The Laramar Group has expanded its multifamily portfolio with the purchase of Eleven Thirty, a 656-unit high-rise apartment community at 1130 S. Michigan Ave. in Chicago. The transaction gives the firm control of a prominent residential tower along Michigan Avenue, one of the city’s most visible residential corridors.
Eleven Thirty was originally constructed in 1967 and rises 43 stories above Chicago’s lakefront. The building is described as an iconic presence on Michigan Avenue, offering residents high-rise views over Grant Park and Lake Michigan. Its location on the edge of the park system places it among the city’s most established residential towers facing Grant Park.
The property is situated in Chicago’s South Loop neighborhood, an area that has seen a long-running concentration of residential, cultural and entertainment uses. Residents at Eleven Thirty are steps from the Museum Campus, Millennium Park and the Lakefront Trail, positioning the tower within a short walk of several of Chicago’s most-visited civic and recreational destinations.
The building’s location also links residents to emerging entertainment investment in the immediate area, including the planned $750 million, 22,000-seat Chicago Fire Stadium. Access to such amenities underscores the property’s setting within a dense, experience-focused corridor that blends residential living with proximity to sports, culture and open space.
According to Laramar, Eleven Thirty offers a substantial resident amenity package and unit layouts designed to capitalize on its views and location. The community includes studio, one-bedroom and two-bedroom apartments, providing a range of unit types aimed at a broad renter base. While specific interior finishes and shared spaces were not detailed, the property’s amenity offering was cited as a core feature of the building’s appeal.
Connectivity to employment is another component of the asset’s positioning. The community is reported to be within a 15-minute walk of 100 million square feet of CBD office space, placing residents within walking distance of a large concentration of downtown jobs. In addition, the property is near a CTA station served by three train lines and six bus routes, offering multiple public transit options for commuting and regional access.
Commenting on the acquisition, Ben Slad, Chief Investment Officer for The Laramar Group, noted that Eleven Thirty combines a well-designed building with extensive views, a significant amenity package and thoughtfully planned units. He emphasized that the property benefits from a location on Michigan Avenue that, in his view, cannot be replicated in today’s market.
