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Start 8: Grand Pier
Cost: $375 million
Grand Pier, the mixed-use development
in Chicago's Streeterville neighborhood, has restarted after
two years.
A concrete parking structure with space for a Dominick's Finer
Foods supermarket is under construction on the site.
According to Chuck Staley, project manager in Chicago for
general contractor Bovis Lend Lease, the parking structure
is slated for completion this fall.
The original Grand Pier developer, Raymond Chin, president
and owner of Chicago-based R.M. Chin & Associates, had
proposed a hotel and condominium tower, in addition to the
garage and retail, for the site, and work started in 1999.
But the project halted amid legal disputes.
Work restarted in spring 2003, when New York-based bank Lehman
Bros. took over.
The garage work resumed the following summer, and crews have
extended Cityfront Plaza Drive over Illinois Street to link
the parking structure with Michigan Avenue.
The project is reportedly for sale, and several entities are
allegedly looking at the project pieces and the project as
a whole.
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Key
Players
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Developer:
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Lehman Bros., New York
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Construction Management:
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Construction Management & Development, Honolulu
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General Contractor (Garage):
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Bovis Lend Lease, Chicago
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Architect:
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Loebl, Schlossman & Hackl, Chicago
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