Related Midwest

What Related Midwest does

Related Midwest is the Chicago office of Related Companies and operates as a large-scale real estate developer specializing in luxury residential, mixed-use, and affordable housing. Founded in 1988, the company is based at 350 W. Hubbard Street in Chicago and runs a vertically integrated stack spanning development, in-house construction (LR Contracting, ranked third-largest contractor in Chicago), brokerage (Related Realty), rental operations (Related Rentals), and ongoing property management (Related Management). Its portfolio includes landmark luxury condominium and rental towers such as One Bennett Park, 400 Lake Shore Drive, The Grant, The Row Fulton Market, and 500 Lake Shore Drive, alongside significant affordable and mixed-income communities including Roosevelt Square (2,000+ planned units), Poplar Place, and South Shore on The Park.

The company's core technology centers on architecturally significant mixed-use master-planning — most prominently the 440-acre Quantum Shore Chicago / Illinois Quantum & Microelectronics Park on the former U.S. Steel South Works site, the 62-acre The 78 district along the Chicago River (anchored by a 22,000-seat McDonald's Park stadium), and Roosevelt Square's 67-acre mixed-income community. Engineering and design partnerships with Skidmore Owings & Merrill, Robert A.M. Stern Architects, and Morris Adjmi support complex structural systems (e.g., belt wall engineering at 400 Lake Shore), bird-safe urban design, and LEED-certified sustainability.

Revenue is generated through development fees on multi-billion-dollar mixed-use districts, luxury condominium sales ($300K–$2M+ per unit), rental income from luxury and mixed-income properties, affordable housing operations funded by LIHTC and government subsidies, construction contracts via LR Contracting, and recurring property management fees. Anchor tenants include PsiQuantum, IBM, Sidley Austin, Advocate Health Care, Chicago Fire FC, and DARPA, while the residential side serves a long tail of affluent buyers, luxury renters, and income-qualified affordable housing residents across Chicago and Springfield, IL.

Name

Related Midwest

Legal name

Related Midwest

Website

https://relatedmidwest.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

51–100 employees

Short description

Related Midwest is the Chicago office of Related Companies, a large-scale real estate developer building luxury residential towers, affordable and mixed-income housing, and master-planned mixed-use districts including Quantum Shore Chicago and The 78.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (2372), New Housing For-Sale Builders (236117), Residential Building Construction (23611), New Single-Family Housing Construction (except For-Sale Builders) (236115)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), Operators Of Apartment Buildings (6513), Real Estate (6500)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industries

Urban Planning & Master Planning (BPAHAKAD), Build-to-Rent (BTR) Community Management (BPAJAFAC), Mixed-Use Property Management (BPAJAGAE), Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Luxury residential development
• Affordable housing development
• Mixed-use real estate
• Property management services
• Commercial real estate leasing

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Real Estate Development Fees: Related Midwest generates revenue through development fees from managing large-scale mixed-use projects. As master developer of The 78, Quantum Shore Chicago, and other districts, the company earns fees for project management, coordination with public partners, and delivery of infrastructure improvements.
2. Property Sales - Luxury Condominiums: Sale of luxury condominium units at properties like The Grant, One Bennett Park, and South Loop Luxury collection. Units range from $300,000s to over $2 million. The company has achieved prices averaging 99.5% of listing price through Related Realty.
3. Property Rental Income: Related Midwest operates luxury rental properties under the Related Rentals brand including 400 Lake Shore Drive, The Row Fulton Market, One Bennett Park, Lathrop, and 500 Lake Shore Drive. Properties feature luxury amenities and services with rental income as primary revenue stream.
4. Affordable Housing Operations: Management and operation of affordable housing communities including Roosevelt Square (900+ units), Poplar Place (100 units), South Shore on The Park, and other properties. Revenue comes from government subsidies, Low Income Housing Tax Credits, and tenant rents.
5. Construction Services - LR Contracting: Related Midwest's in-house construction company LR Contracting Company builds company projects and generates revenue through construction contracts. Ranked third-largest contractor in Chicago.
6. Property Management: Related Management Company provides property management services across the portfolio including maintenance, tenant relations, and amenities management for residential properties.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Related Midwest is a Chicago-based real estate developer that designs, builds, sells, leases, and manages luxury condominiums, luxury rental residences, affordable and mixed-income housing, and large-scale mixed-use and innovation districts. The company operates a vertically integrated platform that includes in-house construction (LR Contracting), brokerage (Related Realty), property management (Related Management), and community programming (Related Affordable Foundation) to deliver residential, commercial, and technology-anchored developments across the Chicago metropolitan area.

