COMPLETION NEARING FOR PHASE I OF LAKESHORE EAST PARKHOMES

CHICAGO — Construction is wrapping up for Phase I of Parkhomes, the residential component of the Lakeshore East mixed-use development currently under development in Chicago. Phase I comprises 25 residences in two groupings. The first grouping includes 10 three-story homes ranging in size from 3,565 to 3,956 square feet. The residences include private attached parking and optional private elevators within the homes. The second grouping includes 15 single-story, duplex and triplex residences in a seven-story building. Amenities include balconies and terraces, and units range in size from 2,300 to more than 3,000 square feet. The homes are priced from $1.2 million to $2.6 million. Initial occupancies are planned for this summer. Lakeshore East is being developed by Magellan Development Co. across from Chicago’s Millennium Park. Upon completion, the $4 billion project will include up to 4,950 residences, 2.2 million square feet of commercial space, 1,500 hotel rooms, 770,000 square feet of retail space, a 6-acre public park and a planned elementary school.