Related Midwest today announced it has closed a $240 million construction loan and completed the tower crane installation at One Bennett Park, a 70-story ultra-luxury residential tower located at 451 E. Grand Ave. in Chicago’s Streeterville neighborhood. Designed by internationally renowned architecture firm Robert A.M. Stern Architects, the Art Deco-style building will offer 69 condominiums and 279 apartments adjacent to a new park by Michael Van Valkenburgh Associates Inc. When complete in 2019, it will be the tallest all-residential tower in Chicago, topping out at 836 feet.

“With One Bennett Park, we’re creating an entirely new class of vertical luxury living that evokes the sophistication of generations past – drawing inspiration from the Palmolive Building and other architectural landmarks of the prewar era – while delivering a level of service and craftsmanship that will make each residence an heirloom for generations to come,” said Curt Bailey, president of Related Midwest. “The unparalleled attention to detail, along with One Bennett Park’s coveted location and panoramic views of Lake Michigan and the downtown skyline, will appeal to discerning buyers and renters alike who are sure to appreciate the intricacies of the tower’s design, both inside and out.”

Located on floors 41 through 66, condominiums at One Bennett Park will average 3,200 square feet and offer two-, three- and four-bedroom layouts, including three full-floor penthouses with soaring 13-foot ceilings. Related Midwest is currently marketing a selection of units ranging in size from 1,737 to 7,500 square feet and priced between $1.85 million and $15 million, with first deliveries scheduled for late 2018.

One Bennett Park will also include 279 luxury apartments – also delivering in 2018 – that will comprise a mix of one- to four-bedroom floor plans.

Named after prolific Chicago architect Edward H. Bennett, co-author of the 1909 Plan of Chicago, the tower and adjacent park reflect Bennett’s vision of weaving green spaces into the urban fabric, balancing built environment with natural landscape. Designed by Michael Van Valkenburgh Associates, whose notable projects include Brooklyn Bridge Park in New York, as well as Maggie Daley Park and The 606 in Chicago, the 1.7-acre park is scheduled for completion in 2019. It will feature paved walkways, seasonal vegetation and rolling topography that divides the area into four distinct experiences: a lawn bowl for social gatherings; play bowl with activities for children and seating for adults; quiet shade grove; and dog run with separate areas for small and large breeds.

One Bennett Park marks the first collaboration between Related, Michael Van Valkenburgh Associates and Robert A.M. Stern Architects, whose previous projects include 15 Central Park West as well as sophisticated interiors such as the Tiffany Jewel Salon in New York. In addition to designing the exterior of One Bennett Park, which will be accented by custom bronze sconces and ornamental metalwork, Robert A.M. Stern Architects was also commissioned to design the tower’s interiors, drawing on the firm’s experience as a custom home designer to create elegant and spacious floor plans appointed with the architect’s signature features.

With 10- to 13-foot ceilings and oversize windows throughout, all condominium residences have been masterfully designed to include a mix of light-filled formal and informal living spaces. Each home will feature wide-plank white oak flooring in a herringbone pattern, as well as top-of-the-line kitchens with millwork, cabinetry and metal hoods custom-designed by Robert A.M. Stern; Perla Venato stone countertops; and SubZero, Wolf and Asko appliances. Additionally, master bathrooms will showcase Statuario marble tile, flooring and countertops; freestanding soaking tubs; and double-bowl vanities also custom-created by Robert A.M. Stern.

In addition to a highly walkable lakefront location steps from Michigan Avenue and Chicago’s bustling Riverwalk, One Bennett Park will offer a full suite of indoor and outdoor amenities, with a separate suite reserved exclusively for owners. Among the condo offerings will be a private cobblestone motor court off Grand Avenue with valet parking and temporary spaces for short-term use. All One Bennett Park residents will also have access to Related’s signature service platform.

“One Bennett Park’s combination of luxury condos and apartments will allow us to cater to residents in all stages of life, including families who appreciate the proximity to quality schools, the lakefront and other kid-friendly attractions like the Chicago Children’s Museum,” said Bailey. “The adjacent park will serve as both a lasting tribute to Edward H. Bennett and a vibrant addition to South Streeterville, solidifying its reputation as one of Chicago’s great residential neighborhoods.”

About Related Midwest:

Related Midwest, the Chicago office of Related Companies, is the preeminent developer of luxury condominium and rental homes, affordable housing communities and mixed-use properties in Chicago. Recognized for its architecturally significant, market-defining projects and led by industry veterans who have integrated both property management and residential sales expertise into the development model, Related Midwest has reshaped five-star living in downtown Chicago through its two luxury apartment developments: 500 Lake Shore Drive and OneEleven. The firm’s multibillion-dollar pipeline includes the Robert A.M. Stern Architects-designed One Bennett Park, a 70-story ultra-luxury residential tower under construction at 451 E. Grand in Chicago’s Streeterville neighborhood. Slated to be Chicago’s tallest all-residential tower when completed in 2019, the development will feature 69 condominiums and 279 apartments, as well as a 1.7-acre park by Michael Van Valkenburgh Associates. Related Midwest is also constructing a 30-story, 300-unit luxury rental tower at 1035 W. Van Buren in the West Loop and is involved in the upcoming redevelopment of the historic Julia C. Lathrop Homes on Chicago’s Northwest Side. In addition, Related Midwest is planning two of Chicago’s most anticipated developments: 400 N. Lake Shore Drive, located on the site of the former Chicago Spire project, and a mixed-use, master-planned community on 62 acres at the southwest corner of Clark Street and Roosevelt Road, one of the largest vacant tracts of land in the city.

Related Midwest has closed a $240 million construction loan for One Bennett Park, a 70-story ultra-luxury condo-apartment tower at 451 E. Grand Ave. in Chicago’s Streeterville neighborhood.