Late last year, Related Midwest welcomed residents to its 340 on the Park, the 62-story residential tower (at 340 East Randolph Street) that demonstrated that a chic design could also embrace the environment. Now the company plans to take an encore with The Peshtigo, a 57-story condo high-rise (this one at 515 North Peshtigo Court, just west of Lake Shore Drive) designed by Ralph Johnson.

In environmental building, “a lot of your costs are knowledge costs,” says Kerry Dickson, a senior vice president at Related Midwest. “We learned to do these things on 340 on the Park, so there is much less cost to do it with The Peshtigo.”

Work on The Peshtigo begins this fall, and as at 340, Related will meticulously recycle all construction waste and ensure that chemical fumes and construction dust do not infiltrate the building’s ductwork. The building will provide environmentally sound household cleansers for use in the condos, a dedicated bicycle ramp into the garage (so bike commuters won’t have to contend with autos), and a shared I-GO car for use by all residents. Condos will have bamboo flooring, efficient heating and cooling, and nontoxic paints and other materials.

Prices at the 358-unit building, which is scheduled for occupancy in 2011, start at $480,000 for an 882-square-foot one-bedroom condo and top off at $2,775,000 for a 3,793-square-foot penthouse. Parking spaces start at $45,000.

Photograph: Courtesy of CMK Realty Corporation