850 Lake Shore Drive Named Chicago Building Congress’ Merit Awards Finalist
Chicago, IL (PRWEB) March 12, 2014 -- 850 Lake Shore Drive, the transformation of the historic Lake Shore Athletic Club building to Chicago luxury apartments, has been named a finalist in the Chicago Building Congress’ 2014 Merit Awards program.
The Chicago Building Congress (CBC) is a vertically integrated trade association bringing together members from diverse fields related to the building industry, including developers, contractors, architects, engineers and financial professionals. Since 1956, the CBC’s Merit Awards program has honored outstanding construction projects in the Chicagoland area. 850 Lake Shore Drive is a finalist in the Rehab Construction category. Merit Awards winners will be announced at a ceremony on May 15th.
The project was developed by Chicago-based Integrated Development Group LLC, in partnership with the National Electrical Benefit Fund, based in Washington. Originally constructed in the 1920s as the Lake Shore Athletic Club, 850 Lake Shore Drive later became student housing for Northwestern University. However, by the early 2000s, the building was in danger of meeting the wrecking ball.
Chicago-based architects, Booth Hansen, oversaw the extensive renovation, with construction services provided by Lend Lease and Valenti Builders. The team overcame a number of design challenges posed by the building’s non-rectilinear shape and deep floor plates, a prohibition on altering façade openings due to the Lakefront Protection Ordinance, and the difficulties of adapting a nearly century-old structure for a new use.
Today 850 Lake Shore Drive offers 198 apartment residences in a LEED-certified building, with more than 60 individual floor plans. Amenities include an indoor swimming pool, fitness center, rooftop sundeck, elegant wood-paneled lobby and a two-story resident lounge in the club’s former Mediterranean Room. Many original features, including wood moldings, chandeliers, doors, ironwork and a limestone fireplace, were restored and can be found throughout the building.
“We’re incredibly proud to be recognized by our peers in the building industry,” said Matthew Phillips, CEO and President of Integrated Development Group. “Everyone involved in this project came to understand the history of the building and its importance to the neighborhood and the city. Today, when you walk into 850 Lake Shore Drive, you can’t help but to be amazed at the transformation.”
Currently in lease-up, 850 Lake Shore Drive features studio to three-bedroom apartments with rents ranging from $2,090 to $12,000 per month. The building is managed by Seneca Real Estate Advisors, with leasing and marketing provided by @properties.
For more information on 850 Lake Shore Drive, visit http://www.850lsd.com or call 312.915.0850.
About Integrated Development Group LLC:
Integrated Development Group LLC (IDG) is a Chicago-based real estate development firm with more than 25 years of combined experience in luxury multi-family communities. The firm’s mission is to create innovative and extraordinary residential communities offering the highest quality service.
About National Electrical Benefit Fund:
NEBF is the third largest Taft-Hartley pension fund in the U.S. with more than $12 billion in net assets. The Fund’s financial strength and successful, long-term track record in real estate investment assures the quality and viability of 850 Lake Shore Drive.
About @properties:
Established in 2000, @properties is the No. 1 independent residential brokerage firm in the Chicagoland area and one of the top 25 residential brokers in the U.S. @properties has divisions for residential and commercial brokerage; new-construction sales, leasing and marketing; property management and bank advisory services. For more information, visit http://www.atproperties.com.
Peter Olesker, @properties, +1 (312) 334-8360, [email protected]
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