Yeah, I think with One Chicago being done, and now 920 & 868 N Wells opened/opening, along with the horrible economy we're in.
JDL are probably (hopefully) playing the long-game with this project, likely just trying to start paying back the loans on One Chicago and the two completed Wells buildings. 471 N Franklin is now being converted into 40ish lofts and if 210 W Chestnut gets built next year, these I think are smaller, less risky, quick and cheap wins for JDL to get done and make money back on.
They are likely as you said moving back to the 2029 timeline, but I have no doubt that part of this project is on hold until interest rates get better. This (as I am aware) is JDLs only project in Chicago so it's not like a position like SB or Onni that have 2-4 different projects they're trying to fund.
I'm still holding onto some hope that this project will still turn out 90% what we will remember it as, even if some taller buildings get a slight height chop.
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Originally Posted by BrickellBased
Good spot.
I think it had recently become clear that there was no way they were going to meet the previously posted timeline.
And that timeline was substantially moved up from an even earlier posted timeline where the later phases were schedule 2027-2028 I believe and so we're probably back to looking in that direction.
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