High Profile South Loop Real Estate Lot Up For Sale

The empty parcel of land nestled next to the Chicago River on the west, Wells on the East and Harrison on the North is up for sale according to the Chicago Sun-Times. This high profile and huge lot has been rumored for various mixed-used developments, but those plans never materialized as a result of the economy (among other things):

The property is eight acres at the southwest corner of Harrison and Wells, which several investors have taken a crack at. It has been vacant since 1971, when the Grand Central Station rail terminal was torn down, to the horror of people who loved the architecture.

Russland Capital Group Inc. of Skokie owns the largest part of the tract, 6.6 acres, and is marketing it for $41 million. The remaining 1.5 acres is at the corner. Its owner, D2 Realty Services Inc., is trying to sell it, but a price could not be learned. It had tried to peddle it for $15 million, but the contract never closed.

Russland's part includes frontage on the Chicago River, so developers have eyed it for a residential and retail mix. The housing collapse and credit squeeze upset those plans.

It's a great piece of property and hopefully turns out well. The Sun-Times article also references that a smaller lot at that intersection is up for sale, but according to an email from a reader who lives in the area, she received an application notification for a new parking lot:

The Property is located at the southwest corner of Harrison and Wells Streets and is currently vacant. The Applicant proposes to improve the Property with a non-accessory parking lot for 218 vehicles. The parking lot will contain perimeter and internal landscaping. It will operate twenty-four hours a day, seven days a week.

Here is a map from the Sun-Times. The striped portion is where the proposed parking lot will be built. The other portion of the map is up for sale.

(Hat Tip: DM & FGFM!)

More Clarity on Divvy Bike Stations in the Sloop

We like biking as a form of exercise and as an alternative to other modes of transportation in the city.  And as you can imagine we're pretty excited to see the city's bike sharing program role out soon.

If you recall, back in October of 2012 we did a post about suggesting locations to the CDOT.  Slowly but surely the Divvy (the name of the program) has been announcing the new locations.  And as we get closer to the official launch date (mid to late June), they've finally announced 380 of the 400 planned stations.

While the map in the Chicago Tribune article isn't interactive (the Divvy facebook page says an interactive google map version will come out later this week), we still can see where most of the stations will be located in the Sloop:



From what we can tell, the stations set to open in the Sloop in June consist of:

• Roosevelt and Wabash
• 8th and Wabash
• Harrison and State
• Congress and Michigan
• Congress and Clark
• Congress and Clinton (maybe not in the Sloop)
• Shedd Aquarium
• Chinatown CTA Stop (Red line)

Beyond that, it appears we will get additional locations at a later date:

• Harrison and Canal
• Polk and Wells
• Roosevelt Collection
• Agora Statues (Roosevelt and Indiana)
• 14th and Michigan
• Roosevelt and Clinton
• Canal and 14th 
• 16th and State
• 18th and State
• 18th and Prairie 
• 18th and Clark
• 18th and Canal
• McCormick Place
• Cermak and Wabash

We may be slightly off on the list above since it's tough to see exact locations.  Regardless, it seems like the Sloop has pretty good coverage.

Any surprises?  What are your thoughts on this program?

Power Plant Coming to Printers Row Area?

We received two emails yesterday from concerned residents questioning recent letters they received from Midwest Generation:

Hi Sloopin,
I came home today to a letter from Midwest Energy stating they are building a power plant at Harrison and Wells. See attached copy of the letter. Any information on this? I certainly don't recall a public hearing for anything on that land other than a parking lot to the north of River City.
Thanks!!

Here is the second, which talks about a drawing with two smoke stacks:

I live at Financial and Polk and received a very disturbing (and poorly written) letter today - that Edison International's Midwest Generation (a subsidiary) has bought the vacant lot at the corner of Wells and Harrison - and they are breaking ground on a new generation station - coal powered - with 2 smoke stacks (according to the drawing). Now, we get letters all the time when developers decide they want to do add a parking lot, or change from 2 condo towers to 1 - but we get nothing about a power generator (like the one in Pilsen) until it's a done deal?? Had you guys heard about this? Have other sloopers gotten the same letter? And is there anything we can do about it??

