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munchymunch Apr 10, 2016 9:32 PM

Quote:

Originally Posted by LouisVanDerWright (Post 7402623)
No one got pictures of the soil testing rigs? I'd love to have seen where they were drilling.

http://www.chicagoarchitecture.org/2...f-point-south/

jc5680 Apr 10, 2016 9:32 PM

From CAB Twitter


maru2501 Apr 11, 2016 2:38 PM

they need to know if the surface parking lot will be stable?

go go white sox Apr 11, 2016 3:00 PM

Quote:

Originally Posted by maru2501 (Post 7403189)
they need to know if the surface parking lot will be stable?

No I believe these are soil rigs so they can determine the amount of contaminating soil in the area.

maru2501 Apr 11, 2016 3:49 PM

yeah kidding. they filed paperwork at one point suggesting it would be turned back into parking until they build. Let's hope not

LouisVanDerWright Apr 11, 2016 9:00 PM

Soil testing usually means that they are working on the engineering of the building which isn't exactly cheap, but also ain't exactly impending construction either. They probably wanted to get that testing out of the way before paving it so they don't tear their new lot up drilling holes should they want to proceed with engineering drawings for either project. It's forward momentum, but who knows when these projects will start. Could be waiting another decade!

rlw777 Apr 11, 2016 11:00 PM

Quote:

Originally Posted by LouisVanDerWright (Post 7403807)
Soil testing usually means that they are working on the engineering of the building which isn't exactly cheap, but also ain't exactly impending construction either. They probably wanted to get that testing out of the way before paving it so they don't tear their new lot up drilling holes should they want to proceed with engineering drawings for either project. It's forward momentum, but who knows when these projects will start. Could be waiting another decade!

I am going to go out on a limb and guess that we will be hearing about specifically the south tower pretty soon. I suspect that the south tower is going to be part condo part hotel. If that's the plan it won't surprise me if they move on this sooner rather than later. The market suggests we are right at the beginning of a little condo boom. Prices are above 2008 levels and are expected to continue to rise.

ithakas Apr 11, 2016 11:29 PM

Quote:

Originally Posted by rlw777 (Post 7403998)
I am going to go out on a limb and guess that we will be hearing about specifically the south tower pretty soon. I suspect that the south tower is going to be part condo part hotel. If that's the plan it won't surprise me if they move on this sooner rather than later. The market suggests we are right at the beginning of a little condo boom. Prices are above 2008 levels and are expected to continue to rise.

Isn't this generally considered near the peak of the hotel boom though? They're also building another luxury hotel as part of Vista.

harryc Apr 12, 2016 3:00 AM

4/11
 
Double Drill

rlw777 Apr 12, 2016 3:25 AM

Quote:

Originally Posted by ithakas (Post 7404032)
Isn't this generally considered near the peak of the hotel boom though? They're also building another luxury hotel as part of Vista.

Yes I think most folks think we are at or near the peak of the hotel boom. However it's worth noting that there are several hotel proposals very close to wolf point that may or may not get off the ground. Like 590 W Madison / Hubbard & Lasalle / and a few in the west loop. Also I'm not sure how much Magellan really cares about competition between Vista and the hypothetical WPS tower. I think that would be mostly the concern of Hines and Wanda.

maru2501 Apr 12, 2016 2:49 PM

if they were smart they would try to deliver before wanda, but maybe that's a stretch

BVictor1 Apr 13, 2016 2:46 AM

Quote:

Originally Posted by maru2501 (Post 7404606)
if they were smart they would try to deliver before wanda, but maybe that's a stretch

Big stretch as this has to have more neighborhood meetings and would have to go back before the plan commission.

munchymunch Apr 13, 2016 3:49 AM

I wonder how accurate this is...

Quote:

One big discussion was on the Wolf Point project with its developer Joseph P. Kennedy Enterprises’ chairman Chris Kennedy. This mega project has been in the process for some time. It will eventually be home to four buildings: a parking garage, which is open now; an apartment tower; and two other towers, one with one million square feet of office, with residential on top, and another that will likely house apartments. f

link


If this is true, it would be hard to imagine this one starting during the current office cycle.

Kumdogmillionaire Apr 13, 2016 4:36 AM

Quote:

Originally Posted by munchymunch (Post 7405634)
I wonder how accurate this is...



link


If this is true, it would be hard to imagine this one starting during the current office cycle.


Just glancing at that website and I'm already leaning towards not trusting their word. My guess is they misheard, office with residential would just be inefficient building

rlw777 Apr 13, 2016 4:40 AM

Quote:

Originally Posted by munchymunch (Post 7405634)
I wonder how accurate this is...



link


If this is true, it would be hard to imagine this one starting during the current office cycle.

I would think someone got mixed up. The PD includes around 1400 residential units 450 hotel rooms and then office space.

munchymunch Apr 13, 2016 4:51 AM

Quote:

Originally Posted by Kumdogmillionaire (Post 7405659)
Just glancing at that website and I'm already leaning towards not trusting their word. My guess is they misheard, office with residential would just be inefficient building

Going through, you'd see that they are a legit company. Working with JDS development on a supertall tower in New York.

Kumdogmillionaire Apr 13, 2016 2:20 PM

Quote:

Originally Posted by munchymunch (Post 7405674)
Going through, you'd see that they are a legit company. Working with JDS development on a supertall tower in New York.

Them being a real business isn't my point

jc5680 Apr 13, 2016 2:40 PM

Quote:

Originally Posted by Kumdogmillionaire (Post 7405659)
Just glancing at that website and I'm already leaning towards not trusting their word. My guess is they misheard, office with residential would just be inefficient building

While not as common, there are plenty of examples of office/residential mixed use buildings. JHC would be a pretty good analogue for what is planned here.

I don't think claiming it would be 'just inefficient' actually weighs on it's likelihood.

Steely Dan Apr 13, 2016 3:21 PM

Quote:

Originally Posted by jc5680 (Post 7405933)
While not as common, there are plenty of examples of office/residential mixed use buildings.

i can't think of too many office/residential mixed-use towers in chicago:

1. JHC
2. 900 N michigan
3. olympia center
4. one magnificent mile
5. mid-continental plaza (built as all office, retrofit of upper floors to residential)
6. doral plaza

am i missing any?

MultiModal Apr 13, 2016 3:39 PM

Quote:

Originally Posted by Steely Dan (Post 7405986)
i can't think of too many office/residential mixed-use towers in chicago:

1. JHC
2. 900 N michigan
3. olympia center
4. one magnificent mile
5. mid-continental plaza (built as all office, retrofit of upper floors to residential)
6. doral plaza

am i missing any?

1 E Erie / Ontario Place.


Also, I would not take much stock into this information but on Costar (a commercial real estate site used by commercial brokers) it list the south tower as 1,800,000 SF proposed 2018 and the east tower as 1,500,000 SF proposed 2020. Once again, I would take that information with a grain of salt.


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