Park 1000

• Developer: Renaissant Development Group
• Capacity: 40 stories, 350 condo units
• Location: 1000 South Michigan Ave. in the South Loop
• Pricing: 1-bedrooms for $299,000, two-bedrooms for $601,000+, three-bedrooms for $995,000+, penthouses from $1,600,000
• Features: Fitness center w/ indoor pool and golf simulator

Park 1000 is one of the largest new developments in the South Loop. Renaissant Development Group is the developer behind the luxury condominiums located at 1000 South Michigan Avenue. The Oak Brook, IL-based company currently has more than 1,900 units under development around the city, at a total estimated value of $1 billion.

A total of 350 condominiums are available at in the 40-story building. Buyers can choose from a number of floor plans. One, two, and three-bedroom condominiums are available. One-bedroom units offer a den, balcony, and 1.5 bathrooms, with total living space starting at 1,273 square feet.

The largest units at Park 1000 are the three-bedroom penthouses, which offer 3.5 baths, a den, and terrace with a total of 4,659 square feet of living space.

Prices for the condominiums at Park 1000 start at $299,000 for a one-bedroom unit, $601,000 for a two-bedroom, and $995,000 for a three-bedroom. Penthouses are priced from $1.6 million.

The development offers an impressive list of amenities. Residents looking for an active lifestyle can enjoy the fitness center, which includes an indoor pool. A golf simulator is also available for residents to relax and practice their swing without leaving home.

Units come with hardwood floors in the main living areas, carpeted bedrooms, and private balconies with excellent views of the downtown Chicago skyline, Lake Michigan and Grant Park.

Kitchens come standard with GE appliances, granite countertops, and custom cabinets.

Residents of Park 1000 will enjoy living in one of the hottest neighborhoods in downtown Chicago. Grant Park is steps away, with many of the newest high-rise towers in the city under construction along the south wall of the park.

Commuters will love the easy walk to the downtown Chicago business district. There are also several El train and bus connections to other parts of Chicago within steps of Park 1000.

Take in some culture at the Museum Campus or go out for a night on the town to one of the many gourmet restaurants in the neighborhood.

If you’re considering a condominium in the Loop, you should keep up to date with the latest news coming out of the real estate market in the area.

According to the Chicago Association of Realtors, sales in the Loop continue to be strong as demand for units in the area increases. A total of 401 units were sold around the Chicago Loop during the third quarter, an 80 percent increase from the same period last year.

Prices continue to rise in the area. The average sales price for a condominium in the Loop was up 39 percent during the third quarter, the largest increase for any neighborhood.

Investors and well-heeled residents continue to look for condos in the Chicago Loop, due to its unbeatable location and the many luxury condominiums offered on the market.

An increase in rents around downtown Chicago and lower vacancy rates are also bolstering prices in the area. The high demand by both renters and buyers should protect condo owners in the Loop from any large drop in prices.

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