It appears that these letters are just coming out now, but this is new news to us (and we didn't receive the letters presumably because we don't live that close to the site).

Anyone else get the letter or have any background on this new power plant that's coming to the neighborhood?

As you may or may not recall, around the same time last year there was a big fuss from some residents about a BMX tournament coming to this lot. Our guess is that most residents would rather have that than a power plant.

UPDATE, just received this pamphlet from a reader:
(Hat tip: LB & BC!)

Riverline Master Plan Announced and Approved; Has Us Dreaming About a Huge Riverwalk

The Chicago Architecture Blog has a big article on a huge plan being dubbed "Riverline".  While all the information isn't new, this is the first comprehensive announcement of the master plan as far as we've seen:

Downtown Chicago’s newest planned community can officially make the transition from paper to reality. Today the Chicago Plan Commission approved the construction of Riverline. 

Riverline is a joint development between CMK and Australian mega-developer Lend Lease south of Harrison Street, north of Roosevelt Road, and sandwiched between South Wells Street and the Chicago River. 

It was designed by Ralph Johnson at Perkins+Will and includes five skyscrapers ranging in height from 380 to 600 feet, three mid-rise buildings, and a number of townhouses. In total the city approved 2,699 residences, about 16,000 square feet of retail space, and lots of public open space and pathways.

To be honest, this announcement is tough to comprehend mostly because the numbers are insane.

While it's fun to dream, it seems unrealistic to think that this will play out as designed.  After all the entire plan wouldn't be expected to be completed until 2023 and 2025 (seems hard to imagine that this cycle of real estate development will continue that long - but what do we know).

Anyway, it does sound like the first part of the plan will be getting underway soon:

The preview sales program for the first phase offering is scheduled to launch in early 2016, with construction anticipated to begin in the first quarter of 2016. Phase 1 is planned to include a 19‐story 278‐unit condominium building and 62 fee‐simple townhomes south of Taylor Street, a 29‐story 452‐unit multi‐ family building north of Polk Street, 31⁄2 acres of open space south of Harrison Street and the entire River Walk from Harrison Street to Roosevelt Road.

While it seems like it will be good to activate this relatively sleepy area of the Sloop, the major jewel in this crown is the announcement of 1/2 mile of river walk being built from Harrison to Roosevelt.

This is a pretty big deal assuming it actually happens.

Why?  Well it seems like it will be paving the way for the Sloop to have a full on river walk.  We know Ping Tom Park has a nice park/river walk.  We assume whatever comes of the Related Midwest plan south of Roosevelt along the river will also have a river walk.

Could we eventually be able to walk along the river (in an intentional manner) from Chinatown all the way to Harrison?

Could our South Loop river walk ever be connected to the Loop's river walk?

We have a long way to go, but we can dream, right?

What do you think?  Will we ever be able to walk from Chinatown along the river, uninterupted to Lake Michigan (via the Loop river walk)?  We're taking bets.  In the year 2040?

(Hat tip:  PO & WL!)

Title Boxing Coming to Roosevelt Collection? And an Update On 611 Eatery

A reader gives us a bunch of tips:

So I think I have some nuggets of info for you:  

The first one I have is that I'm like 90% positive Title Boxing is going in at the Roosevelt Collection. I go to the West Loop location in Greektown since it opened and I have heard from more than one individual, including the owner, that they are going in there. So that's pretty cool! 

The second one I have is that there are a bunch of bulldozers and earth movers at the open space across from the Vetro at Wells and Harrison. Having said that, there are still quite a few tents along the river there where homeless squatters live, but it looks like progress is starting to happen on the proposed five building complex!  

