Chicago’s Smallest Neighborhood is Making Big Waves
Situated on the lakefront in downtown, Chicago’s New Eastside neighborhood is the site for big plans. A long-term development project has the area tagged for both residential and commercial growth that will change the Windy City’s skyline forever.
One of the amazing things about Chicago is its ability to continually mature and make the most of its scenic shoreline without compromising its natural beauty. In the tradition of the city’s historically exercised determination to preserve green space and to protect Lake Michigan beaches, the New Eastside is right on target to uphold the standard while providing thousands with brand new condo living – right on the water.
The New Eastside neighborhood occupies the narrow strip of land between the Chicago River, Lake Michigan, Randolph Street and Columbus Drive (the region directly north of Millennium Park). Although the grounds were previously used for a golf course, the landscape was never truly appreciated due to the complicated system of three-level roadways that surround the vicinity—which basically made it feel like you were teeing-off in a hole, encircled by a racetrack. Now, the potential for this prime piece of property is being realized with the construction of several high-rise condos, retail space, a 6-acre park and fountains, hotel accommodations and a possible elementary school for families who want to live in the area.
Spearheaded by Chicago’s own Magellan Development Group, whose work is seen throughout the Gold Coast, West Loop, Near North and River North neighborhoods, this undertaking is highly anticipated by plenty of Chicagoans in the market for downtown real estate. A handful of buildings have already been constructed, with several more in the master blueprints to be completed in the future. The condos will all be centered about the development’s award-winning, terraced park, which has been open to the public since July of 2005. In addition to offering outdoor space, the condominiums afford fantastic vistas of the river, the lake, Millennium Park and Michigan Avenue—there are no bad views here! A grocery store, coffee shop and bank help to achieve that real neighborhood feel which is steadily growing as the New Eastside gains popularity as Chicago’s new hotspot for buying a home.
Posted at 09:08AM Nov 29, 2007
by Spencer Mason in General
Chicago Real Estate Blog
