Industry News

Chicago Build

Oct 19, 2022

1000M Reaches Main Tower Portion in South Loop

Jack Crawford, Chicago YIMBY

Now that the slanted cantilever section above the podium is complete, structural work has begun on the main tower component for the 73-story 1000M residential building at 1000 S Michigan Avenue in South Loop. The developer team of JK EquitiesTime Equities, and Oak Capitals have planned for 738 rental units in this most recent building iteration. As Chicago’s second tallest active construction project (behind the 850-foot-tall Salesforce Tower), the skyscraper will stand 788 feet upon completion.

The developers have revised the plans for an 832-foot-tall condominium skyscraper from 506 units available for sale to better correspond with current market conditions after a construction hiatus. This condo-to-apartment transition coupled with a $304.5 million from Goldman Sachs and Deutsche Bank has allowed the previously-stalled tower to proceed. Half of the 1000M residences will be studios, a quarter will be one-bedrooms, a fifth will be two-bedrooms, and the remaining units will be three-bedroom units. Less typical of for-rent units, the penthouse offerings will also scale up to 3,000 square feet in size. There will also be 23 on-site affordable residences distributed across 11 studios, six one-bedroom units, five two-bedroom apartments, and one three-bedroom unit.

The design for this new structure envisioned by the late architect Helmut Jahn of the firm Jahn, and has undergone several iterations since its inception. Apart from a series of height reductions, only minor changes have been made to the design, particularly around the crown. The glass-clad tower massing is rounded, emerging from a rectangular base, and tapering outward as it rises. The tower will be a notable addition Chicago’s skyline—especially as it begins to fill in the emerging South Loop portion.

The interior programming will also include 75,000 square feet of amenity spaces including an indoor pool and spa, an outdoor pool deck, a game room, various indoor lounges, virtual golf, a fitness center, and 73rd-floor skydeck with its own bar and lounge. The 325 parking spaces will be housed in a garage accessible via a porte cochere that runs through the center of the tower base.

The 1000M site is near multiple bus routes and the CTA L Green, Orange, and Red Lines. For Metra access, the Museum Campus/11th Street station is located just to the east.

The project will be completed by 2025, with McHugh Construction serving as the general contractor.

Read  more on Chicago YIMBY

 

                                                                                                                        

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