Differentiator

Problem solved

Functional benefit

Brands

• Related Affordable Foundation: Charitable organization committed to enriching lives of affordable housing residents through youth programs, scholarships, and community partnerships.
• LR Contracting Company

Products and services

• 400 Lake Shore Drive Two 72-story residential towers designed by Skidmore, Owings & Merrill offering luxury rental residences with 20% affordable units, on the Chicago River and Lake Michigan waterfront. Scheduled for completion in early 2027.
• The Grant (Luxury Condominiums) Luxury condominiums in Chicago priced from $300,000s to over $2 million, with residences ranging from 1,207 to 3,000 square feet offering two to three bedrooms, private balconies, and panoramic views of Lake Michigan and Grant Park.
• One Bennett Park Luxury residential tower in Chicago's Streeterville designed by Robert A.M. Stern Architects, recognized as Chicago-Area Construction Association Residential Project of the Year in 2019. Sold and leased directly to high-net-worth consumers.
• 500 Lake Shore Drive LEED Gold-certified luxury residential tower in Chicago's Streeterville neighborhood offering condominium residences.
• The Row Fulton Market Luxury rental residences in Chicago's West Loop along Restaurant Row, designed by Morris Adjmi Architects, marketed under the Related Rentals brand.
• Roosevelt Square Mixed-Income Housing 67-acre multi-phase mixed-income development on Chicago's Near West Side combining market-rate and affordable housing with retail space, ultimately planned to bring more than 2,000 housing units. Includes restoration of the Jane Addams building for the National Public Housing Museum and integrated public library facilities.
• Poplar Place Affordable Housing 100-unit affordable family apartment community in Springfield, IL offering two to four bedroom units with rents from $800 to $925 per month for income-qualified tenants earning $44,400 to $83,640.
• Quantum Shore Chicago / Illinois Quantum & Microelectronics Park (IQMP) 440-acre master-planned technology and innovation district along the Chicago lakefront. The 128-acre first phase (IQMP) provides purpose-built facilities for quantum computing, technology, and healthcare companies, anchored by PsiQuantum's planned million-qubit quantum computer and IBM's Quantum System Two.
• The 78 Mixed-Use Development 62-acre mixed-use development along the Chicago River in Chicago's South Loop, featuring a 22,000-seat soccer stadium (McDonald's Park for Chicago Fire FC), residential towers, office space, retail, and public plazas connected via pedestrian pathways and riverfront access.
• 725 W. Randolph Office Tower (Fulton Market) Class A 45-story, 1 million square foot office tower in Chicago's Fulton Market anchored by law firm Sidley Austin leasing over 500,000 sq ft, with occupancy targeted for late 2030.
• LR Contracting (Construction Services) Related Midwest's in-house general contracting and construction company, ranked third-largest contractor in Chicago, building company projects and offering construction services to the broader market.
• Related Realty (Brokerage Services) In-house real estate brokerage selling Related Midwest condominiums directly to consumers through sales centers with model residences. Achieved an average 99.5% of listing price and 22-day average sale time compared to the 97-day Chicago average.
• Related Management (Property Management) Property management services across Related Midwest's residential portfolio, including maintenance, tenant relations, amenities management, and concierge services for luxury and affordable residential properties.

Quantifiable outcome

• Over 2,000 housing units planned at Roosevelt Square mixed-income development
• +4 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

16 partnerships are on record, tiered core and secondary.

