CHICAGO – Ivanhoé Cambridge, one of the 10 largest real estate companies in the world, announce that $300 million will be spent to build a 45-story office tower in the West Loop in downtown Chicago. The tower, River Point, is being developed by co-investor and international real estate firm Hines, on land co-owned by local business leader Larry Levy. The investment is expected to close by the end of May 2012 with construction to commence before year-end, and tenant occupancy to begin in early 2016.
River Point was designed by architectural firm Pickard Chilton and will be built at 444 West Lake Street on the western bank of the Chicago River near two rail hubs in the West Loop, overlooking the river towards Lake Michigan. Containing approximately 900,000 square feet of leasable space, the project also calls for construction of a majestic 1.5-acre public park atop the existing rail infrastructure that will connect the tower and its 450-linear feet of newly landscaped walkway to the Chicago Riverwalk. The tower is pre-certified LEED Gold.