
New Lakeshore East Apartments Nearly 100% Leased a Year After Opening
Lendlease and co-developer Magellan Development Group said Wednesday that Cascade, a 37-story, 503-unit luxury apartment tower in Chicago’s Lakeshore East neighborhood, reached 99% leased in 12 months after its first move-ins. The tower is part of a development that also includes the 350-unit Cirrus condominium building and Cascade Park, a 0.8-acre publicly accessible green space.
“Achieving this level of stabilization a year after opening – and ahead of schedule – speaks to not only the desirability of Cascade’s lake- and river-adjacent location, but also the quality of its apartments and amenities,” said Ted Weldon, executive general manager of development for Lendlease’s Chicago office.
“A lot has changed since we broke ground on this project in late 2019, but our belief in the vitality of downtown Chicago is stronger than ever,” he continued.
Reflecting Lendlease’s commitment to sustainability, Cascade is Fitwel-certified, anticipating LEED Gold certification, and incorporates numerous environmentally conscious features.
- ◦Development