CIM Group and Murphy Development Group Opens 500-Unit Apartment Building in Chicago’s South Loop

CHICAGO, IL – CIM Group announced that residents are moving in at The Paragon, a recently completed 500-unit, 47-story apartment building with 7,500 square feet of ground floor retail space at 1326 S. Michigan Avenue in Chicago. The development team of CIM Group and Murphy Development Group received a Certificate of Occupancy for the first 25 floors of the building. Interior finishing work is being completed for units on the remaining 22 floors, which is anticipated to be complete in August.

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.

Residents can enjoy a variety of on-site amenities including 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.

Besides The Paragon, CIM’s other Chicago area assets include Block 37, the 275,000-square-foot, five-level retail center in Chicago’s Loop; Marquee at Block 37, the 38-story, 690-unit residential apartment tower on top of Block 37; Tribune Tower West redevelopment and Tribune Tower East development; Fifteen Fifty on the Park condominiums, 425 Financial Place office complex; 1241 and 1647 N. Milwaukee Avenue; Midway Technology Centre; and 725 S. Wells Data Center.

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