In June 2005, Arcapita entered into a joint venture with Elysian Development Group – Chicago, LLC (“Elysian”) to construct a 60-story high-rise tower in Chicago, Illinois. Centrally located in the heart of Chicago’s vibrant Gold Coast neighborhood, the project consisted of 51 residential condominiums, 188 hotel suites, retail space, a health club and spa, an upscale restaurant, a two-level, 110-space subterranean parking garage, and a 12,407 square foot land parcel situated in the southwest corner of the site at the time of acquisition by Arcapita. Elysian is a consortium of preeminent companies and individuals with extensive real estate experience in residential, retail, office, hotel, spa and mixed-use properties. The group has an impressive track record of more than 80 highly successful development projects throughout the United States.
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