Related Midwest Chicago ‘Developer of the Year’

Luxury rentals at Wacker & Clark will be called ‘OneEleven’

30-Mar-14 – The company that is opening 111 West Wacker this summer has been named Chicago’s “Developer of the Year” at the Chicago Commercial Real Estate Awards.

(Left) Mostly-finished 111 West Wacker on January 26, 2014. Across Wacker Drive, barges have been positioned to help build the stretch of the Chicago Riverwalk between Clark and LaSalle Streets. (Click on images to view larger versions.)

Related Midwest, which purchased the stalled Waterview/Shangri-La project in 2011 and steered it from offices and hotel rooms toward luxury rental units, received the award on March 20 at the Hilton Chicago. A panel of judges selected Related Midwest and winners in 14 other categories. The event benefited the Greater Chicago Food Depository.

Related says it invested more than $1 billion in new residential development last year. It developed or renovated 1,700 new residences, more than any other developer in Chicago, according to the company.

The riverfront rental property, which will be called OneEleven, is a 60-story, 504-unit self-described “ultra-luxury” tower designed by Handel Architects of New York. The interior designer is Kara Mann Design of Chicago. Lend Lease is building it. The 929,894 square foot building will include 33,210 square feet of retail space.

In addition to OneEleven, Related Midwest has recently developed a 500-unit luxury rental building at 500 North Lake Shore Drive, which ten months after opening is 95 percent leased.

(Above) Related Midwest personnel at this year’s Chicago Commercial Real Estate Awards, where they were named the city’s Developer of the Year. In the front row, holding the award is company president Curt Bailey. Photo obtained from Related Midwest.

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