I am a DePaul senior Political Science major and Journalism minor.
Mathew Phillips head of an integrated Development Group will be converting Lake Shore Athletic Club into a luxury senior living center.
Will turn into luxury living for seniors
The building located at 850 N. Lakeshore Drive has already sol 20% of its 128 units. The condos begin at $700,000 with entrance fees of $629,00 which is mostly refundable. Moreover, there is a maintenace fee of $4,000.
There will be prominent exectutives advising Pr. Phillips on the new endevour. Among them will be Edward Baran, that will advise on neighborhood issues. He is currently head of the Gold Coast Neighborhood Association.
Jim Karas a personal trainer will make suggestions regarding health and business facilities. While Spphia Siskel, President and CEO of the Chicago Botanic Garden will provide her expertise on two roof gardens.
2 Comments
Matt Bailey said:
sounds good-- I'll buy three. Who do I make the check out to?
Dileep Gangolli said:
Hello Claudia,
Thanks for taking the time to write about our client Integrated Development Group and their project in the Gold Coast, 850 Lake Shore Drive (www.850LSD.com).
There are a few items I wanted to correct, and I am following the procedure as stated in the corrections section of Chicago Now.
1) The name of the company renovating the building is Integrated Development Group. (The "i" in Integrated is capitalized.)
2)Currently, sales are tracking at approximately 32% (rather than 20%).
3)This is not a condo building....these are apartments that belong to the building owners. Occupants pay an entrance fee and then a monthly fee for services provided including living in the apartment. The correct name for this type of living center is a Continuing Care Retirement Community (CCRC).
4)The entrance fee is currently $629,000 and is 90% refundable when the occupant leaves. There should be no reference to the other number.
5)Monthly maintenance fees start at $4,000 and vary on what the amenities a resident wants or needs.
6)Mr. Baran is a first vice president of the Gold Coast Neighborhood Association.
If you have any further questions, you may contact me. You can also visit the 850 LSD web site for additional information at www.850LSD.com. 850 LSD also has a Face Book page, so any readers of this article that want to follow the progress of the renovation, can do so by becoming a fan.
Thanks again for your interest in 850 Lake Shore Drive.
Dileep Gangolli
Sheila King Public Relations
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