Following on the heels of swift sales at “the Donald’s” Trump Tower, Teng & Associates, Inc. has announced plans for another soaring skyscraper to be built on a riverfront site, this one at 111 W. Wacker.
Waterview Tower will rise 82 stories, and as the name implies, the project promises condos with stunning views of the lake or the river – in some cases, both.
“The building’s slender elegant design will be a sophisticated addition to the Chicago skyline,” said Ivan Dvorak, general manager of Waterview, LLC, which is the name of the development company. “Its height and exceptional location provide every home with fantastic views of Lake Michigan, the river or both.”
The highrise will sit on a comparatively small floor plate, about 10,000 square feet, currently occupied by a parking lot that Teng & Associates owns. The first 11 floors will hold parking, followed by 11 floors of commercial space and two levels of mechanicals. The 25th floor is devoted to an amenities level and condominiums are located on floors 26 through 80.
Teng, which recently built the nearby Sofitel Chicago Water Tower, at 20 E. Chestnut, and Museum Square in Elmhurst, has chosen a modern look for the new highrise, according to Sean McMahon, development project manager.
“It’s a modern design, with a lot of glass and steel in a granite-clad building,” McMahon said. “Due to the city’s energy code, this will be one of the first residential buildings to have an actual curtain wall system, versus a painted concrete punched-window design.”
The curtain wall construction will be more efficient than the typical painted concrete tower, McMahon says, and more aesthetically pleasing.
Most units will be base priced from the $440s to $2.2 million. They offer around 1,087 to 3,192 square feet, two to four bedrooms and two to 3.5 baths. Penthouses, located on floors 69 to 80, have about 2,815 to 8,070 square feet, two to four bedrooms and two to 4.5 baths, base priced from about $1.9 million to $5.8 million.
Standard features include radiant floor heating, imported Poliform cabinets, granite counters, Kohler stainless steel sinks, Sub-Zero refrigerators, Miele ovens, marble master baths, Whirlpool tubs and ceiling heights of more than nine feet. Penthouses have some upgrades over the lower units, including most notably, ceiling heights of 11 feet. A number of full-floor units are available.
Waterview Tower’s amenity level includes a hospitality room with a gourmet kitchen and a roof garden with a sun deck and dog run. The fitness center will have an indoor lap pool, a Whirlpool and sauna, steam and massage rooms. The building also will have a concierge, 24-hour door staff, a business center and valet dry cleaning.
At press time, a temporary sales center for the development, www.waterviewtower.com, was is located on the 35th floor of 205 N. Michigan, and a new sales center was scheduled to open at 121 W. Wacker by the end of June.