The Roosevelt Collection, a $900-million mixed-use residential and retail enclave at 150 W. Roosevelt Rd. in the burgeoning South Loop neighborhood, gives residents a rare opportunity to shop steps from where they live.

Roosevelt Collection’s grand retail boulevard—the width of Michigan Avenue—will be flanked on each side by two floors of nationally recognized retailers, said John McLinden, partner in Centrum Properties, the developer.

The first residential phase of the project, The Lofts at Roosevelt Collection, consists of 342 condominiums planned above retail shops. Six floors of loft-style condominiums are being built above the retail space. “The lofts feature dramatic views of Lake Michigan and the renowned Chicago skyline,” McLinden said.

Residents are expected to start moving into the first lofts in June of 2009, McLinden said. The initial retail shops will open for business in fall of 2009.

The Roosevelt Collection boulevard will culminate in apedestrian-friendly plaza, anchored by large-scale entertainment uses and restaurants,” McLinden said. The streetscape will integrate into the rapidly emerging Roosevelt Road commercial corridor.

The Shops at Roosevelt Collection will consist of two-level retail and entertainment space lined along the project’s central boulevard, and will include a diverse mix of local and national restaurants, cafes and retail shops offering fashion apparel, shoes, accessories, home furnishings and outdoor recreational and sporting goods.

In addition, the project will feature a David Barton Gym, and a 16-screen, 4,000-plus seat Kerasotes Showplace theater which will be the largest theater in the city.

The plaza will be framed by shops and cafes on both sides.

The Shops at Roosevelt Collection will consist of 400,000 square feet of retail and entertainment space, positioned adjacent to a 160,000-square-foot Target. A new 55,000-square-foot Whole Foods, currently the largest in the city, has opened just West of Roosevelt Collection.

Other national retailers also have opened nearby, including Home Depot, Best Buy, DSW, Bed, Bath & Beyond, Office Depot, Sam’s Wines and Spirits and Binny’s Liquors, offering convenient access to everyday shopping needs to cater to Roosevelt Collection’s new residents.

A 2.5-acre public park is planned on the north end of the project, along with a pedestrian mall and plaza. The landscaped parkway will abut cozy outdoor eating areas as well as seating places for quiet relaxation. Landscaped lawns, interactive sculptures and seasonal floral displays, will animate the space.

The parkway adjoins a large circular plaza at the north end of The Roosevelt Collection, which flows into a grand staircase leading down to the new public park, where public events such as art fairs, farmers markets and possibly concerts would be hosted in tandem with the park district.

“With a design plan that strikes the perfect balance between traditional elegance and modern innovation, The Roosevelt Collection offers a rare opportunity—within the city of Chicago, as well as throughout the country—to create a living and entertainment experience within an urban community,” McLinden said.

Construction is ahead of schedule at The Lofts at The Roosevelt Collection. “Walsh Construction, our general contractor, has done an incredible job,” said McLinden. “Work is moving rapidly ahead on the retail floors and several residential floors.”

The loft buyers at The Roosevelt Collection include a mix of move-up buyers—urban professionals who work downtown—and empty-nester purchasers from the suburbs who are attracted to the excitement of the city and are seeking a pied-a-terre, McLinden said.

The 1-bedroom, 1-bedroom-plus-den, 2 bedrooms, 2-bedrooms-plus-den floor plans range in size from 759 to 1,500 square feet of living space.

Prices start in the low-$300,000s and range through the high-$600,000 bracket. Parking within the development’s underground structure will be available.

A retail boulevard is being built on top of the garage which rises 30 feet above grade to intersect with the existing Roosevelt Road overpass. The garage will have more than 1,000 parking spaces for retail customers.

After all road construction is complete, workers will install a stoplight at the property’s entry on the north side of Roosevelt Road. The development will also be accessible from Taylor and Wells streets. The Lofts at The Roosevelt Collection recently was named Chicago’s “Best New Mid-Rise” by New Homes Magazine, a Chicago-area new housing publication.

Loft interiors at The Roosevelt Collection are “an unfolding of experiences that entice and intrigue buyers,” said Anna Simone, a partner in Toronto-based Cecconi Simone, the Toronto-based firm that designed the interior architecture at the Centrum Properties’ development.

The sales center for The Roosevelt Collection at 709 S. Clark Street between Polk and Harrison is open 10 a.m. to 6 p.m. weekdays and 11 a.m. to 5 p.m. on Saturday and Sunday. Please call 866-606-0267, or visit the website, http://www.rooseveltcollection.com/.