CHICAGO | Highrise Projects & Construction, v7 - Page 845

TheIllinoisan · #**16881** Posted **Mar 7, 2020, 2:47 AM**

Quote:

Originally Posted by chicubs111

you would think you would have something fairly tall for the cost to purchase that lot to build on... looks like another spot where Chicago under performs on height..add it to the list of spire, wolf point, and many others

Something substantial would be nice, but this would knock out a full block of parking in a place where there shouldnt be any parking lots. Fingers crossed so that whatever is built there has good street presence/retail and as few curb cuts as possible.

I would think that the tower would be better placed on the SE corner rather than the SW corner, though. The Wrigley building is the shortest obstruction towards the river and there would be a lot more units with better river views.

chicubs111 · #**16882** Posted **Mar 7, 2020, 4:08 AM**

Quote:

Originally Posted by rivernorthlurker

I dunno, it looks very similar in height to other stuff built in the neighborhood recently in the last 5 years, eg 465 North Park, Optima II (and I), Loews. I tend to think that's just the economic reality rather than all those sites are 'underperforming.'

how many full block parking lots are there one block off north michigan avenue?...its totally under performing ...the prime lots are being developed into rather mediocre designs and uninspiring heights...i understand you can keep moveing west in chicago for unlimited potential but i always hear once all the lots are filled the demand to build taller will follow...well most of the big lots in prime areas downtown are filled or filling with respect to the loop core and a few blocks east and west off north michigan ave... you would think the average height of some of these developments would be in the 750 ft plus range.

west-town-brad · #**16883** Posted **Mar 7, 2020, 1:29 PM**

Quote:

Originally Posted by chicubs111

how many full block parking lots are there one block off north michigan avenue?...its totally under performing ...the prime lots are being developed into rather mediocre designs and uninspiring heights...i understand you can keep moveing west in chicago for unlimited potential but i always hear once all the lots are filled the demand to build taller will follow...well most of the big lots in prime areas downtown are filled or filling with respect to the loop core and a few blocks east and west off north michigan ave... you would think the average height of some of these developments would be in the 750 ft plus range.

I think the investment strategy is known as land banking. If the owner generates enough income from parking lot operations to cover the property taxes, and has no need for the capital, why bother building? It's like a giant savings account.

chicubs111 · #**16884** Posted **Mar 7, 2020, 3:23 PM**

Quote:

Originally Posted by west-town-brad

I think the investment strategy is known as land banking. If the owner generates enough income from parking lot operations to cover the property taxes, and has no need for the capital, why bother building? It's like a giant savings account.

I was not questioning the fact there is a sizable parking lot at that location that hasn't gotten developed over the years.. i was questioning the development that potentially would go there, based on the rendering we seen it is conservative and underutilized for such a prime spot ...since having a lot that size so close to michigan avenue we would expect more. This was previously the spot the realtor building owners were going to develop a 90 plus story "rockerfeller center" type centerpiece for Chicago before that deal never materialized. So its not like developers havent thought big plans for that land.

ih8spires · #**16885** Posted **Mar 7, 2020, 7:31 PM**

^

Yeah, come on, add something to our city. That plan does nothing to "stir my soul." That would be a waste.

sentinel · #**16886** Posted **Mar 7, 2020, 7:42 PM**

Quote:

Originally Posted by rgarri4

VP of Pepper construction posted this on his Linkedin. Proposal at Rush and Illinois?

This looks like a structural BIM model - cladding is not shown, nor is it really possible to understand what the design is just by looking at this image. I'd be shocked if the bold coloring had anything to do with the exterior. It looks to be between 600'-700', comparable to the AMA/old IBM building

CrazyCres · #**16887** Posted **Mar 7, 2020, 8:58 PM**

Quote:

Originally Posted by rgarri4

VP of Pepper construction posted this on his Linkedin. Proposal at Rush and Illinois?

Damn it.

We only have about a handful of sites left in the downtown area that could be used for a Supertall structure and developers continue to waste the opportunity.

But this is still in the planning phase so hopefully, something will change for the better.

We have 400LSD, Two Sites next to the NBC Tower, Rush and Illinois, Madison and Desplaines, maybe the 78, Roosevelt and Michigan, and the Thompon center site. There are likely more sites I have not named.

chicubs111 · #**16888** Posted **Mar 7, 2020, 9:06 PM**

I wish we had more developers like JDL... Jim letcher seems like the guy who wants to make a statement with his buildings and would take advantage of prime real estate opportunities as he is doing with One Chicago.

rivernorthlurker · #**16889** Posted **Mar 7, 2020, 9:24 PM**

Speaking of undeveloped parcels, can anyone fill us in on past proposals/rumors for development (if any) for the Columbus/Fairbanks and Grand surface lot across from the Whole Foods?

PittsburghPA · #**16890** Posted **Mar 8, 2020, 1:14 PM**

167 N Green

spyguy · #**16891** Posted **Mar 8, 2020, 5:27 PM**

Quote:

Originally Posted by rivernorthlurker

Speaking of undeveloped parcels, can anyone fill us in on past proposals/rumors for development (if any) for the Columbus/Fairbanks and Grand surface lot across from the Whole Foods?

That was supposed to be a relatively tall hotel tower (maybe with condos?) by SCB that went nowhere. I believe Northwestern Memorial Hospital owns it now which doesn't give me a lot of hope of it being developed any time soon with anything noteworthy.
http://www.skyscrapercenter.com/buil...-fairbanks/991

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A post on Pappageorge Hayme's Twitter account seems to show a rendering of a proposed building north of the Cassidy Tire building. Could this be what Vornado is planning?

Ricochet48 · #**16892** Posted **Mar 8, 2020, 5:54 PM**

Oh wow you cropped that from the photos in the background, great catch.

Anyone got stats on how tall this one is planned for?

rivernorthlurker · #**16893** Posted **Mar 8, 2020, 8:51 PM**

Quote:

Originally Posted by spyguy

A post on Pappageorge Hayme's Twitter account seems to show a rendering of a proposed building north of the Cassidy Tire building. Could this be what Vornado is planning?

omg that's ridiculous, guess that's why they call you spyguy