Speaking of the Vetro, where I live, we have gotten several notices that there is construction going on in the north retail space, aka where the 611 Eatery is supposed to go. Well. I was heading to the gym yesterday morning when I saw some gentlemen stripping down those wall decals of various Asian dishes out of the windows. I took a quick peek inside the open door and it is still very, very bare and raw inside. That said, the windows are now back to the original white they had in the windows before construction started. I asked a few of the doormen and women if they knew what was up and they all rolled their eyes- don't forget, that place was supposed to be open last summer. My money is on the fact they have given up. I mean, seriously, it looks like zero progress on the inside was made. I will definitely keep an eye on this, but now, I will no longer be able to giggle at the confused people coming in the lobby of the Vetro asking how to get into the restaurant.

Not super surprising about 611 Eatery.  We posted about this about a year ago and were skeptical about the concept.  Good news about Title Boxing.  We will keep our eyes and ears to see if we get anything official.

(Hat tip:  CS!)

New Hotel and Condo Building Proposed for Vacant Lot on Wabash & Harrison

A new high-rise for the Sloop (via Chicago Tribune)?

An affiliate of Interforum Holdings proposes two towers that would replace a parking structure at 525 S. Wabash Ave., a project that also would front Ida B. Wells Drive (formerly Congress Parkway) and Harrison Street. That proposal includes a 23-story building with 314 hotel rooms and 261 residential units and a 36-story tower with 516 residential units, according to Reilly’s email.

The towers would connect to a low-rise podium with a grocery store and 151 parking spaces, Reilly said. The retail podium would include a second-floor restaurant, and it would be topped by an open-air amenities area.

The project, designed by BKV Group, does not require a zoning change, according to Reilly. The developer would pay more than $3.6 million into the Neighborhood Opportunity Fund, which goes toward grants to support projects in underserved areas of the city.

It’s unclear how soon Interforum wants to begin work, or how much it would cost. CEO Alex Zdanov did not immediately respond to a request for comment Monday.

This is the first time we've seen or heard about a proposal for this specific piece of land, but it makes sense as it's one of the few vacant lots still available in the neighborhood.  What is interesting is that a sliver of the building would front Ida B. Wells (formerly Congress).  There is not a lot of room between the Roosevelt College sports building and the Congress hotel.

It seems like a strange proposal for the current climate and economy, but it's not like this type of development is going to go up super quickly.  So maybe in a year or two, it will be ripe for residents?

Regardless, good to see developers still taking a swing at projects in the Sloop.    

Riverline Check-In: 1010 S. Wells Is 15 Floors Up, and Its Neighbor Is Stirring at 910 S. Wells

After a decade of watching dirt at Wells between Roosevelt and 9th, the Riverline site is finally doing skyline things. Chicago YIMBY reports that 1010 S. Wells has climbed to 15 of its eventual 21 floors, on the way to 388 apartments along the river.

And it won't be alone for long. Next door at 910 S. Wells, the second tower picked up its piles permit last month, per Urbanize Chicago. That one is planned at 28 stories and 314 feet, which would make it the taller of the pair.

If you've walked the riverwalk stretch south of Harrison lately, you've seen the wall of concrete going up. We're old enough to remember when this was all renderings and promises, so we'll take actual floors.

What do you think of how Riverline is turning out: good river frontage, or a concrete canyon in the making? Tell us in the comments.

Source credit: Chicago YIMBY and Urbanize Chicago.

Another Apartment Building Unveiled for the Sloop - This Time at SW Corner of Harrison and Wells

And the buildings keep on coming....(via curbed):

Chicago’s booming South Loop could soon welcome yet another apartment project, this time in the form of twin 14-story towers slated for the southwest corner of Wells and Harrison streets.

Known officially as Alta Grand Central, the development revealed its name and a single rendering via a new Instagram account late last week, first spotted by construction blog Building Up Chicago. Prior to that, the unnamed project was listed on May’s agenda of Chicago’s Zoning Board of Appeals (ZBA), as reported by Crain’s.

