Construction has started on a 15 story tower that will become Chicago's first new high rise condo development in years. YoChicago recently spotted an excavator and surveyors on the site at 1345 S Wabash Avenue, which indicates that this tower is indeed ready to rise. CMK Companies is looking to make quick work on the development, as the website for 1345 Wabash states that units will be delivered at the beginning of next year. Once completed, the new tower will contain 144 condo units, with one bedrooms starting around $219K and two bedrooms going for around $300K. Surely the new tower will be a much welcomed addition to the area and will be within walking distance of South Loop bars, restaurants and grocery stores.