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 | Sep 7, 2016
Shenzhen Kingkey Group submits re-planning package for what could become China’s tallest tower
The high-rise, H700 Shenzhen Tower, is one of a group of towers being built in Shenzhen’s Caiwuwei financial and commercial area.
High-rise Construction | Sep 6, 2016
Peddle Thorp Architects' solar-powered Melbourne high-rise looks to go off the grid
The skyscraper would be the first in Australia to incorporate solar cells in its façade.
High-rise Construction | Aug 22, 2016
Tall buildings with a twist: CTBUH ranks the world’s 28 tallest twisting towers
In 2005, the Turning Toroso, designed by Santiago Calatrava, was completed, making it the first twisting skyscraper in the world.
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