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 On
March 7th, 2007, BridgePoint Ventures, LLC contracted with
the Palladian Development Group, LLC to purchase up to $240,000,000
of inventory in the Mandarin Oriental Chicago. BridgePoint
Ventures, LLC is offering this inventory on an exclusive basis to a
select group of individuals and institutions within the BridgePoint
partner base.
The Mandarin
Oriental Hotel Group and Spas have won numerous domestic and
international awards for outstanding service and beauty. see the
various awards received.
Palladian, the development team overseeing the Mandarin Oriental
Chicago, broke ground on March 9th, 2007. The Mandarin
Oriental Tower is a 75-story, 900-foot, high rise building located on
North Michigan Avenue.
The development team is comprised of the following:
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The five principals of Palladian
Development are Gerard Kenny, Chris Kenny, Frank Leo, Patrick
Danan and Peter Connelly. Each of these individuals brings a
different perspective and background in real estate development,
construction, law and marketing.
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The General Contractor is Bovis Lend
Lease, a multi-national firm with a Chicago-based team with
extensive experience in the development of high rise buildings in
Chicago. As a firm, Bovis traces its roots back to 1885.
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The architectural firm is Solomon,
Cordwell and Buenz (SCB), also based in Chicago. SCB is an award-winning
architectural, interior design and planning firm with a 70-year
history.
Geographically, the property location is just south of the Chicago River
and just north of Millennium Park. Views from the tower will include
Lake Michigan, the seven bridges of the Chicago River and the park.
The details associated with the project are the following:
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The
tower will be divided into three different sections totaling 514 units
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252 Hotel Condo units,
“The Guestrooms”; 1-2 bedroom; 550-3,600 sq. ft.; occupying floors
28-40
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103 Residences;
1-3 bedroom; 844-6,200 sq. ft.; floors 41-54
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159 Tower Condo units;
1-4 bedroom; 770-13,000 sq. ft., floors 55-75
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There will be a 30,000 sq. ft. Spa as
well as upscale retail shops, restaurant, and ballroom
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The gross square footage of the tower,
including parking and mechanical space will equal approximately 1.3
million sq. ft.
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Construction will begin on March 9, 2007
with project completion slated for Q4 2009 into Q1 of 2010
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