CHICAGO | 560 N. Fairbanks | 787' Official / 752' Roof | 58 FLOORS | NEVER BUILT - Page 3

spyguy · #41 Posted **Oct 25, 2006, 8:57 PM**

Seeing the rendering makes a difference to me - the curving glass is pretty sleek.

SamInTheLoop · #42 Posted **Oct 25, 2006, 10:34 PM**

Quote:

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:

Trump
Waterview
Elysian
Aqua
Mandarian Oriental
Intercontinental

and now 560 N Fairbanks.

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

This got me thinking - it's not so much regular luxury hotel rooms that concern me. The downtown hotel market, including the luxury segment, is as strong as its ever been. I think that there is a window that's open right now that could accomodate a good deal of new supply in all of the moderate to super-luxury segments of the market. What continues to concern me, however, is that developers are continuing to view condo-hotels as viable in Chicago. I know I've mentioned this before, but condo-hotels are going to be a very thin market and IMO will only work in a few very select cases. Otherwise, some of these developers need to stop being so lazy and go to the capital markets for traditional hotel financing sources, which by the way are fairly abundant right now...

aaron38 · #43 Posted **Oct 25, 2006, 10:40 PM**

Okay, here's something crazy to think about. This little proposal here, which just came out of nowhere, at 787 feet, if instantly built today, would be the 2nd tallest building built in Chicago in the last 15 years!!!

It's huge, it just edges out 300 N. LaSalle, and it almost feels as if it could just get lost in the shuffle...

the urban politician · #44 Posted **Oct 25, 2006, 10:46 PM**

** Removed for copyright infringement **

-Dylan Leblanc

chicubs111 · #45 Posted **Oct 25, 2006, 11:10 PM**

hmm...well...we will just have to wait and see. I think the big projects will go through..i dont care if the little ones are put on hold.

aaron38 · #46 Posted **Oct 26, 2006, 4:02 AM**

I would actually be fine with a modest slowdown that relieved pressure a bit in cost areas. When things slow up, there's typically a flight to quality, an increased awareness of where the money's going rather than just throwing it at every fly-by-night proposal that shows up.

And I think a proposal like this represents some of that shift to quality from quantity. I think many of us skyscraper fans would happily trade three 400 footers for one 800 footer. Sure, a quantitative market analysis would show a 33% reduction in units marketed, and therefore a slowdown. But a qualitative analysis shows an extremely tall luxury condo building in the heart of a bustling city.

If the market setled down to a steady pace of 2 towers of this type per year, and little else, I would find it hard to be disapointed.

(Appologies for the analytical nature, that's what happens when you check in after working on a master's term paper)

Big building tall. Way cool!!! - Ah, better

budman · #47 Posted **Oct 26, 2006, 3:59 PM**

Quote:

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:

Trump
Waterview
Elysian
Aqua
Mandarian Oriental
Intercontinental

and now 560 N Fairbanks.

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

^I wouldn't put Aqua in the same group as the others (and has been mentioned, it looks like Intercontinental won't get built, at least for a loooooong time). Aqua is going to essentially be the Fairmont, with an increase in rates of about 25%. It might be nice, or even luxury, but not on par with true 5-star hotels at Trump, Waterview (Shangri-La) and the Mandarin. Also, the Elysian is a brand new brand...holding itself out as "5-star", but not so certified. Maybe it will, maybe it wont.

And this new tower looks pretty cool so far, but I would imagine the views at 550 St. Clair and 600 N. Fairbanks will be adversely impacted...

dagobert · #48 Posted **Oct 26, 2006, 6:29 PM**

Quote:

Originally Posted by Rocket1

The article at NewCitySkyline also says there's a "Diggitys hot dog stand" in addition to the parking lot.

I've been by the site a number of times before, and can't remember a hot dog stand for the life of me.

Guess my memory's even worse than I thought.

As others have pointed out there is indeed a hot dog stand. I ate there two times and the reason why I stopped the first time was due to the interesting name. Food isn't anything exciting, so I hope this projects goes through.
Across the street you can see the Helmut Jahn's 600 N. Fairbanks

Here is a picture from emporis:

Norsider · #49 Posted **Oct 26, 2006, 7:16 PM**

Quote:

Originally Posted by Rocket1

The article at NewCitySkyline also says there's a "Diggitys hot dog stand" in addition to the parking lot.

I've been by the site a number of times before, and can't remember a hot dog stand for the life of me.

Guess my memory's even worse than I thought.

Uh oh,

I'm thinking Honte might object to the defamation of one of our glorious city's frankfurterian icons.

forumly_chgoman · #50 Posted **Oct 27, 2006, 5:12 AM**

OK .,....honeymoon romance is over...chances of this being built???? Bets??

honte · #51 Posted **Oct 27, 2006, 7:33 AM**

Quote:

Originally Posted by Norsider

Uh oh,

I'm thinking Honte might object to the defamation of one of our glorious city's frankfurterian icons.

So sorry to disappoint you.

Fluky's or Superdawg would be a different story though.

brian_b · #52 Posted **Oct 27, 2006, 1:59 PM**

I thought I heard that this site had environmental contamination. Anyone remember anything about it?

BVictor1 · #53 Posted **Oct 27, 2006, 2:32 PM**

Quote:

Originally Posted by brian_b

I thought I heard that this site had environmental contamination. Anyone remember anything about it?

I've heard that before as well, but just about every site in Streeterville has environmemtal concerns. Because of the Lindsay Light Company, much thorium was disposed in the area. but as you have seen, that hasn't stopped development.

Chicago3rd · #54 Posted **Oct 27, 2006, 2:36 PM**

Yes it is dirty. But it will be cleaned up once they start...which should be in the next month or so. Doesn't stop construction...has never. If done right things move along smoothly and it is taken care of.

bnk · #55 Posted **Nov 5, 2006, 2:43 AM**

Whats the latest?

spyguy · #56 Posted **Nov 12, 2006, 12:44 AM**

Graves Chicago
http://www.graveshotelsresorts.com/graves-chicago.asp

Located at Ohio and Fairbanks will feature 220 Luxury guest rooms, a fine dining restaurant, a full service spa and 300 condo units. Opening is scheduled for late 2009.

Busy Bee · #57 Posted **Nov 12, 2006, 12:53 AM**

Delicious.

BVictor1 · #58 Posted **Nov 12, 2006, 1:04 AM**

Quote:

Originally Posted by spyguy

Graves Chicago
http://www.graveshotelsresorts.com/graves-chicago.asp

Located at Ohio and Fairbanks will feature 220 Luxury guest rooms, a fine dining restaurant, a full service spa and 300 condo units. Opening is scheduled for late 2009.

Mandarin's shorter, and much more visible sister. I do like the design, and this building will be more visible, because it's not in the shadows of other buildings like Mandarin is. This will be one of the taller buildings in south Streeterville.

I'm going to attempt to get a better rendering. Nice work SG

SamInTheLoop · #59 Posted **Nov 12, 2006, 2:00 AM**

^ Very nice. Yes, it looks like other SCB designs, but I am loving this one - I think it will be a worthy addition. Also, I hope Draper and Kramer are not planning the hotel rooms to be condos as well. That will improve the project's chances.

Wheelingman04 · #60 Posted **Nov 12, 2006, 6:13 AM**

It looks like a pretty nice tower.