CHICAGO | St. Regis Chicago (Vista) | 1,191 FT | 101 FLOORS

[wierdaaron]

This might be my naïveté shining through, but I've been surprised by how most new buildings with a good views that are split into hotel/residential seem to have all of the hotel rooms down at the bottom where they'll get none of the views.

With the Loews tower it makes sense because it's apartments, so they can jack the lease rates up as the value of the market goes up, but in this building's case it seems like you might want to have at least a few of the hotel rooms up higher in the tower so they could offer better lake and park views and charge sky-high (literally) rates for them as long as the building is standing.

With condos, you make your money once when everybody gobbles up the highest units and then you stop making money off of them, unless there's a lot of profit built into the assessments. Magellan of all entities should know how heavily the balance is starting to lean toward apartments over condos in preference by the younger monied, as well as how annoying and entitled condo residents can be in downtown.