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Residential
Chicago

CMK plans 299-unit South Loop tower

Would add to 3 rental complexes firm developed in area

CMK Companies CEO Colin Kihnke and an aerial view of property at 1400 S. Wabash Ave. (Google Maps)
CMK Companies CEO Colin Kihnke and an aerial view of property at 1400 S. Wabash Ave. (Google Maps)

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.

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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 

Tags
ApartmentsCMK CompaniesSouth Loop