Buildings Department Issues $350M Construction Permit For Wolf Point East
The Chicago Department of Buildings issued a construction permit for Wolf Point East, giving the go-ahead for the 60-story apartment tower to go vertical. The work covered under the permit is valued at $350M.
Wolf Point East will be home to 698 apartments, six levels of underground parking, tenant amenity spaces on the second, third and 40th floors, and a landscaped river walk. The developer team, led by Illinois gubernatorial candidate Chris Kennedy, was issued a foundation construction permit and secured $200M in construction financing for the project in June.
Kennedy and his partners, Hines Interests and AFL-CIO Building Investment Trust, are targeting a late 2019 delivery for Wolf Point East. The tower will be one of the higher-profile projects in a downtown apartment pipeline expected to deliver over 7,000 new apartments through next year. The joint venture delivered Wolf Point West in 2016 and has plans for a third tower, Wolf Point South, once Wolf Point East is complete. Wolf Point South will be the tallest of the three buildings at 950 feet, and will include a mix of offices and residential.