Lincoln Property, Ryan Cos. Top Out on Luxury Chicago Tower
The partnership also revealed the name of the 31-story, $100 million-plus community that it's co-developing in Chicago's Gold Coast neighborhood.
Chicago—Lincoln Property Co. and Ryan Cos. US Inc. have topped out on the luxury Gold Coast apartment tower. They also unveiled the name for the 31-story tower: Aurélien, which refers to is location in Chicago’s renowned Gold Coast neighborhood. Located at 833 North Clark St., the $100 million-plus development will offer 368 luxury units and is targeted toward technology-drive, educated young professionals and urban couples looking for an upscale living experience.
Construction on the Gold Coast community began last July and is scheduled for completion by early 2017. Daiwa House Texas Inc. is the primary equity investor in Aurélien and US Bank is providing the construction financing.
A topping out ceremony was held recently at the site, with attendees including development, design and construction team members, as well as trades workers.
“The topping out ceremony is an appropriate point in the construction process to highlight the progress that has been made to date, while anticipating the completion of this significant downtown development,” said Jim Herbst, Division Manager, Ryan Co. US Inc. “Raising that steel beam gives further definition to Aurélien’s architectural scope. Celebrating that milestone with those working to make the project a reality was also very appropriate.”
He added that about 50 different subtractor companies have contributed to the tower’s construction.
Upon its opening, the tower will offer 78 studio and convertible units, 209 one-bedroom units, 75 two-bedroom units and six penthouse apartments. Unit sizes will range from 563 to 1,252 square feet while penthouses will range from 1,179 to 3,250 square feet.
Residences will offer nine-foot floor-to-ceiling windows, full-sized washers and dryers, and oversized walk-in closets. Most units will offer views of the downtown Chicago skyline and Lake Michigan, as well as private balconies.
As far as amenities go, residents will have access to a rooftop sundeck with an outdoor pool, private cabanas and grilling stations. The rooftop level will also have a resident lounge with cyber cafe, party room with gaming center, fitness center and panoramic views. The fourth-floor terrace will include a green roof and private terrace with bocce courts, fire pits and grilling stations. On the first floor will be the management office and leasing center, resident storage for bicycles and belongings, a dog run and grooming station, library, resident lounge, business center and conference area.
“Everything about Aurélien, from its name and location to its finishes, design schemes and color palettes, speaks to understated elegance, exceptional customer service and lifestyle convenience,” said Irini Boeder, assistant vice president of marketing for Lincoln Property Co.
The community is also located near two CTA stations and other public transportation, and offers easy access to Lake Shore Drive and the Kennedy Expressway for car travelers.
Aurélien is also within walking distance of Chicago’s Magnificent Mile, the downtown central business district, the Northwestern and Loyola universities graduate school campuses and the Northwestern medical center. Restaurants, clubs, retail and cultural amenities are also nearby.
Other project team members include: Ryan A+E Inc., the design architect; Antunovich Associates, the architect of record; Studio K, the interior designer; and TGRWA, the structural engineer.