It’s not every day that a developer gets to announce the sellout of a new-construction high-rise, so I suppose Magellan Development made a little news today by closing the books on 340 on the Park, the 62-story, 343-unit condo tower at 340 E Randolph St on the southern end of Lakeshore East.
It took a while to reach the finish line — back in March 2008, I reported that the building was down to just two unsold homes. Magellan was actually marketing nine one- to three-bedroom homes in the building as of this morning, but the company’s marketing department tells me that these are all resales. A total of 19 resales are currently for sale in the tower, ranging from a 1,040 square-foot one-bedroom / one-bath listed in the $590s to a three-bedroom / 3.5-bath listed at $4.2 million.
Another 10 condos are available to rent from $2,600 to $10,000 a month.
Work on the Solomon Cordwell Buenz-designed building wrapped last year. The tower is bounded on the north by the Lakeshore East park and to the south by Grant Park, and features on-site amenities like an indoor winter garden, a common outdoor terrace, a fitness room, a 25-yard lap pool, and a clubroom.