1000M, the 74-story, super-luxury high-rise, designed by Helmut Jahn with interiors by Kara Mann, has been the best-selling condominium development in downtown Chicago since launching sales last October.
The 323-unit building, located at 1000 S. Michigan Avenue, across from Grant Park, has paced the new-construction condo market throughout the fourth quarter of 2017 and first quarter of 2018, logging 38 contracts, or roughly a third of all new development sales downtown, noted @properties, the exclusive sales firm for the building.
1000M’s sales are more than double the next fastest-selling development, the 94-story Vista Tower, and represent approximately 34 percent of all development sales downtown. The figures are based on data from two sources: Midwest Real Estate Data, LLC, which operates the Chicagoland Multiple Listing Service, and the 4Q17 Downtown Chicago Condo Report compiled by Intregra Realty Resources.
New-construction inventory remains at historically low levels, while demand for luxury condominiums downtown has surged. Year to date, sales at the upper end of the market have significantly outperformed 2017, both in terms of the number of units sold and the price of those units. A number of recent sales have occurred between $1,300 and $1,400 per square foot, and the sale of the penthouse at 9 West Walton late last year topped $2,000 per square foot for raw space.
At 1000M, condominiums under contract range in price from approximately $600 per square foot to more than $1,000 per square foot, @properties noted.
“Virtually every contract we take at 1000M sets a record over what has previously sold south of Millennium Park. Certainly, at the high end of what we’ve sold, we are shattering pricing records for the area,” said John Goldsworthy of @properties, director of sales for 1000M.
“It shows that the market sees exceptional value in 1000M’s architecture, interiors and amenities, our unobstructed views, and our location on Michigan Avenue. We continue to work through a robust list of interested buyers, and we look forward to a strong spring and summer,” Goldsworthy added.
In addition to its fast start, 1000M has also won several awards, including Modern Luxury Interiors’ Best New Development of 2018 and the 2018 Gold Award for Best Presentation Center from the National Association of Home Builders.
1000M is anticipated to break ground in 2019 and be completed by 2022.
Photos courtesy of Millerhare
The spas at Fifty Third and Eighth, 50 West, 1000M and The Grand View at Skyview Park offer guests steam rooms, experiential showers, fitness center access and specialty treatments.
Photo courtesy of Millerhare
With self care being top of mind in 2018, here are some of the best residential spas for #selfcaresunday, a weekly ritual for resetting and treating oneself before the week ahead.
Manhattan luxury condo Fifty Third and Eighth recently completed its residents-only sauna.
For some real “me time” any day of the week, Fifty Third and Eighth’s spa offers a peaceful refuge in the heart of Manhattan. Residents can start their #selfcaresundays by taking a walk through the secluded garden.
After a morning stroll, residents can head over to the fitness center for a solid sweat session, then unwind in the personal sauna or steam room before ending the day doing face masks in their spacious two-bedroom residence.
Photos courtesy of Gotham
The downtown tower 50 West features a full-floor Water Club in the lower level that includes a 60-foot swimming pool, a cedar-lined sauna, marble steam room and an experiential shower. The experiential shower allows a variable of water pressures, the sounds of thunder and lightning and the aroma of impending rain. The showers are capable of simulating the sounds of a “summer thunderstorm in Colorado” or a “tropical rainforest.” The showers are a good space for residents to relax their muscles and relieve any pain, swelling or stiffness from working out at the gym.
Photo courtesy of Qualls Benson
1000M’s luxurious spa will provide the opportunity for effortless relaxation and pampering without having to venture into the brutal weather that can sometimes be experienced in Chicago, with multiple options for treatment and wellness right in the building. Among the many features of the Level 11 Spa are ice therapy, which can be used in a cryotherapy routine, and a Himalayan salt room, which in addition to relaxing your mind and body can help clear pollens, viruses, toxins and other pollutants from the body.
Photo courtesy of Millerhare
At The Grand at Skyview Park in Flushing, residents have access to The Grand Club, an onsite health and wellness space offering full-service spa services and treatment rooms with on-site staff.
Spa-goers can finish off a relaxing day at the spa with a unique experience shower, equipped with multiple misters and body sprays including a 24-inch shower head with various flow settings and a unique variety of multi-temperature water sequences with soothing chromotherapy, relaxing acoustics and rejuvenating aroma. Chromotherapy, or color therapy, directs colored lights on acupressure points focusing on stimulating the healing energy that naturally occurs within the human body.
Photo courtesy of Thanassi Karageorgiou
This 74-story luxury tower continues its celebration of Chicago culture with the hiring of Kara Mann, the founder and creative director of KARA MANN.
By Alyssa Gautieri
Real estate developers Time Equities (TEI), JK Equities (JKE) and Oak Capitals (Oak), have named Kann as the interior designer and interior architect of 1000M. As interior designer, Mann will design the development’s interior, finish selections for all 323 residences and hand-select the property’s amenities.
“We are extremely proud and excited to have Kara as the interior designer of 1000M,” said Francis Greenburger, chairman of Time Equities. “As a rising star in the design industry, Kara brings a sophisticated edge to all the layouts, finishes and amenity spaces, which truly align with our vision for the project. She will be a key partner in our seeking beautiful design that will help shape this iconic building, which will be one of the tallest in Chicago and one that will forever help define the city’s skyline.”
Previously, Mann worked on luxury residences, hospitality projects and high-end retail. Taking her experience to 1000M, Mann will ensure that each residence features natural wood floors, custom cabinetry and more. Master bathrooms will offer over-sized showers and ‘wet rooms’ complete with large tubs. Higher-level residences will also feature extra-large balconies.
In addition to designing the interiors, Mann will design more than 40,000 square feet of indoor and outdoor amenity space.
“1000M is a truly special project, not only for the city of Chicago, but for my career as well,” says Mann. “1000M is a seamless display of creating an environment that combines art and design, and creates a strong relationship between the exterior and interior. I am determined to set a new bar in Chicago for style, comfort, functionality, and ultimately — beauty.”
Sales for the project are expected to launch in the summer of 2017, with construction to start in 2018.
Photos courtesy of Millerhare