Complex sentence: The wheel is located in eastern Beijing's Chaoyang Park, one of the 2008 Summer Olympics venues, and is being built by the Great Wheel Corporation, which also built the Singapore Flyer and is currently building the Great Berlin Wheel.
Split into simpler sentences: The wheel is located in eastern Beijing's Chaoyang Park, one of the 2008 Summer Olympics venues. The Beijing wheel is being built by the Great Wheel Corporation which also built the Singapore Flyer and is building the Great Berlin Wheel.