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BVictor1 Sep 22, 2015 6:32 PM

Quote:

Originally Posted by trvlr70 (Post 7172502)
Are there any hints that once construction is over at the apartment tower that they will begin work on the next two towers? I'm going to hate it if they begin to lay down asphalt for the parking lot and install landscaping.

There will be a community meeting prior to each new phase.

Skyguy_7 Oct 16, 2015 12:52 PM

Since the West Tower sales center is now up, I imagine they're going to try to fill the building before beginning phase II.
:slob:
http://www.chicagobusiness.com/apps/...20151015134259
Rendering by Crains

Also of note- "Renderings of the two future Wolf Point buildings that surfaced on the Internet over the summer depict a sleek tapering spire on the middle, tallest building, but Hines representatives say the renderings were not accurate or final. They won't comment on what Wolf Point will look like" :/ I love the south tower design.
Per Crains.

go go white sox Jan 3, 2016 1:09 AM

I wonder how long until we get something on the real gem of this project Wolf point south tower.

Pilton Jan 6, 2016 4:20 PM

Quote:

Originally Posted by go go white sox (Post 7286114)
I wonder how long until we get something on the real gem of this project Wolf point south tower.


WPS? Depends on demand for office and high price condos.

http://www.chicagobusiness.com/artic...-office-towers

maru2501 Jan 6, 2016 6:00 PM

at least they haven't turned the rest of the site into a parking lot just yet

VKChaz Jan 6, 2016 7:04 PM

Quote:

Originally Posted by maru2501 (Post 7289853)
at least they haven't turned the rest of the site into a parking lot just yet

Does anyone know what the interim plan is?

Zapatan Jan 6, 2016 8:49 PM

Well at least the article said the vacancy rate for office space at least is at an all time low since 2008. If it's a mixed used tower which I think it is that means Wolf point South still probably has a chance at getting built I assume.

Kngkyle Jan 6, 2016 9:07 PM

I wouldn't be surprised if the South tower is changed from office to condos and a hotel. I don't see an office tower being built there for awhile given the current market conditions. Not unless they can pull someone big from the suburbs or out of town. Condos on the other hand... that location is pretty prime.

Zapatan Jan 6, 2016 9:49 PM

Quote:

Originally Posted by Kngkyle (Post 7290160)
I wouldn't be surprised if the South tower is changed from office to condos and a hotel. I don't see an office tower being built there for awhile given the current market conditions. Not unless they can pull someone big from the suburbs or out of town. Condos on the other hand... that location is pretty prime.

Well, maybe a little office space and have the rest be a hotel or condos. Although I do hope if it's all hotel/condos that it remains 1000+. This is such a perfect location for a supertall that it would be a damn shame if the other towers fell through.

rlw777 Jan 7, 2016 12:03 AM

Quote:

Originally Posted by Kngkyle (Post 7290160)
I wouldn't be surprised if the South tower is changed from office to condos and a hotel. I don't see an office tower being built there for awhile given the current market conditions. Not unless they can pull someone big from the suburbs or out of town. Condos on the other hand... that location is pretty prime.

I don't think it was ever an announcement that the south tower would be office to begin with.

Zapatan Jan 7, 2016 10:08 PM

Quote:

Originally Posted by rlw777 (Post 7290405)
I don't think it was ever an announcement that the south tower would be office to begin with.

From what I heard it would be mixed use which would mean office + other stuff

The Lurker Jan 8, 2016 6:59 AM

Quote:

Originally Posted by Zapatan (Post 7291592)
From what I heard it would be mixed use which would mean office + other stuff

Not necessarily. Mixed use could easily and actually more likely mean residential + hotel. office space usually plays alone

HomrQT Jan 9, 2016 1:02 AM

Whoever buys in the West tower can reasonably assume their East view is going to be blocked sooner than later?

colemonkee Jan 9, 2016 1:13 AM

^ The west tower is rental, no?

ardecila Jan 9, 2016 8:18 AM

I think a more likely scenario is launching the East Tower as condos first before the South Tower. Then Hines could wait for the next market cycle to launch office leasing for the South Tower. The location is near irresistible for office tenants, there just aren't many large tenants looking for space at top rates right now.

