CMK Companies Plans Sixth South Loop Apartment Project

CMK Companies is gearing up for its multifamily project in the South Loop, where apartment buildings continue to sprout up.

The Chicago-based firm, headed by Colin Kihnke, has received a permit to build a 13-story, 149-unit complex with ground floor retail and almost 100 parking spaces at 1723 South Michigan Avenue, Bisnow reported.

The development will stand next to CMK’s existing apartment high-rise at 1720 South Michigan, which rises 33 stories and contains 498 luxury units. The upcoming project marks the firm’s sixth multifamily development in the South Loop, including three on South Wabash Avenue. CMK remains highly active near the south branch of the Chicago River.

The 1723 South Michigan development will replace the former C.I.T.Y. Club Gymnastics, which has relocated across the street. Obtaining a building permit was a relatively painless process for CMK, as no zoning changes or other requests were needed.

It’s unclear if the complex will offer any affordable housing units, but it’s unlikely given the firm’s status as a “boutique luxury” developer. But with other affordable projects on the way in the area — such as Mercy Housing’s two-building complex at the corner of South Wabash and Michigan avenues — Ald. Pat Dowell, whose ward encompasses CMK’s development site, remains supportive of both market rate and rent-regulated housing developments.

“I support diverse housing options for all Income levels throughout the 3rd Ward,” Dowell told the outlet. “We need more affordable housing in the city, and I work to ensure all options are available for people who want to live in the ward.”

— Quinn Donoghue

Update: Ald. Pat Dowell’s stance on housing projects in her ward has been clarified in this story.