Mayor Rahm Emanuel today cut the ribbon to open River Point, a new 52-story office building at 444 W. Lake St. in the West Loop. Located at the confluence of the Chicago River’s north, south and main branches, the $500 million project includes a 1.1 million-square-foot office tower and 1.5-acre riverfront park space. Construction of the building created approximately 1,000 jobs and more than 4,800 employees are anticipated to work in the 730-foot-tall structure when fully leased.
“The City of Chicago has transformed a once inaccessible riverfront into the city’s next great recreational park and economic engine, catalyzing unprecedented private investment and creating thousands of jobs,” Mayor Emanuel said. “River Point is creating new waterfront space for the public to enjoy, a new place to work and dine, and a great new addition to Chicago’s beautiful skyline.”
The new building will be the site of a global forum on urban waterways on March 13, 2017, hosted by Mayor Emanuel and Paris Mayor Anne Hidalgo. The conference will bring together 19 mayors from 12 countries spanning five continents, representing 45 million people for an international conversation about the future of urban waterways.
River Point was built by development partners Ivanhoé Cambridge, Hines and Levy Family Partners. Designed by the architectural firm of Pickard Chilton, the curved-glass-walled structure features floor to ceiling windows, column-free floor plans, and a three-story lobby. River Point is LEED Gold pre-certified for its use of sustainable and efficient building features, including daylight views in over 90 percent of the buildings spaces, a storm water management system, increased ventilation, and a green roof. Amenities include a 150-car garage, restaurants, fitness center and conference center.
The project’s 1.5 acres of open space is the largest waterfront plaza downtown, providing a unique amenity for area workers and residents. Built above commuter rail lines, the $64 million project includes landscaped terraces and ramps that lead to a 560-foot-long waterfront walkway. Public access is provided from Lake Street, Canal Street, and through the building.
In Chicago, the recently extended 1.25-mile main branch Riverwalk and the completion of a fourth boat house along the Chicago River demonstrate the Mayor's commitment to increase access to and recreational opportunities on the river, as outlined in both his Building on Burnham plan and Our Great Rivers, a forward looking action agenda for Chicago's three rivers.
Building tenants include McDermott, Will & Emery LLP; DLA Piper LLP; Servcorp; Morton Salt; Water Street Healthcare Partners; Harrison Street Real Estate Capital LP; Gallup Inc.; and Levy Family Partners. Chicago-based Gibson’s Restaurant Group plans to open a restaurant in the building.
Ivanhoé Cambridge is a real estate subsidiary of Caisse de dépôt et placement du Québec, one of Canada's leading institutional fund managers. Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 192 cities in 20 countries. Levy Family Partners is a family investment office that oversees a broad portfolio of public and private investments, with an emphasis on real estate, hospitality, and venture capital.