CHICAGO | Highrise Projects & Construction, v7 - Page 99

spyguy · #**1961** Posted **Dec 9, 2015, 5:19 PM**

Quote:

Originally Posted by VKChaz

From the article, sounds as though the facade may be lost. I was hoping it was being restored.

To me it sounds like they are talking about only the additional floors:

Quote:

Rutledge said Oxford still plans to build four stories onto the building but is unsure whether there will be a rooftop bar or whether the building's facade will have a classic or modern look.

This was the previous plan:

Notyrview · #**1962** Posted **Dec 9, 2015, 5:20 PM**

Lol re the Conservatory Tower shyster. Great news about the leasing stuff.

SamInTheLoop · #**1963** Posted **Dec 9, 2015, 6:18 PM**

Quote:

Originally Posted by rlw777

I expect we will hear about another office building starting construction pretty soon.

Absolutely.

If anything, it's almost shocking that there is not at least one additional large office tower already under construction. I'd be further surprised if there are not at least a couple more large towers under construction by second half of 2016.....

Steely Dan · #**1964** Posted **Dec 9, 2015, 6:20 PM**

Quote:

Originally Posted by SamInTheLoop

If anything, it's almost shocking that there is not at least one additional large office tower already under construction.

to be fair, 151 N franklin is currently in site demo, so it could pop really soon.

r18tdi · #**1965** Posted **Dec 9, 2015, 6:46 PM**

Quote:

Originally Posted by Near North Resident

The SRO was bought and shut down by an investor, I would expect a condo conversion or something

Also, Glass is going up on the north side of 'NEXT' (chestnut & orleans)
what an ugly building!

Thanks for the info re: 167 N. Wells.

Next is looking pretty bad (well, even worse) with the glass going in. Are the ceilings like 7" or something?

VKChaz · #**1966** Posted **Dec 9, 2015, 7:09 PM**

Quote:

Originally Posted by spyguy

To me it sounds like they are talking about only the additional floors

Was wondering that. Thank you

Via Chicago · #**1967** Posted **Dec 9, 2015, 7:54 PM**

VKChaz · #**1968** Posted **Dec 9, 2015, 8:05 PM**

Quote:

Originally Posted by SamInTheLoop

If anything, it's almost shocking that there is not at least one additional large office tower already under construction.

Am curious, is there a target vacancy rate you have in mind that will help to pressure new construction forward? IIRC, the CBD rate was recently reported to be around 12.8%.

Jibba · #**1969** Posted **Dec 9, 2015, 8:06 PM**

^Vacancy of new or recently constructed class-A space would be the proper metric, IMO.

Quote:

Originally Posted by Via Chicago

im rather gutted that we're losing 209 west lake

http://www.urbanremainschicago.com/n...tion-imminent/

also, thats an incredibly depressing blog to peruse. its easy to get caught up in the development cycle, but we're losing a lot of our heritage and no one really seems to care

Not a huge loss, particularly for building whose facade is made out of the Dryvit of its day.

SolarWind · #**1970** Posted **Dec 9, 2015, 8:21 PM**

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SolarWind · #**1971** Posted **Dec 9, 2015, 8:22 PM**

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Via Chicago · #**1972** Posted **Dec 9, 2015, 8:22 PM**

Quote:

Originally Posted by Jibba

Not a huge loss, particularly for building whose facade is made out of the Dryvit of its day.

again, how flippantly one of the only remaining post fire buildings in the loop can be dismissed is beyond me

rlw777 · #**1973** Posted **Dec 9, 2015, 8:22 PM**

Quote:

Originally Posted by VKChaz

Am curious, is there a target vacancy rate you have in mind that will help to pressure new construction forward? IIRC, the CBD rate was recently reported to be around 12.8%.

I can't answer for Sam but

According to Crain's Navigant just took 110,000 sq ft at 150 N riverside and that's the last block of space of that size in current construction projects. Meaning there might be more space than that left but no space that isn't broken up by other occupied floors.

Usually a big office development needs to have a large tenant on board to get financing for construction. With only a small amount of broken up space left in current projects any large tenant looking for new offices is much more likely to sign on to a new development.

SolarWind · #**1974** Posted **Dec 9, 2015, 8:23 PM**

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SolarWind · #**1977** Posted **Dec 9, 2015, 8:30 PM**

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SolarWind · #**1978** Posted **Dec 9, 2015, 8:37 PM**

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SolarWind · #**1979** Posted **Dec 9, 2015, 8:38 PM**

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SolarWind · #**1980** Posted **Dec 9, 2015, 8:39 PM**

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