Ground Broken for 90-Story Waterview Tower and the Five-Star Shangri-La Hotel, Chicago

High Rise Set to Become Fifth Tallest Building in Chicago

CHICAGO, Jan. 31 /PRNewswire/ — Waterview LLC has broken ground at the site of Waterview Tower & Shangri-La Hotel, Chicago, a 90-story, mixed-use high rise in downtown Chicago that, when finished, will be the fifth tallest building in the city at 1,050 feet. The building is scheduled for completion in 2009.

The high rise will comprise 233 luxury condominium and penthouse residences, and 200 hotel condominiums at the five-star Shangri-La Hotel, Chicago.

Construction is expected to take 42 months and will employ 500 workers during peak construction time. Upon completion, the development will contribute 225 permanent new jobs to Chicago’s economy.

Residential condominiums at Waterview Tower measure 1,087 to 8,070 square feet including full-floor penthouses with 360-degree views of downtown Chicago. Base prices range from $726,000 to $7.5 million.

Residential condominium owners have exclusive access to the 29th floor which offers a hospitality room with gourmet kitchen; an 8,000-square-foot roof garden with sundeck and dog run; a fitness center with a 60-foot lap pool; and a business center.

Hotel condominiums at the five-star Shangri-La Hotel, Chicago, measure 488 to 1,780 square feet, and range in price from $562,000 to $2,316,000.

Shangri-La’s spa brand — CHI, The Spa at Shangri-La — will also debut in Chicago, offering treatments based on ancient Chinese and Himalayan healing therapies. Additionally, the hotel will have a 24-hour fitness club in a windowed 6,000-square-foot fitness room, an indoor pool, a whirlpool, a steam and a sauna room, a juice bar, and a separate yoga and Pilates area. The hotel will offer private function rooms and a grand ballroom.

Waterview Tower will be built with 299,700,000 pounds of concrete to be delivered via 8,222 truck loads; 525,000 square feet of exterior wall made of glass, granite and aluminum; 8,300 tons of reinforcing steel; 340 miles of fiber optics; 115 miles of cabling; and 3,500 plumbing fixtures.

Waterview Tower & Shangri-la Hotel, Chicago, are being developed by Waterview, LLC ( http://www.waterviewtower.com/ ), one of a group of companies founded by the nationally recognized, Chicago-based, Teng & Associates, Inc.

Hong Kong-based Shangri-La Hotels and Resorts currently manages 47 hotels under the five-star Shangri-La and four-star Traders brands, with a rooms inventory of over 23,000.

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