New High Rises in the Heart of the Gold Coast

Brown, Udell, Pomerantz & Delrahim has recently assisted The Enterprise Companies and Mesirow Stein Realty in launching Walton On The Park. Construction is scheduled to start in a few weeks on this first class residential development located on the entire square block bordered by State, Dearborn, and Walton & Delaware. The project will consist of two 200-unit towers and include retail at grade along State Street. On the Delaware side, are 3 historic mansions slated for rehabilitation, and the magnificent landmark Scottish Rights Cathedral for which future plans are under development.

The South Tower is the first to be built and will sit on top of a 7 story podium which will contain a parking garage and a recreational facility. One of the first assignments for our firm was to analyze the development scheme comparing the benefits and burdens of utilizing an Add-On condominium scheme vs. two separate associations and a master association. We next had to develop a series of special easements as the main parking garage abutted the garage/coach houses of the historic mansions and it was necessary to provide access through the condominium garage to the mansions which are not part of any of the condominiums. Both of these challenging conceptual and drafting projects were completed in a timely fashion to allow the project to pen in time to sell over 40% of the units before commencing construction.