It seems crazy how much is being built...we will see soon if the demand is there. 

Regardless, we're big proponents of development as it fuels the cycle of growth in the neighborhood - buildings > people > restaurants > etc. 

Blogging the Creation of the BMX Course

Two weeks ago we posted about the Red Bull BMX event that is rumored to be happening at Wells and Harrison on May 15th and were excited to see a commenter/reader mention that they were going to be blogging and taking pictures of the creation of the course at their site Chicagosnacks.org:

Since my living room overlooks the lot and the future course, I’ve decided to cover the construction and implementation of the event on this here blog. If you’re interested in the politics and impact of the situation then check out South Loop blog, Sloopin’s coverage. I’ll be hanging out, shooting pictures and drinking a beer, watching dudes do flips on bicycles. Below are some photos from this morning.

Take a look at the link...it has some interesting pictures and should be fun to watch the progress.

(Hat Tip: Brian!)

Renderings Appear for Vacant Parking Lot at 601 S. Dearborn (Southeast Corner of Dearborn and Harrison)

The stretch of Dearborn between Polk and Ida B. Wells is the heart of Printers Row.  It's also one of the more interesting visual stretches of the South Loop given it's historic architecture and Dearborn Station's iconic clock tower staring down the street.

We've always maintained that Dearborn was the most likely candidate to serve as a unique, neighborhood defining retail strip.  In recent years, much progress has been made as some of the vacant lots have been built on (see the just opened Roots Handmade Pizza and Toto's Market).  

That is why we were interested to see a reader send us an email with plans for the largest and only remaining vacant lot on the street at the Southeast corner of Harrison and Dearborn.  A reader writes and sends us this:

While I'm all for developing this lot, I'm totally against this crap box proposal by FitzGerald for our historic neighborhood. Interested to hear feedback from other Sloopers.

It's hard to know how this would turnout, but the rendering above does feel as if it isn't very "classic" and ultimately wouldn't fit in with the historic look and feel of this stretch of Dearborn.  

Maybe the first couple of floors would?  It seems as if they have a different color so maybe that would be old brick (similar to what Roots and Toto's has further south).

It certainly would be good to develop this lot as it would only further cement this stretch as THE MAJOR restaurant/retail corridor for the neighborhood.  

It looks like the date on these renderings was November 2019.  So they're pretty recent...but pre-pandemic so who knows what the current state of thinking is on this project.

(Hat tip:  KK!)

Follow-up on the Infamous Coal Plant PR Stunt

Additional info continue to emerge and it appears it's a PR stunt (as discussed in previous posts). Although we're sure many of the concerned residents, the alderman's office and general electric aren't happy, we applaud the creativity behind the PR stunt.

WBEZ has a good post and video:


And to be fair we received this from Midwest Generation:

Hi Sloopin,

Midwest Generation is a client of mine, so we noticed your two blog posts and resulting conversation in the comments today regarding the hoax.

Below is a statement from Midwest Generation:

A letter and pamphlet circulated in recent days to residents of the South Loop and a press release issued today claiming to be from Midwest Generation to announce construction of a power plant in the city are fake.

The materials also refer to a fake Midwest Generation website and twitter account, and have photos
and names of supposed Midwest Generation employees which are also fake. Those behind this hoax also misappropriated Midwest Generation's letterhead and logo.

None of these materials came from Midwest Generation, which owns six power plants and a wind farm in the state of Illinois. Midwest Generation is not building a new plant in the city of Chicago.

There also was a protest against the fake plant on April 27 near the intersection of Harrison and Wells.
It is unclear if the "protesters" were the perpetrators of the fraud or were duped by it.

Regards,

JAMES CHASE
Account Executive
Jasculca/Terman and Associates, Inc.

