4 Things to Know About the South Loop's Ultra-Luxury 1000M Condo Development
1000M is a 74-story luxury condo building planned for the South Loop. Construction on the project hasn’t even started, but it is already generating a lot of buzz. Here are four things to know about 1000M.
The South Loop Tower Will Have 323 Units
1000M is set to make quite an impression on the Chicago skyline with a planned height of 832 feet. Designed by architect Helmut Jahn, the building will feature 323 luxury condos.
The residences will feature high ceilings and big windows with gorgeous views of Lake Michigan and Grant Park. Some of the units will have inset terraces as well, according to the 1000M website. The tower employs a slightly twisted design, which aims to maximize the view of the surrounding area. The interiors of the building are designed by Kara Mann, according to Curbed Chicago.
1000M Accounts for a Big Chunk of Chicago Condo Sales
Over the course of the fourth quarter of last year and the first quarter of this year, 38 of the tower’s condos were sold, accounting for about 34 percent of Downtown Chicago’s new condo sales according to Curbed Chicago.
1000M is expected to break the record for the most expensive condo in the South Loop. The previous record was a $3.2 million sale made in 2016. A penthouse at 1000M has a list price of $8.1 million.
“Virtually every contract we take at 1000M sets a record over what has previously sold south of Millennium Park,” @properties director of sales John Goldsworthy told Curbed Chicago.
The Building Will Feature a Ton of Amenities
1000M is getting a lot of attention for the amenities it plans to offer. Residents will have access to health and wellness features like a Himalayan salt therapy room, a yoga and meditation space, and a fitness center. 1000M will also offer a variety of spa and sauna services. Level 72 of the building will feature a full-service bar and lounge, a wine tasting room, a private dining room, and a winter garden. Residents will also have access to a golf simulator room, which will allow them to practice their long and short game at top courses from around the world. Outside, the building will offer a swimming pool with poolside cabanas, a garden, and space for cookouts.
The Development Could Break Ground Next Year
1000M was initially slated for a 2018 groundbreaking, but the date has been pushed back to 2019. The developers leading the project include Oak Capitals, JK Equities, and Time Equities. The building site is a lot located at 1000 S. Michigan Ave. The project is expected to reach completion by 2022.