Magellan Development Group

Magellan Development Group, LLC is a Chicago real estate and property development company that was formed as a result of a long term corporate partnership between Magellan Development Group and NNP Residential Development.^[1]

The company's co-chief executive officers are Joel Carlins and James Loewenberg; the company's president is David Carlins. The residential affiliates, including Loewenberg Architects, Joel M. Carlins & Associates, Magellan Marketing Group, Magellan Realty, Titan Commercial and Perl Mortgage operate autonomously within the group structure.

The major accomplishment of their collaboration is the $4 billion, mixed-use Lakeshore East community which reintroduced residential living to Chicago's central business district.^[2] The master plan was designed by Skidmore, Ownings, and Merrill; it consists of 28 acres (110,000 m²), 4,950 new residences, 2,200,000 square feet (200,000 m²) of commercial space, 1,500 hotel rooms, 770,000 square feet (72,000 m²) of retail space, a planned elementary school, and a 6-acre (24,000 m²) botanical park. It earned a 2002 Honor Award for Regional and Urban Design from the American Institute of Architects.

The company has created luxury rental and condominium communities such as The Tides at Lakeshore East, The Shoreham at Lakeshore East, Grand Plaza, The Park Millennium, One Superior Place, and Dearborn Place. Condominium developments at Lakeshore East include the Aqua, Chicago, The Parkhomes, The Chandler, 340 on the Park, The Regatta, and The Lancaster. Other Lakeshore East developments include The Park at Lakeshore East and the Village Market retail center. In addition, the two organizations that make up Magellan Development have independently developed hotels, retail, office and medical facilities throughout the United States.

In addition to the Lakeshore East community, its portfolio includes buildings in Chicago's River North, Gold Coast, and Near West Side neighborhoods, such as The Park Alexandria, The Caravel, Admiral’s Pointe, The Farallon, 630 North State, 21 West Chestnut, and The Park Newberry Residences.

Crain’s Chicago Business has recently named the company LLC one of Chicago’s top 5 “Largest Homebuilders” in 2007 in addition to naming Magellan as number 113 in the list of “Chicago’s Largest Privately Held Companies”.^[3] The company has been responsible for the creation of over 12,000 residential units in Chicago and is known for its philanthropic endeavors and unique Rewards program as well as its luxury properties.

References

1. ^ http://www.nnpchicago.com/media/chicago_tribune_2_15_2006.pdf
2. ^ http://archives.chicagotribune.com/2008/aug/01/business/chi-magellan-builder_chomes_0801aug01
3. ^ http://www.builderonline.com/business/magellan-ranked-as-chicagos-top-builder-in-2007.aspx

External links

• Magellan Development Website