The 78
The 78 in 2022
LocationChicago, Illinois
Coordinates41°51′53″N 87°37′56″W / 41.86472°N 87.63222°W / 41.86472; -87.63222
Websitehttp://78chicago.com
Companies
ArchitectSkidmore, Owings & Merrill
DeveloperRelated Midwest
Technical details
Cost$7 billion
Size62 acres (25 ha)

The 78 is a development in Chicago that will consist of several office and residential towers, high-rises, and will also include a riverwalk.[1] The name "The 78" refers to the existing 77 community areas in Chicago and the mega-development is to increase that number by one.[2] Related Midwest will develop the site, and Skidmore, Owings & Merrill designed the project's master plan.[2] Related Midwest acquired the land in 2016.[3][4]

The 78 development will be located on a 62-acre parcel of land just south of Downtown Chicago and north of Chinatown. The area is bordered by Roosevelt Road to the north, Clark Street to the east, 16th Street to the south, and the South Branch of the Chicago River to the west.[1][5]

The 78 will also include a $1.2 billion research center called the Discovery Partners Institute, which will be operated by the University of Illinois.

In April 2019, the Chicago City Council approved The 78 development, including a tax increment financing agreement.[6]

Several other mega and large-scale projects are also underway in Chicago. These include Lincoln Yards, 400 Lake Shore Drive, Tribune East Tower, One Chicago, Southbank, Riverline, Bronzeville Lakefront, an $8.5 billion revamp of O'Hare International Airport, a city casino, an extension of the Red Line subway/elevated train, and the Barack Obama Presidential Center among other large scale projects.[7] One Central is another mega-development that has been proposed southeast of The 78 near Soldier Field.

In 2021, it was proposed to put a Rivers Casino in The 78 as part of the Chicago Casino Proposals, but the city selected a site in the River West district near the intersection of Chicago Avenue and Halsted Street for a casino and entertainment complex.[8]

History

Much of the land was created through landfills in the 1920s as part of a $9 million realignment of the South Branch Chicago River.[1][9] The area then became a railyard for trains traveling to or from either the Grand Central station or LaSalle Street station.[10] The railyard was eventually demolished in the 1970s, forming a 62-acre vacant lot. The former railyard remained in limbo for decades. In 2001, Tony Rezko bought the entire land for mixed-use development. His plan did not come to fruition and eventually sold the land in 2005.[11]

References

  1. 1 2 3 Ori, Ryan (May 11, 2018). "No Small Plans for 62-Acre South Loop Site Along Chicago River". Chicago Tribune. Retrieved April 10, 2019.
  2. 1 2 Kozlarz, Jay (October 19, 2017). "New U of I Innovation Center and 'The 78' Mega-Development Officially Unveiled". Curbed. Retrieved July 30, 2018.
  3. ↑ Kozlarz, Jay (May 12, 2016). "Related Midwest Finalizes Deal for Massive 62-Acre Riverfront Site". Curbed. Retrieved July 30, 2018.
  4. ↑ Moser, Whet (May 15, 2018). "RIP, Rezkoville. Hello, the 78". Chicago Magazine. Retrieved December 7, 2021.
  5. ↑ Davis, Katherine (May 11, 2018). "Take a Look at Plans for The 78, Chicago's New Riverfront Neighborhood". ChicagoInno. Retrieved April 10, 2019.
  6. ↑ Byrne, John (April 10, 2019). "City Council Approves Lincoln Yards, The 78 Deals after Developer Concessions". Chicago Tribune. Retrieved April 10, 2019.
  7. ↑ Nitkin, Alex (May 11, 2018). "Related Midwest's Plans for Sprawling South Loop Project Taking Shape". The Real Deal Chicago. Retrieved July 30, 2018.
  8. ↑ Byrne, Robert Channick, Dan Petrella, John. "Chicago has five competing casino bids. Here's a look at what's proposed, and where". chicagotribune.com. Retrieved April 13, 2022.{{cite web}}: CS1 maint: multiple names: authors list (link)
  9. ↑ "Street Number Guide Map of Chicago (1916)". Harvard Library. Rand McNally & Co. Retrieved July 5, 2022.
  10. ↑ "Map of Englewood, Chicago (1963)". United States Geological Survey. Retrieved July 5, 2022.
  11. ↑ Eordogh, Fruzsina. "Will Rezko's Lot in the South Loop Ever Be Developed?". Chicago Magazine. Retrieved July 5, 2022.
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