CHICAGO—A long-awaited project to transform one of Chicago's most significant downtown properties may be about to get started. Amtrak has designated a team lead by Riverside Investment & Development Co. as the master developer for Chicago's Union Station. It's another coup for John O'Donnell's Riverside, which recently opened 150 N. Riverside Plaza, one of the downtown's newest trophy office towers, and just launched a partnership with the Hughes Corp. to develop a 51-story tower at 110 N. Wacker.

It won the bid against some tough competition. Sterling Bay, Golub & Co., and The John Buck Co. all put forward their own plans for the historic property.

“This building was envisioned by Daniel Burnham in the 1909 Plan for Chicago as the city's primary rail station,” says Amtrak president and chief executive officer Wick Moorman. “It is in that spirit, we have big plans for both this Headhouse building and nearby properties owned by Amtrak. We have initiated real estate developments such as this to create revenue streams to invest in our core business, to improve facilities, to provide amenities to all users of the station – and to attract new ones. We are certain we will do that here in Chicago.”