Bluewater 5440 still making waves in Edgewater?

Bluewater 5440A tip from a longtime Edgewater resident (thanks Marcum!) last week suggested that Bluewater 5440, a high-rise concept that’s been in the works for several years, may be edging closer to some sort of sustained development momentum.

We drove by the site at 5440 N Sheridan Rd and – sure enough – found a new construction trailer and signage touting the high-rise, which is being developed by the Bluewater Companies.

Bluewater 5440YoChicago has been keeping tabs on this development since May 2006, when the project was known as 5440 Sheridan. That concept called for 126 condos and a smattering of single-family residences on the site of the old Lakeside Motel.

It’s worth noting that our initial post on the development elicited an outpouring of gushy comments from principals involved with the project, including Cary Kerbel of KIII Inc. Excitement was high, but it appears that the project has moved forward under the radar since then.

It’s been about a year since we expected the sales center to open, but this intriguing comment from last Friday suggests that we might see a sales center for Bluewater 5440 in the next few weeks. According to Tina Macek, a sales agent for Bluewater Companies, the new design for Bluewater 5440 features 191 units in a 16-story high-rise, along with five beach homes and three town homes nearby.

The new, sleek Web site offers little more than a VIP registration form, and the phone numbers rings at the sales center of neighboring 5430 Sheridan, a project by the same development team.

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