You have to hand it to See Y Wong — like any forward-thinking developer the guy has a lot of projects in the pipeline, just waiting for the financing floodgates to open.
To my knowledge, we’ve never touched one of those projects, the three-phase Eastern Tower development proposed for 2.5 acres at 24th Place and Wallace Street in Chinatown, right at the junction of the Dan Ryan and Stevenson expressways. According to a new press release from Wong’s Wabash Development Group, the project recently received final zoning approval from the city.
If completed, the $100 million mixed-use development will comprise 96 condos and 12,000 square feet of commercial space in a seven-story building, a six-level community center and indoor mall with 250,000 square feet of commercial space and parking, and a 22-story high-rise with 150 condos and 100 hotel rooms.
Eastern Tower’s condos will include 700 square-foot two-bedroom / one-baths starting below $200,000, and 800 square-foot two-bedroom / 2.5-baths priced from the mid-$250s.
This is all in addition to the Grand Imperial Hotel and retail center proposed for 2150 S Clark St and the never-built 1349 South Wabash Private Residences high-rise in the South Loop. And all that Wilson Yard redevelopment, of course.