Yeah I think they assumed what works for them in Manhattan would work in the South Loop. :haha:

^ Yeah - seriously, could be. I mean, I was certainly left with the impression at least that they didn't do all their homework.

So should we have faith in the restructuring of the condo to rental ratio or is this basically a last second Hail Mary?

With the rental component people can just sign leases and move in while brokers focus on selling the condo component. The money would be flowing for the rentals, making the entire project less of a risk.

Slight modifications
https://chicagoyimby.com/2021/02/rev...kyscraper.html

Revised Plans Filed For South Loop’s Stalled 1000M Skyscraper

https://chicagoyimby.com/wp-content/...elevations.png

The proposal was submitted by Time Equities, who has co-planned the project alongside JK Equities and Oak Capitals. The application requested an amendment to allow for 738 units, an increase from the initially planned 421 condominiums. Current zoning, according to The Real Deal, would only allow for a maximum of 506 units. It is unclear what types of units will occupy the new version of the tower, although a Chicago Tribune article from December 2020 suggests a potential shift to apartments. Despite the unit count increase, the height of the new structure would reduce slightly from 832 feet and 76 floors to 802 feet and 73 floors. Additionally, the tower’s total floor area would now stretch 903,455 square feet. The incorporated renovation of an adjacent 102-foot-tall office building would remain as is.

https://chicagoyimby.com/wp-content/...2666216688.png

https://chicagoyimby.com/wp-content/...-1536x1466.png

Link: https://chicagoyimby.com/2021/02/rev...kyscraper.html

what an awesome plan. can't wait to check out that roof deck one day!!!

Amendment for Zoning change.

https://chicago.legistar.com/View.as...E-D2F6A4CF9C3C

Excited this has come back to life.

Aside from Regis, this will have the biggest impact on the skyline (even more than OneChicago). I will fill the gap between the NEMA cluster and Essex very well when viewed from Alder (which is of course a super popular viewing point).

looks like all the detailing for the crown fell by the wayside... too bad

I think that's an improvement. The uninterrupted façade will help promote the sculptural aspect of the design, given the dimensionality of its curvy shape.

Renderings Reveal Updated Design For 1000M At 1000 S Michigan Avenue In South Loop
 

https://chicagoyimby.com/wp-content/...HN-777x518.jpg

Renderings have been revealed of the updated design for 1000M, a residential tower located at 1000 S Michigan Avenue in South Loop. Located on an empty lot, the site fronts S Michigan Avenue midblock between E 9th Street and E 11th Street. Time Equities and JK Equities are the developers behind the project.

https://chicagoyimby.com/2021/02/ren...outh-loop.html

Here is the key quote from that article:
So as we suspected, COVID was just a fig leaf for the pause in construction last year. And they still have not secured financing to actually finish it.

So according to article, all rentals, now 738 units. Big boost in density. I wish them all the luck in the world in pulling this off.

I haven't researched, but I wonder if these developers have any relevant experience (let alone a strong established track record) with very large rental development? If not, that will certainly not make things easier to pull off financing here. It's a heavy lift, and I hope they can get it done. If they run into real difficulty in the months ahead, would appear to be a good opportunity to JV with an established player in the market, or potentially sell to one that can hit the ground running.

We just better not end up with a half built skeleton to look at for years and years from Grant Park and the Lake.

https://www.chicagobusiness.com/comm...ark-skyscraper



Y’all seen this dumbass sh*#

"This extremely dense concentration of dwelling units could create safety problems and potentially lower the property values of the existing community”

What a joke.

Yes.... transients. :haha: On Boul Mich, overlooking the park and the lake. By the sounds of it you would think they are building a highrise SRO here. Give me a break with these fatalistic/doomsday whines.

The residents and adjoining property owners along Michigan Ave. need to non-politely go fuck themselves. This has got to be the most insipidly ridiculous logic I've ever read! Transients, in an expensive rental tower on Michigan Ave.? Wow, what a bunch of bovine excrement!

Aaron (Glowrock)

Right. Because Nema is not all rental and a block away.

Give me a break