For Immediate Release
July 5, 2005

For More Information
Tricia Van Horn, 312/943-2100
Sharon Kotas, 312/943-2100
Larry Schaffel, 2312/642-8869

MAYOR DALEY TO HEAD DELEGATION AT JULY 16
DEDICATION OF PARK AT LAKESHORE EAST

Mayor Richard M. Daley will head a delegation of city officials and community leaders formally dedicating the celebrated park at Lakeshore East Saturday morning, July 16.

Joining Mayor Daley on the podium will be Alderman Burton F. Natarus and Timothy J. Mitchell, superintendent and CEO of the Chicago Park District.

The public is invited to the 10 a.m. ceremony, which will be followed by a variety of activities including plant and herbal demonstrations, yoga and tai chi performances and tours of the multi-faceted park conducted by Master Gardeners of the University of Chicago.

The only public park ever developed by private enterprise in Chicago, the 6-acre park was recently added to the Office of Special Events’ 2005 list of Great Chicago Places and Spaces.

The park, designed by distinguished landscape architect James Burnett in collaboration with Ernie Wong and Chicago-based Site Design Group, is the centerpiece of the 28-acre Lakeshore East and was conceived as the front yard for the thousands of people who will be living and working in a neighborhood that is fast becoming one of the city’s crown jewels.

The largest of multiple planned landscaped areas with strong connections to the neighborhood's waterfront environment at the juncture of Lake Michigan and the Chicago River, the park features a colorful, enclosed children’s playground, a fenced dog park, numerous cascading fountains, and extensive seating. The nautical theme created by Lakeshore East co-developers Magellan Development Group and NNP Residential & Development also pays tribute to the fact that the site of the community once was actually a thriving port in the city’s evolution.

A botanical garden showcases more than 100 species of annual and perennial plants as well as 500 trees of 20 varieties. Visitors to the dedication ceremony will receive botanical guides that identify the gallery of plant life.

Though it won't be evident during the event, at night meticulously designed illumination highlights the park's winding pathways and impressive grand staircase entry from Randolph Street with backlighting that adds a mystical glow to the waters flowing through what ultimately serves as a peaceful urban oasis.

Ideally situated steps from Michigan Avenue, Lakeshore East is believed to be the largest parcel 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 neighborhood, including homes, retail, recreational opportunities and community amenities such as a planned public elementary school just north of the city’s acclaimed new Millennium Park.

With completion still eight to 10 years away, Lakeshore East already 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.
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.

The Lakeshore East plan 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, 770,000 square feet of retail space and a proposed 400-student public school. Phase I — which includes construction of roadways, utilities, infrastructure and initial residential buildings — is nearing completion. The developers will maintain ownership and design influence of all 28 acres to ensure a unified vision as Lakeshore East unfolds.

Residential developments at Lakeshore East currently include The Lancaster, the community's first completed condominium building, a 29-story building now substantially occupied; The Shoreham, a 46-story apartment tower nearing completion and partially occupied; The Regatta, a 44-story condominium building, also under construction; and 340 On The Park, a 62-story condominium tower under construction.

Pre-construction sales are now under way for The Chandler; a 35-story condominium building that will provide 286 more condominium homes. And the much-anticipated Parkhomes at Lakeshore East, bordering the new public park, are expected to be brought to market soon. All are experiencing an outstanding market response, reports the developer.

The entry to the park is from upper Randolph Street at Field Blvd., two stop signs east of Michigan Avenue. For additional information, about the park dedication, please telephone 312-943-2100, ext. 405, or visit the Web site, www.Lakeshoreeast.com.