For Immediate Release:
April 20, 2007
For More Information:
Larry Schaffel/PR Director
Tricia Van Horn/VP Marketing
312/642-8869
Acknowledging the widely-held perception that it is America’s most exciting new community, the Greater North Michigan Avenue Association (GNMAA) has named Lakeshore East the 2007 Development of the Year.
A blossoming village situated between Lake Michigan, Michigan Avenue, the Chicago River and Millennium Park, the $4 billion mixed-use development incorporates all the elements of a traditional city community, a lifestyle center that includes homes, retail, recreational opportunities and amenities such as a lush, award-winning 6-acre public park and a planned charter elementary school.
The GNMAA recognition awards honors business and developments “that have had an extraordinarily positive impact on our neighborhood, The Magnificent Mile.”
Lakeshore East, being developed by Magellan Development Group on the New East Side, eclipses Chicago’s great neighborhoods by providing unparalleled access to the city’s central business district and downtown Chicago’s galaxy of cultural, recreational, shopping and dining opportunities. It is steps away from the internationally acclaimed Millennium Park.
The overall plan, designed by Skidmore, Owings and Merrill, won the prestigious American Institute of Architects Planned Community Award when the community was unveiled in 2002.
Among its many awards, Lakeshore East’s lush 6-acre park, the community centerpiece, was recently named the city’s Best New Park by Chicago magazine and the Best New Open Space by the Friends of Downtown Chicago.
Among the many attractions of the Lakeshore East Park, is free Wi-Fi or wireless broadband Internet access. Other park amenities include a children’s play park, a gated dog park, a large open meadow, water fountains, ornamental gardens and extensive seating.
Lakeshore East is considered a preview of the future, a neighborhood where people can live, work, shop, eat and pursue whatever interests them without having to get into a car. The plan that completes the ambitious Illinois Center development allows for the construction of up to 4,950 residences, a magnificent 6-acre public park, 2.2 million gross square feet of commercial space, 1,500 hotel rooms, 400,000 square feet of retail space and a proposed charter elementary school.
Residential developments at Lakeshore East currently include three completed and occupied buildings: The 29-story Lancaster, the community’s first condominium building with 209 homes; The Shoreham, a 46-story apartment tower with 548 residences and The Regatta, a 44-story condominium building with 325 units.
Under construction are 340 On The Park, a 62-story condominium tower; The Chandler; a 35-story condominium building; the 51-story The Tides, the community’s second rental property with 607 luxury units; and the 82-story Aqua, which will be the first high-rise in the city designed uniquely to combine condominiums, rental apartments, hotel and retail spaces. The first phase of The Parkhomes at Lakeshore East, an enclave of 24 gracious townhomes, has been brought to market. A diverse retail component of the community already includes leases for a full-service Treasure Island grocery market, First Third Bank facility and Café RoM coffee shop.
For additional information, please telephone the Lakeshore East Sales Center at (312) 540-9891 or visit the Website, www.LakeshoreEast.com.