Lend Lease to Begin Construction on 1225 Old Town in Chicago
CHICAGO, Aug. 17, 2011 /PRNewswire/ -- Lend Lease was selected by Hines, one of the country's largest development firms, to provide General Contracting services for 1225 Old Town, a residential building in Chicago's Old Town neighborhood at 1225 N. Wells Street.
1225 Old Town will be a 368,000 SF, 16-story luxury apartment building comprised of 250 studio, convertible, one- and two-bedroom rental units, along with two levels of parking with space for 235 cars. The building's 11th floor amenity space will include an outdoor pool and hot tub, fitness center, theater room, demonstration kitchen, business center and social lounge. 1225 Old Town apartment units will be available for lease beginning Summer 2012.
Located at the ground floor will be 34,000 sf of demisable retail space, thus extending the retail presence along Wells Street. The existing brick and terra cotta facade at 1241 North Wells will be preserved to maintain the integral Old Town character.
1225 Old Town has been designed to achieve LEED-NC Silver Certification. Specific sustainable elements of the project that will contribute to earning the certification include:
- The proposed target of 75% (by cost) use of recycled material content to reduce resource use and waste to landfills.
- Use of low flow toilets to conserve water during operation.
- A green roof and storm water retention system to manage storm water. Operable windows to optimize the quality of the indoor environment for future tenants.
- Low-VOC (low odor) adhesives, sealants, paints, coating and carpet products.
Additionally, Lend Lease developed and is implementing a Moisture Mitigation and Mold Prevention program, which involves preemptive measures to prevent mold growth in the building, regular walk-through inspections by a mold specialist, and a rapid response plan for conditions that could foster mold growth. The project team is also investigating the use of Green Power during construction.
About Lend Lease
Lend Lease is a leading international property and infrastructure group. Listed on the Australian Stock Exchange, Lend Lease has a significant presence in the Americas, Australia, Asia and Europe.
In the US, Lend Lease offers over 90 years of experience in the project management and construction industry. In the past decade alone, the firm has provided construction services on over 2,500 projects for 1,100 clients nationwide through its legacy Bovis Lend Lease business. The company provides a full range of construction services including construction management, general contracting, program management, project management, design/build and consulting services.
SOURCE Lend Lease