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Magellan Development

ChicagoDowntown / Loop

A new River North apartment tower proposal

720 N LaSalle

Crain’s Chicago Real Estate Daily is reporting is reporting that a venture of Magellan Development and Mac Management is requesting a zoning change for the site at 720 N LaSalle currently occupied by a Howard Johnson motel. The proposed development is a 298-unit apartment tower designed by bKL Architecture. Crain’s also reported that a previously-announced ...

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Posted by Joe Zekas on April 3, 2014
ChicagoDowntown / Loop

The Shoreham apartments, 400 E South Water St, New East Side

The Shoreham

The Shoreham is a 46-story, 548-unit apartment tower in the 28-acre Lakeshore East development on Chicago’s New East Side. The Shoreham, which opened for occupancy in 2005, was the first apartment building completed in the Lakeshore East development. The building has garage parking and ground-floor retail space. Magellan Development was the developer and Walsh Construction ...

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Posted by Joe Zekas on January 9, 2014
ChicagoDowntown / Loop

The Tides apartments, 360 E South Water St, New East Side

Aqua and The Tides

The Tides is a 51-story, 608-unit apartment tower in the 28-acre Lakeshore East development on Chicago’s New East Side. Occupancy began in 2008. The building has an on-site parking facility with space for 357 cars. Magellan Development was the developer and Walsh Construction the general contractor. Loewenberg + Associates was the architecture firm. The apartments ...

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Posted by Joe Zekas on January 7, 2014
ChicagoDowntown / Loop

Aqua apartments, 225 N Columbus Dr, New East Side

Aqua, Chicago

Aqua is an 82-story mixed-use tower in the 28-acre Lakeshore East development on Chicago’s New East Side. The building has a 334-room Radisson Blu hotel on floors 4 through 18, 474 rental apartments on the 19th through 52nd floors, and 262 condominiums on floors 53 through 81. Aqua also has 9 townhomes, retail and office ...

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Posted by Joe Zekas on January 3, 2014
ChicagoDowntown / Loop

Is the rental tide receding at the Coast apartments?

Coast, Chicago

In mid-June we relayed a news release announcing that the new Coast apartment tower in Lakeshore East was 50% leased after four months on the market – “a record setting pace,” according to an executive of the building’s leasing and management firm. If you read between the lines of our earlier post you’ll sense our ...

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Posted by Joe Zekas on December 27, 2013
ChicagoDowntown / Loop

Wolf Point apartments, 326 N Orleans St, River North

Wolf Point

Three new high-rises are planned for the iconic Wolf Point site where the Chicago River branches north and south. More details are available at the development proposal’s website. The first tower will rise 48 stories to a 493-foot height on the west end of the site and house a maximum of 510 rental apartments. A ...

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Posted by Joe Zekas on September 10, 2013
ChicagoDowntown / Loop

Coast at Lakeshore East, 345 E Wacker Dr, New East Side

The Coast at Lakeshore East Chicago

The 49-story, 515-unit Coast, 345 E Wacker Dr, is the eighth residential high-rise at the Lakeshore East development in the New East Side neighborhood. It includes 18,000 square feet of retail space, 18,000 square feet of amenities and parking located below Wacker Dr. Pedestrian access is from Wacker Dr. Coast opened for occupancy in March ...

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Posted by Joe Zekas on August 29, 2013
ChicagoDowntown / Loop

What’s up with these Yelp reviews of The Tides?

Yelp screen cap

The reviews of The Tides apartment complex pictured above, posted four months apart, are almost word-for-word identical. Did the first reviewer’s experience so perfectly mirror the second’s that he simply copied her work, changing only the unit location and deleting a sentence, or are both merely fraudulent? If the latter, can a major developer actually ...

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Posted by Joe Zekas on July 15, 2013
ChicagoDowntown / Loop

Did Coast cheap out on its apartment finishes?

Coast Chicago

I haven’t visited the new Coast rental tower yet, but I’ve been hearing negative feedback about the apartment finishes from people in the industry. “Terrible,” was the one-word summary from the manager of a nearby apartment high-rise. A real estate broker active in the rental market had this to say: “They cut every cost they ...

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Posted by Joe Zekas on June 26, 2013
ChicagoDowntown / Loop

Coast reports being 50% leased

Coast at Lakeshore East

A news release received yesterday reported that the 515-unit Coast apartment tower, which began leasing in mid-February and opened in March, is 50% leased. That’s “a record setting pace,” said an executive of NNP Residential, the leasing and management agent for the 51-story building. Coast is the eighth residential high-rise in the Lakeshore East development ...

