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Chicago & Midwest  + Illinois  + Office  | 

Chicago’s Development Pipeline Tops $20B

The development pipeline in Chicago has exceeded $20 billion, with at least 10 developments envisioned to cost $1 billion or more in the works. The megaprojects are spread across a wide array of product types, though are primarily centered in downtown, and reflect an urban migration trend.
Factors contributing to the construction boom include 60 companies relocating HQ’s to downtown Chicago, low interest rates, years of increased real estate values, changing preferences of office and residential tenants, new zoning policies and healthy investment appetites of big funds and wealthy foreign investors.

Among the notable Chicago projects include:

  • Magellan Development Group’s 94-story, $1-billion Vista Tower condominium and hotel (pictured)
  • Related Midwest’s $5-billion+ 62-acre site along the Chicago River
  • Sterling Bay’s more than 40 acres on and around the North Side river site
  • Chicago Cubs owners’ redevelopment of Wrigley Field and surrounding properties
  • Main post office conversion into modern offices and retail
  • Blackstone Group’s retail and entertainment enhancements at Willis Tower
  • Riverside Investment & Development’s $1-billion+ Union Station redevelopment
  • Riverside Investment & Development’s 51-story Wacker Drive office tower
  • Crescent Heights’ 76-story One Grant Park residential

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at Chicago Tribune

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
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