Chicago Mayor Rahm Emanuel and Amtrak CEO Wick Moorman have selected Riverside Investment & Development to renovate Union Station.
Riverside will be the master developer for the project, which will include 1.5 million square feet of new office space; 500,000 square feet of residential space; and construction of two 12-story buildings over the station's mostly empty headhouse.
The 1925 Beaux-Arts limestone station borders Chicago's Loop on the west side. Including the underground facilities, Union Station spans about 9 city blocks in size.
The mayor said the project could create 7,500 construction jobs and up to 8,000 permanent jobs by completion. The renovation will be done in three phases over about six years.
The Riverside project is separate from efforts to get $1 billion in federal funding to expand the part of Union Station used by Amtrak.