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Originally Posted by DCReid
I don't see this being constructed anytime soon - rising interest rates, risk of recession, Chicago's current challenges. I do see it maybe being built in the next real estate upswing, perhaps in the 2030s...of course, just my conjecture, but I think many banks and developers would consider this a risk right now...
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Only bright spot is There’s tons of capital waiting in the wings to lever-up the second rates start to drop. Markets currently pricing this in early 2024… I personally think it will take longer for rates to go down, but we’ll see.
Recession might actually mean this thing gets off the ground. Get a low rate loan after the fed cuts, then build it over 2-3 years, recession should be over by then. people are ready to move, and rates are still low enough to inflate condo prices. Tourism recovered to previous levels and ready for the new rosewood hotel or whatever they put in. and now you’re the only person with a product to deliver.
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