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Old Posted Oct 25, 2006, 12:13 PM
Chicago3rd Chicago3rd is offline
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Join Date: Jan 2003
Location: Cranston, Rhode Island
Posts: 8,681
Originally Posted by Rocket1
The article mentions that the hotel will be "5 star".

Should folks be concerned that too many luxury hotels might be in current development?

Luxury hotels are part of:

Mandarian Oriental

and now 560 N Fairbanks.

Are there really that many additional visitors to Chicago looking to spend $500+/night on a hotel room?

Here is the parking lot. I have a diggity dog somewhere just need to find it...if you look real close along the top of the cars in the parking lot you can see a one story building with a little read roof....that is it. This is looking West across Fairbanks.

And 355 will start soon.

No concern. It is all variable and market driven. Chicago is huge. The baby boom retirement "just" started. Baby boomers weren't just 1 or 2 is like 15 years...and they are all going into the same...time to leave the old homested mood. It could slow down. But we are looking at buildings that will not become to market for 2-3 years.....

If the banking industry is really this stupid, as some think, then we will have a huge crash like the 1930's. But I doubt it.
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Last edited by Chicago3rd; Oct 25, 2006 at 12:23 PM.