Jan 21, 2022 - Real Estate

Mega-developments to watch in 2022

Morton salt building

The Morton Salt building is getting a makeover. Photo By Raymond Boyd/Michael Ochs Archives/Getty Images

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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