A preliminary construction permit has been issued for a major new residential project located at 1723 S Michigan Avenue in South Loop. The development will comprise a new 13-story building with a total of 149 residential apartment units and 98 parking spaces. The project’s ownership lies with the 1725 S Michigan Development Corporation.
The new development will replace an existing single-story masonry structure on the site, whose tenant City Club Gymnastics is relocating across the street, according to an Instagram post by @mrsouthloop.
The project architect is Gensler. As of now, specific architectural details or visuals have not been made available.
In close proximity are several bus routes, including Routes 1, 3, and 4 all within a one-minute walk south to Michigan & 18th Street. Additional service includes Routes 29 and 62 at State & 18th, a five-minute walk west. Within a 15-minute walk, CTA rail service includes the Green Line at Cermak-McCormick Station, the Red Line at Cermak-Chinatown Station, and the Red, Orange, and Green Lines at Roosevelt Station. Those looking to board the Metra will find service at 18th St Station, a seven-minute walk east.
The general contracting work will be managed by Brandts Build LLC. The reported cost amounts to $7.5 million for this initial permit, which involves the foundation and partial superstructure. Currently, an anticipated completion date has not been specified, though based on similar construction timelines, a reasonable opening estimate could fall between late 2024 or early 2025.