HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > Skyscraper & Highrise Construction


1000M in the SkyscraperPage Database

Building Data Page   • Comparison Diagram   • Chicago Skyscraper Diagram

Map Location
Chicago Projects & Construction Forum

Reply

 
Thread Tools Display Modes
     
     
  #1581  
Old Posted Apr 25, 2020, 3:23 PM
bhawk66 bhawk66 is online now
Registered User
 
Join Date: Mar 2019
Posts: 316
Quote:
Originally Posted by Bonsai Tree View Post
No, because the term "cycle" in construction is based off the idea of an economic cycle where there are peaks and troughs that repeat one after the other. Yes, a skyscraper can start construction in the middle of a trough (or a recession like the one we are in now) it's just a lot more difficult. To be built outside of a cycle would break the rules of economics. A cycle is not just a period of economic expansion. We know a cycle "ends" when a period of economic expansion ends and a recession begins, which starts the next cycle. Hoped that helped.

You lost me at "like the one we're in now"

This is a big burp. We'll be fine.
Reply With Quote
     
     
  #1582  
Old Posted Apr 25, 2020, 3:54 PM
maru2501's Avatar
maru2501 maru2501 is online now
Registered User
 
Join Date: Oct 2015
Location: chicago
Posts: 1,603
something will rise eventually
Reply With Quote
     
     
  #1583  
Old Posted Apr 26, 2020, 6:48 PM
Kumdogmillionaire's Avatar
Kumdogmillionaire Kumdogmillionaire is offline
Development Shill
 
Join Date: Nov 2015
Location: Chicago
Posts: 1,061
Quote:
Originally Posted by bhawk66 View Post
You lost me at "like the one we're in now"

This is a big burp. We'll be fine.
25 million unemployed sure sounds like a burp... smh
__________________
For you - Bane
Reply With Quote
     
     
  #1584  
Old Posted Apr 26, 2020, 7:11 PM
Zapatan's Avatar
Zapatan Zapatan is offline
DENNAB
 
Join Date: Aug 2009
Location: NA - Europe
Posts: 4,353
Quote:
Originally Posted by Kumdogmillionaire View Post
25 million unemployed sure sounds like a burp... smh
I'd note the type of people buying condos in a building like this are less likely to be affected by an economic downturn (although they potentially still could be). The people hit hardest are poorer people.
Reply With Quote
     
     
  #1585  
Old Posted Apr 28, 2020, 4:06 AM
Kumdogmillionaire's Avatar
Kumdogmillionaire Kumdogmillionaire is offline
Development Shill
 
Join Date: Nov 2015
Location: Chicago
Posts: 1,061
Quote:
Originally Posted by Zapatan View Post
I'd note the type of people buying condos in a building like this are less likely to be affected by an economic downturn (although they potentially still could be). The people hit hardest are poorer people.
Small businesses have been hit hard and many millionaires are small business owners.
__________________
For you - Bane
Reply With Quote
     
     
  #1586  
Old Posted Apr 28, 2020, 4:29 PM
Zapatan's Avatar
Zapatan Zapatan is offline
DENNAB
 
Join Date: Aug 2009
Location: NA - Europe
Posts: 4,353
Quote:
Originally Posted by Kumdogmillionaire View Post
Small businesses have been hit hard and many millionaires are small business owners.
Yea, a good chunk of them may be, but hopefully most of the buyers are wealthy by other means and unaffected.

Other luxury high rises like One Chicago and Cirrus seem unfazed
Reply With Quote
     
     
  #1587  
Old Posted Apr 29, 2020, 2:14 AM
Kumdogmillionaire's Avatar
Kumdogmillionaire Kumdogmillionaire is offline
Development Shill
 
Join Date: Nov 2015
Location: Chicago
Posts: 1,061
Quote:
Originally Posted by Zapatan View Post
Yea, a good chunk of them may be, but hopefully most of the buyers are wealthy by other means and unaffected.

Other luxury high rises like One Chicago and Cirrus seem unfazed
Both of those projects were effectively funded completely in advance of shovels in the ground. They didn't have the same conditions of needing to hit a certain number of sails before digging/construction started, so comparing them doesn't work. Plus, both can be buoyed by their massive rental components.
__________________
For you - Bane
Reply With Quote
     
     
  #1588  
Old Posted Apr 29, 2020, 5:39 PM
pianowizard pianowizard is online now
Registered User
 
Join Date: Jun 2005
Location: Michigan, US
Posts: 394
Quote:
Originally Posted by Zapatan View Post
Yea, a good chunk of them may be, but hopefully most of the buyers are wealthy by other means
...such as the stock market, which has suffered great losses as well.

Quote:
Originally Posted by Kumdogmillionaire View Post
Plus, both can be buoyed by their massive rental components.
I suppose 1000M could convert some condos to rental apartments, if financially necessary. That would be better than abandoning the project altogether.
Reply With Quote
     
     
  #1589  
Old Posted May 4, 2020, 6:12 PM
CrazyCres's Avatar
CrazyCres CrazyCres is online now
Registered User
 
Join Date: Jan 2020
Posts: 151
Any activity on-site?
Reply With Quote
     
     
  #1590  
Old Posted May 4, 2020, 9:49 PM
Zapatan's Avatar
Zapatan Zapatan is offline
DENNAB
 
Join Date: Aug 2009
Location: NA - Europe
Posts: 4,353
Quote:
Both of those projects were effectively funded completely in advance of shovels in the ground. They didn't have the same conditions of needing to hit a certain number of sails before digging/construction started, so comparing them doesn't work. Plus, both can be buoyed by their massive rental components.
Yea, as previously mentioned 1000M should convert some of the units into rentals if need be.


