The South Loop’s rental frenzy is showing no signs of slowing down as work continues on a pair of 15- and 10-story apartment buildings at the corner of Wabash Avenue and 14th Street. The taller structure, at 45-59 E. 14th Street, will offer 199 units while its shorter companion, at 1419 S. Wabash Avenue, will bring 62 units to the rapidly changing downtown neighborhood.
While foundation and demolition work began this spring, a full construction permit for the taller building was awarded earlier this week. Designed by Chicago architecture firm Pappageorge Haymes Partners, both structures will feature ground-floor retail space, indoor and outdoor amenities for residents, and a combined 95 parking spaces.
The former Columbia College parcel was previously home to a low-rise theatre building and a surface parking lot. It sold to developer CMK Companies for a reported $6.5 million in October of 2017. The residential redevelopment managed to move forward with little public fanfare by utilizing the site’s existing zoning designation and requiring only minor administrative variances.
CMK has been particularly busy in Chicago’s South Loop in the past, with projects such as the 16-story condo building at 1345 S. Wabash and the 28-story apartment tower at 1333 S. Wabash. The developer is also the driving force behind the 8-acre, multiphase Riverline project, slated for the east bank of the Chicago River.
The CMK duo aren’t the only residential projects proposed for the intersection of Wabash and 14th Street. In 2016, the Chicago Plan Commission approved a 290-foot, 296-unit building to replace a parking lot at 1408 S. Wabash Avenue. Developed by American Landmark Properties and designed by architecture firm Lucien Lagrange Studio, the high-rise has yet to break ground.
- New construction permit at 51 E. 14th Street [Chicago Cityscape]
- What does CMK have in store for this South Loop site? [Crain’s]
- Previous South Loop coverage [Curbed Chicago]
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