The downtown rental market just got a bit more crowded. Last weekend, we were able to get firsthand confirmation that construction is underway for Summit On Lake in the Loop. Planned for an L-shaped site at 73 E. Lake that also includes frontage on Wabash, crews have finished demolishing a concrete parking structure to make way for the 42-story, 332-unit apartment tower. Financing for the $116M project was recently secured by M&R Development LLC, and completion is expected by June 2014. More updates to come!
· Closer highlights for July 31 [Crain's]