Sterling Bay has secured $174.5 million in financing for the construction of 300 N. Michigan Ave., a $250 million tower in downtown Chicago.
The 47-story mixed-use tower will be built by Sterling Bay in partnership with Magellan Development Group, reports Commercial Property Executive.
Located just south of the Chicago River, 300 N. Michigan Ave. will include 289 residential units, 25,000 sq. ft. of retail space and a 280-key hotel.
Designed by bKL Architecture, the 523-foot glass structure is situated just blocks from several of Chicago’s most visited tourist attractions including the recently revitalized Chicago Riverwalk and Millennium Park’s world famous Cloudgate.
Linn-Mathes is the project’s contractor.
