DRAFT
For Immediate Release
April 15, 2005
For more information:
Cason Bufe, 312/377-0824
Betsy Cook, 312/377-0515
FIRST RESIDENTS FILE INTO the shoreham APRIL 15
Lifestyle is anything but taxing at Lakeshore East’s first luxury apartment tower
CHICAGO — In Chicago’s new Lakeshore East community, Tax Day marked the opening of a luxury apartment tower where the lifestyle is anything but taxing. The Shoreham, a 46-story tower at 400 E. South Water St. managed by NNP Residential & Development, opened April 15 with 85 of its 548 residences already rented, including 60 snapped up since the leasing center’s official launch two weeks earlier.
Lakeshore East, a 28-acre community created by Magellan Development Group Ltd. and NNP Residential & Development, is slated to bring as many as 4,950 new residences to Chicago’s downtown lakefront over the next eight to 10 years. Situated where the Chicago River meets Lake Michigan, Lakeshore East is one of the largest central-city urban developments underway in any major U.S. city.
The Shoreham, also created by the Lakeshore East development team, offers luxury apartments ranging from studios and convertibles to one- and two- bedrooms of up to 1,300 square feet. Apartments include an in-home laundry with a full-size washer and dryer, General Electric appliances and granite kitchen islands with a choice of finishes. Residents have free access to The Shore Club, a private floor featuring a Sky Garden Lounge, The Home Office, party suite with catering kitchen, billiards room and café. Also on the club floor, The Spa provides residents with a state-of-the-art fitness center, two whirlpools, sauna and steam rooms, massage area, outdoor pool and a landscaped terrace including a poolside deck and barbecue area. Public parking for 373 cars and 11,000 square feet of retail round out the 765,000-square-foot property, designed by Loewenberg Architects and built by Walsh Construction.
“Our new residents have responded enthusiastically to The Shoreham’s gracious amenities, which take Chicago apartment living to a new level,” said James R. Loewenberg, president of NNP Residential & Development and Loewenberg Architects. “With this rental option at Lakeshore East, more Chicagoans can take advantage of a community that offers every luxury, including spectacular views of the river, Lake Michigan, and our own 6-acre public park complete with free wireless Internet access.”
Other properties under development at Lakeshore East include a trio of luxury condominium towers: The Lancaster, a 29-story building which began occupancy in December; The Regatta, a 44-story property under construction overlooking the river at Wacker and Harbor drives; and 340 on the Park, a 62-story tower under construction overlooking Grant Park.
For more information about The Shoreham, call 312.540.0400 or visit www.theshoreham.com.
About Lakeshore East
The Lakeshore East mixed-use community, situated in the heart of the world-class Millennium Park neighborhood, received the 2002 National Honor Award for excellence in urban design from the American Institute of Architects (AIA). Incorporating the elements of a traditional Chicago neighborhood, Lakeshore East will include homes, retail, hotels, commercial and recreational opportunities, and community offerings from the newly completed 6-acre Park at Lakeshore East to a planned elementary public school for grades K-4. More information is available at www.lakeshoreeast.com.
About The Shoreham’s Development Team
Co-developers
NNP Residential & Development and Magellan Development Group Ltd. together create premier urban residences designed with sensitivity to their surrounding neighborhood. As co-developers the two companies have reintroduced apartment and condominium living to Chicago’s central business district, helped revitalize the River North community and launched Lakeshore East. In addition to The Shoreham at Lakeshore East, recent properties by NNP and Magellan include The Lancaster and The Regatta at Lakeshore East, One Superior Place, The Park Millennium and Grand Plaza, which recently won prestigious industry awards from The National Apartment Association (2004) and The Chicagoland Apartment Association (2003). Additionally, NNP recently accepted a 2005 leadership award from the Institute of Real Estate Management for excellence in management across its portfolio of properties. More information is available at www.nnpchicago.com andwww.magellandevelopment.com.
Loewenberg Architects
Architect
Chicago-basedLoewenberg Architects 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.
Walsh Construction
General Contractor
For more than 106 years, Walsh Construction has been performing high-qualityconstruction work in Chicago. The firm has built its reputation as the city’s largest and most accomplished contractor through successful projects including the Pritzker Pavilion at Millennium Park, TheHeritage condominiums, the new Stroger Hospital of Cook County, Blue Cross Blue Shield’s corporate headquarters and the new Chicago Police Headquarters. Now in its third generation of family ownership, Walsh has been named Crain’s Chicago Business’ Top Contractor for the past four years.
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