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Magellan Ready To Break Ground On Vista Tower

Chicago

The JV of Magellan Development and Dalian Wanda Group is reportedly close to breaking ground on the proposed Vista Tower in Lakeshore East. Dignitaries could be tossing ceremonial shovels of dirt as early as next month.

It's another step toward making the Jeanne Gang-designed skyscraper a reality, Crain's reports. At 1,186 feet, Vista Tower would become the city's third-tallest skyscraper. Plans call for 200 hotel rooms and 400 condos, whose price tags start at a cool $1M. The Magellan-Wanda JV is already selling condo units in the 93-story tower.

Construction of Vista Tower would take four years. The mayor's office says the project would create 2,000 construction jobs and 500 permanent jobs. [Crain's]