jameson in the news
January 11, 2007
Jameson Development:
CONSTRUCTION AND SALES MOVING RAPIDLY AHEAD AT 50 EAST CHESTNUT
CHICAGO-Luxury condominium sales and construction are moving rapidly ahead at 50 East Chestnut, a 39-story boutique development now rising at the corner of Rush and Chestnut in the Gold Coast.
"50 East Chestnut-where each condominium occupies an entire floor-is so private it will be like owning a single-family home in the sky," said developer Charles Huzenis when describing the future lifestyle of luxury condominiums now under construction just west of Michigan Avenue's "Magnificent Mile."
"The 21st floor has been poured at 50 East Chestnut, and the building is scheduled to be topped out in April of 2007," said Steve Mandell, partner in Rush Chestnut, LLC, the developer.
First residential units are slated for occupancy in September of 2007, and the building is scheduled for completion in spring of 2008, Mandell said.
50 East Chestnut is being built on an 11,000-square-foot site. The architectural firm of Solomon Cordwell Buenz & Associates designed the handsome high-rise with a pre-cast concrete façade faced with granite and limestone on the first four floors.
"The rich granite and limestone base is similar to the high-quality buildings erected on the Gold Coast at the turn of the century," said project architect Martin Wolf of Solomon Cordwell Buenz.
"50 East Chestnut is a step above other new-construction condominium developments now underway in Chicago," Wolf noted. "The building will have spacious residences with abundant terraces and fabulous views in a great location."
"Condominium sales have reached 35-percent mark at 50 East Chestnut," said Ellen Nemirow, director of client services for Jameson Development. A luxury condominium model and design center is open Saturdays and Sundays at the John Hancock Building, 875 N. Michigan Avenue, suite 3860.
"We are showcasing a selection of rooms from the 50 East Chestnut floor plans in the model and design center," said Nemirow.
Visitors to the model and design center step through a set of double doors leading into a grand foyer with tray ceiling and cove lighting. A highlight of the luxurious model is the spacious kitchen with hardwood floors, large island with seating, Snaidero cabinetry plus top-of-the-line appliances including a Sub Zero 48-inch side-by-side refrigerator/freezer.
A powder room and master bath also are showcased in the model. The master bath includes a luxurious tub, natural stone shower and bench, separate water closet room and double vanities separated by a recessed make-up counter with seating all along one wall.
"The master baths are extraordinary at 50 East Chestnut," Nemirow said. "They have an oversized shower with glass doors that see through the marble tub that extends out beyond the building's wall to create a bay window area."
The 50 East Chestnut design center includes a presentation area featuring a scale model of the building and a view overlooking the construction site. Buyers can also view all of the standard offerings, including cabinetry, tile, flooring and plumbing fixtures.
"Many luxury condominium buyers at 50 East Chestnut are selling large North Shore and west-suburban homes and moving to the Gold Coast, but they are not making much of a sacrifice in space," Huzenis said.
That's because the high-rise features residences with square footage ranging from 3,579 to 3,937 square feet-similar living space to a suburban single-family home. Prices for the luxury condominiums range from $2,476,900 to $3,325,900.
"With so few residences, this is a very intimate building where residents will enjoy plenty of privacy unlike many of the new larger high-rises currently on the market downtown," Huzenis said.
Each of the full-floor residences offers a private elevator foyer, two outdoor terraces, and elegantly finished living spaces geared to gracious entertaining.
Contributing to the privacy factor, each condominium has windows with 270-degree views, 3 bedrooms, a library and family/media room as well as large living and dining rooms and kitchens.
"It's just like living in a single-family home," said Mandell. "Typically, luxury condominium buyers who seek this much space are often forced to try and purchase two adjacent units. This becomes both difficult and costly."
The 50 East Chestnut high-rise also has 51 individually deeded parking spaces available for sale, which will be for the exclusive use of the condominium owners.
The condominiums at 50 East Chestnut also offer a host of amenities including private garden terrace with dog run, top-floor fitness center with incredible views, 24-hour doorman, personalized concierge services and a self-park garage.
One of the most popular penthouse floor plans is found on floors 37 and 38. The three-bedroom floor plan has 3,550 square feet of living space plus two terraces encompassing 285 square feet of space. The 38th floor has 11-foot ceiling heights.
Entry into the residence is via the private elevator, which opens in the middle of the residence into a 15-foot-long foyer, which opens into a grand foyer measuring 8½ by 14 feet. The grand foyer divides the residence into two zones. Each residence has 9½-foot ceiling heights.
To the left, the grand foyer leads past a generous-sized butler's pantry and large laundry room directly in the kitchen.
The kitchen measures 15 by 11 2/3 feet and features a center work island, plenty of counter space, cabinetry and access to one of two outdoor terraces.
Down the hallway from the kitchen is one of two secondary bedrooms, which measures 11 1/3 by 17 2/3 feet. The room, which has its own private full bath and a large walk-in closet, also has access to the terrace.
To the right of the grand foyer, a long hallway leads to another secondary bedroom measuring 11 2/3 by 14 feet. The room has a private full bath, walk-in closet and access to the second terrace.
Down the hall and around the corner is the master bedroom, situated in the corner of the plan for maximum privacy.
The master bedroom measures 17 by 15 feet and has a large walk in closet as well as access to the terrace.
"Luxury, privacy and exclusivity are incorporated into the planning and design of 50 East Chestnut," said Mandell. "Everything in the building and common areas, as well as the units themselves has been carefully thought out with the discerning buyer's tastes in mind."
"We expect people who enjoy living near the lake and savor the excitement of living in the city to purchase at 50 East Chestnut. These are people who seek all of the amenities that Michigan Avenue and the Rush Street area have to offer," he added.
"50 East Chestnut is one of the last premiere sites left in the city that is close to the Magnificent Mile and the lakefront," Mandell said.
Residents, retailers, shoppers and plenty of tourists enjoy all of the luxuries that life has to offer in the Gold Coast.
Some of the attractions of the area include spectacular views, world-renowned architecture, the city's finest shopping, cultural activities and an assortment of luxury hotels and high-rise condominiums.
The neighborhood around Michigan Avenue also has a whopping 436 restaurants and 460 retail stores and shops within the service area. Nearby shopping treasures include Bloomingdale's, Neiman Marcus and Nordstrom.
Well-known names in fine dining such as Spiaggia, Bistro 110, Le Colonial, Gibson's and more are found at almost every corner.
Add the Gold Coast's plethora of shops, specialty boutiques, restaurants and hotels along Oak, Rush and State streets and 50 East Chestnut owners become part of Chicago's most exclusive neighborhood.
The 50 East Chestnut model and design center now is open Saturdays and Sundays from 1 p.m. to 4 p.m. in suite 3860 at the John Hancock Building, 875 N. Michigan Ave.
For more information on 50 East Chestnut, please call Jameson Realty Group at 312-944-5050 for a private appointment, or visit the website at www.50eastchestnut.com.
