JK Equities announced that construction has officially commenced on 1400 Monroe, the 42-unit, seven-story luxury condominium in Chicago’s West Loop. Construction on the project—led by Summit Design + Build and financed by Lakeside Bank—is expected to wrap by summer 2021.
“These have certainly been unprecedented times, however we’re very pleased that we’ve been able to press ahead with construction and strong sales,” said Jerry Karlik, principal of JK Equities. “We would be remiss to not thank all of our partners, including Astor Realty Capital, who are involved in this special project. We can’t wait to deliver 1400 Monroe to our buyers and the community.”
Currently over 40 percent sold, pricing for 1400 Monroe ranges from $760,000 to $1.39 million, with sales led by ON Collaborative. Homes range in size from 1,242 to 1,958 square feet and offer two- and three-bedroom layouts.
“We’re so proud to be working on one of the most sought-after condo developments in the West Loop,” says David Wolf, president of ON Collaborative. “It’s impossible to not see the value of 1400 Monroe, especially in the mid-range luxury market that families and young buyers are seeking.”
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.