Lakeshore East | U/C

[edsg25]

have all the sections of townhouses facing the park broken ground yet? most?

[ardecila]

Yep, all of them have been started. The Parkhomes are all being lumped into one phase by Magellan, so that they can be marketed all at once. There are parkhomes being built in, and adjacent to, the Aqua podium, and another two buildings of parkhomes diagonally across the park. The remaining two corners of the park are reserved for the Village Market (a Treasure Island) and an elementary school.

[Jibba]

Yesterday


A little while ago

[i_am_hydrogen]

Lakeshore East project lifts Magellan to top

By Susan Diesenhouse | Chicago Tribune reporter
August 1, 2008

In this new feature, we turn the spotlight on builders and developers in the Chicago area to give you insight on what sets them apart from the crowd.

A great location, moderate prices for a luxury product and a quick sellout has been the formula for developing Lakeshore East, an enormous project that has catapulted Magellan Development Group LLC into the top tier of Chicago developers...

http://www.chicagotribune.com/busine...,3137964.story

[i_am_hydrogen]

Taken today:

[Flubnut]

Townhouses under construction. 2 words: bor ing.

[spyguy]

Various LSE updates

Aqua
- The hotel component still in the negotiation phase. Magellan has 2 -3 contenders to replace the previous contracted hotel vendor (Strategic - Fairmont Suites).
- Pedway, Grand Staircase and public elevator will be open to the public summer 09.

Village Market
- Magellan is currently working on securing a new, larger grocer as well as a few other restaurants and an extension of 5th 3rd Bank.
- Treasure Island is no longer the grocer. The new plan expands from the previous 30,000 square foot boutique grocery store to a proposed 50,000 square foot full service grocery store. At this point Magellan is in the final stages of negotiating the lease. Grocer will be announce as soon as we have a secure lease.
- Once we have signed leases for multiple tenants and final city permits Magellan will feel more confident about securing financing and breaking ground.
- Magellan feels the new permits will occur in late spring.

School
- As of today the school is on hold.
- Discussion with the city and the Chicago Public School District isto incorporate a K-4 or possiby a K-8 school at the base of a future high rise development.
- Funding and population are challenges.

[spyguy]

http://www.chicagorealestatedaily.co...ws.pl?id=32883

Roundy’s exits West Loop lease, in talks on 2 other sites
By Eddie Baeb, Feb. 04, 2009

...Roundy’s also is in advanced talks for a new store in Lakeshore East, just northeast of Millennium Park, and would lease 50,000 to 60,000 square feet, roughly double the size of a Treasure Island grocery store that had been planned there.

[spyguy]

http://www.chicagorealestatedaily.co...ws.pl?id=33076

Roundy’s plans store in Lakeshore East
By Eddie Baeb, Feb. 20, 2009

...David Carlins, president of Magellan Development Group LLC, says he’s in talks with lenders for a roughly $40-million construction loan to finance the 140,000-square-foot building, which is to cost $60 million. Mr. Carlins hopes to get the loan and break ground in about 90 days

...At Lakeshore East, Fifth Third Bank has also leased space for a branch in the new retail building, and Mr. Carlins says Magellan plans to have a breakfast restaurant there.

“We’ve got Caffé Rom (located in a nearby apartment building) as our neighborhood coffee shop, but you need a breakfast place,” he says. “Now we’re looking for an Irish pub.”

[Mr Downtown]

A rendering of the Roundy's at Lake Shore East, from Midwest Real Estate News.

[k.smith904]

what ever happened with Architectonica? Was that scrapped?

[i_am_hydrogen]

Originally Posted by k.smith904

what ever happened with Architectonica? Was that scrapped?

No, it's still alive. Here's the thread for it. Please direct any further discussion there:

http://www.skyscrapercity.com/showthread.php?t=472344

[i_am_hydrogen]

image hosted on flickr


image hosted on flickr

[i_am_hydrogen]

image hosted on flickr

[geoff_diamond]

Amazing picture Hydro (the last one)!!! What kind of camera are you using, again?

[simulcra]

woah, hydro, what is that a pic of?

[The Urban Politician]

Originally Posted by spyguy

http://www.chicagorealestatedaily.co...ws.pl?id=33076

Roundy’s plans store in Lakeshore East
By Eddie Baeb, Feb. 20, 2009

...David Carlins, president of Magellan Development Group LLC, says he’s in talks with lenders for a roughly $40-million construction loan to finance the 140,000-square-foot building, which is to cost $60 million. Mr. Carlins hopes to get the loan and break ground in about 90 days

^ Okay, so it has now been over 6 months.... Is this project in trouble as well?

[geoff_diamond]

Originally Posted by simulcra

woah, hydro, what is that a pic of?

Looks like the little elevator tower on the east end of the park, to me.

[i_am_hydrogen]

Originally Posted by geoff_diamond

Amazing picture Hydro (the last one)!!! What kind of camera are you using, again?

Thank you. I use a Canon 5D.

Originally Posted by geoff_diamond

Looks like the little elevator tower on the east end of the park, to me.

Exactly. It allows one to access The Regatta, Chandler, and other buildings on the easternmost side of LSE.

[MWR]

Originally Posted by i_am_hydrogen

image hosted on flickr

The elevator to Heaven!