Mayor Rahm Emanuel joined a broad coalition of partners to announce a major new development on the north side of Chicago’s downtown riverfront. The property ownership team of Hines, Levy Family Partners, Diversified and American Realty Advisors are working with architecture firm Goettsch Partners on a $50 million building upgrade, including a complete redevelopment of the Chicago riverfront at 321 N. Clark Street. Chicago’s Lettuce Entertain You Enterprises (LEYE) will occupy the dramatic four-level space with RPM On The Water, a restaurant and events venue slated to open in summer 2019. Located on the north bank of the Chicago River, RPM On The Water will house three separate venues including a bi-level restaurant, a private events space and a yet-to-be-named casual concept, all with outdoor areas and expansive views overlooking the river. There will also be boat slips for those arriving via waterway. The new development will overlook the central business district, anchoring the River North mixed-use neighborhood and nearby Michigan Avenue. The building itself has been recognized internationally as a premier example of Chicago’s modern architectural legacy and is home to several large tenants, including the American Bar Association and CBRE commercial real estate.