Third Canyon Ranch Living Planned for Chicago

Canyon Ranch is planning to build a third 'healthy living' residential community in Chicago. The 67-story tower overlooking the Magnificent will include 256 residential condominiums, 128 hotel condominiums, a world-class 65,000-square-foot health and wellness center, a gourmet healthy restaurant. This will be the first urban location of Canyon Ranch's innovative hotel-residence-wellness center concept.

Canyon Ranch has partnered with Chicago's LR Development Company to create the luxury condominiums. Robert D. Henry Architects will design the hotel and wellness center. 'For many years we have been looking to find the right partner and location in the great city of Chicago, which is home to many of our resort guests," said Canyon Ranch President Kevin Kelly. "Our extensive research indicates many people are passionate about a wellness-based lifestyle."

'When it comes to luxury living, spas are becoming what golf courses became 30 years ago—a must-have amenity, providing aging baby boomers with their most important lifestyle requirements, namely health, wellness and fitness, pursued in a spa setting,' says Spa Finder President Susie Ellis. Ellis has been tracking the development of spa residential communities over the past few years. 'The idea of living in a community where the spa and spa living are central holds tremendous appeal, particularly for a new generation of health-focused vacation and second home buyers; it's an idea whose time has come,' said Ellis.

The first Canyon Ranch Living community is under construction in Miami Beach on oceanfront property and will open in 2007. Canyon Ranch Living - Bethesda, scheduled for 2008, was announced in April. Miami Beach, a six-acre oceanfront property with 151 condominium-hotel suites and 467 condominium residences, has pre-sold almost all of his units. According to Joel Greene, an associate with Condo Hotel Center, only 10 units remain out of 151 units. "I have never seen a property sell their units at such a lightning fast pace as they have at Canyon Ranch. In about three months, they sold as many condo hotel units as most developments take two years to accomplish."