Developer Reports Over One Quarter of Units in Vista Tower Now Under Contract

No less than 110 of the Vista’s 406 high-end condominiums have found buyers

By Jay Koziarz Jul 14, 2016, 10:05am CDT

The developer behind Chicago’s planned 95-story Vista Tower recently confirmed that over a quarter of the building’s ultra-luxury units have found buyers, reports the Chicago Tribune. According to Magellan Development’s National Marketing Director Jim Losik, no less than 110 of the Vista’s 406 condominiums are now under contract. The recent news comes on the back of last month’s report by a Hong Kong-based new outlet that roughly $200 million worth of real estate in the Studio Gang-designed supertall sold since March.

While the latest figure includes an undisclosed number of the Vista’s full-floor "Sky Residences" which occupy floors 71 through 91 and start at $9 million, there’s been no official word if the tower’s $17.4 million two-level penthouse has secured a purchaser. The Windy City continues to enjoy a record level of foreign investment and the Vista project has acted as nothing short of a lightning rod for overseas buyers — drawing clients from places such as mainland China and Hong Kong.

In addition to world-class residential amenities, a 191-key Wanda-branded luxury hotel with occupy the tower’s lowest 12 floors. Dalian Wanda Group, China’s largest real estate developer, has partnered with Chicago-based Magellan Development on the estimated $1 billion project. Though a four-year construction timeline was previously quoted, the Tribune article puts the expected delivery date of the 1,186-foot-tall Lakeshore East skyscraper at late 2019. The developer hopes to begin construction either this month or next.