Loop Development Debacle: The Waterview Tower Saga Continues...

Loop Development Debacle: The Waterview Tower Saga Continues...
Chicago's Unfinished Waterview Tower- Courtesy Chicago Tribune

Back in October, we posted about the atrocity that was/is this half-finished concrete monstrosity.

Since 2008, this 27 story concrete parking garage has been sitting there unfinished and unused.  (The exception being the parachuter back in April.)

Now it seems that Related Midwest is the Waterview's knight in shining armour.  They have finalized the deal and are now, officially, the new owner.

According to Crain's "Related aims to begin construction in first-quarter 2012 and complete the project 18 to 24 months later."

What is the new plan?  Why apartments - of, course.  Like almost every other stalled/failed development downtown, this baby is going rental.

Will another rental building be a good bet for the loop?

 

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