Lakeshore East Welcomes Its First Residents
First Move-ins at Condo Tower The Lancaster Set Stage for New Neighborhood
CHICAGO – They don’t think of themselves as pioneers. But how else would you describe the first residents of a totally new neighborhood that one day will be home to thousands?
The first residents of downtown Chicago’s exciting new Lakeshore East community -- Rich and Sheila Schaefer -- were welcomed accordingly with a gourmet dinner courtesy of co-developers NNP Residential & Development and Magellan Development Group Ltd.
The Schaefers enjoyed a five-course meal — served by professional wait staff and accompanied by a violinist — in their new one-bedroom home at The Lancaster, 201 N. Westshore Drive. Designed by Chicago-based Loewenberg Architects, the strikingly modern luxury condominium tower marks the first property completed in Lakeshore East that, at 28 acres, is the largest urban development underway in any major U.S. city.
“Sheila is an architect, so design is important to us,” said Rich Schaefer, a computer consultant. “When we saw the ad for The Lancaster in the paper, we said ‘Finally, someone is designing a new condominium building that looks great architecturally.’”
“It isn’t just a box. It has great character,” continued Schaefer. “ From the curved glass curtain wall overlooking the new park at Lakeshore East to the minor details, someone put great thought into the design elements. And because multiple architects are involved, Lakeshore East will have the look of a real Chicago neighborhood.”
Sales have reached 95 percent of The Lancaster’s 209 residences, including one- two- and three-bedroom homes and five distinctive duplex designs, priced from the upper $300,000s to $1 million for the largest duplex plan. The 29-story building features a 2,500-square-foot state-of-the-art fitness center, enclosed parking for 233 cars, a private party room and rooftop sundeck.
For The Lancaster sales information, please contact Leila Zammatta at Magellan Real Estate at (312) 520-4000.
About Lakeshore East
Chicago’s newest residential community is situated where the Chicago River meets Lake Michigan. Inspired by traditional urban neighborhoods, Lakeshore East intertwines new apartments, condominiums, parkhomes, shops and recreation. Community offerings include a six-acre park and the first planned public elementary school in downtown Chicago. As the winner of the 2002 National Honor Award for excellence in urban design from the American Institute of Architects (AIA). Lakeshore East is an architectural triumph and a cultural achievement in the making .
In the heart of the world-class Millennium Park neighborhood, Lakeshore East currently has several other building under development, including The Shoreham, a 46-story luxury apartment tower scheduled for April 2005 move-in; The Regatta, a 44-story condominium property at Wacker and Harbor drives; and 340 on the Park, a 62-story condominium tower scheduled for construction later this year. Lakeshore East is slated to bring as many as 4,950 residences to Chicago’s downtown lakefront over the next eight to 10 years. More information is available at www.lakeshoreeast.com.
About The Lancaster’s Development Team
NNP Residential & Development
Co-developer
NNP Residential & Development develops, owns and manages luxury residential developments in and near downtown Chicago. NNP Residential & Development’s veteran management staff brings to each NNP Residential & Development apartment community a profound understanding of Chicago luxury living and ties to the city that national management companies are unable to match. In addition to Lakeshore East, NNP’s recent co-developments with Magellan include State Place, One Superior Place, The Park Millennium and award-winning Grand Plaza. More information is available at www.nnpchicago.com.
Magellan Development Group Ltd.
Co-developer
Founded in 1987, Chicago-based Magellan Development Group Ltd. creates premier urban residences. A leader in metropolitan development, Magellan is dedicated to exceeding purchaser and partner expectations, and to enhancing the surrounding community. More information is available at www.magellandevelopment.com.
Loewenberg Architects
Architect
Chicago-based Loewenberg + Associates Inc. provides architectural design, planning and construction management services for leading national real estate entities. The Loewenberg family, active in Chicago’s architectural community for more than 80 years, has designed many of Chicago’s premier planned development communities, including low-, mid- and high-rise residential projects, as well as commercial, educational, senior housing, government and commercial/office facilities.
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