Lakeshore East

 

Property Type:
28-acre Master Planned Mixed Use Community

Location:
Downtown Chicago, where the Chicago River meets Lake Michigan; bordered by Lakeshore Drive on the east, Columbus Drive on the west, Wacker Drive on the north and Randolph Street on the south.

Architectural Team:
Skidmore, Owings & Merrill (Master Plan)
Loewenberg Architects (The Lancaster, The Shoreham, The Tides)
DeStefano + Partners (The Regatta, The Chandler)
Solomon Cordwell Buenz & Associates (340 on the Park)
The Steinberg Group (The Parkhomes at Lakeshore East)
The Office of James Burnett (Site Design)
Site Design Group (The Park at Lakeshore East)
Studio Gang Architects (Aqua)

Size/Elements:
28-acre master plan calling for:
40% open space including a 6-acre botanical park
4,950 residences
2.2 million gross square feet of commercial space
1,500 hotel rooms
Up to 770,000 square feet of retail, including a 100,000 square foot Village Market Center Planned Elementary School

Web Site:
www.LakeshoreEast.com

Property Description:
Rising in the heart of downtown Chicago, steps from such world-class attractions as Michigan Avenue and Millennium Park, Lakeshore East spans 28 acres, believed to be one of the largest parcels of downtown land under development in a major U.S. city. This $4 billion mixed-use development in the rapidly growing New East Side incorporates all the elements of a traditional city community, a lifestyle center that includes homes, retail, recreational opportunities and amenities such as a lush 6-acre public park and a planned elementary school.

Lakeshore East is rising on the threshold of two of Chicago's greatest attractions, its magnificent lakefront and the Chicago River. And the complex is across the street from the city's acclaimed new Millennium Park. Lakeshore East has received several awards, including a National Honor Award for excellence in urban design from the American Institute of Architects (AIA) for its master plan as well as the FIABCI Prix d’Excellence.

Prior to its transformation to the most vibrant new community in Chicago, the Lakeshore East site has served as a transshipment port serving Chicago's growing economy in the mid 19th century, an Illinois Central railroad freight yard and terminus and, most recently, a par-3, nine-hole urban golf course.

Lakeshore East is a preview of the future, a mixed-use development 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.

Some 40 percent of the site will remain vibrant open space. 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. The crown jewel of the community, it has been named the Best New Park in Chicago by Chicago magazine and the city's Best New Open Space by The Friends of Downtown

Residential developments at Lakeshore East currently include five completed and occupied buildings, The 29-story Lancaster, the community's first condominium building with 209 homes and The Shoreham, a 46-story apartment tower with 548 residences, The Regatta, a 44-story condominium building, 340 on the Park, a 62-story condominium building, and The Chandler, a 35-story condominium building. The 51-story The Tides, the community's second rental property with 607 luxury units is projected for completion in 2008 while construction continues on 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, and the first phase of The Parkhomes at Lakeshore East, an enclave of 24 gracious townhomes, are also under construction A diverse retail component of the community already includes leases for a full-service Treasure Island grocery market, Fifth Third Bank facility and Café RoM coffee shop.