts for about 20 percent, or 80, of the condos, Magellan President David Carlins said after a news conference at the construction site. The city has approved the project, but the developers are still working through the permitting process, he said.
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