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Construction resumes for $500 million tower on Chicago waterfront

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$500 million tower on Chicago waterfront at 400 lake shore

Construction developer Related Midwest has resumed construction on the new skyscraper at 400 Lake Shore in Chicago after experiencing more than 10 years of delays and revisions. Sitting alongside the Chicago River on Lake Michigan for almost 20 years, the site has been left with just the foundation hole. Construction commenced in the spring of 2024, and by the start of 2025, the new tower had finally reached street level. 

The ill-fated tower on the Chicago waterfront was initially meant to host The Spire, a tall, thin skyscraper from architect Santiago Calatrava. The project was canceled due to financial and logistical problems on the developer’s side. Construction plans were thrown out in 2016 after years of legal disputes. If completed, it would have been the tallest building in the world at that time. 

A creditor on the original project, Related Midwest has restarted construction following a redesign in 2020 that included a significant reduction in tower height. The new project will feature a pair of twin skyscrapers, with the taller reaching 76 stories, as authorized by the local planning commission. The two towers on the Chicago waterfront will mirror each other and have a large gap to thoughtfully frame Chicago’s downtown core from the water. 

The north tower is the first objective, with the foundation already laid and construction picking up after reaching street level. This tower is projected to be complete in 2027. From there, the construction of the second tower will break ground. 

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