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Murphy Development's 1326 South Michigan Cleared To Rise
July 25, 2017
A rendering of 1326 South Michigan Ave., being developed by Murphy Development Group and CIM Group
Construction of 1326 South Michigan has been cleared to climb to its full height after the Chicago Department of Buildings issued a full construction permit for the 47-story building. The joint venture between Murphy Development Group and CIM Group landed $92M in construction financing in April.
Murphy first announced the development in 2015 and City Council approved the project a year later. 1326 South Michigan will include 500 apartments, 7,500 SF of retail and only 188 parking spots, as the development's location near the Roosevelt Road 'L' station qualifies it for transit-oriented development status.
According to the permit, construction is expected to cost over $119M. Murphy and CIM are targeting a mid-2019 delivery for the project.
