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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. 


Inside The Story

Lendlease U.S.Magellan Development

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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