CMK Companies is planning a 299-unit residential tower in the South Loop, a project that would rise near three major apartment complexes the developer has already built.
The filing for the 30-story building at 1400 S. Wabash Avenue comes about a year after CMK paid $6 million for the site. The seller was American Landmark Properties, which received approval in 2014 for a 296-unit apartment building. That project never broke ground.
Now, more than a year into the pandemic and with the Chicago residential market on a hot streak, CMK is making its move. Plans don’t specify whether it will build rentals or condos, according to Crain’s. But the prolific developer already has two rental complexes within a block: the 261-unit Coeval and a 307-unit building.
Also in the South Loop and about a mile away, CMK last year completed its 349-unit rental complex, Imprint. That property is still being leased up, according to the report. In mid-2019, the firm landed $147 million in financing to complete that project.
[Crain’s] — Alexi Friedman