Historic 850 Lake Shore Drive Earns Recognition from Chicago Association of Realtors
By Gabriel Circiog, Associate Editor
The conversion of the historic Lake Shore Athletic Club building into luxury apartments has won the 2014 Chicago Association of Realtors Good Neighbor Award. The distinction honors groundbreaking new and newly rehabbed or redeveloped properties in the Chicago metropolitan region that have augmented economic vibrancy in their neighborhood and boosted local pride.
“Good Neighbor Awards demonstrate how real estate works to build stronger, vibrant communities,” says Matt Farrell, president of the Chicago Association of REALTORS® and managing partner at Urban Real Estate. “This is one of our association’s most important programs because it recognizes properties that exemplify how real estate can positively impact neighborhoods by fulfilling a need, helping the economy and boosting civic pride.”
The 850 Lake Shore Drive transformation project was developed by locally-based Integrated Development Group LLC in partnership with the National Electrical Benefit Fund. Originally built in 1927, 850 Lake Shore Drive opened as the exclusive Lake Shore Athletic Club. Integrated Development Group unveiled plans to convert the vacant building to luxury apartments in 2013 and, under the direction of architects Booth Hansen and general contractors Lend Lease and Valenti Builders, undertook the thorough renovation.
The recently reopened structure features 198 modern residences and upscale amenities such as a fitness center, indoor pool, business center, rooftop deck and a 3,500-square-foot “White Room” which includes a bar, flat screen TVs and billiards table. Residents can choose from over 60 floor plans ranging from studios to three-bedroom duplexes. Rents range from $2,190 to $12,000 per month.
“We’re honored to be recognized for this prestigious award,” says Matthew Phillips, CEO and President of Integrated Development Group. 850 Lake Shore Drive was a unique opportunity to save a building that was significant to the community, and we’re grateful that the real estate industry recognizes the building’s historic value and has been receptive to its new life as luxury rentals in Chicago.”
850 Lake Shore Drive is managed by Seneca Real Estate Advisors, with leasing and marketing being provided by @properties.Tags: 850 Lake Shore Drive, @properties, Architecture/Design, Booth Hansen, Brokers, Chicago Lead Story, Consumer, Developers, Development, economy, Finance/Investment, Integrated Development Group LLC, Investors, Lake Shore Athletic Club, leasing, Lend Lease, Local, luxury, Maintenance, Managers, multi-family, National, National Electrical Benefit Fund, Owners, Policy, Professional, property management, Property Type, Regional, Residential, Seneca Real Estate Advisors, Valenti Builders