CHICAGO (June 17, 2024) — Related Midwest today welcomed more than 200 guests, including city and state elected officials, project partners, labor leaders and community stakeholders, to celebrate the groundbreaking of phase one of 400 Lake Shore in downtown Chicago. The two-tower residential development will bring luxury and affordable living options to the prominent waterfront site within the Streeterville neighborhood, the last undeveloped parcel where Lake Michigan meets the Chicago River.
The first phase of 400 Lake Shore includes a 72-story, 858-foot tower on the northern end of the site that will comprise 635 rental apartments in a mix of studio, one-, two- and three-bedroom layouts. Related will designate 20% of the apartments, or 127 units, as affordable housing.
In conjunction with its development of the first tower, Related will also deliver the highly anticipated DuSable Park, named in honor of Chicago’s first non-native settler, Jean-Baptiste Pointe DuSable. In addition to making a $10 million commitment, Related will lead construction of the 3.3-acre park, located east of Lake Shore Drive and accessible via Founder’s Way—a planned extension of the Chicago Riverwalk that will also be completed as part of phase one. Including the park, 400 Lake Shore will offer 4.5 acres of publicly available space, including a plaza between the towers with amenities, a two-story podium and public art.
“Chicago is a city defined by innovation and tenacity, that continuously rises to meet challenges and exceed expectations,” said Curt Bailey, President of Related Midwest. “400 Lake Shore is the latest embodiment of this spirit and will set a new standard for vibrant, and equitable, urban living. I deeply appreciate everyone who has played a role in getting us to this pivotal moment.”
Phase one of 400 Lake Shore is being co-built by LR Contracting Company, Related Midwest's in-house contracting company, and longtime partner BOWA Construction. BOWA became the first African American-owned general contractor to co-build a high-rise in Chicago through its work on Related’s The Row Fulton Market, which opened last year.
400 Lake Shore will reinvigorate a site that has been vacant since the planned Chicago Spire ceased construction in the wake of the Great Recession. During the groundbreaking ceremony for 400 Lake Shore, guests signed a link beam that will be lowered into the site’s infamous cofferdam—a relic of the Spire that is being incorporated into the new design—to become a permanent part of the new structure and connect one side of the foundation to the other.
“The signatures on the link beam represent a diverse and experienced group of collaborators who have been working hard to bring 400 Lake Shore out of the ground,” said Don Biernacki, Executive Vice President of Construction at Related Midwest and President of LR Contracting Company. “As history has shown, a project of this magnitude is no simple feat. We’re proud to have assembled the team that will finally realize this site’s potential.”
The 70-foot-deep cofferdam will be filled by August of this year, with vertical construction of the concrete superstructure completed by October 2025. The first phase of 400 Lake Shore is slated for delivery in 2027.
Designed by the Chicago office of Skidmore, Owings & Merrill (SOM) with David Childs—the architect behind One World Trade Center and Related’s 35 Hudson Yards in New York City—the two high-rises have a distinctive waterfall profile, with outdoor terraces defining a series of setbacks. The towers will be set at an angle to each other, preserving sightlines for residents and forming a new gateway to the city. Their exteriors reference Chicago’s architectural history, including a reimagining of the classic “Chicago window” and metal detailing that evokes the rippling surface of Lake Michigan.
“400 Lake Shore is a generational development whose design incorporates a striking, cascading silhouette and subtle nods to Chicago’s architectural legacy,” said Ann Thompson, Executive Vice President of Architecture and Design at Related Midwest. “This dual-tower, gateway design will reshape Chicago’s lakefront. The site’s transformation will begin with the taller northern tower, whose intentional positioning will allow for sweeping views of the lake, river and skyline.”
Building interiors were designed by MAWD, which previously partnered with Related Midwest on The Row. Stantec is serving as the architect of record.
Construction financing for the tower and public improvements, including the completion of the Chicago Riverwalk to DuSable Park, was a collaboration between the Illinois Housing Development Authority (IHDA), Wells Fargo, Bank of America N.A., PNC and other leading financial institutions.
