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Hotels and motels

Groundbreaking Ceremony Marks Beginning of Waterview Tower & Shangri-La Hotel, Chicago

Strategic Insights

— 1 min read

In a major milestone, Waterview LLC has commenced construction on the 90-story, mixed-use high-rise development, Waterview Tower & Shangri-La Hotel, Chicago. Located in downtown Chicago, the project will be the fifth tallest building in the city, standing at 1,050 feet upon completion in 2009. The high-rise will feature 233 luxury condominium and penthouse residences, as well as 200 hotel condominiums at the five-star Shangri-La Hotel, Chicago.

Key Takeaways:

  • The development will contribute 225 permanent new jobs to Chicago's economy upon completion.
  • Residential condominiums range in size from 1,087 to 8,070 square feet, with base prices from $1 million to $7.5 million.
  • Hotel condominiums at the five-star Shangri-La Hotel, Chicago, measure 488 to 1,780 square feet, with prices ranging from $562,000 to $2,316,000.
  • The project will be built with 299,700,000 pounds of concrete, 525,000 square feet of exterior wall material, and 8,300 tons of reinforcing steel.
  • Private function rooms, a grand ballroom, and a 24-hour fitness club will be among the hotel's amenities.
  • The hotel will also feature a spa, indoor pool, whirlpool, and steam and sauna rooms, in addition to a juice bar and separate yoga and Pilates area.

Statistics:

  • The development will require 42 months of construction and employ 500 workers during peak construction time.
  • A total of 8,222 truck loads will deliver concrete for the project.
  • The hotel will have a rooms inventory of over 23,000.
  • The Shangri-La Hotels and Resorts chain currently manages 47 hotels.

Sources:

  • Waterview LLC (http://www.waterviewtower.com)
  • Taylor Johnson Associates (http://www.waterviewtower.com)
  • ASIA PULSE 01-02 1326 (PRNewswire-AsiaNet)

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