Height: 495 ft
Floor count: 40
Location: North Michigan and East Erie
Architect: Lucien Lagrange Architects
Developer: Prism Development Company LLC
(Posted by spyguy)
Luxurious new Ritz-Carlton Residential Tower to rise in the heart of Chicago's 'Magnificent Mile'
Tuesday, March 07, 2006
Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Maryland, and Chicago-based Prism Development Company, announced Prism's plan to construct a 40-story, 360,000-square-foot, Ritz-Carlton-managed residential tower on a prime site at North Michigan Avenue and Erie Street in the heart of the 'Magnificent Mile'.
Formerly occupied by The Terra Museum of American Art which closed its doors in October 2004, the site has long been considered one of the premier development opportunities in downtown Chicago due to its prominent North Michigan Avenue address, proximity to world-class shopping, dining and entertainment; and convenience to Chicago's leading corporate headquarters.
Designed by the renowned Chicago architectural firm, Lucien Lagrange Architects, designer of many of Chicago's grandest residential buildings, The Ritz-Carlton Residences, Chicago, Magnificent Mile will feature 86 ultra-luxurious residences ranging in size from approximately 1,370-square-foot, one-bedroom homes to grand penthouses of more than 5,700 square feet. The building will also include parking for 177 cars, 21,769 square feet of retail space, and the offices of The Terra Foundation.
"The Ritz-Carlton Residences will be the architectural icon that will bring back the understated elegance of the 1930's," said Lucien Lagrange.
Just one of the special features offered by the project is a full-floor private club reserved exclusively for homeowners. Elegantly styled by celebrated architecture and interior design firm, Darcy Bonner and Associates, the club will feature a grand salon, private dining room/board room, a billiard room and wine cellar, a screening room, a state-of-the-art exercise facility and spa.
"The club represents a synthesis of modern luxury with the classically inspired proportions and styling of the 1930's," added Darcy Bonner.
Ritz-Carlton management, concierge and maintenance staff will provide an unprecedented level of personal service to residents and their guests. Consistently rated as America's highest quality luxury hotel operator, The Ritz-Carlton Hotel Company opened its first residence project in 2000. Since that time, Ritz-Carlton has expanded its residential property offerings to include residences in Baltimore, Boston, Coconut Grove, Dallas, Jupiter, Molasses Reef, New York, Philadelphia, Sarasota, Toronto, Vail, Washington, DC, Grand Cayman and Berlin. Ritz-Carlton currently operates 59 hotels in the Americas, Europe, Asia, the Middle East and Africa.
"Since the introduction of The Ritz-Carlton Residences concept, it has proven to be a residential lifestyle choice that appeals to everyone from first time home owners looking for the convenience of an urban address to those leaving large homes in the suburbs and opting for a new experience, which includes being catered to by staff trained by The Ritz-Carlton in the fine art of service and hospitality. Many of our owners have several homes in cities around the world. We know a stylish, sophisticated address in the heart of Chicago will be another real estate success story," said Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company.
Prism Development Company principals, Bruce Schultz and Jon Rodgers, said the building will exemplify the quality of architecture envisioned in Daniel Burnham's 1909 Plan of Chicago. The highest quality materials and finishes, combined with a distinctly Parisian styling, will usher in a new era of luxury living for those who "expect the extraordinary." Homeowners in The Ritz-Carlton Residences, Chicago, Magnificent Mile will enjoy concierge, dining, valet and butler services.
Sales of The Ritz-Carlton Residences, Chicago, Magnificent Mile are being coordinated by Rubloff Residential Properties. Home prices start at approximately $1.25 million. The project sales office is located at 625 North Michigan Avenue, Suite 500.
Construction of the new tower is scheduled to begin this fall with completion in 2008.
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Recent construction photos:
Taken by spyguy (5/29/10)
Taken by george (6/18/10)