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muted
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Whiskey Tango Foxtrot
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From the link:

Crain's

East Loop apartment tower near groundbreaking

(Crain's) — Developers Tony Rossi and Tom Moran are getting ready to break ground on a 332-unit apartment tower in the East Loop, the ninth new rental project in a downtown construction wave that will test the market in the coming years.

Demolition crews have been tearing down existing buildings to make way for the new 42-story luxury apartment high-rise at 73 E. Lake St., and the developers are wrapping up the paperwork for their construction financing, says Mr. Rossi, president of Chicago-based M&R Development LLC. “We hope to have it buttoned up at the end of this month or the first week in June,” he says.

Mr. Rossi declines to disclose the project's lender or the size of the construction loan. In an earlier interview, he said the building would cost $116 million, or about $349,000 a unit. The venture Messrs. Rossi and Moran formed to build the tower acquired the development site in April for $12.2 million, county records show.

The project, called Summit on Lake, is the latest entrant in a downtown apartment building boom that began last year, spurred by rising rents and occupancies — and soaring apartment values.

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Read more: http://www.chicagorealestatedaily.c...tment-tower-near-groundbreaking#ixzz1vHKkd7tI
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http://blog.chicagoarchitecture.inf...-for-new-loop-skyscraper-and-office-building/


http://blog.chicagoarchitecture.inf...-for-new-loop-skyscraper-and-office-building/
 

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Vigilant Citizen
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Good News. Not an amazing design, but it's a nice glass tower, that is a good filler
 

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Moderator
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333 Posts
Viewed blueprints this morning:

Top of parapet - 145.54 m
Highest floor plate (42) - 134.47 m
Highest residential floor (41) - 129.85 m
 

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Whiskey Tango Foxtrot
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55,632 Posts
73 East Lake Street Formally Breaks Ground



Construction of the Loop’s newest residential tower is officially underway.

Work on 73 East Lake Street (formerly The Summit on the Lake) has actually been happening for several weeks. But now that the underground portion of the building is done, the tower crane is in place, and the building is ready to become part of the Chicago skyline, an official groundbreaking ceremony was held this morning.

M&R Development’s 42-story building will climb 471 feet into the sky on a tight right-angle lot facing both north onto Lake Street and Wabash Avenue as it wraps around the MDA City Apartments. It was formerly the site of a small parking garage.





 

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Hi all, I'm new to these forums. I found this site while doing Google searches on the construction of this building... (which happens to be across the street from my 4th floor office window on Wabash...) to find out more about what the building will become.

Just out of sheer curiosity / interest in the construction process, I have been snapping pictures of the construction progress from my 4th floor office window since the construction started many months ago. I'm by NO MEANS a skilled photographer! I have simply been using my smart phone to snap pics every other day. My intent is to create an animated GIF file of with all the pics once the building is complete.

By the way, just a dumb little fact... did you guys know that this address (171 N Wabash) is also one of the locations of the final battle scenes in the 3rd Transformer movies? Here's an old pic I took a few years ago from my office window to compare the view of 171 N Wabash to the scene in Transformers 3....



I'm just about to leave the office, but later tonight, I'll post up a few of my (crappy) pics from the construction (as viewed from the 4th floor office across Wabash).
 
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