By CBS 2 Chicago Staff

CHICAGO (CBS) — Chicago’s newest skyscraper is getting a new name. Vista Tower, the third-tallest building in Chicago, is being rebranded as The St. Regis Chicago, after the owners signed an agreement with St. Regis Hotels & Resorts to manage a 191-room luxury hotel.

The Magellan Development Group, which owns a 90% stake in the skyscraper, said The Alinea Group will operate a fine dining restaurant with an outdoor terrace, an all-day restaurant and lounge overlooking the Chicago River, and a bar with an outdoor terrace as part of the luxury hotel.

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“We’re pleased to collaborate with the iconic St. Regis brand. The St. Regis Chicago will be the city’s most desirable destination. The St. Regis, coupled with the Alinea Group, aligns with the established caliber of the Vista Tower brand, and our dedication to providing unparalleled luxury for our residents and hotel guests,” Magellan Development Group principal J.R. Berger said in a statement. “The partnership with these brands sends the message that Chicago is strong and resilient.”

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The St. Regis Chicago also will include 393 luxury condominiums, complete with a sky terrace and outdoor pool on the 47th floor, as well as a private lounge and dining room, a demonstration kitchen, a golf lounge, and more.

Designed by Chicago architect Jeanne Gang, the building is the third-tallest skyscraper in the city. The first tenants are expected to move in next month, and the hotel is expected to open next summer.

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CBS 2 Chicago Staff