Press Release: October 11, 2004

CONTACT:
Kristin Lunardini, 312.338.0809
Jennifer Zuithoff, 312.377.0828

FOR IMMEDIATE RELEASE

Metropolitan Tower Sales Center Celebrates Strong Opening Weekend Vintage construction, modern amenities, Grant Park views draw enthusiastic response

CHICAGO - October 11, 2004 - Metropolitan Tower on the Park is drawing strong buyer interest, taking 130 reservations since its sales center's opening weekend, Sept. 18 and 19. The sales center, with two furnished models, previews the transformation of the 310 S. Michigan Ave. office building into the Grant Park neighborhood's newest condominium showplace.

Instantly recognizable by its distinctive blue crown light, the 30-story tower will offer 244 luxury condominiums, townhomes and penthouses, many with panoramic, protected views of Grant Park, Millennium Park and the lakefront. Metropolitan Properties of Chicago LLC is redeveloping the 80-year-old structure, a highlight of the city's landmark Historic Michigan Avenue District.

"Metropolitan Tower offers buyers the opportunity to join this booming community in a property that combines vintage details and state-of-the-art amenities," said Louis D'Angelo, president of Metropolitan Properties. "Our residents will have Grant Park as their front yard, with the Cultural Mile, Millennium Park, the Loop and lakefront just steps away."

Located on the building's 12th floor, the sales center features two distinctively furnished models: a two-bedroom, 1,202-square-foot Burnham home and a three-bedroom, 1,932-square-foot Avenue residence. The model homes and sales center, designed by Riha Design Group, showcase the extraordinary Grant Park, Buckingham Fountain and Millennium Park views from Metropolitan Tower.

The residences at Metropolitan Tower on the Park, designed by Pappageorge/Haymes Ltd., include one-, two- and three-bedroom Avenue and Burnham condominiums of up to 1,932 square feet; two-, three- and four-bedroom Buckingham Townhomes of up to 4,171 square feet; and full-floor Millennium Penthouses up to 4,000 square feet with private elevators and 360-degree views. Prices start in the low $300,000s and reach the upper bracket.

Metropolitan Tower combines solid construction and vintage architecture with modern features and amenities. The lobby preserves original building details including cream-colored moldings, marble floors, and brass elevator doors depicting scenes of arts and sciences. Residences are equipped with electronic pass key entry, high-speed Internet access, and on-demand heating and cooling, as well as new plumbing, electrical and sprinkler systems. Exceptional finishes - such as Grohe bathroom and kitchen fixtures, premium General Electric appliances and Brookhaven by Woodmode cabinetry - are standard. Amenities include a 24-hour uniformed doorman, professionally equipped fitness center, roof deck, furnished guest suites and an event room for private parties or meetings. Private, enclosed parking is available on site.

Designed by Graham, Anderson, Probst and White - successor to Daniel Burnham's architectural practice - the neo-classical structure features a terraced pyramid crown topped by a glass "beehive" housing a blue light instantly recognizable on the historic Michigan Avenue streetwall. The first Chicago building to top 30 stories, the tower originally served as corporate headquarters of The Straus Company and later was renamed Britannica Centre in 1980. Metropolitan Properties is working diligently to preserve the original architecture throughout the redevelopment process.

Metropolitan Properties of Chicago LLC, founded in 1991, has a strong record of transforming vintage properties. The company is responsible for the award-winning adaptive reuse of the McCormick Building, 332 S. Michigan. Most recently, the company advised Columbia College Chicago, DePaul University and Roosevelt University in the development of University Center of Chicago, the nation's largest multi-college student residence, at State Street and Congress Parkway. Additionally, the firm provides leasing and management services for commercial buildings, and currently manages more than 1 million square feet of prime downtown space.

The sales center for Metropolitan Tower on the Park is open 10 a.m. to 6 p.m. Monday through Friday, 10 a.m. to 5 p.m. Saturday and noon to 5 p.m. Sunday. For more information, call 312.922.1310, or visit www.TheMetropolitanTower.com

back to News Room main