Sometimes it is nice to dream–especially on a gray Friday after a hard workweek.
That thought slipped into my head as the door swung open to the 4,700-square-foot Wabash model at the RiverView Condominiums.
Stepping into the 11th-floor model is like stepping into another world. This is the kind of home where the marble-floored foyer with a thick area rug opens to the gallery hall (you have one of those, don’t you?), which opens to the 15 1/2-by-19-foot dining room overlooking the Chicago River.
You can almost hear the clink of ice in cocktail glasses as hors d’oeuvres are served before dinner.
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The condo is one of several such units in MCL Companies’ RiverView, a complex of two condominium towers and 19 townhouses along the Chicago River west of Lake Shore Drive. The east tower is sold out, but some two-bedroom and larger units and several townhouses remain in the 32-story west tower.
MCL was among the first local developers to see residential possibilities along the river. In 1985, company president Daniel McLean snapped up 13 acres between Michigan Avenue and Navy Pier to begin creating a $1.5 billion planned development now called River East.
It was one of the biggest urban developments undertaken in America at its inception. By the time River East is built out by about 2010, it will have added a population of 3,000 residents, parking for 4,000 cars, a hotel, shops, restaurants and a 21-screen movie theater.
The effort has been the nucleus of a neighborhood that once was largely parking lots. Its growth has sparked several new projects that crowd south Streeterville.
MCL recently began pre-construction sales on yet another building–the ParkView at McClurg Court and Illinois Street, a 47-story, 268-unit tower that gets its name from a 2-acre park planned next to the building.
But for those with the money, a need for large spaces and immediate gratification, condos such as the 4,700-square-foot Wabash model at the 32-story west tower of the RiverView complex may be just the ticket.
A completed three-bedroom, three-bath unit with four balconies, the Wabash is a downtown residence aimed at buyers who can’t wait for the topping off of Trump Tower or construction of the much-discussed twisting spire designed by Spanish architect Santiago Calatrava.
Overlooking the river with views of Lake Michigan, this home, one of six of this plan still available, is not for the faint-of-heart or light of pocketbook.
The price tag for the finished model is nearly $2.616 million. At more than $550 a square foot, it most likely will appeal to a captain of industry who will use the open floor and impressive views for at-home entertaining to impress clients and competitors.
The residence is essentially a huge, curved bay with floor-to-ceiling windows. In addition to Lake Michigan to the east, the river and the emerging Lakeshore East development on the south, it offers glimpses of Michigan Avenue and the city skyline to the west.
Visitors first step into the 9-by-12 1/2-foot foyer, which has both a wide coat closet to the left and a hall to the extensive master bedroom suite to the left.
They then walk through the 7-by-10 1/2-foot gallery hallway toward the dining room. On each side are short hallways to a bath and bedroom, each with a private balcony.
The baths are off the hallway so they can be used as part of a bedroom suite or by guests. Opposite one of the baths is the laundry room, with space for a side-by-side washer and dryer, a counter for folding clothes and cabinets.
The dining room is the heart and center of the unit. The south wall with its curved floor-to-ceiling glass has sliding doors to a 13 1/2-by-5-foot balcony above the river.
Follow the glass wall to the right into a triangular-shaped space consisting of two walls and more exterior curved glass. It is identified on the floor plan as the library and is displayed as a home office with a desk and laptop.
The curve of the outside wall leads into the living room, about 23 by 22 feet, which is to the right of the dining room. It overlooks Michigan Avenue above the Metropolitan Water Reclamation District’s memorial water cannon, which in summer sprays an arc of water across the river several times a day.
On the opposite side of the dining room is the kitchen, about 15 by 14 feet, with a breakfast area offering a view of the lake. The breakfast area is along the curved glass wall and opens to an area, roughly 16 by 21 feet, which could be the family room.
The kitchen is outfitted with 42-inch cherry cabinets, a Sub-Zero refrigerator and KitchenAid appliances. Dark granite countertops abound.
The stainless double-sink is thoughtfully put in a peninsula cabinet dividing the kitchen from the breakfast area and has a clear view of the river meeting the lake.
Though I sometimes find center islands intrusive and more of a hindrance than help, this is a kitchen which could benefit from one because it is so wide from counter to counter. It also lacks a closet for brooms or large storage items.
Even more spacious is the master bedroom suite to the left of the foyer inside the front door.
The bedroom and sitting room area is 28 1/2 by 17 feet. There is a built-in breakfast bar, master bath with whirlpool and shower and double sink countertop and two room-size walk-in closets.
One wall has floor-to-ceiling windows opening to a 20-by-5 foot private balcony.
One oddity of the plan is an exit door to the hallway from one of the walk-in closets. Installed to comply with fire department regulations, the door could have some advantages for quick storage after a day of intense shopping or to stash holiday gifts.
But as a homeowner I would find it a bit unnerving to have such direct access to the bedroom, from a security point of view.
There are some advantages to buying in a development that has a year or two under its belt. The condo association hopefully has gotten organized and is functioning. Any general problems with the building have had time to surface and to be worked out with the builder. The staff is hired and the building–with a 24-hour doorman building, indoor parking, health club and indoor pool– has begun to function.
The downside is that the builder probably has built out most of the units so a buyer who wants maple kitchen cabinets may find the condos are already outfitted with cherry. Most buyers spending millions of dollars for a home understandably want to make most of the finish selections.
Since this building is about 85 percent sold, most of the remaining units have been built out, with the exception of one or two units and 11 townhouses in the drywall stage, which can be finished for quick move-in, said Michael Maier, MCL vice president.
For those who want to design their own floor plan, he said there is one penthouse with 9,300 square feet of unfinished space. Price tag: $6,087,900.
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RiverView Condominiums
Base price range: $876,298 to $2,767,747
FACTS AND FIGURES
Two- to five-bedroom, 2- to 4 1/2-bath units. Deeded parking, $55,000 a space.
Space: 1,770 to 5,246 square feet
Monthly assessments: $557 to $2,043
Developer: MCL Companies
Web site: www.mclcompanies.com
AMENITIES
Nine-foot ceilings, fireplaces, hardwood floors in living and dining rooms.
KitchenAid and Sub-Zero appliances in kitchens, granite countertops.
Marble floors and wall tiles in master baths, whirlpool tubs.
Private balconies, in-unit laundry rooms.
Community: The 148-unit west tower is on the Chicago River east of Michigan Avenue.
GETTING THERE
Address: 415 E. Water St.
Phone: 312-527-2500
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