More than two years after plans first emerged for the new Helmut Jahn-designed tower for 1000 South Michigan Avenue, condo sales are finally underway. Dubbed 1000M, the glassy tower from developers Time Equities, JK Equities, and Oak Capitals, LLC will eventually rise 74 stories over the southern end of Grant Park and feature 323 residences.
The tower’s pricey units have been listing since last October and the sales team is on pace to hitting its first quarter goal for 2018, according to sales director John Goldsworthy.
“We’re moving full swing ahead and taking appointments every day,” Goldsworthy says. “We’ve definitely pushed the price in the neighborhood.”
According to Goldsworthy, pricing for the tower starts around $570,000 for a 900-square-foot single-bedroom unit, up to $8.5 million for one of the upper-level penthouses. This translates to buyers paying just over $600 per square foot for lower-level condos and roughly $1,350 per square foot for a penthouse.
However, buyers will have to wait at least another couple of years before they can move in, Goldsworthy says. Groundbreaking is expected to take place later this year or in early 2019, with anticipated completion in early 2021.
The tower faces stiff competition from other high-profile condo tower projects such as the under-construction Vista Tower and One Bennett Park, but Goldsworthy says that 1000M’s location, design team, and amenities have helped it stand out in a crowded arena. Chicago’s JAHN, a firm led by noted architect Helmut Jahn, is partnering with interior designer Kara Mann for the project. “It’s been a big draw that Helmut is the architect behind the project,” says Goldsworthy.
According to Goldsworthy, the tower’s 40,000 square feet of amenities are focused on wellness and entertaining. Notable features include a salt therapy room, meditation studio, a performance space, and a private club with an outdoor rooftop deck.
The best part of buying a unit at 1000M?
“The views of 1000M are protected for life,” Goldsworthy says, referring to the tower’s proximity to the protected Grant Park. “There’s nothing that can pop up and block the views.”
17 hours ago
1 week ago