JK Equities, the developer behind the 42-unit, seven-story boutique condominium building, 1400 Monroe, has announced groundbreaking on the project will commence on April 1. Lakeside Bank is financing the construction loan, and the property, located in Chicago’s West Loop, is expected to be delivered by summer 2021.
Milburn Demolition and Dismantling has been leading the demolition process of the previous old building which is nearly completed. Pricing for 1400 Monroe starts in the $760,000s and ranges up to $2.35 million with sales led by ON Collaborative, with homes ranging in size from 1,242 to 3,139 square feet, offering two, three- and four-bedroom layouts. To date, more than 30 percent of the building’s 42 residences have been sold.
“We’re excited to begin construction on 1400 Monroe and become one step closer in delivering it to the neighborhood and our buyers,” said Jerry Karlik, principal of JK Equities. “This project provides future residents with a well-designed home on the park, in one of the most coveted public school districts in downtown Chicago, at a competitive price point.”
Designed by the award-winning, Chicago-based architecture firm Booth Hansen, 1400 Monroe was designed in part to create harmony between the neighborhood’s industrial past and today’s modern design. The façade will be made up of a rich depth of grey brick paired with metal detailing and industrial-sized windows flooding the homes with natural light. Residences, designed by highly acclaimed, New York-based Mojo Stumer, boast modern, open-concept floor plans that are designed for space efficiency with oversized kitchens and elegant finishes. Most homes will feature large balconies for entertaining or Juliet balconies, and select second-floor homes will feature expansive outdoor terraces.
“There continues to be very strong demand for mid-range luxury condos for families and young buyers in the West Loop,” said David Wolf, president of ON Collaborative by Coldwell Banker. “1400 Monroe offers buyers an exceptional value in one of the most sought-after neighborhoods in Chicago.”