Quote:
Originally Posted by pianowizard View Post
...such as the stock market, which has suffered great losses as well.
True but it will recover and already seems to be, and hopefully not crash terribly in the near future, you'd think the leasing management of 1000M would be flexible with people's deposits/contracts in order to not outright lose their money.
Reply With Quote
     
     
  #1591  
Old Posted May 5, 2020, 12:41 AM
Bombardier Bombardier is offline
Registered User
 
Join Date: Aug 2016
Location: Chicago, IL
Posts: 368
Quote:
Originally Posted by CrazyCres View Post
Any activity on-site?
No. I heard it's shut down to June 1st at a minimum. My guess is that this is not going to start back up any time soon.
Reply With Quote
     
     
  #1592  
Old Posted May 5, 2020, 12:47 AM
CrazyCres's Avatar
CrazyCres CrazyCres is online now
Registered User
 
Join Date: Jan 2020
Posts: 151
Quote:
Originally Posted by bombardier View Post
no. I heard it's shut down to june 1st at a minimum. My guess is that this is not going to start back up any time soon.
bruhhhhhhhhh
Reply With Quote
     
     
  #1593  
Old Posted May 5, 2020, 2:33 PM
skysoar skysoar is offline
Registered User
 
Join Date: Dec 2018
Posts: 136
I agree with much of what has been stated here about the present status of 1000M. But I would add it is very strange that there has been no official statement or news report with inside information concerning this project. Very strange....
Reply With Quote
     
     
  #1594  
Old Posted May 5, 2020, 4:02 PM
Bombardier Bombardier is offline
Registered User
 
Join Date: Aug 2016
Location: Chicago, IL
Posts: 368
it is not strange at all that a developer does not make an announcement that they have suspended construction activities. If you were trying to continue selling units in your building, you wouldn't be instilling much confidence if you made an announcement that you were stopping work on the project.
Reply With Quote
     
     
  #1595  
Old Posted May 5, 2020, 4:47 PM
skysoar skysoar is offline
Registered User
 
Join Date: Dec 2018
Posts: 136
Quote:
Originally Posted by Bombardier View Post
it is not strange at all that a developer does not make an announcement that they have suspended construction activities. If you were trying to continue selling units in your building, you wouldn't be instilling much confidence if you made an announcement that you were stopping work on the project.
Well yes that would be the company line, I understand that, but that's not what I was speaking of. In the construction industry like any other industry nothing is done in a vacuum, and the chatter class has a way of leaking out information even if its speculative.So maybe in this case no news is good news concerning 1000M, heres hoping for the best for 1000M which is one of my favorite projects going up in Chicago now.
Reply With Quote
     
     
  #1596  
Old Posted May 6, 2020, 4:00 AM
gandalf612 gandalf612 is offline
Registered User
 
Join Date: Nov 2018
Location: Edgewater, Chicago
Posts: 102
Quote:
Originally Posted by skysoar View Post
Well yes that would be the company line, I understand that, but that's not what I was speaking of. In the construction industry like any other industry nothing is done in a vacuum, and the chatter class has a way of leaking out information even if its speculative.So maybe in this case no news is good news concerning 1000M, heres hoping for the best for 1000M which is one of my favorite projects going up in Chicago now.
I mean this project has not exactly been the gold standard for communication. The questionable financing anyone?
Reply With Quote
     
     
  #1597  
Old Posted May 7, 2020, 12:14 PM
The Pimp's Avatar
The Pimp The Pimp is offline
Registered User
 
Join Date: Jul 2007
Location: Chicago/Hamilton Lake
Posts: 351
I was under the impression that Goldman Sachs was behind the financing on this project. Is this going to be the next Waterview?
Reply With Quote
     
     
  #1598  
Old Posted May 7, 2020, 2:53 PM
The Lurker The Lurker is offline
Registered User
 
Join Date: Jan 2013
Location: Great Lakes
Posts: 604
Quote:
Originally Posted by The Pimp View Post
I was under the impression that Goldman Sachs was behind the financing on this project. Is this going to be the next Waterview?
God I hope not. Imagine that brutal 30 story shell adorning Michigan Ave for the next 5 years. I doubt this one will make it out of the ground as currently planned. This project has always been destined for failure. At least we have a prime foundation capable of supporting an 800 footer in place. I could be wrong though. I never imagined it would make it as far as it has.
__________________
I voted for Pedro
Reply With Quote
     
     
  #1599  
Old Posted May 7, 2020, 5:05 PM
maru2501's Avatar
maru2501 maru2501 is online now
Registered User
 
Join Date: Oct 2015
Location: chicago
Posts: 1,603
agree. I think there was general surprise when it started
Reply With Quote
     
     
  #1600  
Old Posted May 8, 2020, 4:37 PM
kolchak's Avatar
kolchak kolchak is offline
Registered User
 
Join Date: Mar 2008
Posts: 701
Belssing in disguise. As happy as I was that the area appeared to be getting another 800 footer, this site calls for a building with setbacks. One that would accept and integrate itself with the surrounding architecture. Not a building hocking
view condos. Hopefully the whole plan gets scrapped at this point.
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Global Projects & Construction > Skyscraper & Highrise Construction
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 5:26 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2020, vBulletin Solutions, Inc.