June 4, 2019
The first residents are moving in at CIM Group and Murphy Development Group’s 500-unit Paragon rental tower in the South Loop. The developers have received a certificate of occupancy for the 47-story apartment property’s first 25 floors, which also include 7,500 square feet of ground-floor retail.
Interior finishing work is being completed for units on the remaining 22 floors. Work on those units is anticipated to be complete in August.
All 500 apartments will feature floor-to-ceiling windows and a smart home system by IOTAS, integrating smart switches and outlets, motion and door sensors and smart thermostats by Nest.
Built on the former site of a parking lot, the Paragon is one of a number of apartment high-rises that are being added to the South Loop skyline. Others include Crescent Heights’ NEMA Chicago, which will reportedly be the city’s tallest rental building, and Oxford Capital Group’s recently-opened Essex on the Park.
The Connect Apartments Conference will take place June 20, 2019 in Los Angeles. For more information, or to register, click here.
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