The name 'Aqua' was assigned to the building by Magellan Development Group LLC. It fits the nautical theme of the other buildings in the Lake Shore East development, and is derived from the wave-like forms of the balconies; the tower's proximity to nearby Lake Michigan also influenced the name. Concrete Superintendent Paul Treacy, was nominated as one of Engineering News-Record's (ENR) top 25 news makers of 2008 for the design and implementation of the exterior formwork to mold the undulating façade of the Aqua.