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Crain’s Chicago Business: Health Tech Hub Planned For Michael Reese Site

Chicago, Illinois

The group planning a huge mixed-use project just south of McCormick Place has landed an anchor tenant to kick off the first phase of the development: a medical innovation center founded by the largest hospital in Israel.

The ARC Innovation Center would open in the first building on the former site of the Michael Reese Hospital, part of a 15-million-square-foot development that could cost as much as $7 billion. The project’s developers, a joint venture led by Chicago-based Farpoint Development, aim to build an ARC-anchored health-science cluster that would spin out new biomedical technologies—and create thousands of jobs—by harnessing the collective power of the area’s universities, companies and entrepreneurs.

View full article in Crain’s Chicago Business.