Chicago Cheat Sheet: 1000M condo tower turns to “micro units”… & more

Also, rent fight between M. Fishman and alderman heads to court

TRD CHICAGO /
Jan.January 31, 2019 05:00 PM

1000 South Michigan Avenue (Credit: Miller Hare via Curbed)

1000M developers go “mini” to boost condo sales

The developers of the planned 1000M condo tower on the south end of Grant Park are turning to “micro units” to boost sales. JK Equities, Time Equities and Oak Capitals will have seven floors set aside for the smaller units in the planned 74-story skyscraper at 1000 South Michigan Avenue. Prices range from $313,000 to $1 million for 325 to 850 square feet. Delivery is expected in mid-2021 on the now 421-unit building. [Curbed]

Fishman and alderman headed to court over rent fight

Controversial Logan Square developer Mark Fishman is suing Alderman Carlos Ramirez-Rosa (35th), alleging the alderman owes more than $96,000 in unpaid rent on his former office. Ramirez-Rosa said the suit is political retribution for his criticism of Fishman’s projects, while the developer has accused the alderman or skipping out on his bills. [Chicago Tribune]

Chanel swapping one swanky retail strip for another

Chanel is moving from the Magnificent Mile to Jenel Management’s new retail development on Oak Street. The high-end retailer plans to open a new boutique at 59-65 East Oak Street, where Jenel already is bringing in jewelry maker Van Cleef & Arpels. Chanel will close its home of 21 years in the Drake Hotel at 935 North Michigan after the move. [Crain’s]

Office building planned for River North parking lot

Developer Jaime Javors plans a 12-story office project with ground floor retail on the site of a current parking lot at Illinois and LaSalle streets. Javors had planned a 300-unit apartment building on the site, but it was rejected by Alderman Brendan Reilly (42nd). The new project would wrap around an existing landmark building at 444 North LaSalle Street. [Curbed]

New apartments let you go to church without ever leaving home

A 118-year-old Logan Square church has been converted into a luxury apartment development. The former Episcopal Church of the Advent, at 2900 West Logan Boulevard, features nine apartments renting for $2,200-$4,000 per month. All of the units incorporate the church’s original details like giant stained glass windows and high-lofted timber ceilings. JAB Real Estate launched the conversion with the support of Alderman Scott Waguespack (32nd). [Block Club]

Alinea chef Achatz sells Bucktown home

Award-winning Chicago chef Grant Achatz sold his five-bedroom, 4,300-square-foot house in Bucktown for $1.3 million. Achatz is best known for Alinea in Lincoln Park, which earned three stars from the Michelin guide. He bought the house in 2014 for $1.2 million. Ken Jungwirth of @properties had the listing. [Chicago Tribune]

Heat not included in these luxury apartments

Some residents of the Centrum Bucktown luxury apartment building were among city residents without heat Wednesday, one of the coldest days in Chicago history. A thermostat in one unit read 48 degrees, well below the minimum set for landlords under city code. Developers John McLinden and Arthur Slaven sold the building to New York-based Harlington Realty last year for $51 million. Harlington did not respond to requests for comment. [Block Club]


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