Don't know of any now that take 1911 mags but I'd recommend the HK USC .45 carbine as an alternative...It's one of my favorite pistol caliber rifles but it does take the proprietary HK magazines.......Very accurate for a .45 carbine. Fun to shoot too. Always someone wondering what it is when I go to the range though.
I just built a nice 45 acp carbine,got a 45 acp upper from olympic arms. put together a cav arms lower with a hahn adapter. it uses unaltered grease gun 30 round mags. fired 200 rounds thru it so far not one problem.
I have a Marlin .45 Camp Carbine. It comes with a 7 round mag. that also fits in a 1911. They also made a 9mm carbine. I bought the .45 when it first came out. I think they've discontinued it, but I don't know why. Let me tell you, this is one of my favorite guns to shoot. The .45 in a rifle has a very small recoil and I've never had it jam with the original mag. I also bought 3 15 round mags so I didn't have to spend time to reload. I did have a couple of jams with one of the 15 round mags, but otherwise a very fun gun. I remember reading that some police agencies had them because the mag was interchangealbe with the 1911. Also, +P rounds weren't recommended. The Doctor.
... Several companies offer the ability to convert your standard 1911 into a carbine.
This one we have in the shop. My 'Smith got the conversion kit in trade for some project someone wanted to do. He also had an older model Kimber that wasn't doing much, so he built it up. It looks a little hokey, but it is actually pretty solid. I have not fired it, so I can't say one way or the other, but he says it's fun for the kids when they go to the range.
Sportsman's Guide has a kit that adds a stock and a 16" barrel to your 1911. They also have a 50 round drum that sticks out under the grip. I've thought about buying a cheap RIA 1911 and these add-ons to make one cool carbine-style firearm!
Or, get an sbr tax stamp and use the shoulder stock without the long barrel (or cut the barrel down to 12" or so). Now THAT would be a cool little 1911.
IF you want something with better ballistics than the .45 and cheaper than any other carbine, look into the HiPoint .40 cal carbine. It's used by several PD's around the country, and it's VERY accurate. Sells for about $200 new.
I have a 45 carbine that is a replica of a Thompson that was made by Apache Arms of Tempe, AZ. It was made in 1947. I have the original sales brochure and owner's manual along with a letter to the IRS dated 1962 asking if this is a legal weapon to own. The IRS handled gun controll until the ATF took over so this is an interesting letter.
I would like to know more about this weapon since I have been searching the web about it for over 6 years now with no results. Perhaps you can assist me in learning more about it?