Power Construction has just started construction on a 34-story vertical expansion of the four-story mall across the street from the Macy's department store on State Street. With 690 apartments, Block 37 Apartments is the biggest apartment tower the Loop has seen in decades. Solomon Cordwell Buenz is the architect. Apartment projects have been the real estate development industry's investment of choice in recent years, as professionals and empty-nesters plunk down big sums to live in lavish new buildings close to jobs, nightlife and other amenities.
CIM Group, the Los Angeles-based firm who bought the property in 2012 said in a statement, “The residential tower is the last phase of the development program for Block Thirty Seven and helps to fulfill the city's long-term vision for this pivotal State Street location. The tower, positioned on the northern portion of the block, will offer sweeping city views, a fifth-floor amenity deck including an outdoor pool and spa, a rooftop spa and fitness center, and other top-tier resident amenities and services.”