It’s only fitting that new highrises on Millennium Park should be forward-looking, and according to LR Development, its 340 on the Park project fits the bill. In addition to being a “green” building and potentially Chicago’s first LEED-certified (Leadership in Energy and Environmental Design) residential highrise, the 62-story tower was conceived to anticipate and eliminate the need for endless upgrades. Instead, it offers a “singular, cohesive aesthetic” that closely coordinates interior and exterior design, according to Laura Molk, of LR Realty, sales agent for 340 on the Park.

LR is using environmentally friendly building materials and renewable resources, such as bamboo flooring, and it designed 340 on the Park with highly efficient mechanical systems, a construction waste-recycling program, an irrigation system that uses rainwater and other green features.

Green space too

“Whether it’s recycling construction debris or creating mechanical systems that are more efficient, in the long run, there’s value to all the things in the LEED program, and buyers recognize the foresight and progressiveness of the company making them part of its development,” Molk said.

There’s no shortage of literal green too at 340 on the Park. A rendering for the highrise, which broke ground early in 2005, shows its glass expanse rising in the distance on Randolph Street next to the Blue Cross Blue Shield building, Buckingham Fountain bubbling in the foreground. It’s an impressive view not only because of the tower’s sleek modern design, but also because observers are seeing it across the open space of Grant and Millennium parks, Michigan Avenue on the left and the lake on the right. Of course, the message to potential buyers is clear: residents at 340 on the Park will see to the fountain and well beyond, with stunning views of the parks, the lake and the Chicago skyline.

Part of new community

The project’s location, in the new 28-acre Lakeshore East community and on the edge of Millennium Park, dictated progressive design, according to Molk. Lakeshore East will have a variety of low-rise and highrise housing, a central park, retail space, a school and 10,000 to 15,000 residents when complete, according to development partners Magellan Development Group and Near North Properties.

Architects Solomon Cordwell Buenz & Associates responded to the high-profile site with a nearly unbroken span of glass facing south and angling gently east to maximize views. “Obviously, we wanted a lot of glass, with this huge sky, the parks, the lake – there are so many dimensions to the view,” Molk said. “The location and views really called for a contemporary design and once we did that, we took advantage of the space with open floor plans.”

A unified vision

Molk emphasizes the way the site, the exterior and the interiors work together at 340 on the Park in one unified vision. This might sound like typical developer-speak, but LR appears to be matching its rhetoric with a novel approach to design and marketing at this price point. Rather than offering a standard package and tantalizing buyers with a long list of upgrades (a serious profit center for many developers), LR Development’s Synthesis Architecture and Design division has created a single unified interior that’s designed to meet buyers’ tastes while maintaining the integrity of the building.

“It’s a singular, cohesive aesthetic, from the exterior to the hallways to the interiors,” Molk said. “The aesthetics blend so nicely and look so good that when you tamper, you go the wrong direction not the right direction. People can still personalize the space through window treatments, artwork, furnishings, paint and their collections from life. They don’t need to change the interior space.”

Some options

Which isn’t to say there’s no choice. Buyers on floors 44 through 56 can change various elements within the finish selection and penthouse buyers are offered a full range of customization. But in a building where every unit comes equipped with Dornbracht faucets, Snaidero cabinetry, bamboo floors, high ceilings and a GE Monogram stainless steel kitchen suite, LR has worked hard to convince people its vision is worth buying as is.

LR said it was about 65 percent sold on the 334 units at 340 on the Park in March 2005. Remaining condos ranged from the $380s for a one-bedroom with 1.5 baths to nearly $4 million for a four-bedroom penthouse with 5,500 square feet and 5.5 baths in July 2005.

The building will have 4,000 square feet of retail space, a fitness center, a 25-yard lap pool, a winter garden and a 25th floor clubroom. A sales center with a vignette model for 340 on the Park, is open at 875 N Michigan Ave, Suite 2105.

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