As construction crews put the finishing touches on the exterior of Cascade, the team behind the upcoming Lakeshore East apartment tower has released a fresh batch of renderings to lure potential tenants.
A rendering of Cascade (left), Cirrus (center), and Cascade Park (right). Courtesy Lendlease
Lendlease and Magellan Development announced the start of pre-leasing this week and expect renters to begin moving into the 37-story high-rise at 455 E. Waterside Drive this summer.
The building features 503 apartments spanning 509 to 1,332 square feet. Rents start at $1,650 per month for a studio, $2,050 for a one-bedroom, $3,300 for a two-bedroom, and $5,750 per month for a three-bedroom unit.
Floor-to-ceiling windows overlook Lake Michigan, Cascade Park, and the downtown skyline. Courtesy Lendlease
Residents at Cascade will have access to 45,000 square feet of indoor and outdoor amenity space including a lake-facing fitness center, an outdoor pool, an indoor pool, a screening room, a golf simulator, a game room, a children’s playroom, and a dedicated "jam room" with communal musical instruments.
A terrace of the tower's 32nd floor features views of Navy Pier and Lake Michigan plus a TV lounge with a chef's kitchen and a study corner with private work pods.
Among the tower’s extensive health and wellness offerings is "the conservatory," a 900-square-foot space overlooking Cascade Park that incorporates biophilic design elements. Courtesy Lendlease
Closer to the ground, residents can access an indoor garden dubbed "the conservatory." The 900-square-foot space includes seating overlooking Cascade Park: a sloping landscaped publicly accessible pedestrian connection that will bridge Harbor Drive, Lower Lake Shore Drive, and the Lakefront Trail.
The new park is on track to also open this summer alongside the apartment building. Cascade's sibling tower, an adjacent 47-story, 350-unit condominium building known as Cirrus, will open a little later and welcome residents this fall.
The privately developed and maintained Cascade Park and adjacent pedestrian path will be open to the public. Courtesy Lendlease
The projects' developers are offering a program that allows residents to sign a contract for a condo at Cirrus and rent next door at Cascade as they wait for their residence to be completed. Half of the rent paid (up to 2.5 percent of the purchase price) can be recouped as a credit at closing.
"The program has been very well-received by the market, as it gives renters the opportunity to build equity in their future home and, when they are ready, seamlessly transition to ownership without uprooting their lives," said Lendlease's Ted Weldon in a news release.
Lendlease is currently offering a similar rent-to-own arrangement in its multi-building Southbank development along the south branch of the Chicago River.
Cascade's lake-facing outdoor pool and adjacent tiered sunning lawn are surrounded by cabanas, hammocks, grilling stations, a fire pit, herb garden, and seating areas. Courtesy Lendlease
