Friday, January 11th, 2019
With roughly 2,000 new rental units slated for delivery, 2019 will surely be a big year for residential development in the South Loop. Here are the four primary high-rise projects expected for completion this year.
NEMA, formerly known as One Grant Park, is a 792 unit rental building being developed by Crescent Heights. The tower will be a stand-out addition to the Chicago skyline and is being designed by world-renowned architect, Rafael Vinoly. According to renderings, NEMA is expected to have over 70,000 square feet of amenities including indoor and outdoor pools, coworking space, basketball court, boxing gym, a golf simulator, playroom, multiple lounges, and a chef’s kitchen.
Essex on the Park
Essex on the Park is a 479 unit rental building being developed by Oxford Capital and Quadrum Global. The project broke ground in 2017. Essex on the Park will ofter spectacular amenities including an outdoor patio with grills, a fitness center with a yoga studio, multiple entertainment lounges, a conference room, and a four-story indoor lounge with a pool overlooking the South Loop’s Grant Park. Residents will also have full use of the services and amenities of the Hotel Essex.
The high-rise was designed to focus on wellness and includes technology that provide cleaner air and water and reduce light and noise pollution.
The Paragon, a glassy 2-tower high-rise formerly known as SoMI, will feature 500 rental apartments and 7,500 square feet of retail space. The Paragon is being developed by CIM Group and Murphy Development and will offer studio, 1, 2, and 3 bedroom apartments.
14th and Wabash
CMK is developing the 261 unit high-rise at 14th and Wabash, and it’s not their first rodeo. CMK is also the developer behind three other recent South Loop high-rises including 1333 S. Wabash apartments, 1345 S. Wabash condos, and the southern half of the Riverline project which is currently under construction. Although the specifics aren’t fully disclosed, it is clear that 14th and Wabash will be an amenity-rich building with plenty of indoor and outdoor resident common space.