Chicago’s biggest condominium project since the recession will be under construction by December, and the Helmut Jahn-designed skyscraper will open within three years, its developers said Thursday.
A groundbreaking event Thursday by developers Time Equities, JK Equities and Oak Capitals was ceremonial. Actual construction will be underway soon on 1000M, the 421-unit condo tower at 1000 S. Michigan Ave., Time Equities chairman and CEO Francis Greenburger said.
The $470 million project is within a month of finalizing the first of two rounds of construction financing led by Goldman Sachs, according to the developers. Greenburger declined to say how much they plan to borrow for the project.
1000M will be the largest condo tower by number of units launched in the city since the last recession. The 832-foot-tall tower also would be the tallest Jahn-designed building in Chicago, where the architect is based. It is expected to take 28 to 36 months to build, he said.
great for Chicago! Most of what is currently rising is office space.
too bad its not 1,000 feet tall with that address! but still not bad overall
In my opinion, the height is great. If more beautiful buildings like this are built around it on the same street, it just means that the buildings behind them will have to be taller to get a better view
Anyway, not much is happening on site besides the arrival of more machinery! From November 27th:
I hope this thing goes vertical soon!
This is a great tower. Jahn always delivers.
It looks like a midwestern (fatter) 50 West.
You mean Abe Froman? The sausage king of Chicago??
Pretty neat render here from Curbed Chicago:
Read this cool article here about this. Looks like it’s official! WOOT WOOT!
Looks like a lot of activity! Taken on my birthday! (Jan 13):
@Oatmeal Happy belated birthday!
Thank you kind sir!
Getting there! Kinda slow tho imo. I am just happy this is getting worked on tho February 21:
Very interesting mural -
I’m sorry everyone for my absence! I have been lurking a lot more the past few weeks. Haven’t had the time to post much, but now I should have some!
This one is looking good. It’s moving forward at a good pace. Here’s another photo from March 27th so it was a while ago. But it gives you a good idea of what the foundations are looking like:
Agree that Chicago is having bit of a boom?! The cost of building is much cheaper than NYC.