South Loop development is rapidly heating up

Crain’s Chicago Real Estate Daily is reporting that a group led by CMK Companies has agreed to acquire a 5.1-acre site, pictured above, just north of Roosevelt Rd in the South Loop. The site is immediately south of a 1.8-acre site recently acquired by a CMK venture.

The sites will benefit from the new Wells-Wentworth connector which is slated for completion late next year. The project will provide improved access from downtown to Ping Tom Park and Chinatown and enhance the development potential of the large site just south of Roosevelt Rd.

The CMK sites are immediately west of the Roosevelt Collection, a new 86-unit condo development, the new British School, a 469-unit apartment tower under construction by JDL Development and the new 398-unit AMLI Lofts, which is in lease-up. Golub & Co has begun construction of a 35-story, 392-unit apartment tower a few blocks east at 1001 S State, and a few blocks northeast a 140-unit apartment tower has been announced at Clark and Harrison.

CMK ventures are nearing completion of a 144-unit condo project at 1345 WAbash in a more developed part of the South Loop, and are planning a 330-unit apartment tower next door at 1333 S Wabash.

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