One Museum Park Sets Record as Fastest Selling Residential Project in Chicago

News Release, March 4, 2005

After its January 23rd Grand Opening, One Museum Park sold more than 80 percent of its units, making it the fastest selling residential development in all of Chicago. Developed by The Enterprise Companies, One Museum Park will be located at the edge of Grant Park, adjacent to Lake Michigan and Museum Campus.

Soaring 61 stories above Grant Park and Lake Michigan, One Museum Park will offer 277 luxurious condominium residences. Evoking an International style yet remaining deeply rooted in Chicago's signature modernist tradition, One Museum Park will be the crown jewel of the city's skyline. Construction is slated to begin this fall with first occupancies expected by late 2007.

"Due to the impact One Museum will have on the Chicago skyline, it was imperative for us to create a truly elegant, landmark-quality building," says Ron Shipka, Jr., a principal of the Enterprise Companies. "Another primary goal was to provide every resident with not only spectacular views of the city, but also the guarantee that they'll be unobstructed forever."

Priced from the $400s, one-bedroom plus den residences offer up to 1,002 square feet. Two-bedroom plus den units include two baths and range in size from 1,425 and 1,700 square feet. Pricing for these homes starts in the $600s. Three-bedroom, three-bath units begin in the $800s and offer between 1,821 and 2,917 square feet of living space. Highlighting floors 57 through 61, five penthouses offer over 7,000 square feet of living space. Priced from $4.5 million, the possibilities to customize these full-floor residences are endless. Though easily accommodating up to six bedrooms and six-and-a-half baths, buyers may choose to create a wine room, media and entertainment center, chef's kitchen or art gallery.

Featuring grand residences and lavish amenities, One Museum Park sets the standard for opulent lakefront living in Chicago. Each home features oversized living/dining rooms, gourmet kitchens, sumptuous master bathrooms and floor-to-ceiling windows. With the assistance of One Museum's professional interior designers, every buyer has the opportunity to customize their home, utilizing finishes of the highest quality including imported Italian marbles, furniture quality cabinetry and custom millwork. The Design Center Showroom offers endless opportunities for luxury, turning each person's vision into a reality.

One Museum Park will provide residents with numerous hotel-style amenities including a full-service concierge office and 24-hour doorman on duty to assist residents and greet their guests. Other amenities include secured heated indoor parking, a private street entrance and the One Museum Park Club. Situated on the fifth floor, the Club offers something for everything. Those who love exercise will appreciate the heated indoor lap pool as well as the professionally equipped fitness center, which includes separate men's and women's locker rooms and a sauna. Additionally, a multi-purpose room is ideal for a Yoga or Pilates class. On those beautiful summer days, residents can take a dip in the outdoor pool or relax and savor the views from the spacious sundeck. And for entertaining, the Owner's Club boasts gracious gathering spaces with an adjacent restaurant-quality kitchen—perfect for hosting just about any kind of celebration.

The homes themselves are simply one reason why Museum Park has become the city's most desirable lakefront neighborhood. Walking outside their door, residents have access to the best that Chicago has to offer. Steps away lay the world-class institutions of Museum Campus or the stunning flower gardens at Grant Park. Outdoor enthusiasts will love the proximity to a 20-mile stretch of the famed lakefront path, which is perfect for jogging, biking or walking. Tennis courts and ball fields are three blocks away, and water lovers are only a short stroll to the beach.

"Being close to so much is what makes this a great neighborhood," says Shipka. "Living at Museum Park presents you with an infinite variety of choices for recreation, shopping, superb dining and entertainment. No other location offers so much."

Museum Park is part of Central Station, developed by a partnership consisting of The Fogelson Companies, veteran Chicago developers, and Forest City Enterprises, one of the nation's leading real estate companies. In 1994, Central Station started to take its residential shape with the initial construction of luxury townhomes. Since then, this lakefront neighborhood has boomed with construction of more luxury townhomes, high-rise condominiums, apartments, and retail stores. All this has made Central Station the city's premier lakefront neighborhood.

The Museum Park sales center is located just south of Roosevelt Road at 1259 South Indiana Ave. Exit Lake Shore Drive at Roosevelt Road, opposite the Field Museum. Go west to Indiana Avenue and turn left. The sales center is open daily noon to 5 p.m. or by appointment. For more information or to make an appointment, please call (312) 362-0200 or visit the web site at www.onemuseumpark.com.

As a leader in residential real estate development since 1971, The Enterprise Companies are currently developing over 2,500 distinctive residential homes across the city of Chicago. Many of their developments, including the 1,500-unit Museum Park at Central Station, featuring new-construction lofts, high-rise condominiums and townhomes, have received awards for their design, ingenuity and architectural innovation. By approaching their business with a sense of responsibility toward creating the best possible living environments and neighborhoods, The Enterprise Companies continues to successfully accomplish their mission of making Chicago a better place to live.