Forget the condos. The skyscraper designed by Helmut Jahn is accepted for 738 apartments.

Helmut Jahn’s tallest building in Chicago may soon resume construction after a series of setbacks that stalled the South Michigan Avenue project, including the famous architect’s death in a bicycle accident in May.

Revised plans for the 1,000-meter residential tower were approved by the Chicago Plan Commission on Thursday.

If it is approved soon by the city council, as planned, construction of the 73-story project could resume as soon as this fall, according to the promoters. Work on the building was stopped more than a year ago.

At the latest, construction is expected to resume by next spring, Time Equities chief executive officer Francis Greenburger said in an emailed statement. The statement did not provide details on the funding.

The requested zoning change would allow Time Equities, JK Equities and Oak Capitals to relocate the building located at 1000 S. Michigan Ave. in apartments, instead of condominiums.

“The pandemic period has been difficult for everyone,” Greenburger said in the statement. “We have faced these challenges and changing market conditions by responsibly adjusting our business plan to achieve the best end result.

The changes would include reducing the height of the building to 73 stories and 805 feet high. This is a reduction of one story and 27 feet from the previous plan. The new plan would allow up to 738 apartments, an increase of 217 units over the condo design.

“Market experts have told us that comparable high-end luxury buildings like 1000M are in high demand and rent out quickly,” Greenburger said in the release.

The ambitious plan had been in the works for years when construction started at the end of 2019. At the time, it was the largest single-unit condominium project to open in Chicago since the Great Recession.

In early 2020, with only part of the foundation built, work was halted due to what the developers described as security concerns linked to the public health crisis.

Last July, the developers told the Tribune that construction had been halted indefinitely because their construction lender, Goldman Sachs, had stopped funding the $ 470 million project due to concerns over the real estate market.

At the end of last year, developers the focus has shifted to the apartments, which are easier to finance because they do not require prior financial commitment from residents.

As the 1000M plan turned into apartments, the designer of the skyscraper – the original German Jahn, who gained international fame as an architect based in Chicago – died in may after being struck by several cars while cycling in the western suburbs. He was 81 years old.

Immediately after Jahn’s death, the developers of 1000M sworn to complete the tower near the south end of Grant Park.

The restarted 1000M would create more than 2,300 construction jobs and 26 full-time jobs, according to city documents on the project.

The developers would create 23 affordable units in the tower, contribute $ 828,000 to the city’s affordable housing fund, and contribute approximately $ 407,000 to the Neighborhood Opportunity Fund.

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