January 30. 2013 11:00AM - Last modified: January 30. 2013 11:50AM

Developer plans South Loop apartment tower

CMK Cos. is stepping into the downtown apartment boom with one leg still knee-deep in the condo market.

The Chicago-based developer plans to build 268 apartments on the site of an aborted South Loop condominium project as it continues to chip away at a big pile of unsold condos in its own high-rise a couple blocks south of the Willis Tower.

CMK is joining the herd of developers jumping into the hot downtown apartment market, attracted by rising occupancies and record rents. The question is whether the firm will be among those to secure a construction loan for its project, a $60-million, 25-story tower at 1333 S. Wabash Ave.

Read more in Crain's Chicago Business.