850 Lake Shore Drive Named Chicago Building Congress' Merit Awards Finalist
Mar 12th, 2014
Luxury Apartments On North Lake Shore Drive Combine Modern Amenities, Historic Renovation
850 Lake Shore Drive, the transformation of the historic Lake Shore Athletic Club building to Chicago luxury apartments, has been named a finalist in the Chicago Building Congress’ 2014 Merit Awards program.
The Chicago Building Congress (CBC) is a vertically integrated trade association bringing together members from diverse fields related to the building industry, including developers, contractors, architects, engineers and financial professionals. Since 1956, the CBC’s Merit Awards program has honored outstanding construction projects in the Chicagoland area. 850 Lake Shore Drive is a finalist in the Rehab Construction category. Merit Awards winners will be announced at a ceremony on May 15th.
The project was developed by Chicago-based Integrated Development Group LLC, in partnership with the National Electrical Benefit Fund, based in Washington. Originally constructed in the 1920s as the Lake Shore Athletic Club, 850 Lake Shore Drive later became student housing for Northwestern University. However, by the early 2000s, the building was in danger of meeting the wrecking ball.
Chicago-based architects, Booth Hansen, oversaw the extensive renovation, with construction services provided by Lend Lease and Valenti Builders. The team overcame a number of design challenges posed by the building’s non-rectilinear shape and deep floor plates, a prohibition on altering façade openings due to the Lakefront Protection Ordinance, and the difficulties of adapting a nearly century-old structure for a new use.
Today 850 Lake Shore Drive offers 198 apartment residences in a LEED-certified building, with more than 60 individual floor plans. Amenities include an indoor swimming pool, fitness center, rooftop sundeck, elegant wood-paneled lobby and a two-story resident lounge in the club’s former Mediterranean Room. Many original features, including wood moldings, chandeliers, doors, ironwork and a limestone fireplace, were restored and can be found throughout the building.
“We’re incredibly proud to be recognized by our peers in the building industry,” said Matthew Phillips, CEO and President of Integrated Development Group. “Everyone involved in this project came to understand the history of the building and its importance to the neighborhood and the city. Today, when you walk into 850 Lake Shore Drive, you can’t help but to be amazed at the transformation.”
Currently in lease-up, 850 Lake Shore Drive features studio to three-bedroom apartments with rents ranging from $2,090 to $12,000 per month. The building is managed by Seneca Real Estate Advisors, with leasing and marketing provided by @properties.
For more information on 850 Lake Shore Drive, visit http://www.850lsd.com or call 312.915.0850.
About Integrated Development Group LLC:
Integrated Development Group LLC (IDG) is a Chicago-based real estate development firm with more than 25 years of combined experience in luxury multi-family communities. The firm’s mission is to create innovative and extraordinary residential communities offering the highest quality service.
About National Electrical Benefit Fund:
NEBF is the third largest Taft-Hartley pension fund in the U.S. with more than $12 billion in net assets. The Fund’s financial strength and successful, long-term track record in real estate investment assures the quality and viability of 850 Lake Shore Drive.
Established in 2000, @properties is the No. 1 independent residential brokerage firm in the Chicagoland area and one of the top 25 residential brokers in the U.S. @properties has divisions for residential and commercial brokerage; new-construction sales, leasing and marketing; property management and bank advisory services. For more information, visit http://www.atproperties.com.
Crain’s Chicago Business recently spoke with Integrated Development Group’s Matt Phillips and 850 Lake Shore Drive resident Elizabeth Khazzam about a new trend in real estate: the pied-a-terre rental. The article noted that 850 Lake Shore Drive is one of the latest developments reflecting this trend, with an estimated 12-15 percent of tenants renting pieds-a-terre in the building.Learn more
On May 18, 2014, 850 Lake Shore Drive was featured in the Chicago Tribune’s “Apartment Hunt” column. In the article, reporter Sharon Stangenes praised 850 Lake Shore Drive for its unique history and provided an overview of residence features and availability.Learn more
Historic Gold Coast building featuring new luxury apartments earns recognition from Chicago Association of REALTORS®Learn more
850 Lake Shore Drive was featured in the April 2014 issue of CS Magazine. In the story, Matt Phillips of Integrated Development Group and Kathleen Ullo of @properties discussed the historical significance of the luxury apartment building, including the historical artifacts that have been incorporated into its interior design.Learn more
In the April 2014 issue of Michigan Avenue Magazine, Matt Phillips of Integrated Development Group and Gail Lissner of Appraisal Research Counselors explained why 850 Lake Shore Drive is “very different from the competition” in terms of the building’s unit sizes, views and character.Learn more