Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Revised Plans Swap Condos for Rentals at 1000M
The Chicago Plan Commission approved revised plans for 1000M, a 73-story residential project designed by the late Helmut Jahn. The revisions include shortening the tower by 27 feet and changing its condominiums to rentals, in the process increasing the unit by 217 to 738 apartments.
If approved by the City Council, as is expected, construction on the project could restart as soon as this fall, the Chicago Tribune reported. Work on the building, which has been planned for years, stopped more than a year ago.
“The pandemic period has been challenging for everyone,” Time Equities Inc. (TEI) CEO Francis Greenburger said in an emailed statement. “We have dealt with these challenges and changes in market conditions by adjusting our development plan in a responsible way so as to have the best final result.”
New York-based TEI and JK Equities are developing 1000M in partnership with Chicago-based Oak Capitals.
- ◦Development


