Construction of the first phase, which includes an office tower for CBS 2 Chicago Broadcast Center and Morningstar Inc., began in November 2005. With the foundation and concrete slabs supporting the tower at 75% complete, the tower will begin to take shape in October.

The development, formerly known as Block 37, will feature approximately 400,000 sf of retail, entertainment and dining offerings; 200,000 sf to 450,000 sf of office space, a 200- to 300-room hotel, a 200- to 300-unit residential tower, and a CTA transit station providing service to Chicago's O'Hare and Midway airports.

The company has been exploring a sale after it was announced the company was under investigation by the SEC for accounting flaws. June 14 was the final day companies interested in either buying or investing in the Mills Corp., a REIT that controls 42 regional malls. According an SEC filing, it had entered into confidentiality agreements with more than 30 potential buyers and investors. Vornado Realty Trust and the Westfield Group have been mentioned as possible suitors.