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South Loop Rental Tower Prepares its Rise at Balbo and Wabash

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The developer hopes to market the building to younger tenants

An upcoming high rise apartment development at the northwest corner of Wabash and Balbo is poised to go vertical as the hot South Loop neighborhood continues to aggrandize. Though foundation work has been underway since March, a recent permit outlines the imminent arrival of the building’s tower crane — specifically, a Peiner model SK 415.

Dubbed 30 East Apartments in reference to its 30 East Balbo address, the glassy tower is designed by Solomon Cordwell Buenz. Developer Gibane Company has announced its hopes of taking advantage of the South Loop’s collection of colleges by actively marketing units to students and professional millennials. As a result, 30 East will offer the flexibility of leasing by the individual bed as well as roommate matching services.

The plan calls for 134 dwelling units, a full suite of indoor/outdoor communal amenities, and roughly 8,000 square feet of ground level retail space. Though 30 East's pricing has not be announced, expect any college undergrads moving into this brand new downtown building to most likely be getting assistance from well-off parents. Occupancy is slated for 2017.