An official grand opening has been held for the residential tower at 1000 S Michigan in the South Loop known as 1000M. Sitting along the famed avenue and across the street from Grant Park, the tower replaced a vacant lot and cantilevers over its shorter neighbor. Efforts on the skyscraper were led by Time Equities, Inc., JK Equities, and Oak Capitals, who were all in attendance at the ceremony.
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
Rising 74-stories and 805-feet in height, the tower is one of the last designs to come out of famed architecture firm Jahn/ prior to their founder’s death in 2021. Its development was also marked by the pandemic and local politics, with its original 1000-foot height and boxy shape being replaced by a shorter, smoother design. It also saw a stall in construction briefly while it pivoted from condominiums to rentals.
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
The tower itself rises over a multi-story podium which contains a 325-vehicle parking garage and is topped by a two-story amenity level with an outdoor pool, patio, indoor pool and whirlpool, art gallery, and various lounges. With over 80,000 square-feet of amenity space it also includes a two-story fitness center, full floor co-working lounge, and a large rooftop observatory which is yet to open.
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
Inside the structure are 738 apartments made up of studios starting at $2,080 per month, one-bedrooms starting at $3,100, two-bedrooms starting at $5,100, three-bedrooms starting at $9,500, and four-bedrooms penthouses starting at $16,000. Of these, roughly 148 are considered affordable at lower rates.
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
While move-ins into the lower 40 floors of the tower began in May, many of the Kara Mann designed amenities are yet to open to tenants including the pool. Local brokers also mentioned they were seeing a fair bit of relocations from nearby NEMA, who’s developer recently listed the adjacent parcel at 1201 N Michigan for sale.
1000M. Photo by Ian Achong
1000M. Photo by Ian Achong
Currently the tower is roughly 31-percent leased and 11-percent occupied. Current residents were also included in the opening celebrations of the $470 million tower. Clad in a blue curtain wall system with metal spandrels, the structure is being completed by McHugh Construction Co. who expects to finish the interiors by the end of the year.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Interested in The Affordable Units.
I’m presently at 1326 S Michigan
I watched your Construction,it’s a Beautiful
Property
“1326 S Michigan”.. sooo, The Paragon? lol
In the second pic, what are those vertical gaps in the glass? I assume they are not tiny balconies, like the side of the building? Ventilation for the mechanicals?
Hey Steve! The upper floors were closed but I believe facing the lake they are openings for the observation deck and ventilation on the west side. I can follow up and let you know!
Yes balconies
What is the rental price in a two bed 2 bath affordable rental and do you accept HCV
The prices are ludicrous. Over $3k for a ONE BEDROOM???? Windows are not floor the ceiling and floor plan looks cramped. Not to mention once moved in you can’t use the amenities because they’re not up and running as of May like the article states. Joke. 🙁
How are the affordable lower rate rents calculated? What are the unit sizes available for lower rates?