Released on = March 26, 2006, 3:15 pm

Press Release Author = Limerickbiz.com

Industry = Environment

Press Release Summary = A Limerick propty developer is expecting all to be plain
sailing in his newest high-flying venture in Chicago USA -
http://www.limerickbiz.com

Press Release Body = Ger O\'Rourke, the skipper of Yacht Chieftain that famously won
the Sydney Hobart Yacht Race last December, and owner of Chieftain Construction has
taken to the shores of Chicago\'s Lake Michigan for his latest challenge which will
see him develop 333 condo homes on Chicago city\'s prestigious South Loop
neighbourhood.

The Limerickman is depending on the calm and tranquil waters of Chicago\'s famous
landmark to attract buyers to the exclusive development to be called Lexington Park,
which will be built on the site of the former Lexington Hotel.

\"For three or four years we have been looking to build in the United States. We
originally looked in New York and in Boston but property prices there have climbed
so much that appreciation capacity was more limited,\" Mr O\'Rourke said.

\"With both strong employment and economic growth we are confident that there is
major appreciation potential and inherent value in Chicago. We remain on the look
out for other suitable sites in the US and elsewhere,\" he added.

The new con dos will have an average sale price of $325 per square foot and unit
prices in the new development range from $210,000 up to $650,000 for prime penthouse
units.

The site of the original Lexington Hotel was made famous as the location from which
the Mafia Godfather Al Capone spread havoc across Chicago during the prohibition
years and hatched the plans for the St Valentine\'s Day Massacre.

It is also within walking distance of Millennium Park, the lakeshore walks along
Lake Michigan including Museum Campus, Burnham Harbour and 12th Street Beach. The
majority of units have uninterrupted views over Lake Michigan and Soldier Field,
which is home of the Chicago Bears American Football Field to the north, east and
south, views of downtown Chicago to the north and China Town to the west.

Chieftain is an established developer of mixed-use, commercial and residential
projects and recently announced its involvement in the Tshwane International
Conference and Convention Center in South Africa.

Since its establishment in 1992 Chieftain Group has successfully procured in excess
of £1 billion worth of construction projects in Ireland, South Africa, Eastern
Europe, the UK and Chicago. Turnover in 2006 will be excess of €50 million.

Lexington Park will be launched with HOK in Dublin Ireland on May 5th. and 6th. 2006.

For more business news or media contacts relating to Limerick contact:
Jae Taylor;
Tel: 00353 61 326342 | 00353 86 8518337
Web: http://www.limerickbiz.com
email: info@limerickbiz.com




Web Site = http://www.limerickbiz.com

Contact Details = Jae Taylor
Caherdavin
Limerick , na
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0035361326342
info@limerickbiz.com
http://www.limerickbiz.com