CHICAGO-Carlson Hotels has agreed to put its first US-based Radisson Blu in the $4 billion, mixed-use Lakeshore East development along Lake Michigan. The $125 million hotel project will open in the first 18 floors of the Aqua condominium and apartment tower here.

The $475 million Aqua tower has 262 condos on floors 53 to 82, and 474 apartment units on floors 19 to 52. Brian Gordon, VP at Lakeshore East developer Magellan, says the apartments are all leased and 85% of the condos are sold. “We’re doing well, even though the Chicago multifamily market is down about 30% in the first quarter,” he tells GlobeSt.com.

He says construction will begin on the Blu by fall, once permits are attained and a contractor is found. The hotel should open in fall 2011.

Radisson has many Blu hotels around the world, but this will be the first in the US. “This venture is part of the moves we are making to align our US brand with our global standards,” said Thorsten Kirschke, EVP and COO with Carlson Hotels, in a statement.

The hotel will have a separate entrance at the Aqua building, located at 225 N. Columbus Dr., a block north of Millennium Park. The hotel will also feature a 12,500-square-foot ballroom, 27,000 square feet of meeting space, a 125-seat restaurant and bar, as well as access to an 80,000-square-foot deck with gardens, gazebos, swimming pools and cabanas; and fitness facilities, spa, game area and other amenities.

The 28-acre Lakeshore East project also includes the Shoreham and the Tides, two apartment towers with about 1,150 units, and the Chandler condo building. Locally-based Community Specialists manages the Chandler and Aqua.