Posted Oct 8, 2008, 3:12 PM
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Registered
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Join Date: Mar 2006
Location: Chicago - every nook and cranny
Posts: 4,628
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Uh Oh
I think this is the parcel in question... too bad.
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Developer scraps Streeterville condo project, sells site
By Thomas A. Corfman, Oct. 08, 2008
http://www.chicagorealestatedaily.co...ws.pl?id=31317
(Crain’s) — Developer Centrum Properties Inc. has killed a proposed 41-story condominium building in Streeterville, selling the site to North Shore developer David Hovey, who plans to eventually build an apartment tower there.
And in a dance of developers, another site three blocks east is being put on the market by Draper & Kramer Inc. after talks fell apart to sell that site to Equity Residential, an apartment real estate investment trust.
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Meanwhile, in another sign of the dramatic challenges facing developers, Draper & Kramer has hired Chicago-based Jones Lang LaSalle Inc. to market a site at 245 E. Ohio St. Just this summer, the developer was planning to build a high-rise with 220 condos and a 220-room hotel.
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"Every building is a landmark until proven otherwise." - Harry Mohr Weese
"I often say, 'Look, see, enjoy, and love.' It's a long way from looking to loving, but it's worth the effort." - Walter Andrew Netsch Jr.
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