• CRG (subsidiary of Clayco)coreStrategic or Co-development Partner · 1 October 2025Related Midwest and CRG are co-developing Quantum Shore Chicago, a 440-acre master-planned technology and innovation district along Chicago lakefront. CRG's parent company Clayco serves as general contractor for the initial phase. Lamar Johnson Collaborative (LJC), also a Clayco subsidiary, is the design firm for IQMP. This partnership leverages Related's development expertise with CRG/Clayco's construction and design capabilities.
• PsiQuantumcoreTechnology or Integration · 1 October 2025PsiQuantum is the anchor tenant for the Illinois Quantum & Microelectronics Park (IQMP), planning to build America's first million-qubit scale, fault-tolerant quantum computer. The Palo Alto-based company is occupying an 80,700 square foot office and research facility, the first of several buildings it will eventually occupy at the park.
• IBMcoreTechnology or Integration · 1 October 2025IBM will house its Quantum System Two Computer at IQMP and partner with the State of Illinois to create a new National Quantum Algorithm Center, marking the first Fortune 500 company to join the site. IBM brings enterprise quantum computing capabilities to the ecosystem.
• DiraqsecondaryTechnology or Integration · 1 October 2025Australian quantum startup Diraq was awarded a DARPA Quantum Benchmarking Initiative Stage A contract and has committed to the IQMP. The company is developing quantum computing technology and represents the growing ecosystem of quantum companies at the park.
• InfleqtionsecondaryTechnology or Integration · 1 October 2025Global leader in quantum technology will headquarter its global computing operations at IQMP as part of a $50 million investment to develop the world's first utility-scale neutral atom quantum system.
• DARPAcoreStrategic or Co-development Partner · 1 October 2025DARPA's Quantum Proving Ground Program brings quantum research and development community members to IQMP who secure competitively awarded DARPA funding. These members conduct work at the park using shared facilities while helping offset infrastructure costs, creating a unique public-private research ecosystem.
• Advocate Health CarecoreStrategic or Co-development Partner · 1 October 2025Advocate Health Care will build a $300 million, 52-bed hospital northwest of the Quantum Shore development. This state-of-the-art facility will enhance the community's access to high-quality healthcare and establish the area as a powerhouse of breakthrough science, health, and technology.
• After School MatterscoreStrategic or Co-development PartnerLong-term partnership providing youth development programs at Related Midwest affordable housing communities. Related Affordable Foundation funds After School Matters programs including mural projects, mosaics, and Peacemakers violence prevention. Programs engage nearly 19,000 Chicago teens annually.
• University of IllinoissecondaryStrategic or Co-development PartnerUniversity of Illinois is involved in the quantum computing ecosystem at IQMP, with researchers and students working alongside private companies in research and office spaces at the park.
• University of ChicagosecondaryStrategic or Co-development PartnerUniversity of Chicago is part of the quantum research ecosystem at IQMP, contributing academic expertise to the quantum computing campus alongside PsiQuantum, IBM, and other partners.
• Skidmore, Owings & Merrill (SOM)coreTechnology or IntegrationSOM, led by David Childs, designed 400 Lake Shore Drive with cascading terraces and innovative belt wall structural system. SOM's design draws inspiration from Chicago's iconic 'Chicago Window' architecture, reimagined with modern glass and metal curtain walls.
• BOWA ConstructioncoreStrategic or Co-development PartnerBOWA Construction is co-building 400 Lake Shore Drive with LR Contracting. BOWA became the first minority-owned General Contractor to co-build a high-rise in Chicago through work on The Row Fulton Market. Partnership represents diversity in construction leadership.
• LR Contracting CompanycoreStrategic or Co-development PartnerRelated Midwest's in-house construction company builds company projects. Ranked third-largest contractor in Chicago. Led by Don Biernacki, EVP of Construction and President of LR Contracting. Handles all major Related Midwest developments.
• Heartland HousingsecondaryStrategic or Co-development PartnerHeartland Housing is a development partner for Roosevelt Square mixed-income development, working alongside Related Midwest, Chicago Housing Authority, and the Department of Housing on the 67-acre Near West Side project.
• Robert A.M. Stern ArchitectscoreTechnology or IntegrationRobert A.M. Stern Architects designed One Bennett Park, the first Robert A.M. Stern residential tower in the Midwest. The landmark building set new benchmarks for luxury residential living in Chicago.
• Morris Adjmi ArchitectssecondaryTechnology or IntegrationMorris Adjmi Architects designed The Row Fulton Market to reflect the heritage of Chicago's West Loop neighborhood along famed Restaurant Row. MAWD designed interiors for 400 Lake Shore Drive.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Magellan Development Group: Chicago-focused developer of Lakeshore East and large mixed-use waterfront communities. Comparable luxury high-rise and master-planned community portfolio in the same market.
• The Habitat Company: Chicago affordable and mixed-income housing developer with city-wide portfolio. Directly comparable affordable housing operations, LIHTC financing approach, and community development focus.
• Sterling Bay: Chicago-based large-scale real estate developer behind Lincoln Yards and other transformational mixed-use projects. Directly comparable to Related Midwest in Chicago mega-project execution and public-private partnership model.
• CA Ventures: Chicago-based multifamily and student housing developer with global footprint. Comparable in multifamily rental scale and urban high-rise execution.
• JDL Development: Chicago high-rise residential and mixed-use developer behind projects like No. 9 Walton and Vista Tower. Direct competitor in luxury downtown Chicago condo and rental market.

Emerging players

• Crescent Heights: Luxury multifamily developer focused on urban high-rise rentals and condos in major US cities. Comparable luxury rental brand positioning and urban infill strategy.

Broad incumbents

• Brookfield Properties: Major owner/developer of office, multifamily, and mixed-use assets including Manhattan West and other innovation districts. Comparable in mega-project scope and tenant-anchor strategy.
• Lendlease: Global real estate and infrastructure developer with significant Chicago presence. Co-hosts Related Midwest's annual charity Golf Classic and competes for large mixed-use and public-partnership mandates.
• Tishman Speyer: Large global developer of mixed-use, office, and multifamily assets. Comparable scale, Class A office leasing experience (e.g., Rockefeller Center) and luxury residential brand positioning.

Others

• Related Companies (Parent): National parent firm and most prominent privately-owned US real estate developer (Hudson Yards, etc.). Provides capital, brand, and best-practice sharing that underpins Related Midwest's competitive position.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/related-midwest
• Xx.com/eRlated_Midwest

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Related Midwest