340 ON THE PARK RESIDENCES NEARLY 80 PERCENT SOLD AFTER ONE YEAR October 31, 2005 LR DEVELOPMENT PRESS RELEASE Buyers have snapped up almost 80 percent of the 344 luxury residences at LR Development Company?s 340 on the Park since its sales center opened one year ago. Located at 340 E. Randolph Drive in the heart of the new Lakeshore East community, the 62-story tower is within walking distance of the Magnificent Mile, Theater District and Cultural Mile. Remaining residences include one-, two- and three-bedroom, as well as penthouse, options and range from 1,281 to 5,489 square feet. Prices currently begin at $389,000 and reach the upper bracket. The modernist structure, by architects Solomon Cordwell Buenz & Associates, has a distinctive, prow-shaped profile that produces clear sightlines. Views take in the Chicago skyline and Lake Michigan, as well as Millennium and Grant parks and The Park at Lakeshore East. Inside the residences, open floor plans with strategically positioned walls keep the view corridors clear and admit abundant natural light throughout the homes. Designed for luxury living, the building features an amenities floor with a fitness center, 25-yard lap pool, clubroom, and wintergarden with oversized glass doors. Plans also call for more than 4,000 square feet of retail and six stories of underground parking. ?The success of 340 on the Park reflects the building?s total package,? said Laura Molk, senior vice president of sales and marketing for LR Development Company. ?Its combination of great location, unrivaled design, exceptional amenities, advanced technology infrastructure and environmentally friendly elements is unmatched anywhere in the market.? In addition, 340 on the Park offers an innovative interior design package by LR?s in-house team Synthesis Architecture and Design. Complementing the building?s coolly modern aesthetic, Synthesis created a warm palette of natural woods, glass and stone used throughout the residences. By unifying the selection of materials, as well as fixtures and appliances, Synthesis leveraged the building?s buying power. As a result, standard features at 340 on the Park include high-end options normally regarded as upgrades: Dornbracht faucets, imported Snaidero cabinetry and a GE Monogram stainless-steel gourmet kitchen suite. The sales center for 340 on the Park ? located at John Hancock Center, 875 N. Michigan Ave. ? is open 11 a.m. to 6 p.m. Monday through Thursday and 11 a.m. to 5 p.m. Friday through Sunday.