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Middle Market Digest-The Midwest

The latest deals, trends, happenings, and personnel moves in the Midwest region.

By Brian J. Rogal | brianjrogal | Updated on October 20, 2017

CHICAGO—The decision of the University of Illinois to locate its $1.2 billion Discovery Partners Institute at Related Midwest’s new The 78 project on the Near South Side (see below) is a good example of how our concept of mixed-use is changing. It used to be that developers would throw some retail, restaurants and perhaps office space into a residential community and call it mixed-use. Increasingly, however, developers have gotten more elaborate, stacking many uses into one huge community, such as Related’s Hudson Yards in New York. That way, communities become true destinations for many people, each use fortifying the others. Hudson Yards will remake New York’s West Side, and while Related’s project in Chicago is not quite on that scale, it sounds like it has the potential to play a similar role for this long-ignored portion of the city.

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