CHICAGO | North Union (Moody Bible Campus) | 2,680 Residential Units

[jpIllInoIs]

Originally Posted by r18tdi

I believe that is correct. Renovation and a small vertical expansion.

A small but strategic renovation that will add 44 units that differ from a high-rise, more loft oriented. And complete the Franklin street wall. Truly a filler till the next tower.

[dreamy-developer]

A recent piece on the second tower from YIMBY.

GOD I really hope this entire mega project pulls through, this is probably my #1 most anticipated development in the entire city.

I wouldn't be surprised if the timeline get's pushed back from the revised 2026 date. Or they would need to hit ground on three 500+ footers by the end of the year. Still really hoping at minimum the next tower goes ahead before the EoY.

Article:
Exterior Work Nears Completion For 868 N Wells Street In Near North Side

[Zapatan]

Originally Posted by dreamy-developer

I wouldn't be surprised if the timeline get's pushed back from the revised 2026 date. Or they would need to hit ground on three 500+ footers by the end of the year. Still really hoping at minimum the next tower goes ahead before the EoY.

I hope they can pull that off, It's time to step up the development game, in many other cities that (and much more) would be totally possible.

[BrickellBased]

FWIW - Their original timeline on the northunion.com site was out to 2028 I believe. The current timeline on there was moved up from that a couple years and was a lot more ambitious. So in a sense they're still on track with that original timeline.

They bought the land, have it partly built out, and already completed a super large project down the street perfectly (OCS) - I think they'll complete it within the next 4 years.

Originally Posted by dreamy-developer

A recent piece on the second tower from YIMBY.

GOD I really hope this entire mega project pulls through, this is probably my #1 most anticipated development in the entire city.

I wouldn't be surprised if the timeline get's pushed back from the revised 2026 date. Or they would need to hit ground on three 500+ footers by the end of the year. Still really hoping at minimum the next tower goes ahead before the EoY.

Article:
Exterior Work Nears Completion For 868 N Wells Street In Near North Side

[gandalf612]

Originally Posted by BrickellBased

FWIW - Their original timeline on the northunion.com site was out to 2028 I believe. The current timeline on there was moved up from that a couple years and was a lot more ambitious. So in a sense they're still on track with that original timeline.

They bought the land, have it partly built out, and already completed a super large project down the street perfectly (OCS) - I think they'll complete it within the next 4 years.

Exactly with the speed they pulled off OCS I don't have any concern

[dreamy-developer]

Originally Posted by BrickellBased

FWIW - Their original timeline on the northunion.com site was out to 2028 I believe. The current timeline on there was moved up from that a couple years and was a lot more ambitious. So in a sense they're still on track with that original timeline.

They bought the land, have it partly built out, and already completed a super large project down the street perfectly (OCS) - I think they'll complete it within the next 4 years.

That's probably the one thing that keeps me believing the pace of the project means little, JDL have not disappointed Chicago yet, and I have a lot of faith in them that they'll pull through with it.

Wasn't trying to be all "doom and gloom", just really hope to see something on this dev soon.

[SolarWind]

April 15, 2024

[dreamy-developer]

Great photos!

Nice to see the existing structure trucking along. Will be interested to see what those lofts look like once it's complete.

Hope to see some update soon on the building next to and 903 N Franklin St

[dreamy-developer]

Looks like final permits were issues for 871 N. Franklin

https://chicago.urbanize.city/post/f...in-north-union

[r18tdi]

Originally Posted by dreamy-developer

Hope to see some update soon on the building next to and 903 N Franklin St

I'd be surprised if they had financing. That's the primary bottleneck for most projects.

[dreamy-developer]

Not trying to spread too much skepticism, but I was on JDL's North Union site and it looks like the timeline for the other towers have been removed and are now marked as "Coming in Phases", dropping the known year timeline

It does appear that the mid-rise 210 W Chestnut St (that address is my guess) still is slated for 2025 next year. While all others are marked as Phases now

https://northunion.com/

[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.

Originally Posted by dreamy-developer

Not trying to spread too much skepticism, but I was on JDL's North Union site and it looks like the timeline for the other towers have been removed and are now marked as "Coming in Phases", dropping the known year timeline

It does appear that the mid-rise 210 W Chestnut St (that address is my guess) still is slated for 2025 next year. While all others are marked as Phases now

https://northunion.com/

[dreamy-developer]

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.

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.