“After a robust community review process, this development will deliver infrastructure, traffic and public safety improvements, entirely funded by Related Midwest, in addition to the highly anticipated improvements to DuSable Park,” said 42nd Ward Ald. Brendan Reilly. “I am grateful for the developer’s commitment to collaboration and investment in downtown Chicago.”
“The original Planned Development designation for this area, and subsequent amendments, helped guide River East's transition from industrial to mixed uses. These were really positive changes that underscored the area's growth as a place to live, work, play and invest. Yet this site managed to elude vertical construction – until now,” said Ciere Boatright, Chicago Department of Planning and Development Commissioner. “On behalf of Mayor Johnson, I’d like to congratulate Related Midwest, Alderman Reilly and the entire project team for this significant investment in the site and the city's future.”
“We are so pleased to join Related Midwest to break ground on 400 Lake Shore, which paves the way for the future, and long-awaited, Jean-Baptiste Pointe DuSable Park. Named in honor of Chicago’s first non-native settler and his wife, Kitihawa, a member of the indigenous Potawatomi tribe, this park will epitomize the meaning of public-private partnership,” said Chicago Park District General Superintendent and CEO Rosa Escareño. “Thank you to Related Midwest, Alderman Brendan Reilly, the city of Chicago, the U.S. Army Corps of Engineers, EPA and the DuSable Park Steering Committee who, over the past months, have contributed to devising a vision that emphasizes the importance of this project and the value of building a park that embraces Chicago’s history and elevates our city’s rich culture. We look forward to sharing more details about the wonderful new addition to Chicago’s crowning jewels, including the design curated to attract residents from across the city.”
“BOWA has a long history of partnering with Related Midwest and LR Contracting, and we’re honored to be a part of the team behind the transformative 400 Lake Shore towers,” said Nosa Ehimwenman, President and CEO of BOWA Construction.
“The design of 400 Lake Shore is a testament to the architectural ingenuity and collaborative spirit that define Chicago,” said architect David Childs. “The tower’s tapered profile acknowledges the historical context and environmental conditions of its site, creating vital connections to cherished public spaces. We’re thrilled to join our partners in celebrating this transformative addition to our city.”
“MAWD is proud to have worked on the interior program for 400 Lake Shore,” said Elliot March and James White, MAWD co-founders. “Drawing inspiration from SOM’s masterful exterior architecture and the natural beauty of Chicago’s lakefront, the interior program elevates the splendor of city living through Art Deco elements that reach back to Chicago’s rich architectural history.”
“400 Lake Shore will be transformative in so many ways—for the city’s skyline, for DuSable Park and especially for the residents of the development’s 127 affordable apartments,” said IHDA Executive Director Kristin Faust. “Chicago is a world-class city in large part because it offers housing and opportunities for families of all incomes and backgrounds, and IHDA is proud to be a part of this effort that has made inclusive, mixed-income communities a priority for the city’s future.”
“Wells Fargo is excited to be involved in this innovative development, which will improve the Chicago waterfront and deliver much-needed affordable housing to the area,” said Brian Lucey, Managing Director at Wells Fargo. “Related Midwest aligns with our priority to create and preserve affordable housing in the communities in which we live and serve.”
“Our investment in the iconic 400 Lake Shore is an important part of HIT’s commitment to Chicago,” said Lesyllee White, Chief Marketing Officer of the AFL-CIO Housing Investment Trust. “We have nine active construction projects that are generating thousands of homes and union construction jobs, and positively impacting this great city. 400 Lake Shore is the 67th project in which the HIT has invested in Chicago, creating a total of 14,773 residential units and 24 million hours of union construction jobs.”
“With market rents rising beyond the reach of many families in the U.S., PNC Tax Credit Solutions is working with developer partners and investors to increase the supply of affordable rental options,” said John Nunnery, Senior Vice President and Manager of Originations at PNC. “We are proud to work with Related Midwest to bring additional affordable housing to the Chicago community.”
Related Midwest: Tricia Van Horn (312) 832-4114 tvanhorn@relatedmidwest.com
