CHICAGO — Soon there will be a new third-tallest building in Chicago.
Mayor Rahm Emanuel has announced that construction will start this summer on the new Vista Tower.
Designed by award-winning architect and Chicago native Jeanne Gang, the 95-story skyscraper will stand at nearly 1,200 ft. tall — spanning along Wacker Drive near Lake Michigan.
Gang is best known for designing the neighboring Aqua Tower.
The Vista Tower will house a 5-star hotel with approximately 200 hotel rooms, more than 400 condominiums and approximately 9,000-square feet of retail space.
The cheapest condo will sell for $1 million, with prices all the way up to a $18 million penthouse.
This is a joint venture between Magellan Development Group and China's Dalian Wanda Group.
The project will be the largest-ever real estate investment by a Chinese company in Chicago, and one of the largest in the United States.
The mayor's office announced the project will create more than 2,000 construction jobs and more than 500 permanent jobs.
Vista Tower is set to open by 2020.