Demolition update – Summit on Lake

Bits of the façade are nearly all that’s left of the Mexican restaurant and rent-a-car outlet that formerly operated at 73 E Lake St in the Loop, and they’re being pulverized, bit by bit.

M&R Development anticipates locking down construction financing shortly for a 42-story, 336-unit apartment tower on the site, according to Chicago Real Estate Daily. The new development, which will be known as Summit on Lake, is following the trend of planning to compete with existing apartments by offering “condo-style amenities and finishes.”

You can track the major new apartment projects underway in downtown Chicago at our at-a-glance list and map.

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