CHICAGO | 680 North Rush | 752 FT / 229 M | 64 FLOORS | NEVER BUILT - Page 11

dubai 1 · #**201** Posted **Sep 23, 2006, 2:50 PM**

WOW that's a cool ass building,when does it start???

SamInTheLoop · #**202** Posted **Sep 23, 2006, 4:41 PM**

Quote:

Originally Posted by dubai 1

WOW that's a cool ass building,when does it start???

Spring 2007 is the current projected groundbreaking

Bergenser · #**203** Posted **Sep 23, 2006, 4:47 PM**

^Looking good! wil be perfect in the skyline.

SamInTheLoop · #**204** Posted **Oct 25, 2006, 1:47 PM**

Page 4? That should be a crime for this one. LR Development is changing its name - I went to the website last weekend and was redirected to the site with the new name - Related Midwest. So it doesn't seem like major organizational change, just a new name to stress its relationship to the Related Companies. Still waiting for sales of Canyon Ranch Living Chicago to officially begin. I think they're still finalizing necessary documents to launch sales, with construction still expected to begin by early summer '07. You have to respect developers of this caliber - not a lot of hype, just very deliberate, focused and they deliver on what they set out to accomplish. No rushing here, and it's for the best. If this one turns out like 340 is shaping up(very high quality IMO), I'm going to be quite pleased...

KevinFromTexas · #**205** Posted **Oct 25, 2006, 4:53 PM**

I really like the design of this building, and I'm usually not a big fan of cylindrical shaped buildings.

forumly_chgoman · #**206** Posted **Oct 26, 2006, 4:14 PM**

I have to admit I am a little confused......is the church in the rendering Holy Name. 680 north puts is just a block south of Chicago Ave. so I am thinking that the chucrhc is Holy Name.

I somtimes get this one confused with Scottish Rite proposal.....I just walked by Scottish Rite last night on my way to Gibson's is that proposal dead???

BVictor1 · #**207** Posted **Oct 26, 2006, 5:10 PM**

Quote:

Originally Posted by forumly_chgoman

I have to admit I am a little confused......is the church in the rendering Holy Name. 680 north puts is just a block south of Chicago Ave. so I am thinking that the chucrhc is Holy Name.

I somtimes get this one confused with Scottish Rite proposal.....I just walked by Scottish Rite last night on my way to Gibson's is that proposal dead???

It's St. James Cathedral which is on Wabash. Holy Name is on State

forumly_chgoman · #**208** Posted **Oct 27, 2006, 6:37 PM**

thanks BV

SamInTheLoop · #**209** Posted **Nov 1, 2006, 5:47 AM**

I recently received email notification of a "Taste of Canyon Ranch" information session on this project being held at the River East Arts Center on Tuesday, November 14. Details about the project are promised in addition to speakers addressing the healthy living/eating emphasis of Canyon Ranch. I think Related made a very smart deal with Canyon Ranch, as it allows a very specific and authentic lifestyle branding of the development. I think that, more than anything else, will really help move these super high-priced units in an increasingly crowded high end of the market and lead to the project's success.

the urban politician · #**210** Posted **Nov 1, 2006, 4:44 PM**

Quote:

Originally Posted by SamInTheLoop

I recently received email notification of a "Taste of Canyon Ranch" information session on this project being held at the River East Arts Center on Tuesday, November 14. Details about the project are promised in addition to speakers addressing the healthy living/eating emphasis of Canyon Ranch. I think Related made a very smart deal with Canyon Ranch, as it allows a very specific and authentic lifestyle branding of the development. I think that, more than anything else, will really help move these super high-priced units in an increasingly crowded high end of the market and lead to the project's success.

^ Oh, for the love of God, they need to stop talking about this thing and start offering sales before the market becomes so damn soft you can rest your head on it go to sleep

SamInTheLoop · #**211** Posted **Nov 1, 2006, 4:58 PM**

Quote:

Originally Posted by the urban politician

^ Oh, for the love of God, they need to stop talking about this thing and start offering sales before the market becomes so damn soft you can rest your head on it go to sleep

Agreed! Related needs to just pull the trigger on this one right now. I think they're probably hemming and hawing because they want to get unit sizes and pricing just right in the face of the slowing market, but sometimes you just have to trust your instincts and your product and aggressively push ahead...

