A venture of Golub & Co. and Los Angeles–based CIM Group has unveiled plans to build a new skyscraper in Chicago, according to multiple media sources. The joint venture recently bought the site from Tribune Media.
The project is expected to cost more than $1 billion to develop.
The project, which calls for a 1,422-foot-tall mixed-use tower, will be the second-tallest building in Chicago behind the Willis Tower, according to The Real Deal.
The new skyscraper would be located on Michigan Avenue and would include 439 apartments and 200 hotel rooms, as well as 10,700 square feet of street-level retail space and 430 parking spaces.
Golub said construction is set to begin as soon as August with work on the new tower to start in late 2019 or early 2020.