That said, I'm not sure offhand if it's practical to build the South Tower after the East is completed. Seems pretty difficult from a construction standpoint, but I'm sure they could stage from the lower level somehow, or from a barge if they had to.

J_M_Tungsten Jan 9, 2016 4:15 PM

From a construction standpoint, wouldn't building both at the same time be best? Wishful thinking though

rlw777 Jan 9, 2016 8:47 PM

Quote:

Originally Posted by ardecila (Post 7293375)
I think a more likely scenario is launching the East Tower as condos first before the South Tower. Then Hines could wait for the next market cycle to launch office leasing for the South Tower. The location is near irresistible for office tenants, there just aren't many large tenants looking for space at top rates right now.

That said, I'm not sure offhand if it's practical to build the South Tower after the East is completed. Seems pretty difficult from a construction standpoint, but I'm sure they could stage from the lower level somehow, or from a barge if they had to.

I'm not sure what you're referring to. More likely than what? The programming for the east and west towers haven't been announced. We do know that there will be a hotel, office and residential component to the rest of the development. The most logical arrangement of those components based on what usually gets built in Chicago would be that the south tower would be hotel and condo while the east tower would be office.

I say that because generally speaking as someone pointed out above office stands alone. But also notice that the east tower is the general size of just about every office tower proposal we've had the past few years and that usually when a developer combines hotel and condo they go for height and use some of the hotel services for the residences.

Quote:

Originally Posted by J_M_Tungsten (Post 7293525)
From a construction standpoint, wouldn't building both at the same time be best? Wishful thinking though

Good question. I don't know but I would think it's probably better to build the south tower first and then the east tower for logistical reasons. It makes sense to use the footprint of the east tower for staging materials for the south tower. Then with the east tower you would have to use the street.

LouisVanDerWright Jan 9, 2016 8:48 PM

The floorplates of the South Tower make no sense for office especially compared to the East Tower. This is Hines we are talking about. Does anyone really think they are going to hold a board meeting where everyone will sit down and say:

"Let's take the building that is 750' tall with 50,000 SF floorplates and make that condos. Then we can take the 1000' tall building with 30,000 SF floorplates and make it office. That way the office building can have a loss ratio of 20 or 25 % and the condos will be a tube with a little window at the end."

The developer is looking for the highest and best use for each program given the set parameters of the PD. They are not going to build them in a less profitable use let alone select and less profitable use for both buildings simply because office tenants would think 800' views were cool. The location of the South Tower is also less desirable than the East Tower because it is significantly less visible and accessible than the East Tower which you view it from a leasing perspective.

Kngkyle Jan 9, 2016 10:43 PM

Quote:

Originally Posted by LouisVanDerWright (Post 7293764)
The floorplates of the South Tower make no sense for office especially compared to the East Tower. This is Hines we are talking about. Does anyone really think they are going to hold a board meeting where everyone will sit down and say:

"Let's take the building that is 750' tall with 50,000 SF floorplates and make that condos. Then we can take the 1000' tall building with 30,000 SF floorplates and make it office. That way the office building can have a loss ratio of 20 or 25 % and the condos will be a tube with a little window at the end."

The developer is looking for the highest and best use for each program given the set parameters of the PD. They are not going to build them in a less profitable use let alone select and less profitable use for both buildings simply because office tenants would think 800' views were cool. The location of the South Tower is also less desirable than the East Tower because it is significantly less visible and accessible than the East Tower which you view it from a leasing perspective.

Weren't the designs largely just rough outlines though? I was under the impression that the height and design (thus floorplate) for the South and East tower were not finalized.

pilsenarch Jan 10, 2016 3:10 PM

^Let's hope the designs aren't finalized...


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