A groundbreaking ceremony was held recently for the 74-story condo project.
CHICAGO—Co-developers Time Equities, Inc., JK Equities and Oak Capitals are commencing construction soon on the 74-story luxury condominium tower 1000M.
The 832-foot tall tower building will be the largest building on Michigan Avenue. The $470-million project is being financed by Goldman Sachs. Construction is expected to begin in December.
In late October, the development team held a groundbreaking ceremony and reception for the 421-unit project. Designed by a Chicago-based team—German architect Helmut Jahn with interiors by Kara Mann—1000M will also be the largest condo project, in terms of the total number of residences, launched in more than a decade in Chicago.
The tower will feature 40,000 square feet of amenities, including: a spa featuring hot and cold plunge pools, steam room, sauna and Himalayan salt therapy room; an outdoor pool and sundeck; fitness center; golf simulator; co-working space; a 72nd floor winter garden, observation deck and Club 1000 lounge with a residents-only bar; music conservatory; demonstration kitchen and private dining room; lobby with 24-hour staff and a porte cochere and a concierge.
At the groundbreaking ceremony, Francis Greenburger, chairman and CEO of Time Equities, said, "I have been inspired since the beginning to create 'true beauty' in the form of an iconic structure that will take its place as a defining element of the Chicago skyline. Thank you all for believing in this vision and joining me for the ride."
Among the speakers at the groundbreaking were: Time Equities' Greenburger, Mike Golden, co-CEO of @properties, 1000M's exclusive sales agency; 4th Ward Alderman Sophia King; Jerry Karlik, founder of JK Equities and Eli Abubeker, principal of Oak Capitals.
So far, 1000M has sold 23% of its 421 luxury residences to date.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
