In news from Chicago, one of the most unique developments in the Midwest, Aqua Tower, pushes the design envelope to the limit as well as investor confidence. This aspect of the 28 acre luxury community, Lakeshore East, is the poster child for Magellan Development Group’s veritable Chicago condo empire. If ever there were a reason to cheer a company’s confidence, this Chicago contingent is certainly in the running.
Magellan Development Group is without a doubt one of the most prolific high end development companies in the Midwest, if not the world. The company’s Lakeshore East community, is maybe the best example of the company’s merit. When completed this village in the heart of Chicago will include; 4,950 residences, 2.5 million square feet of commercial space, 1,500 hotel rooms, a school, and a superb 6-acre botanical park. And Aqua Tower is the crowning achievement in the development visually and architecturally.
This 87 story high rise has received or been nominated for just about every important architectural award worth winning including; the International Emporis Skyscraper of the Year Award – the world’s top honor for high-rise architecture, nomination for the 2010 International Highrise Award sponsored by the Deutsches Architekturmuseum of Frankfurt/Main, Germany (the only US nominee), and nominated for the prestigious 2011 Prix Residential High-Rise Award from the International Real Estate Federation.
As you can see from the images provided, everything about Aqua Tower is top drawer from the view to the other thoughtful design elements. Maybe best of all though, the neighborhood has to be one of the greatest selling points.
Co-CEO’s Joel M. Carlins and James Loewenberg have made Magellan Development Group into one of the most respected such companies in the United States. From green and sustainable theory to philanthropy, this group of business people have contributed a lot to Chicago. And in economic times where most growth initiatives dry on the vine, projects like Lakeshore East and in particular Aqua Tower stand for not only bravado, but hope for the future.
These guys know their business – and part of that business is attracting foreign money to purchase high end condos overlooking the jewel of the Midwest. Leila Zammatta, President of Magellan Realty, added this via their press release:
“We have purchasers and prospects from as ‘close’ as Toronto and Vancouver, Canada, and as far away as Barcelona, Dubai, Hong Kong, London, Madrid and Shanghai.”
Lakeshore East is a massive development, something on a scale not seen in the United States so often these days. It is thought to be the largest center city development in any major US metropolis. A little bit of something out of the 60’s or 70’s by magnitude. $4 billion or more in new money being funneled into the Chicago economy, at the core this is what Magellan is really doing (and risking) for Chicago’s future. Anyone who wants to live in the city would have to be blind not to look at Magellan’s Lakeshore East – and you know I seldom rave about corporations. More later on this.
For more information about Aqua Towers, Magellan Group, and/or the Lakeshore East development visit Magellan’s website, the Lakeshore East Facebook pages, or contact Tricia Van Horn at (312) 642-8869 or view the press release link provided.