Two parcels of land along Wacker Drive, one occupied by a small park and plaza and another by a parking lot, could soon be the site of twin 48-story office towers from architect Kohn Pederson Fox and developer Murphy Development Group.
Containing 1.2 million sf of office space each, the two land parcels, 301 S. Wacker and 321 S. Wacker, are located just south of the Willis Tower, Curbed Chicago reports. According to Crain’s, Murphy Development Group expects the project to cost more than $800 million. Closing on the two parcels of land with is expected to occur before the end of the year, but specific terms of the deal between Murphy Development Group and InSite Real Estate are not known.
Kohn Pederson Fox has already completed design work on the project and zoning is already in place. Once a deal is signed, construction is expected to take less than two years. However, neither tower is expected to begin construction until tenants are secured.
Related Stories
High-rise Construction | Aug 1, 2016
Rising to the occasion: Dubai shows some pictures of proposed 500-step structure
Still in the planning stages, this building would serve tourists and power climbers alike.
High-rise Construction | Jul 26, 2016
Perkins+Will unveils plans for what will be Atlanta’s second-tallest tower
The 74-story 98 Fourteenth Street will be a mixed-use building with retail space and luxury residential units.
Concrete | Jul 20, 2016
Arup ensures Mexico City concrete skyscraper can withstand seismic activity
Double-V hangers and irregularly spaced gaps allow the structure to bend.
High-rise Construction | Jul 15, 2016
Zaha Hadid designs geometric flower-shaped tower for sustainable Qatar city
The 38-story building will have a mashrabiya latticed facade with hotel and residential space inside.
High-rise Construction | Jul 14, 2016
New San Francisco mixed-use tower billed as most earthquake-resistant building on the West Coast
A megabrace is a key seismic component at 181 Fremont, with offices, residences, and retail space.
High-rise Construction | Jul 14, 2016
Shigeru Ban designs tower expected to be world’s tallest hybrid timber structure
To lessen the carbon footprint, Terrace House in Vancouver will be made of wood sourced from British Columbia.
High-rise Construction | Jul 12, 2016
Three-tiered, 57-story high-rise development from Arquitectonica coming to Miami
The structure will be the tallest building in the Edgewater District
Office Buildings | Jul 11, 2016
CetraRuddy designs office tower for Manhattan’s Meatpacking district
Plans originally called for a hotel, but the architect and developers adapted their design for commercial use.
Contractors | Jul 4, 2016
A new report links infrastructure investment to commercial real estate expansion
Competitiveness and economic development are at stake for cities, says Transwestern.
High-rise Construction | Jun 29, 2016
Best Tall Buildings around the world favor unusual shapes and hybrid functions
The Council on Tall Buildings and Urban Habitat selects winners in four regions.
