A joint venture consisting of K Giles LLC and the multifamily investment and development arm of CA Ventures, CA Residential LLC, has broken ground on a 320-unit, mixed-use development in Chicago’s South Loop.
The 29-story transit-oriented apartment building is scheduled for May 2018 delivery at 1136 S. Wabash Avenue, just feet away from the CTA Roosevelt station. Managed by The Habitat Company, the building will include 320 luxury apartments, 5,000 square feet of street-level retail and parking for 141 vehicles.
“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.”
Building amenities will feature 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.
Lendlease, one of the world’s largest development, property, infrastructure and construction management firms, will oversee construction of the Solomon Cordwell Buenz-designed tower.