In July 2005, with first occupancy more than a year away, developers Magellan Development Group and NNP Residential & Development said they were nearly sold out at the Regatta, a 44-story condo tower under construction at 400 E Waterside Drive, in the new Lakeshore East community. “Before we started marketing we already had a waiting list,” said Joel Carlins, president of Magellan. “We ran our first ad at the beginning of June and by that time we had 258 units sold.”

The new highrise, which will have 325 condominiums, was 95 percent sold in July. Remaining units range from 650 to 2,500 square feet and are priced from the $250s to $1.2 million. Each home offers a variety of granite, hardwood and marble finishes; private balconies and terraces; and views of the river, lake and skyline as well as of the park at the center of Lakeshore East.

Building amenities include a private indoor swimming pool, a Whirlpool, a party room with full-service kitchen, a fitness center, a 24-hour doorman, full-time concierge service and a private theater with surround sound.

“What we’re trying to do is include a lot of luxury amenities,” Carlins says. “Plus, the park itself will offer up a series of natural amenities. Right now we have extensive water fountains; we have 20 varieties of trees and 100 varieties of perennials and great lighting patterns at night.”

Contextual architecture

Architects DeStefano & Partners and Loewenberg & Associates optimized the surrounding water and green space with a glass curtain wall that that will create stunning views and reflect the Regatta’s surroundings.

The nautical theme that dominates Lakeshore East – and much of Carlins' life outside of development – is also present in the architecture.

“The screen wall has a sail shape to it to play on that theme,” DeStefano Senior Associate Rebecca Callcott says.

The Regatta has proven especially popular with empty nesters moving back to the city or wanting a second home, as well as with young families looking for an intimate community downtown, according to Carlins.

“I think people like the idea of buying into a new neighborhood as opposed to just a building.”

And the $1.5 billion Lakeshore East has the scale to be its own neighborhood. The community sits on 28 acres of Illinois Center land that was temporarily used as a nine-hole golf course and is bounded by Randolph Street, Columbus Drive, Wacker Drive and Lake Shore Drive, where the lake meets the river.

Plans call for a whopping 5,000 residential units, 750,000 square feet of retail, 1,500 hotel rooms, a park and a charter school, according to Carlins. Construction on the Regatta, www.lakeshoreeast.com began in December 2004, and first occupancy is planned for July 2006.

More highrises