Michigan Avenue tower 1000M to get its first residents

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Pre-leasing has begun for a 73-story residential tower on Michigan Avenue that joins the Chicago skyline at the south end of the Historic Michigan Boulevard District.

The first residents can move into the building, called 1000M, on May 1, with phased move-ins continuing throughout the year.

Developers Time Equities, JK Equities and Oak Capital partnered with internationally renowned local architect Helmut Jahn, who died in 2021. His firm carried the project through to its finish.

Robert Singer, director of development at Time Equities, said the property, at 1000 S. Michigan Ave., already has “extraordinary” interest.

“The reality is that there’s just not another building of this scale and quality that’s on Michigan Avenue at the park,” Singer said. “If you’re somebody who wants the biggest amenity package, on the park, we think we’re the new one that you can go to.”

The building’s unique design slopes 17 feet over a neighboring property, expanding it north and south, and allowing for more east-facing views.

“It kind of gives the building an interesting silhouette on the skyline when the light hits the tilted glass plane,” Jahn Managing Director Philip Castillo said.

Castillo said he and Jahn worked to ensure 1000M’s design would complement the architecture of the historic district while still bringing a modern flare to the project.

It’s the last property designed by Jahn and his tallest Chicago building. Jahn also designed the Thompson Center in the Loop and the United Airlines terminal at O’Hare airport, Castillo said. Castillo, who started working with Jahn in 1979, added that he’s “convinced” Jahn would’ve been pleased by it.

“This is really kind of the logical progression of the architecture that Helmut had developed over the course of his lifetime,” he said.

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Monthly rents range from $2,105 for a 450-square-foot studio to $15,970 for a 3,156-square-foot four-bedroom apartment, according to the building’s website. Tours are currently taking place at 1000M’s showroom.

It has 738 units and more than 80,000 square feet of amenities, including dining on the 73rd floor, an indoor lap pool and two floors of fitness facilities.

“It’s very dramatic; it’s very high end. We think that the neighborhood is phenomenal in that it’s incredible access to the park, forever views,” Singer said.

The building will have about 25 affordable units, in accordance with Chicago’s Affordable Housing Ordinance. Pre-leasing is not currently available for those units.

Fourth Ward Ald. Lamont Robinson, who represents the ward where 1000M is located, said affordable housing should remain the priority.

“I appreciate the positive impact of the new 1000M building in expanding residential options in our ward,” Robinson said in a statement to the Sun-Times. “However, it is crucial that we prioritize the need for more affordable housing downtown to ensure a balanced community that caters to the working class.”

The project began in 2015 and was halted for more than a year during the pandemic until a construction loan from Goldman Sachs and Deutsche Bank relaunched the work. The break gave developers a chance to rethink the building, Singer said, leading them to shift from condominiums to rentals.

Work on the building, led by McHugh Construction, is expected to be completed toward the end of this year.

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