Skyscraper fans rejoice, it’s finally happening: The long-discussed condo tower known as 1000M is set for an official groundbreaking event on October 24, the project’s developers confirmed.
The ceremony comes four years after the Helmut Jahn-designed plan for the parking lot at 1000 S. Michigan Avenue was first shown to the public. Since then, the glassy design has undergone several changes, including a haircut from 86 to 74 stories.
More recently, co-developers JK Equities, Time Equities, and Oak Capitals announced the addition of “luxury micro-units,” which start around $313,000. The shift to smaller condos bumped the overall number of residences to 421—up from 323.
The 832-foot tower will have a big impact on Chicago’s skyline, slotting between the 896-foot-tall NEMA Chicago apartments and the 620-foot-tall Essex on the Park high-rise. 1000M will feature 40,000 square feet of amenities designed by Kara Mann, including a pool deck, fitness center, music conservatory, and a Himalayan salt therapy room.
The South Loop tower is expected to welcome its first residents 24 to 28 months after construction begins, developer Jerry Karlik of JK Equities told Curbed Chicago earlier this year. Sticking to that timeline, 1000M should open its doors in late 2021 or early 2022.
Unlike rental buildings that can be financed on pure speculation, condo developments like 1000M require a certain level of pre-sales to get off the ground, which might explain the multi-year wait. The high-rise development has yet to receive a construction permit.