So there you have it. No coal coming to the South Loop. Take note of Pilsen's problems (and others). And life goes on...

(Hat tip: SC!)

Bike Lane Proposed for Wabash Between Roosevelt and Harrison

Wabash Avenue continues to get upgrades.  This time a bike lane has been proposed for Wabash between Roosevelt and Harrison.  This is great news as it will connect to the bike lane that was created on Wabash in 2011.

The news comes from Grid Chicago:

In addition to the Roscoe Street buffered bike lane installed last week, and a segment on Wabash Avenue installed in 2011, the Chicago Department of Transportation (CDOT) has proposed these locations for buffered bike lanes, a total of 4.50 miles:

• Clark St from Walton to North 

• Ellsworth Dr from Garfield (55th) to King (51st) 

• Wabash Ave from Roosevelt to Harrison 

• Wells St from Chicago to Van Buren (originally proposed in 2010)

Mayor Emanuel promised 25 miles of protected bike lanes per year of his term. His first year anniversary is May 16, seven days away. The City has currently installed 2 miles of protected bike lanes.

So what's a "Buffered Bike Lane"?  It's essentially what we have on Wabash South of Roosevelt.  It's a wide lane with clear markings identifying where bikes belong.

This is different than a "protected bike lane".  A protected bike lane is what was installed on 18th street between Clark and Clinton last year.  The protected bike lane's have plastic pylons that create a barrier between motorists and bikers.

"Buffered Bike Lane" on Wabash
From Grid Chicago

"Protected Bike Lane" on 18th street
Image from Let's Go Ride a Bike

Riverline Development Starts Construction at 1010 S. Wells

The Riverline development was announced way back in 2015 and almost 10 years later the project is finally underway at 1010 S. Wells (via Urbanize Chicago):

Renderings have been released for 1010 S. Wells, the first building to be constructed at Riverline in the South Loop.  Developed by CMK Companies, the project will be located along the South Branch of the Chicago River at the intersection of S. Wells St and W. 10th St. 

With Gensler behind the updated design, the 21-story tower will stand 227 feet tall. As part of the redesign, the building has shifted from 286 condos to 386 apartments. The building’s parking count has been reduced from 240 spaces to 182 parking spaces. The building will include 2,904 square feet of retail space on the ground floor. 

The article goes onto say that there will be retail that will be accessible via Wells and most importantly this will also have a public river walk that hopefully one day will allow you to walk from Harrison all the way south to Ping Tom Park in Chinatown.

While CMK's buildings are usually modern and glassy - they're pretty straightforward.  This one looks a little better in our opinion - maybe because it's on the river?!?  

This isn't the only project CMK is working on at the moment - they have four (yes 4!) buildings under construction in the Sloop (according to Yimby Chicago - 1730 Wabash (red) – 1700 Wabash (green) – 1630 Wabash (yellow) – 1717 Michigan (orange):  

Signs Go Up for 611 Eatery at Vetro Condo Building

611 Eatery looks to be coming to Vetro Condo Building (611 S. Wells)

A reader writes:

This signage just went up at the Vetro condo building at 611 S. Wells. The website on the sign doesn't seem to be up, and I don't know anything else about it. Maybe another reader has. 

The space, at Wells and Harrison, has been empty since the building opened, so it would be nice to have something there.

If the pictures in the windows are true, this could be a great restaurant and a great addition to the Sloop:

Does anyone have any additional info on the spot?

(Hat tip:  JJ, MOR, BS, KB!)

