For Immediate Release
January 23, 2008
For More Information:
Larry Schaffel/PR Director
312/642-8869
Deanna Bennett/NNP Marketing Manager
312/440/8500
Magellan Development Group and NNP Residential LLC have grand opened The Tides, the second luxury rental tower at Lakeshore East, the multiple award-winning urban village rising near the confluence of Lake Michigan and the Chicago River.
Nearing completion on the north end of the $4 billion, 28-acre mixed-use development, the 51-story contemporary The Tides designed by Loewenberg Architects and built by Walsh Construction Co. will feature 608 rental units, 397 indoor parking spaces and 5,000 square feet of ground floor retail space.
The ground floor leasing center, known as the NNP Residential Rental Portfolio, will consolidate leasing activity for both The Tides and The Shoreham, the community’s first rental tower that was recently named the 2007 Community of the Year by the National Apartment Association.
According to Sara Torsella, director of leasing for NNP Residential LLC, one of downtown Chicago’s leading residential property management companies, first occupancy at The Tides will begin in February 2008.
A highlight of the grand opening will be a preview of the distinctive finish package being offered to residents of The Tides.
The Tides offers a combination of luxurious studio, convertible and one- and two-bedroom residences with a modern, contemporary feel renting from $1,320 to $3,270.
A dramatic kitchen finish package includes Impala Black granite islands, cherry cabinets, beige ceramic floor tiles, GE appliances and gas cooking. Baths include sleek tri-view medicine cabinets, oversized vanities with cultured marble, ceramic tub surrounds and tile flooring.
A host of other exceptional features in the pet-friendly building includes tiled entryways; expansive bay windows; glass-paneled private balconies with panoramic views from floor-to-ceiling windows; in-home laundry areas with full-size washers and dryers; spacious closets including walk-ins; wall-to-wall carpeting; individually-controlled heating and air conditioning; high-speed Internet access; and premium cable TV programming. Enhancing a distinctive lifestyle at The Tides is a unique amenity package known as The Shore Club. Its appealing attributes include:
Other conveniences for residents of the Tides are 24-hour maintenance and door staffs and on-site valet dry cleaner and package receiving room.
“In addition to delighting in well-appointed residences in an incomparable location for the ultimate urban experience, The Tides residents are also the beneficiaries of two unique programs, RentBUYTM and NNP At Your Service,” said NNP President Robin Loewenberg Berger.
Renters who sign up for RentBUY, without obligations, can apply 25 percent of their monthly rental payment toward up to 2.5 percent of the purchase price of a new condo at a participating Lakeshore East building. For example, that could translate to $7,500 if purchasing a $300,000 unit. Berger reports that, more than half the tenants at the Shoreham – many under the age of 34 – have signed up for the program and a number have already purchased condo homes at Lakeshore East.
Residents receive an NNP “At Your Service” card that provides discounts and similar incentives at leading downtown retailers including hotels and restaurants, health & fitness clubs, in-home services, the arts, banking facilities and entertainments services as well as private promotions and special events.
Steps from Chicago’s most popular attractions, including Millennium Park, Navy Pier, The Art Institute, Chicago Cultural Center, Museum Campus, Orchestra Hall, the Theater District and Michigan Avenue’s Mag Mile, Lakeshore East is believed to be the largest parcels of downtown land under development in a major U.S. city.
It incorporates all the elements of a traditional city community, a lifestyle center that includes homes, retail, recreational opportunities and amenities such as a lush, frequently awarded 6-acre public park as the front yard for The Tides and a planned elementary school.
Lakeshore East is widely regarded as a preview of the future, an urban village where people can live, work, shop, eat and pursue whatever interests them without having to get into a car. The master plan that won a National Honor Award for excellence in urban design from the American Institute of Architects (AIA) allows for the construction of up to 4,950 residences, the park resplendent with lush landscaping and cascading fountains, 2.2 million gross square feet of commercial space, 1,500 hotel rooms, and 400,000 square feet of retail space
For additional information on The Tides and Lakeshore East. please telephone 312-540-0400 or visit the Website, RentNNP.com