In addition to providing space to the Terra Foundation for American Art, architect Lucien Lagrange says the new building's design will resemble structures from the 1930s. Terra Foundation for American Art and 664 N. Michigan LLC struck a deal in June that involved a ground lease as well as an option for the developers to buy the property. Terra Foundation for American Art will own retail and office space in the new development, according to the deal.
Priced from $1.25 million, units will range from 1,370-sf one-bedrooms to 5,700-sf penthouses. In addition to concierge, dining, valet and butler services, homeowners will have access to a full-floor private club. "We know a stylish, sophisticated address in the heart of Chicago will be another real estate success story," says Ritz-Carlton Hotel Co. president and chief operating officer Simon F. Cooper.
Ritz-Carlton Residences have been built in Baltimore, Boston, Dallas, Miami, New York, Philadelphia, Toronto and Washington, DC.
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