400 Lake Shore Dr
21-Jun-24 – The 104-foot-diameter 78-foot-deep cofferdam, drained of water and now enclosing the below-ground portion of 400 Lake Shore, will be filled in by August of this year, according to the developer of the 72-story residential tower under construction along the Chicago River.
At a ceremonial groundbreaking on June 17, attended by more than 200 guests, Related Midwest again emphasized that 127 of their 635 new rental units will be “affordable,” meaning the units must be affordable to residents with household incomes between 30 and 50 percent of the Area Median Income. That is a requirement for the $500 million in financing obtained mostly from tax-exempt bonds issued by the Illinois Housing Development Authority.
Construction officially started in early January. The taller northern tower will be built first, with its concrete superstructure expected to be completed by October 2025 and the tower entirely finished in 2027. The first phase will include DuSable Park, a 3.3-acre public park on the east side of Lake Shore Drive, accessed from a 19-to-26-foot-wide walkway passing under Lake Shore Drive. The park must be finished before Related Midwest can receive a certificate of occupancy from the City of Chicago for the north tower. Previous story: Construction starts at 400 Lake Shore |