ML - Michigan Avenue

2015 - Issue 3 - May/June

Michigan Avenue - Niche Media - Michigan Avenue magazine is a luxury lifestyle magazine centered around Chicago’s finest people, events, fashion, health & beauty, fine dining & more!

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manager of North Water Apartments (340 E. North Water St., 872-253-0060; northwaterapts.com), one of the city's newest and most deluxe rental buildings, which is positioned atop the sleek new Loews Hotel on North Water Street, close to Lake Michigan. Ironically, Saucedo notes, "It's an even bigger deal in Chicago because [we] can't enjoy it year-round." Aside from the lake views, there are plenty of play- time opportunities built into North Water's 50th-floor recreational space. An indoor party room, decked out with four large flat-screen TVs and comfy lounge fur- niture, opens to a sprawling outdoor deck with more seating space and another large flat-screen TV. Notes Saucedo, "We're planning to schedule some terrific events up there, including wine socials, cooking classes with big-city chefs, and brunches, too." As if that weren't enough, a second, more elaborate outdoor deck, positioned 35 stories below ( just above the Loews Hotel section of the building), boasts an outdoor kitchen and fire pits. Such amenities, Saucedo adds, are crucial to drawing residents. "When new [prized high-rises] are charging about $2,000 for only 550 square feet," she says, "residents talk about [com- munal] outdoor space as a way of getting more value." When investment group 850 Investors LLC com- pletely renovated the landmark 1920s building at 850 Lake Shore Drive (312-915-0850; 850lsd.com) last year, they placed a major emphasis on maximizing the 21st floor's 6,700 square feet of rooftop lounging space, says Matt Phillips, the group's principal. Featuring an outdoor kitchen with grills and dining tables as well as clusters of plush, oversized chairs and chaise lounges, the communal deck has become a top selling point for the building. Landscaping on the rooftop, designed and installed by Hoerr Schaudt Landscape Architects, is a large contributor to the mood of private spaces the develop- ers desired, explains Phillips. Strategically placed plantings (including several varieties of sedum and allium) take up roughly 40 percent of the expansive grounds, and many groupings are mounded high or feature taller plants that serve as a de facto barrier between the roof's sunning and dining areas (another soft hill shields views of a dog run). "They visually separate the space, and the separated spots feel more intimate as a result," notes Phillips. And just off Michigan Avenue, the Optima Chicago Center's (200 E. Illinois St., 312-527-0800; optimaweb.com/Homes/OptimaCenter/) 41st-f loor Sky Garden Terrace boasts an "Arizona modern" feel, explains leasing specialist Taylor Payne, with fire pits, serene desert grasses, and a massive Jacuzzi that can fit as many as 20 people. "The east side lounge area reminds me of Pop Art—bold and colorful. It's really fun up there," says Payne. Like the other two high-rises, it's the spectacular views that wow residents and their guests. "On the roof, it feels like you could reach out and touch the Chicago Tribune building, or modern towers like the Trump building," says Payne. "You can even see on the roof of the Intercontinental Hotel an old land- ing pad used for hot-air balloon rides in the 1920s. How cool is that?" MA Friends in HigH Places When it comes to Chicago rooftop design, dSpace Studio leads the way. Known for its edgy designs, Lakeview-based dSpace Studio (773-423-2920; dspacestudio.com) creates high-end rooftop spaces for luxury homes that aren't likely to be copied. Founder and principal Kevin Toukoumidis incorporates unexpected features such as glowing Lucite stairs built into an elevated space, or glass-edged infnity decks that enhance dramatic city views. "A rooftop is a very defned space," says Toukoumidis. "I let the space dictate the design, because each one is different from the other." According to Jennifer Mills Klatt (773-914-4422; jenniferamills.com), a real estate broker with Berkshire Hathaway HomeServices KoenigRubloff Realty Group, a tricked-out rooftop deck on a luxury home not only adds to a family's lifestyle, but also to the home's resale value (up to 10 to 20 percent). "The home with the deluxe deck up on the roof," asserts Mills Klatt, "is going to sell more quickly and with more value than the one without." "ROOFTOpS ARE AN EvEN BIGGER dEAL IN CHICAGO BECAuSE WE CAN'T ENJOy THEM yEAR-ROuNd." —jennifer saucedo 850 Lake Shore Drive uses strategically placed plantings to delineate space on its rooftop. The 50th-floor rooftop at North Water Apartments includes an indoor chef's kitchen with an extensive outdoor terrace. 130  michiganavemag.com haute property News, Stars, and trends in real estate

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