Time Equities Inc., JK Equities and Oak Capitals have broken ground on 1000M, a luxury condominium building in Chicago’s South Loop. The development team also includes McHugh Construction as builder, Helmut Jahn as architect and Kara Mann as interior designer. Goldman Sachs will lead the financing for the project, which is expected to cost $470 million.
The property will be located at 1006 S. Michigan Ave. and is expected to feature 832-foot heights, which will make it the tallest tower on Michigan Avenue when completed. The event comes a few months after Time Equities delivered a 16-story residential tower in Grand Rapids’ Monroe North neighborhood.
The project is expected to include 421 units, 23 percent of which were already sold when construction began. In addition, the building will feature coworking space and 40,000 square feet of world-class amenities including:
- spa with hot and cold plunge pools
- steam room, sauna and Himalayan salt therapy room
- outdoor pool and sundeck
- golf simulator
- winter garden on the 72nd floor
- observation deck and lounge with a residents-only bar
- music conservatory
- library lounge featuring a curated collection of classic Chicago authors
The residents of 1000M will be provided with immediate access to Grant Park and Lake Michigan as well as the cultural venues on South Michigan Avenue. A few miles north is Chicago’s Magnificent Mile.