88-story Wanda Vista hotel and residence planned for Lakeshore East
Mayor Rahm Emanuel today presided over the signing of an architect agreement between Beijing-based Wanda Group and Magellan Development Group to build an 88-story mixed-use hotel, condominium and retail building at the edge of the Loop in the Lakeshore East area. This marks one of the final steps to bringing the $900 million Wanda Vista project to Chicago, and adds another important milestone to the Loop's rapid growth as a residential neighborhood.
Wanda Vista will be located at the intersection of East Wacker Dr. and North Field Blvd., and will house a 5 star hotel with approximately 250 hotel rooms, 390 condominiums, and approximately 9,000 square feet of retail space. The 88-story building spans over Lower Field Drive with views to the river, lake and city. The building will be applying for LEED silver certification.
Wanda Vista is designed by Chicago-based architect Jeanne Gang of Studio Gang Architects, in collaboration with the architect of record bKL Architecture LLC. The project is expected to break ground in 2016 and will create over 2,000 construction jobs and more than 500 permanent jobs. It will be the largest-ever real estate investment by a Chinese company in Chicago, and one of the largest in the United States.
The tower's eventual height remains unclear. According to Blair Kamin, the height "had been widely reported as 1,148 feet, which would have made it Chicago's third tallest building—well behind the Willis Tower and the Trump International Hotel & Tower, but just ahead of the 1,136-foot Aon Center and the 1,128-foot John Hancock Center."
(Photos: Wanda Group / Chicago Mayor's Office)