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HIGHLAND PARK, IL – Construction is under way on Phase I of the Ravines, a condominium development overlooking Lake Michigan at the Town of Fort Sheridan in north suburban Highland Park. Plans for the $40 million first phase of the project call for 50 high-end condos in a nine-story building, according to Michael Newman, president and CEO of Golub & Co., the developer. The size is zoned for two 50-unit multifamily buildings.

The project is a significant part of the redevelopment of the former Ft. Sheridan army base, which was returned to civilian use in the late 1990s. The master plan for its redevelopment, approved in 1999, calls for a mixture of residential, commercial and recreational uses on some of the most desirable North Shore land in the metro area.”The Ravines Condominium stands atop wooded, beachfront bluffs, commanding lake, forest, ravine and garden views,” notes Lee Golub, EVP of Golub. Base prices for the units on floors one through six range from $363,000 to $827,000; the units on the upper floors will go for considerably more, from about $1 million to nearly $2.2 million. A quarter of the units have already been sold, to a market that Golub describes as empty-nesters moving from large houses on the North Shore.

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