Alliance · #**212** Posted **Nov 5, 2006, 1:20 AM**

The market may be cooling off, but skyscrapers are long-term investments. I'm sure people look ahead a little bit farther than the next year.

SamInTheLoop · #**213** Posted **Nov 5, 2006, 1:41 AM**

Quote:

Originally Posted by Alliance

The market may be cooling off, but skyscrapers are long-term investments. I'm sure people look ahead a little bit farther than the next year.

For the most part, skyscrapers anymore are not at all long-term investments for developers. If the building is condo (residential or commercial), obviously individual units are sold off and the developer exits the deal. If the building is an income-producing investment, in today's heated capital markets in which real estate is a well-accepted and even highly desired asset class alongside stocks and bonds, developers very often have the full intention of selling the property within a relatively short time after completion, also exiting the deal. Now, if you're talking about skyscrapers being a long-term investment in the eyes of individual condo owners, that varies wildly by individual according to their own specific goals. In the case of CRL, I do think the main reason Related is hesitating a little regarding pricing, unit sizes, etc. at the current time is because they are probably concerned about sales velocity. As far as Chicago developers, they are as proven, successful and disciplined as they come, and they want to make sure to meet the project's timeline of groundbreaking early summer 2007 with completion in 2010.

stylusx · #**214** Posted **Nov 10, 2006, 8:35 PM**

The market is soft but this project has a greater problem...No one wants to spend north of $600,000 starting for no view, and a poor location. This spot is totally boxed in by the Omni, Pinnacle, 30 E. Huron, 55 E. Erie....etc. The design is wasted on this piece of property. The St. James people should seriously rethink the business end of this project, since other condo/hotel projects are dying every day. Yeah, bean sprouts and yogurt are beautiful, but when there are literally thousands of units available for way way less within blocks....with better locations...why would a buyer even think of this building?

Busy Bee · #**215** Posted **Nov 10, 2006, 9:10 PM**

^Shut up someone might here you.

Dale · #**216** Posted **Nov 10, 2006, 9:39 PM**

Related is good as gold in South Florida, spotty everywhere else.

VivaLFuego · #**217** Posted **Nov 10, 2006, 9:57 PM**

^ this is a pretty awesome location, if you ask me. . . .

SamInTheLoop · #**218** Posted **Nov 10, 2006, 11:19 PM**

Quote:

Originally Posted by Dale

Related is good as gold in South Florida, spotty everywhere else.

Wrong on that one - Related is better than Gold in Chicago (they were called LR Development up until a few weeks ago, and it was just a name change - the organizational structure and affiliation between LR/Related Midwest and Papa Related did not change). LR has about the best record for execution in Chicago of luxury residential development.

Taft · #**219** Posted **Nov 10, 2006, 11:21 PM**

Quote:

Originally Posted by VivaLFuego

^ this is a pretty awesome location, if you ask me. . . .

Agreed. I love Washington Square park and the proximity to retail/entertainment on rush/state/michigan is attractive. As for views, the west are fine and there is quite a bit of breathing room to the northeast (unless something new is going up--I used google earth to check). This thing wouldn't be facing another highrise 20' away, or anything.

Not everybody is looking for unobstructed views of the lake. I think the area is hot enough to sustain it.

Taft

SamInTheLoop · #**220** Posted **Nov 10, 2006, 11:24 PM**

Quote:

Originally Posted by stylusx

The market is soft but this project has a greater problem...No one wants to spend north of $600,000 starting for no view, and a poor location. This spot is totally boxed in by the Omni, Pinnacle, 30 E. Huron, 55 E. Erie....etc. The design is wasted on this piece of property. The St. James people should seriously rethink the business end of this project, since other condo/hotel projects are dying every day. Yeah, bean sprouts and yogurt are beautiful, but when there are literally thousands of units available for way way less within blocks....with better locations...why would a buyer even think of this building?

The location of this one is absolutely phenomenal. What you say about the "boxed in" nature of the location has some merit. However, you forget about the advantages to the views that the eliptical design will bring. The curving curtain-wall will improve view corridors. Also, do not underestimate the towering strength that this project enjoys - the Healthy Lifestyle/Spa component is a massive selling point that IMO gives the development a solid competitive advantage.