Developer gives a glimpse of a big project near Millennium Park
One of Chicago’s busiest real estate developers may be cooking up plans for something big on a site near Millennium Park that has sat fallow for decades.
A unit of CA Ventures has taken out advertisements in a trade publication prominently featuring a rendering of a tall tower on the parcel at the northwest corner of Lake and Stetson streets. The 40,600-square-foot lot may be best known as the site of a planned Mandarin Oriental hotel and luxury condominiums. That project wound up in foreclosure during the real estate bust and the land was put up for sale more than two years ago.
CA’s plans for the East Loop site are a bit of a mystery. The ads in newsletter Real Estate Alert include no specifics about the project, just its location in Chicago, but the unit that took out the ads, CA Residential, specializes in apartments. CA executives did not return calls or emails.
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