Be Prepared: Construction Updates for the Jane Bryne Interchange

If you're a driver in the Sloop you've probably experienced some of the headaches of the construction at Jane Bryne Interchange (aka the Circle).  Well looks like it's about to be ratcheted up - be prepared (via Connecting4Communities):

During construction of the interchange flyover, existing expressway ramps will be closed and lanes will be reduced:

• The ramp from the inbound Dan Ryan expressway (I-90/94) to the outbound Eisenhower expressway (I-290) will remain open but shift to a temporary roadway. 
• The ramp from the inbound Dan Ryan to inbound Congress will be closed. Traffic will detour from Roosevelt Road to Jefferson to Harrison to Wells. 
• The ramp from Roosevelt to Congress will be closed, and traffic will follow the Jefferson/Harrison/Wells detour. Traffic for the outbound Eisenhower will detour from Roosevelt west to Ashland and north to Van Buren. 
• The ramp from Taylor Street to the inbound Dan Ryan will be closed. Traffic will detour north on Jefferson to Adams. 
• The right lane of the inbound Dan Ryan will be closed from the Stevenson expressway (I-55) to Roosevelt. 
• The inbound and outbound Stevenson ramps to the Dan Ryan will be reduced from two lanes to one. 
• Four weekends this summer or fall will see a near-total shutdown of the entire interchange while beams for the flyover are installed. During those weekends, all lanes of the Eisenhower and Congress will be shut down, and an almost two-mile section of the Dan Ryan will be reduced to one lane in each direction. IDOT has not yet determined the four weekends for shutdown. 
• The flyover is scheduled for completion in July 2016.

(Hat tip: BK!)

Another Massive Set Built for Divergent at 700 S. Federal

We've had a lot of inquiries and interest in the massive movie set for Divergent that was being built at the Southwest corner of Wells and Harrison.

Well it looks like they're also aiming for a massive shoot this Saturday at another location in the Sloop (via OLV):

As we’ve reported new filming permit signs popped up earlier this week around 700 Federal St in Chicago for Divergent and now we have more details about what and when they are shooting at the location. 

According to the above letter posted on Dearborn St., adjacent to where they are building a set on Federal St, filming at the site won’t take place until Saturday, May 25. 

It looks like they are building an elevated railroad set, which does fit with one of the scenes from the book. You can check out a photo below.

No wonder it costs so much to make a movie...

(Hat tip: MM!)

CMK/Lend Lease Propose Zoning Change to Build 2,700 Residential Units Along Chicago River

More news is emerging on the CMK/Lend Lease joint venture and their intentions to develop the current vacant land Harrison and the Chicago River (via crains):

A development group that has been gobbling up South Loop land wants to build five towers with nearly 2,700 residential units on one site it controls just four blocks south of the Willis Tower. 

The joint venture between Chicago developer CMK and Australian construction company Lend Lease Group has submitted plans with the city for the 7.3-acre riverside parcel between Harrison Street and the River City condominium complex. The largest building, on the north end of the site, would rise 47 stories and include 626 units.

As you may know, CMK and Lend Lease also acquired vacant land just south of here as well.  The article says they joint venture is currently drawing up plans for these lots as well.

Residents are also starting to get these letters in the mail, which announced the proposed zoning change:

That's a lot of units!  While urban density proponents are probably gitty, many other neighbors are reasonably concerned.  Our neighborhood continues to get more and more crowded.  Generally speaking we are excited about these developments, but the city needs to make sure infrastructure improvements are moving at a similar clip (such as the proposed Wells/Wentworth connector).    

(Hat tip: JG, GM, KP, BS!)

CMK Confirms Joint Venture to Develop $1.5 Billion Project on the Chicago River

A view of one of the empty lots that CMK bought next to the Chicago River - looking north from Roosevelt

Some big development (and big money) news has been buzzing around the interwebs recently.

First off, on Thursday last week Chicago Real Estate Dailey had a blurb about a business agreement to development a large swath of prime South Loop land:

Australian construction giant Lend Lease Group confirmed that it has entered into a joint venture with Chicago-based developer CMK to develop 13 acres of land in the South Loop along the Chicago River. The $1.5 billion development will include apartments, condominiums, retail and commercial space and community facilities, Lend Lease said in a statement. The site, which runs on the east side of the river from Harrison Street south to Roosevelt Road, will be developed over 10 years, the statement said. The venture aims to file plans with the city “over the coming months” and break ground in early 2016, according to the statement.

