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Development in the South Loop continues to move forward at rapidly. The city issued demolition permits for the former National Association of Letter Carriers union HQ at 1411 South Michigan Ave. In its place, a JV of Russland Capital Partners and LendLease will build a 15-story mixed-use tower.
Construction of the new building is expected to start this fall. When completed, the multifamily component will house 199 apartments ranging from studios to three-bedroom units. Amenities will include a basketball court, an outdoor swimming pool, a sauna, a yoga studio, a dog run, a 3k SF fitness center, a club room with a theater, outdoor grills and a business center.
The Russland-LendLease JV is building another 40k SF of retail in the building. Much of that space has already been earmarked by Rush University Medical Center, which is planning an outpatient facility in the building as it expands its off-campus healthcare strategy. Rush filed a certificate of need with the state for the facility, which will house primary care, obstetrics and gynecology, endocrinology, otolaryngology, cardiology, dermatology, gastroenterology and rheumatology providers.
The building is expected to be delivered in late 2017.
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