Tribune Media and its partner Riverside Investment and Development have unveiled plans for a $600 million office and apartment project for a riverfront site in Chicago. The joint venture for the site was formed in 2015.
The location is the seven-acre site at Chicago Avenue and Halsted Street. The project at 700 W. Chicago Ave. will include four buildings with a 310-unit apartment tower and more than 1.2 million square feet of office space.
The first phase of the 700 W. Chicago project is expected to feature a 220-foot mid-rise building containing 435,000 square feet of loft-style offices. The first building could be delivered to tenants as early as mid-2019.
In May, Tribune Media was acquired by new owner Sinclair Broadcast Group for $3.9 billion. The new owner announced plans of selling all of Tribune Media’s real estate holdings within the next two years. The firm plans to sell the riverfront site of the Tribune’s 850,000-square-foot Freedom Center printin
