A look at plans for new 88-story skyscraper on Chicago River

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Developers from Chicago and China are teaming up to build an 88-story skyscraper along the Chicago River.

The impressive skyscraper called the Wanda Vista will be built along the river just east of the Swissotel on East Wacker Drive.

It will be a mixed-use building containing a hotel, condominiums and retail space.

Mayor Rahm Emanuel proudly says the $900 million project will generate 2,000 construction jobs, 500 permanent jobs, and will be built by Chicago star architect Jeanne Gang.

The Mayor says the Chinese developer is making the largest-ever real estate investment by a Chinese company in Chicago, rather than in New York and Los Angeles, two other cities that were considered.  He says Chicago was picked because the city is making the necessary and tough decisions.

The Wanda Group, controlled by mainland China's richest man, is teaming up with Chicago-based Magellan Development Group to help build Wanda Vista.  They hope to break ground on the building in 2016.


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