Bluewater 5440 proceeding carefully

Bluewater 5440

Is there anything wrong with a developer biding its time, testing the waters and exercising a little caution before plunging head-first into a project?

That seems to be the approach The Bluewater Companies is taking toward Bluewater 5440, the high-rise condo development planned for 5440 N Sheridan Rd in Edgewater.

According to sales rep Tina Macek, Bluewater hosted a private launch about three weeks ago and took 10 reservations. The developer hasn’t set a firm date for groundbreaking, but Macek hopes it will happen by the end of the year, which would mean that deliveries would start in mid-2010.

The 15-story, Booth Hansen-designed development will have 187 units that range from studios priced in the $160s to three-bedroom penthouses and townhouses priced as high as $1.32 million. The development will also include “beach homes,” which Macek admits is a bit of a misnomer, considering that the 5400 block of Sheridan Road is still west of Lake Shore Drive.

The beach homes are actually duplexes located on the ground floor of the high-rise. There will be five beach homes in the development, ranging in size from 916 to 1,200 square feet and priced from the $360s to the $470s. Below is a floor plan for a 1,200 square-foot, two-bedroom beach house.

Beach Homes

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