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Eterra Plus, Crescent Heights Plan Downtown Chicago Towers

Two more developers, Eterra Plus LLC and Crescent Heights, are making long-term plans to build in downtown Chicago, COVID-19 notwithstanding, the Chicago Tribune reported. The projects in the South Loop and the Near West Side would add three towers to the landscape.

Eterra Plus proposes two towers at 525 S. Wabash Ave., and hopes to start building by next fall. That $300-million proposal includes a 23-story building with 314 hotel rooms and 261 apartments and a 36-story tower with 516 apartments.

Unlike the Eterra Plus project, the 47-story tower Crescent Heights hopes to build at 640 W. Washington Blvd. would require a zoning change. It would include up to 413 apartments.

“We believe in the continued theme of a ‘work-live-play’ dynamic and believe the site offers the same, if not more, of the attributes post-COVID as it did pre-COVID,” Crescent Heights VP Jason Buchberg told the Tribune.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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