Funding has been fully secured for the ongoing mixed-use development at 1010 South Wells Street in the South Loop. The upcoming tower is the first building of the long-planned Riverline development led by CMK Properties, with construction already having gone vertical in recent weeks. The team has now closed on a loan to complete the structure.
Photo by Daniel Schell
Photo by Daniel Schell
In late 2024, CMK revived Riverline with an updated design led by architecture firm Gensler, breaking ground in 2025. The 21-story structure includes a three-story podium that will hug a new portion of the riverwalk, over which the tower will cantilever. The ground floor will feature 2,900 square feet of retail space, along with a large lobby and amenity space along the water.
Rendering of 1010 S Wells Street by Gensler
Rendering of 1010 South Wells Street by Gensler
The rest of the podium will contain 182 parking spaces and be capped by an outdoor deck connected to an indoor amenity level. The remainder of the building will house 388 residential units, consisting of studios and one-, two-, and three-bedroom layouts; it is unknown how many will be designated as affordable. The glass-clad tower will rise to 226 feet in height and feature angled window bays.
Photo by Daniel Schell
With a tower crane now in place, the project is well underway. While permits for 1010 Wells listed a $60 million cost, CMK has secured an $83 million loan from Wintrust Bank. A completion timeline is currently unknown. Eventually, a second 28-story tower at 910 South Wells will rise just to the north with 350 units; permits for this phase are already pending.
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Looks like it could have been taller, perhaps. But glad to see it moving.
The top render shows a steel river wall (not sure of technical term) but the bottom pic has rocky shore to the far right with columns close to river edge. Any idea what that is about?
Seems short for the area, but glad to see anything going here. Hopefully some more projects can get funded soon. So many approved high rises and skyscrapers just waiting. Anyone here anything about Halsted Pointe or North Union on Wells starting any of their high rises?
hear*
There is currently no road access to Halstead Point, and they last issued a permit to rebuild the site’s access with a new ramp.
Time. This is what’s needed. This chunk of Wells now has three active projects going. The river has 8 active projects. Tons of infill region-wide. West Loop picking up steam again. Dirt moving at the United Center.
A city is much more than tall stuff.