Multifamily N Illinois

The Paragon, a 500-unit apartment building in Chicago's South Loop, welcomes first residents

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The first residents have begun moving in at The Paragon, a 500-unit, 47-story apartment building at 1326 S. Michigan Avenue in Chicago. Tenants can now occupy the first 25 floors of the building and will start moving into the remaining 22 floors once interior finishing work is completed in August. The property also includes 7,500 square feet of ground floor retail space.

Developed by Los Angeles based-CIM Group and Chicago-based Murphy Development Group, The Paragon’s distinctive faceted glass-clad exterior is a striking addition to the Chicago skyline rising in the growing South Loop area. The contemporary residences are offered in a variety of floor plans ranging from studios to three-bedroom units, all featuring floor-to-ceiling windows providing sweeping views of Lake Michigan, Grant Park and beyond.

Residences feature modern fixtures and finishes, stainless steel kitchen appliances, wood laminate flooring and a smart home experience by IOTAS, which integrates smart switches and outlets, motion and door sensors and smart thermostats by Nest. On-site amenities include a resort-style pool with cabanas, a top-floor gym, a spacious co-working area and a dog run. The neighborhood offers a mix of outdoor recreation such as the nearby lakefront trail and Grant Park as well as a wide variety of shopping, dining and entertainment. The Paragon is just blocks from a CTA station providing easy public transit connections.

The Paragon was designed by Solomon Cordwell Buenz and built by Walsh Construction. Bozzuto is handling property management duties. Besides The Paragon, CIM’s other Chicago-area assets include Block 37 and Marquee at Block 37, the Tribune Tower West redevelopment and Tribune Tower East development, Fifteen Fifty on the Park condominiums and 425 Financial Place office complex.