Will the long-stalled Waterview Tower ever be anything more than a launch pad for adventurous BASE jumpers? We'll soon find out. The 26-story eyesore has sat vacant and unfinished for the past three years. In that time, several developers have stepped in and attempted to revive the site and continue building, but none have succeeded. The latest developer to try to pull the sword from the stone is Related Midwest, the same company that's planning to build a glassy new 500-unit apartment tower on the former Peshtigo site. According to Crain's, Related has signed a letter of intent to Related Midwest team up with the group of creditors that currently owns the unfinished building, but there are zero details about their plans. Whatever they decide to do with the site, don't expect it to approach the 90 stories that the original developer, Teng & Associates, sought to build.
· New venture to try its hand at Waterview site [Crain's]
· Complete Curbed coverage of Waterview Tower [Curbed Chicago]