Mega-developments to watch in 2022
2022 looks to be a big year for development — mega-development.
Why it matters: New projects on the North and South sides of Chicago could change the way we look (and live) for years to come.
Large developments plans this year include:
🏗 Lincoln Yards: Drive down Elston Ave. near North Ave. and you can see the $6 billion Lincoln Yards project starting to take shape. Well, at least the empty lots it will be built on.
- The 55-acre project will take years to complete and will forever change the North Side of Chicago.
🧂 Morton Salt: Speaking of Elston, the old Morton Salt building along the expressway is being renovated into an office building and music venue.
- Construction should be finished later this year.
🚧 The 78: If Lincoln Yards will transform the North Side, the $7 billion "The 78" development will do the same for the near-South Side.
- Construction has begun on the biggest development in Chicago history, with Phase 1 expected to be complete in 2024.
- It's called The 78 because planners expect the finished community just north of Chinatown to be big enough to be considered Chicago's 78th neighborhood.
🚉 One Central: This mega-development is planned for the South Loop near Soldier Field.
- Developers are pushing the state to pay for a new transit hub with a train station.
- The first phase of construction could begin later this year if the state agrees to fund the transit hub, but the mayor was not convinced as of last fall.
🏦 United Yards: A retail and housing development chosen by the city's Invest South/West initiative, it would be located around 47th and Ashland Ave. in the Back of the Yards neighborhood.
🛋Luxury condos: A slew of luxury condos are being developed in 2022, including a new building in the West Loop where units could cost up to $6 million.
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