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Posted by Joe Zekas on June 19, 2013
ChicagoDowntown / Loop

Contextual views of the new Coast and Optima Center apartment towers

River panorama

Architects are generally sensitive to the context in which their buildings will be situated. Building renderings and photos, however, rarely show the context, or offer only a limited glimpse of the surroundings. This panoramic view of the north side of the Chicago River, seen from upper Wacker Drive, illustrates Optima Center‘s distinctive presence on this ...

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Posted by Joe Zekas on March 22, 2013
ChicagoDowntown / Loop

Take an apartment walk with Stephanie and Katie

Stephanie and Katie videos

Stephanie Konow and Katie Bommarito are former rental services agents who grew frustrated with that business and set out to connect Chicago tenants directly with landlords by founding Chicago Rentals Direct. Eighteen months ago they led me on a tour of the six rental high-rises in the New East Side neighborhood – the area bounded ...

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Posted by Joe Zekas on January 22, 2013
ChicagoDowntown / Loop

Five-developer stampede nearly packs River North nightclub

Kardas Photography, Gino's East

Have trouble wrapping your mind around that headline? Let the headline and lede of a recent Crain’s Chicago Business article unpack it: Developers stampede River North with apartment projects There are nearly enough developers with apartment proposals streaming into River North to fill one of the neighborhood’s thumping nightclubs. Five projects worth roughly $500 million, ...

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Posted by Joe Zekas on January 14, 2013
ChicagoDowntown / Loop

Plans presented for Wolf Point development

Wolf Point proposal, Chicago

The overnight email included this news release: The development team for Wolf Point unveiled a plan Tuesday night for a stunning, signature proposal for the long-dormant property at the junction of the north, south and east branches of the Chicago River. The three-phase project includes three towers – a residential building on the western portion ...

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Posted by Joe Zekas on May 30, 2012
ChicagoDowntown / Loop

Construction checkup – The Coast at Lakeshore East

Coast at Lakeshore East Chicago

The Coast, 345 E Wacker Dr, is about two-thirds of the way toward its ultimate 49-story height. It appears to be on track to meet its targeted completion date of February 2013. When it’s complete, The Coast will include 499 apartments, 18,000 square feet of retail space, 18,000 square feet of amenities, and parking below ...

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Posted by Joe Zekas on May 23, 2012
ChicagoDowntown / Loop

the LEX targets early April rentals in the South Loop

2138 S Indiana Chicago

ST Residential has appointed two affiliates of Magellan Development Group as development manager and property manager of the LEX, a 329-home multifamily residential development located at 2138 S. Indiana in the South Loop. First occupancy is targeted for early April 2012. From today’s news release: “Magellan has great experience as a successful high-rise developer and ...

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Posted by Joe Zekas on March 13, 2012
ChicagoNorth Side

Lathrop Homes redevelopment moves forward

Lathrop Homes Chicago

The 920-unit Lathrop Homes, a Chicago Housing Authority (CHA) project, has been largely vacant for several years. On Tuesday, according to Chicago Real Estate Daily, the CHA voted to authorize Lathrop Community Partners, a consortium of developers, to move forward with planning for the project’s redevelopment, which may involve as many as 1,200 mixed-income housing ...

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Posted by Joe Zekas on September 21, 2011
ChicagoDowntown / Loop

Will the new Lakeshore East apartment tower block Aqua’s views?

345 E Wacker Dr

If you want to stay current on news about Chicago high-rise developments, the SkyscraperCity High-rise Development News forum is a must-visit. The forum is often the first place to break news about Chicago high-rises. A hat tip to the forum for alerting me to this recent update on Lakeshore East’s “Building A” at The Chicago ...

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Posted by Joe Zekas on May 16, 2011
ChicagoDowntown / Loop

Curbed: Lakeshore East market nears completion

Lakeshore East retail, courtesy of Curbed

Remember that supermarket that Magellan Development started building at Lakeshore East last year? It’s almost finished. Mark Boyer of Curbed stopped by recently and shared some snapshots from his trip this afternoon, including the one above. The 105,000 square-foot Village Market Center will be home to a Mariano’s Fresh Market, a III Forks steakhouse, and ...

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Posted by Joseph Askins on May 10, 2011
ChicagoDowntown / Loop

New Lakeshore East tower could break ground in June

New apartment high-rise at Lakeshore East, designed by Brininstool, Kerwin & Lynch

On Monday, Curbed’s Mark Boyer shared some new renderings of Magellan Development‘s next endeavor at Lakeshore East: a Brininstool, Kerwin & Lynch-designed apartment tower planned for 345 E Wacker Dr. Today, David Roeder of the Sun-Times followed up with a short report on the building’s design and timetable for construction. The 49-story high-rise will have ...

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Posted by Joseph Askins on May 4, 2011