Sept. 26, 2005
Lakeshore East to get apartment tower
The $2.5-billion Lakeshore East development on Lake Michigan just south of the Chicago River will have a second apartment tower with about 600 units. Leasing has been strong at the first tower, a recently completed 46-story, 549-unit building called the Shoreham, says David Carlins, president of Chicago-based Magellan Development, one of two developers on the project. The Shoreham, which opened April 15, is 83% leased, he says. The developers aim to break ground early next year.


Oct. 15, 2005
80-story tower eyed for Chicago River site
Developers plan an 80-story tower for the $4-billion Lake-shore East development on Lake Shore Drive south of the Chicago River. The high-rise, to be on Columbus Drive across from the Fairmont Hotel, is being designed by Chicago architect Jeanne Gang. Plans include about 500 apartments, nearly 300 condos and possibly a hotel with 195 units, says Joel Carlins, CEO of Magellan Development, which is developing Lakeshore East with Near North Properties. The Chicago-based firms are in talks with hotel operators and aim to market the condo units next year, Mr. Carlins says.