Another residential tower is rising in Chicago’s South Loop. Like so many other recent developments, its biggest asset is proximity to public transportation; and 1136 South Wabash hugs the CTA’s Roosevelt Road transit hub like ivy on an outfield wall.
The 26-story building designed by SCB for CA Ventures and Keith Giles is the latest building in the neighborhood to cater to college students. Almost next door, the old Roosevelt Hotel was renovated a few years ago also to attract the college crowd.
What? You want to know more? Check the press release below.
CA Ventures and K Giles LLC Announce Start of Construction on 26-Story Mixed-Use Tower in Chicago’s South Loop
Transit-oriented development 1136 South Wabash to include 320 luxury apartments, 5,000 square feet of retail
CHICAGO — CA Residential LLC, the multifamily investment and development division of Chicago-based CA Ventures, in a joint venture with Chicago-based Keith Giles of K Giles LLC, announced it has commenced construction on a 320-unit mixed-use development at 1136 S. Wabash Ave. in Chicago’s South Loop. Located steps from the CTA Roosevelt station, which serves the CTA’s Red, Green and Orange lines, the transit-oriented project is scheduled to deliver in May 2018 and will be managed by Chicago-based The Habitat Company.
“The South Loop is one of the city’s fastest-growing neighborhoods and we believe demand for housing in this area will only continue to increase as development pushes farther south,” said JJ Smith, COO of CA Ventures. “With 1136 South Wabash, we’ll be able to transform an underutilized parking lot into a modern mixed-use development that will appeal to a wide range of renters by offering a mix of unit sizes, lifestyle-oriented amenities and an unparalleled location at the epicenter of all the South Loop has to offer.”
When complete, the 26-story tower will include 320 luxury apartments, 5,000 square feet of street-level retail and parking for 141 vehicles. Residences at 1136 South Wabash, located on floors six through 25, will include 160 studios, 80 one-bedroom/one-bath units and 80 two-bedroom/two-bath units, with floor plans ranging in size from 389 to 1,027 square feet.
Each apartment will feature high-end kitchens with contemporary cabinetry, quartz countertops with glass tile backsplash and stainless steel appliances; full-height, ceramic wall tile in baths; Grohe plumbing fixtures throughout and in-unit washer and dryer. Floor-to-ceiling windows will showcase sweeping views of the downtown skyline and Lake Michigan from nearly every residence. Select units will also feature private balconies.
“We’ve learned that renters want all of the amenities and high-end finishes that today’s luxury apartment towers have to offer but at a more attainable price point,” said Smith. “With units starting under $1,500 per month, 1136 South Wabash will present a relative value compared with other newly developed residential communities in the South Loop.”
In addition to well-appointed residences, 1136 South Wabash will boast more than 22,000 square feet of amenity space, including a rooftop deck with multiple landscaped terraces, seating areas, and an outdoor pool and spa. The building’s fifth floor will house a state-of-the-art fitness center and yoga studio; business center; meeting pods; entertainment suite; media and gaming rooms; pet grooming station; and outdoor dog run.
Residents will also enjoy the convenience of nearby restaurants and retail, including a Trader Joe’s grocery store across the street from the building. And, more than 300 acres of green space will be within walking distance of the community.
“1136 South Wabash is located just north of Wabash and Roosevelt, the heart of the vibrant South Loop neighborhood,” said Keith Giles of K Giles LLC. “There is no other property in the neighborhood that compares to the location with convenient access to the neighborhood’s most popular shopping, dining, entertainment destinations and just steps from Grant Park, the Museum Campus and Lake Michigan.”
Lendlease, one of the world’s largest development, property, infrastructure and construction management firms, will oversee construction of the Solomon Cordwell Buenz-designed tower.
“We are excited to have been selected as general contractor for this project and to have the opportunity to contribute to the growth of the South Loop’s residential market,” said Jeffrey Riemer, executive vice president and executive general manager of Lendlease.