Related Midwest celebrates groundbreaking of 400 Lake Shore Drive

Related Midwest yesterday celebrated the groundbreaking of phase one of 400 Lake Shore in downtown Chicago. The two-tower residential development will bring luxury and affordable living options to the prominent waterfront site within the Streeterville neighborhood, the last undeveloped parcel where Lake Michigan meets the Chicago River.

“Chicago is a city defined by innovation and tenacity, that continuously rises to meet challenges and exceed expectations,” said Curt Bailey, President of Related Midwest. “400 Lake Shore is the latest embodiment of this spirit and will set a new standard for vibrant, and equitable, urban living. I deeply appreciate everyone who has played a role in getting us to this pivotal moment.”

Designed by Skidmore, Owings, & Merrill, the first phase of 400 Lake Shore includes a 72-story, 858-foot tower on the northern end of the site that will comprise 635 rental apartments in a mix of studio, one-, two- and three-bedroom layouts. Meeting ARO requirements, 20% of the apartments, or 127 units, will be affordable housing. Building interiors were designed by MAWD, with Stantec serving as the architect of record. 

In conjunction with its development of the first tower, Related will also deliver the highly anticipated DuSable Park, named in honor of Chicago’s first non-native settler, Jean-Baptiste Pointe DuSable. In addition to making a $10 million commitment, Related will lead construction of the 3.3-acre park, located east of Lake Shore Drive and accessible via Founder’s Way—a planned extension of the Chicago Riverwalk that will also be completed as part of phase one. Including the park, 400 Lake Shore will offer 4.5 acres of publicly available space, including a plaza between the towers with amenities, a two-story podium and public art.

Construction financing for the tower and public improvements, including the completion of the Chicago Riverwalk to DuSable Park, was a collaboration between the Illinois Housing Development Authority (IHDA), Wells Fargo, Bank of America N.A., PNC and other leading financial institutions.

During the groundbreaking ceremony for 400 Lake Shore, guests signed a link beam that will be lowered into the site’s infamous cofferdam—a relic of the Spire that is being incorporated into the new design—to become a permanent part of the new structure and connect one side of the foundation to the other. The 70-foot-deep cofferdam will be filled by August of this year, with vertical construction of the concrete superstructure completed by October 2025. LR Contracting Company and BOWA Construction will deliver the first phase of 400 Lake Shore in 2027.