Avenue East, a 27-story new-construction condominium tower, is planned for development at 160 East Illinois, a few steps east of Michigan Avenue’s “Magnificent Mile.”
The highrise will contain 133 condominium residences, indoor parking spaces, and 10,000 square feet of retail space, according to Residential Homes of America, Inc., developer of the project.
“A location like this comes along very rarely, so we designed a building that blends beautifully with our landmark neighbors along the Magnificent Mile,” said Ann Danner, president of Residential Homes of America.
“It’s hard to imagine a location in any city that offers such immediate access to the very best of shops and restaurants as well as entertainment and cultural venues,” said Cheryl Bancroft, principal and COO of Equity Marketing Services, Inc., the exclusive sales and marketing agent for Avenue East.
“Since Avenue East will offer floor plans with a wide variety of sizes, it will appeal to nearly everyone seeking either a primary residence or a pied-a-terre,” Bancroft said.
The unit mix ranges from studios to three-bedroom condos with 770 to 2,700 square feet, priced from the mid-$200s to more than $1 million.
Architects Robert R. Bistry and Arden Freeman of Built Form Architecture have designed a modern glass and concrete highrise with large terraces and recessed balconies. An existing five-story office building on the site will be razed to make way the new tower.
“It was important for us to design a structure that could stand the test of time, sympathetic to the limestone art deco neighbors like the Tribune Tower, the Wrigley Building and the Intercontinental Hotel, while preserving its own identity to the east,” said Bistry.
The building will feature a three-level green roof.
“The environmentally friendly roof-top terrace and sundeck will showcase Avenue East’s dramatic city views and adjoin a beautiful club room and fitness center,” Danner said.
A sales and marketing center, which will include a designer 2-bedroom model residence and building model, is scheduled to open at 160 East Grand Ave. in late February of 2005.