Webster Place Shopping Center Owner Plans Expansion

CHICAGO — The owner of a shopping center in Lincoln Park is planning to add two large residential towers to the property, according to a report. New York-based RPT Realty bought the Webster Place shopping center last year, which sits next to the proposed Lincoln Yards development.

The expansion would include office, residential, parking and retail space, according to Crain's. The Regal Cinemas movie theater complex would also expand.

RPT Realty may need to clear up a legal dispute with one of its biggest tenants — Webster Place Athletic Club — before the plans can progress, Crain's reported. The club and RPT sued each other earlier this year over a lease dispute, according to the report.

The real estate firm aims to capitalize on the center's proximity to the proposed Lincoln Yards development, which would include around 12 million square feet of buildings, half of which would be residential space: 5,000 homes and up to 500 hotel rooms.

Read the full Crain's report.

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