CHICAGO | Highrise Projects & Construction, v7 - Page 734

harryc · #**14661** Posted **May 19, 2019, 3:02 PM**

May 15

harryc · #**14662** Posted **May 19, 2019, 3:24 PM**

May 13

harryc · #**14663** Posted **May 19, 2019, 3:49 PM**

May 13

spyguy · #**14664** Posted **May 19, 2019, 4:44 PM**

^Two good looking South Loop projects. Nice updates, Harry and everyone.

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Various West Loop projects:

DSC_7534 by BartShore, on Flickr

I wonder when Walsh will finally sell/develop their huge blocks near the park.

spyguy · #**14665** Posted **May 19, 2019, 4:51 PM**

It's weird that they are treating this like simple infill when they could make a much bigger statement with more height (the presentation shows this is around 150' less than what's allowed) and a better design/bolder color from Roszak.

BonoboZill4 · #**14666** Posted **May 20, 2019, 3:22 AM**

From today's stroll. Tried to get some unique view, but didn't bring my good camera out of fear of the rain:

Handro · #**14667** Posted **May 20, 2019, 2:40 PM**

Quote:

Originally Posted by spyguy

I wonder when Walsh will finally sell/develop their huge blocks near the park.

Not for a long time, probably. They make a substantial amount of money renting out spaces to nearby businesses.

aaron38 · #**14668** Posted **May 20, 2019, 4:28 PM**

Quote:

Originally Posted by spyguy

It's weird that they are treating this like simple infill when they could make a much bigger statement with more height (the presentation shows this is around 150' less than what's allowed) and a better design/bolder color from Roszak.

First I'm hearing of that, what project is this? Randolph and Wabash?
Agreed it's underwhelming for a site with guaranteed park views. That should be 700ft minimum there.

pilsenarch · #**14669** Posted **May 20, 2019, 4:51 PM**

^^Didn't realize that Walsh was in the landlord business... but, if so, they would make substantially more money renting out space in a building 20 times bigger...

SamInTheLoop · #**14670** Posted **May 20, 2019, 5:14 PM**

Quote:

Originally Posted by Handro

Not for a long time, probably. They make a substantial amount of money renting out spaces to nearby businesses.

Which properties in the area do they own? Are they new construction-likely or probable adaptive re-use projects? And, are they JVs with the Hansons? (Developers of Heritage and Legacy, as Mesa Decelopment....I believe Walsh was not merely the GC on those but also actually an equity partner....the Canadian based commercial property Services firm purchased Mesa some years back if I recall correctly).

SamInTheLoop · #**14671** Posted **May 20, 2019, 5:15 PM**

Quote:

Originally Posted by spyguy

It's weird that they are treating this like simple infill when they could make a much bigger statement with more height (the presentation shows this is around 150' less than what's allowed) and a better design/bolder color from Roszak.

Completely agree. Perplexing. I mean, again my assumption is that they are simply avoiding a PD being triggered. Sure, there’s some time, expense and uncertainty involved in going through the PD process. But still, even accounting for that, it would appear that the developer is essentially leaving on the table what could be up to tens of millions in profit. Why? Is it just a very conservative approach on the part of this developer? Or, do they have reason to think that Reilly at the end of the day would not give them additional FAR/no of units to make it worth going through a PD in their mind? Are they not willing to do something to get a sufficiently large PD approved? Is Reilly disinclined to work through the PD process with this particular developer?

SamInTheLoop · #**14672** Posted **May 20, 2019, 5:19 PM**

Quote:

Originally Posted by BonoboZill4

Yes, just drove by today. Crane is up

Nice...thanks. Just saw a rig in the distance as well. I take it for driving steel foundation piles....I’m assuming this is another South Loop tower that will use driven piles as opposed to caissons....?

Steely Dan · #**14673** Posted **May 20, 2019, 5:19 PM**

why would anyone leave as-of-right height (and the profitable views that come with it) on the table at this location?

makes. no. sense.

the urban politician · #**14674** Posted **May 20, 2019, 5:27 PM**

Quote:

Originally Posted by Steely Dan

why would anyone leave as-of-right height (and the profitable views that come with it) on the table at this location?

makes. no. sense.

When all other explanations fail, the answer usually lies in $$$

Tom In Chicago · #**14675** Posted **May 20, 2019, 7:14 PM**

Quote:

Originally Posted by Steely Dan

why would anyone leave as-of-right height (and the profitable views that come with it) on the table at this location?

makes. no. sense.

The usual suspects. . . time + money. . . I mean if it were that easy we would have had the Doral Plaza south addition in the bag already. . . location is merely part of the equation, but I think we all know that already. . .

. . .

trvlr70 · #**14676** Posted **May 20, 2019, 7:24 PM**

What ever did happen to the Doral South addition proposal?

the urban politician · #**14677** Posted **May 20, 2019, 7:29 PM**

Quote:

Originally Posted by trvlr70

What ever did happen to the Doral South addition proposal?

Likely this:

Quote:

Originally Posted by the urban politician

When all other explanations fail, the answer usually lies in $$$

SamInTheLoop · #**14678** Posted **May 20, 2019, 10:00 PM**

^ ^^ Could be many different reasons. Was the developer really up to the task? A lot of proposals go nowhere because the answer is often “no”. Was the specific proposal of sound conception? Sometimes the answer is “no”. Etc.

BonoboZill4 · #**14679** Posted **May 20, 2019, 10:22 PM**

The lot is also super skinny... I understand some thinking it could have added another 10 stories, but 700 feet? This isn't new york and budget developers don't build super skinnies here lol

LouisVanDerWright · #**14680** Posted **May 21, 2019, 12:04 AM**

Quote:

Originally Posted by BonoboZill4

The lot is also super skinny... I understand some thinking it could have added another 10 stories, but 700 feet? This isn't new york and budget developers don't build super skinnies here lol

The market doesn't exist in NY either considering most of Billionaires row is still unsold...

There's a reason not to be overly ambitious sometimes, but in this location it does seem strange to leave money on the table.