CHICAGO--(BUSINESS WIRE)--CIM Group and Golub & Company today announced the sale of a 40-story, 397-unit luxury multifamily residential tower at 1001 South State Street in Chicago’s South Loop neighborhood. The companies jointly developed the 440-foot tall building at the corner of 9th and State Streets and delivered it for occupancy in August 2016.
CIM Group and Golub & Company brought contemporary residences offering an array of technology-focused amenities to the South Loop, one of Chicago’s fastest-growing and desirable neighborhoods. 1001 South State features a communal workspace where residents have access to a state-of-the-art CNC milling machine and a 3D Laser Printer, equipment that appeal to many in the technology start-up and related businesses. The property also provides a co-working space with an interactive whiteboard technology presentation system, common areas outfitted with USB stations, and a shared media and game room.
1001 South State also offers residents abundant outdoor gathering and recreation options including an outdoor pool and sundeck, an outdoor hot tub, a terrace with cabanas and grilling stations, and a birch grove. Residents also have access to a fitness center, a specialty yoga studio, a conference room, a bike share and repair room, a dog run and pet grooming area, a resident lounge, and services including automated package pick-up and dry cleaning. Complimentary Wi-Fi is available throughout common areas and adding to the buildings top-tier connectivity, units are fitted with smart phone-compatible thermostats and USB ports in the kitchens and bedrooms.
CIM and Golub continue to bring community-focused mixed-use properties to Chicago, including luxury condominiums at Tribune Tower and 1550 on the Park. The companies together also own and operate the 625 North Michigan Avenue office building.
ABOUT CIM GROUP
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $56 billion of projects in communities across the Americas on behalf of its own account and its partners, co-investors and shareholders. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and asset management experience in urban real assets, net-lease assets and other associated credit strategies. CIM seeks to maximize its disciplined approach and extensive in-house expertise by creating value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.
ABOUT GOLUB & COMPANY LLC
Since its founding more than 55 years ago, with three generations of professionals working in the business, Chicago-based Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It’s a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties, including 45,000 residential units, valued in excess of $10 billion located across the United States and internationally.
Access more information by visiting www.golubandcompany.com.