Chicago Condominium Tower For Gold Coast

A new Chicago condominium tower in the Gold Coast neighborhood of Chicago is in the planning stages. Arcapita Bank and Elysian Development are teaming up to make the 60-story Chicago condominium project a reality.

The sum value of the project is projected to be $247million. The tower will include 53 residential condo units and 183 hotel suites. Some space will also be reserved for retail establishments, a restaurant, and a health club.

A spokesman for Arcapita credited the strong luxury Chicago condominium market for making the venture possible. The strength of the market has been clearly demonstrated in the fact that more than half of the units in the tower have already been sold.

Construction on the Chicago condominium development will begin in November.