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Chicago Suntimes -
Homelife
May 1, 2005
BY Bill Cuniff - Real
Estate Reporter
The first residents are
moving in at the Shoreham, a rental high-rise in the Lakeshore
East area.
The 46-story building will have 548 units. About 115 units
have been leased as construction tradesmen continue to put the
final touches on more apartments.
Monthly rents for studios, with 495 to 565 square feet,
range from $1,082 to $1,170.
Rents for convertibles, with 590 to 815 square feet, range
from $1,262 to $1,540.
Rents for 1-bedroom/1-bath apartments, with 660 to 900
square feet, range from $1,382 to $1,795.
Rents for 1-bedroom/1-1/2-bath apartments, with 1,120 to
1,350 square feet, range from $1,970 to $2,168 square feet.
Rents for 1-bedroom-plus-den apartments, with 890 square
feet, are $2,059.
Rents for 2-bedroom/2-bath apartments, with 1,170 to 1,300
square feet, range from $2,390 to $2,558.
Unit amenities include full-sized washers and dryers,
General Electric appliances and granite kitchen islands.
Building amenities include a 373-car parking facility, an
outdoor pool, a fitness center, a business center, a game room
and a catering kitchen.
The 765,000-square-foot property was designed by Loewenberg
Architects, and it was built by Walsh Construction.
The Shoreham is the first apartment building to open in the
new 28-acre Lakeshore East -- where the Chicago River meets
Lake Michigan. Lakeshore East is being developed by Magellan
Development Group Ltd. and NNP Residential & Development.
"Our new residents have responded enthusiastically to the
Shoreham's gracious amenities," said James R. Loewenberg,
president of NNP Residential & Development and Loewenberg
Architects.
The 28-acre site is slated to bring as many as 4,950 new
residences to Chicago's downtown lakefront over the next eight
to 10 years.
Other properties under development at Lakeshore East
include a trio of 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.
340 on the Park, a 62-story tower under construction
overlooking Grant Park.
Renters at the Shoreham can participate in a rent/buy
program for the other buildings at Lakeshore East.
"With this rental option at Lakeshore East, more Chicagoans
can take advantage of a community that offers spectacular
views of the river, Lake Michigan, and our own 6-acre public
park," said Loewenberg.
The Shoreham, 400 E. South Water Street, Chicago.
NNP Residential & Development, (312) 540-0400, or visit the
Web site, www.theshoreham.com.
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