The building that will save the Village Theater while killing a neighborhood diner is looking for residents. Fifteen Fifty on the Park will occupy the southwest corner of North Avenue and Clark Street in Old Town.
The building, designed by the Gold Coast’s SCB, features a classic look to blend in with the other buildings fronting this portion of Lincoln Park. In some ways, it is reminiscent of 15 East Oak, the Barneys New York building on Oak Street. That building was an update of 25 East Oak, the old Barneys New York building across the street, which almost looks like this new building’s shriveled old grandmother.
Fifteen Fifty is a joint project of CIM Group in Los Angeles, the Gold Coast’s Golub & Company, and Avoda Group. It will have 32 condominiums across ten stories, plus ground floor retail. For those who enjoy living large, some of those condos are 4,500 square feet.
Even thought the new Old Town building is at 101 West North Avenue, it will bear the address 1550 North Clark because residents get to enter the project through the Village Theater property. The landmarked facade of the 1916 theater is being preserved.
More details after the pictures.
Sales Commence for Fifteen Fifty On The Park With Sales Gallery Now Open
10-Story Luxury Condominium To Rise Where The Gold Coast Meets Lincoln Park
CHICAGO — Sales are underway for Fifteen Fifty On The Park, a new-construction mid-rise building featuring 32 luxury condominiums at the intersection of three highly-desired Chicago neighborhoods — the Gold Coast, Lincoln Park and Old Town. The sales gallery, located at 1549 N. Wells St., is now open.
The site at 1550 N. Clark St., located across from the prestigious Latin School of Chicago and the Chicago History Museum, is being developed by a joint venture of CIM Group and Chicago-based Golub & Company and Avoda Group.
The contemporary 10-story building features architecture by Solomon Cordwell Buenz (SCB), with interiors by Gary Lee Partners, both Chicago-based firms. Homebuyers will have the opportunity to choose from three distinct finish palettes curated by Gary Lee Partners.
Fifteen Fifty On The Park also involves the preservation and restoration of the historic Village Theater’s landmarked façade, built in 1916. Residents will pass through the intricately restored theater façade to a completely new contemporary lobby.
Many homes at Fifteen Fifty On The Park feature views of Lincoln Park to the north and east, and some residences have views of Lake Michigan. Among the high-end finishes are 10’ or 11’ ceilings; white oak rift and quarter-sawn floors; large terraces or balconies; O’Brien Harris handcrafted furniture-quality cabinetry; Sub-Zero, Wolf and Miele appliances; natural stone tile and countertops; Kallista sinks; Dornbracht kitchen faucets; and Lacava bath fixtures. Luxury amenities include 24-hour front desk staff, a Fitness Center, Club Room, Library Lounge, Board Room, and individual storage for each residence.
Floor plans at Fifteen Fifty On The Park feature layouts ranging from two bedrooms plus den with 2,300 square feet to four bedrooms plus den with 4,500 square feet. The building’s outdoor space has also been thoughtfully designed. Homes feature extra-deep balconies or terraces, ranging from just over 100 square feet to over 1,250 square feet.
“The collaboration between SCB and Gary Lee has produced a level of quality and refinement that will make these homes every bit as special as this incredible location on one of the last remaining parcels with views of Lincoln Park on the Near North Side,” said Michael Newman, president and CEO of Golub & Company.
Michael Arnold, principal of Avoda Group added, “Large, comfortable layouts provide luxury finishes and elegant living spaces that call to mind the finest homes of Lincoln Park and the Gold Coast.”
“A location like this comes along maybe once in a decade, and represents a rare opportunity to purchase new construction on the park and just blocks from Lake Michigan,” said Mike Golden, co-founder of @properties, exclusive sales agency for Fifteen Fifty On The Park. “You can literally cross the street and be in Lincoln Park with its gardens, running paths, cultural institutions and access to the lakefront.”
With the Lincoln Park neighborhood to the immediate north, the Gold Coast to the immediate south and Old Town to the immediate west, Fifteen Fifty On The Park’s residents are within walking distance of dozens of dining, shopping and entertainment destinations. Top-rated public and private schools, including Latin, Francis Parker, Catherine Cook, Ogden Elementary and Lincoln Park High School are also nearby. Public transit to the Loop and Magnificent Mile is plentiful.
Fifteen Fifty On The Park is the latest Chicago development collaboration between Golub & Company and CIM Group. The developers worked together on the luxury apartment high-rises Marquee at Block 37 and 1001 S. State. Golub has also developed luxury condominiums in The Gold Coast with The Bristol at 57 East Delaware. CIM Group co-developed the luxury condominium tower 432 Park Avenue in Manhattan, a 1,396’ tall high-rise, where a number of condominiums have sold for more than $50 million.
“Having a development team of this caliber is very reassuring to luxury homebuyers,” Golden noted.
Pre-construction prices for condominiums at Fifteen Fifty On The Park range from $1.65 million to $6 million, with heated parking in a 67-car garage available for purchase from $66,000.
The Fifteen Fifty On The Park sales gallery, located at 1549 N. Wells St., features kitchen and bath vignettes and a scale model of the building. Hours are Friday through Sunday from 1:00 PM to 4:00 PM, or by appointment. For more information, please visit 1550onthePark.com or call 312-764-1550.