by Andrew Flores staff writer
Chicago mayor Rahm Emmanuel announced on May 2nd that construction will soon begin on a 93-story building that will become Chicago’s third-tallest building.
The Vista Tower will stand nearly 1,200 feet tall, and will be located on Wacker Drive along the Chicago River. The tower will house a 5-star hotel, more than 400 condominiums and approximately 9,000 feet of retail space, according to a press release from the mayor’s office.
The Vista Tower was designed by architect and Chicago native Jeanna Gang. The building may become the world’s tallest building designed by a woman-owned firm, according the NBC Chicago.
The $900 million project is the largest real estate investment by a Chinese company in Chicago and one of the largest in the US, according to NBC. The Wanda Group, owned by China’s wealthiest man, chose Chicago over New York and Los Angeles, according to ABC.
The project will create more than 2,000 construction jobs and more than 500 per ant jobs, said city officials. According to Curbed Chicago, the project will take 4 years to build. Work will begin in the next couple of months.
Units being offered include 1, 2, 3, and 4 bedrooms with prices starting at $1 million, according to Curbed Chicago. A single duplex penthouse, which will be on the tower’s top two levels, is expected to cost approximately $18 million.
This is just one of 40 high-rises under construction in Chicago right now, according to Curbed Chicago. River North, where Moody is located, has 10 out of the 41 buildings being built, including the 24-story condo across from Culby at 808 Wells St.