Mandarin Oriental

Demand for luxury has reached a fever pitch with the pending construction of the Mandarin Oriental Tower in the East Lakeshore neighborhood of Chicago. The 74 floor, 930 foot, glass and steel high rise is projected to open in 2009 with stunning views of Millennium Park. Palladian Development has conceived the project as a “showcase of modern design” and it will add to Chicago’s ever-evolving and architecturally interesting skyline. There will be a total of 500 residences for sale -- including penthouses -- ranging from $600,000 to $21 million. Three types of residences are available, and these include Hotel Condominiums, Residences, and Tower Condominiums.

The 250 hotel condominiums on floors 28 to 40 are described on the Mandarin Oriental Tower’s website as “turnkey, fully furnished studios and one to two bedroom suites with all the hotel amenities.” These units start at $600,000 and rise to $7 million. The condos have access to all the hotel has to offer, including a concierge, doorman, bellmen, limo service, parking, housekeeping, and dining services. The bathrooms are described as oversized and plasma TVs, CD/DVD players, and iPod docking stations are present in every residence. The condos, while owned privately, can be leased to hotel guests who stay at the Mandarin Oriental when the owner is away, making them ideal for a second residence. The hotel manages the units and provides maintenance services.

As the floor numbers rise, so do the exclusivity and sumptuousness. The one and two bedroom Residences are located on floors 41 to 54. The entry price on these units is $1,200,000 and the owners enjoy access to a private lobby. Units can be purchased furnished or unfurnished, and all units have full access to the hotel services. The Tower Condominiums start at $650,000 and range from one to four bedrooms, and are accessed via a private elevator. Some of the units have 10’ ceilings and views of all four directions. Other amenities in the Tower units can include a media room, a sitting room, a dressing room, and floor to ceiling windows. The kitchens feature Sub-Zero, Wolf, and Miele appliances. The bedroom suites feature a Kohler bath, marble countertops, French limestone floor, and tile from Paris Ceramics. The prominent Chicago interior designer Frank Perry, who designed the hotel rooms, will be available for private consultations for individual Tower Condominiums. These residences also include VIP access to hotel spa services and priority reservations for dining. The 18th floor of the Mandarin Oriental houses the 32,000 square foot spa and fitness center. The fitness center and spa will offer strength training, massages, yoga, pilates, cardio classes, a pool, and sauna and steam rooms. Two restaurants will open in the hotel and there is additional retail space available. Both the hotel and the residence entrances will be located on North Stetson.

Estimated development costs are between $400 and $500 million. In a March 2006 article, the Sun-Times noted that the structure could face competition from the Trump International Hotel and Tower and other condo hotel projects like the Shangri-La which are expected to open within the same timeframe. Similar projects by the Mandarin Oriental Hotel Group are slated to open in Las Vegas, Boston, and Dallas. Internationally, projects by the Group are also underway in Mexico, Grand Cayman, Barcelona, and Macau, reflective of the growing demand for five-star living.

The Hong Kong-based Mandarin Oriental Hotel Group’s Asian-inspired luxury has been lauded by both the Robb Report and Condé Nast Traveler. The lead architect of the project, Martin F. Wolf, works out of his Chicago office for Solomon Cordwell Buenz, a firm with substantial experience designing hotels and mixed use urban developments. Booth Hansen, another architecture firm, has designed the floor plans for the Tower Condominiums. Palladian Development has projects ongoing worldwide, including a luxury development in Italy that features a championship golf course. Interior design consultant Frank Perry has worked for other luxury hotels such as the Four Seasons and Ritz Carlton and has been a household name in interiors for twenty years.

For more information on the condo hotel units and residences available for purchase at the Mandarin Oriental Tower in Chicago, visit the sales center at 160 North Stetson Avenue. Hours are from 10am to 6pm Monday through Friday, and 11am to 5pm on weekends.

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