Time Equities, JK Equities, and Oak Capitals’ 1000 South Michigan (1000M) to recommence construction as rental tower
ReJournals – Chicago-based McHugh Construction will serve as the construction manager for 1000M.
“While it was disappointing to have to stop construction at 1000M during the pandemic, it gave us the opportunity to completely recalibrate and redesign the project as an ultra-luxury residential rental tower,” said Robert Singer, Director of Development of TEI. “We think we ended up with the right design, the right product at the right time. The market in Chicago for ultra-luxury rental apartments is very strong, and we see this segment of the market only strengthening from here. We look forward to delivering best-in-class apartments in late 2024.”
Read the full article here.
Multi-Housing News, Chicago Project Moves Forward With $305M Loan
Chicago Agent Magazine, Construction on 1000M to recommence, for use as a rental tower
Chicago Sun Times, Financing Back in Place for Michigan Avenue Tower
Bisnow, This Week’s Chicago Deal Sheet