Tagged : South Loop Rentals

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As first reported by the Chicago Tribune, ground has officially been broken on Essex on the Park, a high-profile new apartment tower located at 808 S. Michigan Avenue in the South Loop. But as impressive as this new 479-unit tower looks, it’s not the only major project underway around this part of the neighborhood.  

Construction for a 76-story apartment building at 1200 S. Indiana also began last month, which will also add an additional 792 ultra-luxury rentals to the expanding South Loop market. This particular development, which is being called One Grant Park, was designed by New York-based architect Rafael Vinoly and also include a second tower, which is already planned.  

The Helmut Jahn-designed tower at 1000 S. Michigan is also in the works,

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Although Chicago’s downtown market might appear to be oversaturated with new upscale apartment residences, the development boom seems to be pushing forward as reports surface about a new 199-unit tower possibly making its way over to the South Loop. 

Being developed by Chicago-based Russland Capital Group, preliminary plans have the new building stretching 15 stories high, which if approved, would be located at 1411 S. Michigan Avenue, just a short walk away from Soldier Field. 

Chicago’s occupancy rate for high-end apartments dropped to 92.2% in the third quarter, which has some industry experts wondering if a softening of the market is finally on the horizon. But regardless of Chicago’s most recent development boom bringing a record-breaking 4,500

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