Another tower for the South Loop is officially underway. Construction has recently kicked off on a new 26-story glassy high-rise for the surface parking lot at 1136 S. Wabash Avenue near the the Roosevelt Red Line station. The project, a joint venture between CA Residential and developer Keith Giles, will deliver 320 rental apartments and 5,000 square feet of ground level commercial space. While the project is located just around the corner from a Red Line station and major bus lines, the new development will feature 141 parking spaces in a five-story parking podium facing Wabash Avenue.
The majority of the units in the new development will be composed of studio and one-bedroom apartments. The unit breakdown consists of 160 studios, 80 one-bedrooms, and 80 two-bedroom units. Apartment floor plans will range between a petite 389 square feet for some studios up to 1,027 square feet for a two-bedroom unit. While other new downtown apartment developments start around $2,000 per month for a unit, apartments at 1136 S. Wabash are expected to start under $1,500 per month. The rent includes a heap of amenities and an outdoor deck perched atop the parking podium. The project is expected to be completed and units delivered by 2018.
- 26-story South Loop tower gets first permits [Curbed Chicago]
- 24 Story Apartment Tower Planned for South Loop Surface Lot [Curbed Chicago]