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-   -   CHICAGO | One South Halsted | 495 FT | 44 FLOORS (http://forum.skyscraperpage.com/showthread.php?t=226873)

BVictor1 Feb 4, 2017 8:10 PM

Quote:

Originally Posted by SamInTheLoop (Post 7699908)
In yesterday's article in Crain's about the developers landing their loan from Bank of the Ozarks, Fifield's role was discussed - they actually have no equity in the development, and to me it sounds as if they are developing the project for a fee from the actual owners, who presumably may not have been able to pull this project off as developer themselves.....

Sounds pretty smart.

They'll probably sell the tower after completion and cash out.

http://www.chicagotribune.com/busine...202-story.html

Construction begins on tallest tower west of Kennedy Expressway

Corilyn Shropshire
Contact Reporter
Chicago Tribune

Quote:

Construction is underway on a luxury skyscraper that will be the tallest building in the city west of the Kennedy Expressway.

Co-developers Fifield Cos. and Skokie-based F&F Realty recently broke ground on a 44-story, 490-foot-tall tower that will bring 492 apartments and 375 parking spaces to the city's West Town neighborhood, near Greektown.

Mark Lecocq, a senior vice president at Fifield, said a name for the building, on Madison Street just east of Halsted Street, had not been decided. The completed building is expected to be valued at roughly $280 million, he said.

Rents for the apartments, which will range from studios to three-bedroom units, haven't been decided and will be based on the going market rates in 2019 when the building is expected to be completed. The building also will include 10,200 square feet of retail.

SolarWind Feb 4, 2017 10:14 PM

February 3, 2017







625 W Adams, in the background, on the right hand side

BVictor1 Feb 4, 2017 11:18 PM

Bye-bye parking lot.

left of center Feb 5, 2017 2:36 AM

And another Greektown parking lot bites the dust. I remember Arkadia tower being built several years ago and wondering when this lot would finally meet the same fate.

Now if we can only get Walgreens to sell their full block property...

KWILLSKYLINE Feb 5, 2017 7:08 AM

Solar...that presidential towers shot is amazing. Keep up the good work.

the urban politician Feb 5, 2017 1:37 PM

That view of the skyline is about to be gone forever

danielschell Feb 5, 2017 1:53 PM

Live

https://c1.staticflickr.com/1/302/31...9d2286c3_c.jpg

SamInTheLoop Feb 6, 2017 4:02 PM

Quote:

Originally Posted by BVictor1 (Post 7700869)
Sounds pretty smart.

They'll probably sell the tower after completion and cash out.

http://www.chicagotribune.com/busine...202-story.html

Construction begins on tallest tower west of Kennedy Expressway

Corilyn Shropshire
Contact Reporter
Chicago Tribune


No idea what the actual owner will do once the project delivers.....I don't know that we have too much of a track record on F&F to suggest whether they are likely to be a long-term holder or a build and seller. If Fifield were the owner, or had a substantial ownership stake, than yes, I'd be inclined to think that if the market were right, they would look to sell. That's one major key in the end - market conditions upon delivery. A lot can change in 2-3 years. Even if it's a preferred build and sell player, when the market works against you, often if you can, you hold....

r18tdi Feb 6, 2017 5:03 PM

Quote:

Originally Posted by danielschell (Post 7701469)

It's an OK location for a new development, but sort of in a food desert. ;)

LouisVanDerWright Feb 6, 2017 11:58 PM

Quote:

Originally Posted by r18tdi (Post 7702372)
It's an OK location for a new development, but sort of in a food desert. ;)

Don't worry, I heard they are building a McDonalds a few blocks away.

danielschell Feb 9, 2017 3:32 AM

..........

Kumdogmillionaire Feb 9, 2017 3:38 AM

Wrong thread Dan haha

danielschell Feb 9, 2017 5:25 AM

Quote:

Originally Posted by Kumdogmillionaire (Post 7706242)
Wrong thread Dan haha

I'm losin' it

Mr Roboto Feb 9, 2017 7:33 PM

I see it got added to the boom rundown thread list on page 1, but it is listed as 'under construction'

Steely Dan Feb 9, 2017 7:49 PM

Quote:

Originally Posted by Mr Roboto (Post 7706915)
I see it got added to the boom rundown thread list on page 1, but it is listed as 'under construction'

that's a mistake, i'll change it right now.

danielschell Feb 13, 2017 2:25 PM

Bringing in the big toys this morning.

https://pbs.twimg.com/media/C4jTNFwW8AAsBoh.jpg

https://pbs.twimg.com/media/C4jTN5oWcAIQUaP.jpg

Steely Dan Feb 13, 2017 2:30 PM

^ it looks like we'll be able to properly move thIs to U/C very soon.

as always, thanks for the pics.

KWILLSKYLINE Feb 13, 2017 4:49 PM

hell yeah dan, thanks for the update! I see dancing nanners coming soon.

Skyguy_7 Feb 13, 2017 5:16 PM

Great update Schell. Hope you don't mind, but I sent the top pic to my buddy at Stevenson, so you might see it up on their next billboard. :cheers:

jc5680 Feb 13, 2017 5:29 PM

Not for nothing, but Stevenson can't use the photo unless Dan grants permission. If they are going to use it on a billboard (or any other brand promotion media), they should pay for the rights.


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