Thursday, October 17, 2019

74-Story 1000M Condo Building Set to Break Ground on South Michigan on October 24th

Not going to lie, this surprised us (via Chicago Tribune):
Developers plan to break ground next week on a delayed, Helmut Jahn-designed condominium tower that would be the tallest building in the iconic row of skyscrapers on Michigan Avenue across from Grant Park.
Called 1000M, a reference to its address in the 1000 block of South Michigan, the 832-foot, 74-story tower would have the largest number of units in any condo building launched in Chicago since the recession.
Plans call for the 421-unit tower to be built near the south end of the Historic Michigan Boulevard District. The district, which extends from Randolph Street on the north to 11th Street on the south, has city landmark protection. The silvery skyscraper would have a distinct silhouette, flaring outward as it rises.
The groundbreaking is scheduled for Oct. 24, according to the developers. An invitation to the groundbreaking calls it an "event commemorating the start of construction.”

Why did it surprise?  Well it's a big big big project and has been slow moving.  Beyond that, it seems as if most experts believe a recession is coming so the timing seems like a challenge.  But what do we know...

Also - starting construction in late October seems like a strange time to be starting in Chicago (it's going to be real cold really soon!).

Anyway, if this in fact takes off it's another huge change for the neighborhood.  In our opinion this will be a beautiful, statement building for the Sloop and will continue to the evolution of a once sleepy part of Michigan Avenue.  The new Hotel Essex and Essex on the Park, just a block north of 1000M, have added some nice energy to this stretch of Michigan so we imagine this new project will do the same.

Should be interesting to see what happens.

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