CHICAGO — Lendlease and Magellan Development Group have opened Cascade, a 37-story, 503-unit luxury apartment tower in Chicago’s Lakeshore East neighborhood. The opening coincides with the completion of Cascade Park, a nearly one-acre green space that is open to the public. Designed by bKL Architecture, Cascade offers studio to three-bedroom floor plans ranging from 509 to 1,332 square feet. Monthly rents start at $1,850.
The development features more than 45,000 square feet of indoor and outdoor amenity space, including a 32nd-floor lakefront terrace that offers views of Navy Pier and Lake Michigan. Residents have access to a fitness center, strength studio, indoor pool, golf simulator, game room, children’s playroom, music room, outdoor pool, dog park and pet spa.
Cascade residents who plan to transition into homeownership can take advantage of a unique program that enables them to sign a contract for a condo at Cirrus — the adjacent 47-story, 350-unit condominium tower that is scheduled to open this fall — while still leasing at Cascade. Half of the rent paid, up to 2.5 percent of the purchase price, can be recouped as a credit at closing.