http://www.chicagotribune.com/busine...i-business-utl
INSIDE COMMERCIAL REAL ESTATE
Work to begin on Aqua tower
BY SUSAN DIESENHOUSE
Published February 28, 2007
On Wednesday, construction will get under way on the $474 million, 87-story Aqua residential tower in the Lakeshore East mixed-use development.
Once entirely built out, the approximately $4 billion community overlooking the lake is slated to have 4,750 residences, 1,200 hotel rooms, 250,000 square feet of commercial space, a school and a park.
The 2 million square feet of offices that were planned are likely to become residences instead, said the developer, Jim Lowenberg, co-chief executive of Chicago-based Magellan Development Group LLC.
"The construction of Aqua is an exciting step in the evolution of this new community," he said.
The nearly 2 million-square-foot undulating tower designed by Studio Gang Architects of Chicago will include 264 condominiums, 476 apartments, 210 hotel rooms, 37,165 square feet of offices and 17,536 square feet of retail. It will also feature a 27,500-square-foot indoor health club and an 80,000-square-foot outdoor pool area with cabanas.