Originally New Eastside was covered with rail tracks and buildings dedicated to the Illinois Central Railroad (ICRR).
In 1955, Chicago Mayor Richard M. Daley presided over a grand opening of the city’s first new downtown skyscraper built in 21 years. One Prudential Tower, 130 E. Randolph St., was built after purchasing the land and air rights from the ICRR. At the time, it was Chicago’s tallest building standing at 41 stories tall, and the first of many commercial, residential and hotel properties built in New Eastside.
The name New Eastside did not become used until the 1980s when real estate developers started transforming the neighborhood.
Real estate developer Metropolitan Structures added 14 buildings in the 1980s and 1990s to the western part of New Eastside. Beginning in 2002, led by the Magellan Development Group, the eastern portion of the New Eastside began its transformation to its current multi-use residential and commercial space. The company named its project Lakeshore East. Magellan also contributed 10 high-rise buildings, the Village Market and townhomes.
The area that is now a park in the heart of the Lakeshore East and New Eastside communities was previously a golf course from 1994 to 2001.
The current Park at Lakeshore East was jointly funded by the Chicago Park District and private funds from Magellan Development Group and has won several major design awards. The park features a fenced in play-ground, dog park, water fountains, a grand staircase and central lawn.