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CMK Bets Big on the South Loop

Chicago Multifamily

A venture led by residential developer Colin Kihnke paid around $26M for one of the largest development sites downtown (north of Roosevelt on the east side of the Chicago River) after paying almost $8M for a parcel next door, Crain’s Chicago Business reports.

It’s just adding to the South Loop’s snowball as the next residential hot spot, with other projects already landed or on the way from AMLI, JDL and Michigan Avenue Real Estate Group. (Not to mention the Roosevelt Collection, pictured.) CMK’s new property is zoned for more than 1,000 residential units, so it will be interesting to see what the condo guru has planned.