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
Game Changers | Feb 5, 2016
Asia’s modular miracle
A prefab construction company in China built a 57-story tower in 19 days. Here’s how they did it.
High-rise Construction | Feb 2, 2016
This tall tower will lower your heart rate
Matthias Olt, Associate Vice President at CallisonRTKL, discusses new ways to improve individual health and well-being through tower design.
High-rise Construction | Jan 25, 2016
BIG unveils new renderings for NYC towers at 76 Eleventh Avenue
The twisty, asymmetrical condo complexes will have office space instead of a hotel.
Mixed-Use | Jan 25, 2016
SOM unveils renderings of dual-tower Manhattan West development
The five million-sf project includes two office towers, a residential tower, retail space, and a new public square.
High-rise Construction | Jan 13, 2016
With the completion of NY’s 432 Park Avenue, there are now 100 ‘supertall’ skyscrapers in the world
That makes it an even 100. With the completion of 432 Park Avenue in New York City, the number of so-called “supertall” buildings (buildings standing at least 300 meters tall) in the world has reached the century mark, according to the Council on Tall Buildings and Urban Habitat.
High-rise Construction | Jan 12, 2016
Luxury high-rise is Zaha Hadid’s first foray into South America
The Casa Atlantica is planned for Copacabana beach in Rio de Janeiro, Brazil.
High-rise Construction | Jan 12, 2016
Renzo Piano's curved glass tower planned for NY's Soho neighborhood
The 25-story tower is a residential building with 115 apartments and plenty of amenities.
High-rise Construction | Jan 11, 2016
World’s second-tallest building (for now) is completed in China
Shanghai Tower makes up a trio of supertall buildings in that city’s commercial district.
High-rise Construction | Jan 7, 2016
Zaha Hadid designs a tower of 'stacked vases' in Melbourne
The structure is supported by sets of curved columns that taper to four different base heights.
High-rise Construction | Jan 4, 2016
Top high-rise innovations of 2015
A crowdfunded skyscraper in Colombia and Jerusalem’s wild, pyramid-shaped tower are among the landmark projects featured in the Council on Tall Buildings and Urban Habitat’s annual yearend review.
