Chicago’s newest skyscraper faced a series of obstacles before it could rise 73 stories above Grant Park.
The1000M tower was completed last spring after overcoming those challenges, which included an early halt in construction because of COVID-19, the death of the project’s famous architect, Helmut Jahn, and a pivot from for-sale condominiums to rental apartments.
Developed by New York-based developers Time Equities and JK Equities and backed by local investor Oak Capitals, the 738-unit apartment tower is now a high-profile addition to the skyline near the massive park and Lake Michigan.
The project at 1000 S. Michigan Ave. broke ground in late 2019, only to have construction halted a few months later because of health concerns on the worksite early in the pandemic.
After the loss of construction financing and the German-born, Chicago-based architect’s death when Jahn was struck by two vehicles while riding his bike in the suburbs in May 2021, the developers eventually got the project back on track by making design tweaks — including the shift to rentals — and landing a new finance package.
The result is an 805-foot-tall tower loaded with amenities and high-tech features. Residents began moving in last May.
It received a 2025 CoStar Impact Award for multifamily development of the year in Chicago, as judged by real estate professionals in the market.
The tower was designed to maximize light, a sense of openness and wellness.
About the deal: The developers used a combination of private equity, tax incentives and loans to capitalize the project during a challenging time for funding major developments.
The leasing team focused on young professionals, empty nesters and eco-conscious renters by marketing units through a combination of social media, 3D renderings, virtual tours and sneak-peak tours.
What the judges said: “I chose 1000M for its exceptional blend of cutting-edge design, sustainability, and mobility innovations, including energy-efficient systems, bike storage, electric vehicle charging stations, and for its focus on wellness such as a fitness center, yoga studio, and outdoor terrace,” said Manny Regalado of KW Commercial. “It set a new standard for urban living in Chicago.”
They made it happen: Leaders of the project included Francis Greenburger of Time Equities, Jordan Karlik of JK Equities, Philip Castillo of Jahn, Kara Mann of Kara Mann Design, Randy Bullard of McHugh Construction, James Shortenhaus of Willow Bridge, Shay Cullen of Cullen Construction Management and David Fields of Magnusson Klemencic Associates.