For Immediate Release
July 14, 2006
For More Information:
Larry Schaffel/PR Director
Tricia Van Horn/VP Sales & Marketing


Magellan Development Group has begun sales of the highly anticipated Parkhomes that form a new neighborhood at Lakeshore East, an emerging village in the heart of downtown Chicago steps from Michigan Avenue.

The grouping of 24 residences at the southeast sector of the $4 billion, 28-acre mixed-use development boasts a unique opportunity for single-family living with park and select lake views in downtown Chicago.

A collaboration of The Steinberg Group of San Jose, CA as design consultants and Loewenberg Architects has created a blend of brick, stone, wrought iron and copper highlights that Loewenberg Chairman Jim Loewenberg says is an innovative concept for Chicago.

A trio of design plans with private, attached parking ranges in size from 2,921 to 3,956 square feet of elegant living space, ranging in price from approximately $1.7 million to $2.5 million

One grouping includes 10 three-story homes with rooftop terraces that contain from 3,565 to 3,956 square feet of living area. Optional private elevators are available.

A second design format consists of 12 three-story plans with balconies and terraces combined in a seven-story building, ranging in size from 3,355 to 3,909 square feet.

Rounding out the design portfolio is a pair of luxurious single-level penthouses featuring private terraces atop the seven-story building. They provide 2,921 or 2,923 square feet of living area with views of Lake Michigan and the award-winning park at the nucleus of Lakeshore East.

“There is absolutely nothing in downtown Chicago that compares with these Parkhomes,” declared Tricia Van Horn, vice president of sales and marketing.

The Parkhomes present a sumptuous portfolio of features and finishes from expansive park and lake views to space expanding 10-foot living and dining room ceilings and 9-foot ceilings in bedrooms and family rooms. Standard are designer-style recessed lighting, individually controlled year-round heating and air conditioning and wiring for high speed Internet and Cable TV.

Finishes, for example, range from stained-on site oak flooring and staircases to marble in the foyer, luxury carpeting in designated living areas, crown molding in living, dining and master bedroom areas and natural granite windowsills. And much more.

Gourmet kitchens offer a choice of Snaidero or Fieldstone premium designer cabinetry, natural granite countertops and backsplashes, Hans-Grohe designer European-style fixtures, Franke undermount stainless steel sinks and a stainless steel appliance package that includes a SubZero refrigerator, Miele fully-integrated dishwasher, Wolf double-oven with separate cooktop and Wolf built-in microwave oven.

Continuing the parade of delights, the master suite includes a Closet Works organizational closet system and a choice of Snaidero or Fieldstone premium designer cabinetry and a luxurious master bath with marble flooring, vanity top and Jacuzzi whirlpool spa bathtub surround, stone shower base, frameless vanity wall mirrors, and Hans-Grohe designer European fixtures with Kohler sinks.

Parkhome owners also receive a complimentary one-year membership to the Mid-America Club at the nearby Aon Center.

A village in the heart of downtown Chicago steps from Michigan Avenue, Lakeshore East spans 28 acres, believed to be the largest parcel of downtown land under development in a major U.S. city. This $4 billion mixed-use development in the rapidly-growing New East Side incorporates all the elements of a traditional city neighborhood, a lifestyle center that includes homes, retail, recreational opportunities and community amenities such as a lush public park and a planned charter elementary school.

Across the street from the city’s acclaimed new Millennium Park, Lakeshore East is a preview of the future, a mixed-use development where people can live, work, shop, eat and pursue whatever interests them without having to get into a car.

The plan that completes the ambitious Illinois Center development allows for the construction of up to 4,950 residences, a magnificent 6-acre public park, 2.2 million gross square feet of commercial space, 1,500 hotel rooms, 770,000 square feet of retail space and a proposed charter elementary school.

Some 40 percent of the site will remain vibrant open space. Among the centerpiece park’s many attractions is free Wi-Fi or wireless broadband Internet access. Other park amenities include a children’s’ play park, a gated dog park, a large open meadow, water fountains, ornamental gardens and extensive seating. In addition, a series of smaller parks with special designs and water features will be added to the community.

For additional information, please telephone the Lakeshore East Sales Center at (312) 540-9891 or visit the Web site,