We've spent some serious (digital) ink on this website talking about CMK's recent land grab along the Chicago river.  While they've shown that they can develop properties, a project of this magnitude requires some help which is why bringing on Lend Lease makes a lot of sense.

The same story was featured on the Chicago Architecture Blog yesterday and provided more information on the city's "River South" TIF district.  In the article, they seem to suggest that the CMK/Lend Lease Group are also developing the huge piece of land south of Roosevelt between the the river and Clark (aka the Rezko Land).

Wells/Wentworth Connector Plan

While this may be the case, this is the first we've heard of this and would assume it would have received more "mainstream" news.

Before the lot south of Roosevelt is developed, the city needs to provide some infrastructure to this urban wasteland (which has been coined the Wells/Wentworth Connector project by the city).

Anyway, the point of this post is that more news has emerged on CMK's intentions for their land along the Chicago River.  Seems ambitious, but looking forward to seeing what they have in the works.

Lendlease Receives Building Permit for Next Round of Buildings at Southbank Development (formerly known as Riverline)

Are the two towers on the left side of this picture about to get going?

A reader found some interesting info on the next phase of the "Riverline" project - which has been rebranded to Southbank after the two developers - Lendlease and CMK - split. 

Looks like Lendlease has received some additional building permits:

A member of Skyscraperpage who tracks building permits just posted the following: 

This is on the May Zoning Board of Appeals agenda. I'm not sure whether it's part of Riverline or what, but... 

New proposed 14 story, 173 unit building with ground floor uses at 207-21 W Harrison St (Harrison & Wells).

The developer is Alta Grand Central LLC. I think this is Riverline but...? (link) 

And a follow-up post:
Now here's the even BETTER news. It's actually two separate towers - one at 207 W Harrison and the other at 221 W Harrison. Both 14 floors with 173 units each - 346 units total. I found two permits - one per address pending for foundation new construction. (link)

If this is true, more density is coming to the river.

Although CMK has been active in other parts of the neighborhood (see post from last week) we haven't heard much about their lot along the river - north of Roosevelt and south of River City.

(Hat tip: DS!)

Taylor Street Bridge to be Reestablished at Some Point?

CMK/Lend Lease plans for vacant land along Wells Street
just north of Roosevelt Road (via Curbed Chicago)

To follow-up on a post we did last week on the CMK/Lend Lease's plans for the vacant lots on Wells street just north of Roosevelt, Curbed Chicago had a good post with more deets:

CMK's plans for the south stretch of riverfront property includes three residential high-rises as well as 62 townhomes. Two of the towers will be located at the north end of the site, adjacent to the existing River City building. The two towers will then flank a dedicated right-of-way for the reestablishment of a bridge crossing the river at Taylor Street. The third high-rise would be placed alongside the Roosevelt Road viaduct. Between the taller buildings would stand clusters of townhouses arranged into nine stand-alone buildings with courtyard layouts which would open towards Wells Street. Additional townhomes would also be included into the bases of the high-rise towers to screen the parking levels from view. A total of 942 residential units is planned for the southern stretch of land, which CMK does not need a zoning change for. Since the original Planned Development concept included allowances for high-rise structures and 1054 units beyond the 446 in River City's first phase, this unveiling was only a courtesy presentation to the Plan Commission and no formal vote was taken.

While this is all pretty interesting, the comment about the "reestablishment of a bridge crossing the river at Taylor Street" has big potential (some would argue good and some would argue bad).

The area east of the Chicago river, west of Clark, south of Harrison and North of Roosevelt ain't easy to access right now.  That's going to change whenever the Wells/Wentworth connector gets going, but having another east/west access point from Taylor will also reconnect this part of the neighborhood to the typical city grid.

10-15 years, this part of the Sloop is going to feel completely different.