Site prep underway for 41-story South Loop tower

Site work is in full swing along the south branch of the Chicago River for an upcoming 41-story residential high-rise known as The Reed at Southbank. Although construction on the building's foundation isn't expected to start until this summer, crews from Lendlease (which serves as both developer and contractor on the project) are moving dirt at 234 W. Polk Street in anticipation of groundbreaking.

Designed by Perkins + Will, The Reed will rise 447 feet above the Chicago River, just north of Bertrand Goldberg's River City. When complete in the summer of 2023, the South Loop high-rise will feature 224 apartments plus 216 for-sale condos priced from $400,000 to $1.4 million. Amenities include an indoor/outdoor fitness center, coworking spaces, a lounge, a sports simulator, and an eighth-floor pool deck with grilling stations, fire pits, and an outdoor kitchen. 

The Reed represents the second phase of the 7-acre Southbank development. A 29-story apartment building known as the Cooper opened in 2018 and was followed by the completion of Southbank's 2-acre publicly accessible park and riverwalk. Future phases of the Southbank plan call for 40- and 42-story residential towers along the site's northern edge.

"Prep work on the site has commenced and we are excited for what's to come at The Reed, which represents the first for-sale offering in our Southbank master plan," said Ted Weldon, executive general manager of development in Lendlease's Chicago office. "This summer will be an urban homecoming for many, and we are pleased the groundbreaking of The Reed will coincide with the city's continued revival."

"Since launching sales at The Reed, we have seen strong interest from buyers who understand what a rare opportunity this is–to own a home along the downtown riverfront. We expect this momentum to build with each construction milestone," Weldon told Urbanize in a statement.