LR Development Co. will build in the 300 block of East Randolph Street, east of the Blue Cross/Blue Shield building. That will give Weeks' company's units views of Lake Michigan, Millennium Park, Grant Park or the Downtown skyline.
The condominiums, likely to average $1 million in price and designed by Skidmore, Owings & Merrill LLP, will be part of a larger development of the former Illinois Central Gulf railroad property that will eventually see 5,000 new multifamily units being created by Magellan Development Group Ltd. and Near North Properties, Inc.
LR Development is building three condominium buildings on Lake Shore Drive as well as one in River North. This important project marks another step in ensuring that Lake Shore East will be among the finest new residential communities anywhere in the country," says Joel Carlins, president of Magellan Development Group Ltd., in a statement.
Carlins' company is selling 207 units at the Lancaster building at Lakeshore East.
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