The tower's footprint would fill most of two Lakeshore East properties, both unbuilt, that are split by a ground-level street.
That street, which the tower would straddle, leads to the lowest level of East Wacker and to a spot that scores of Chicagoans are never happy to visit — the city's central auto pound at 500 E. Wacker.
Magellan's most well-known project is Gang's Aqua, also in Lakeshore East.
A profile of Gang in the May 19 issue of The New Yorker suggests that the design of this new tower is hers.
The article said Loewenberg asked Gang two years ago to design a skyscraper that would rise near Aqua.
“Her design nestles together three buildings, which softly zigzag in and out as they rise,” the story said. “The middle building will straddle a road.”
The master plan for Lakeshore East, designed by the Chicago office of Skidmore, Owings & Merrill, called for a skyscraper along East Wacker that would have a large-scale opening at its base, creating a gateway into the development.
The design made public Wednesday by Wanda follows this idea, proposing a monumental void for the middle of the three interlocked towers.
Gregg Garmisa, a principal and general counsel at Studio Gang Architects, declined to comment, as did Robin Tebbe, chief marketing officer for Magellan Development.
Magellan will hold the remaining 10 percent stake in the new project, The Wall Street Journal reported.
Wang is most well-known in the United States for buying movie theater chain AMC Entertainment Holdings.
Also, as part of his aggressive global real estate strategy, Wanda Group bought a 28-story Madrid skyscraper last month and invested more than $1 billion in a luxury hotel and apartment development in London last year, the Journal reported.
“By 2020, Wanda will have Wanda branded five-star hotels in 12-15 major world cities and build an internationally influential Chinese luxury hotel brand,” Wang said in a statement.