CHICAGO | Highrise Projects & Construction, v7

[sentinel]

Lovely design, but yeah, good luck getting financing for this.

I worked on an affordable housing RENOVATION, where the existing senior housing units were intact, just had minor finish updates. It took THREE YEARS to get approval from the Illinois Housing Development Authority for funding, to the tune of $15 million.

This will never get built, especially when the percentage of affordable-to-market rate is so ridiculously skewed, unless the church is able to fund a large percentage of the construction cost themselves...

[twister244]

Another South Shore highrise proposal....... There's a pattern here........ I said it when 2601 MLK was proposed - If this is a sign of developers seeing something worth going after - I'm all for it.

Maybe this is a knee-jerk reaction to some of the Quantum news over the last year or two, maybe it's not - But I don't remember the last time we saw this flurry of proposals suddenly popping up when the rest of the city feels like a drought.

[dreamy-developer]

Originally Posted by Garynewman

There have been a handful of proposals for high rises in the south lakefront area and none have come into fruition. Asking for 80% affordable in this environment is laughable and makes your proposal DOA. I'm sure Bronzeville at this point can be served by regular market rate units as the population is actually growing in the neighborhood.

The building looks really nice though and I'm glad they're updating the church. Just find it hard to get excited about developments knowing they're not going to become reality.

Every time I read one of your comment Gary, you appear so incredibly confident in yourself that by a fact things will or won't ever happen. Such a pretentious and presentiment narrative you have with everything in this forum.

Unless you have heard out of the mouth of the church and developer that this is by a fact, DOA -- there is a greater than 0% chance this will happen and only time will tell.

[dreamy-developer]

Originally Posted by Garynewman

Just cause I'm realistic doesn't mean I'm pretentious. Unless this project undergoes a whole transformation, it's simply highly unlikely to happen. 80% subsidized is laughable like I said, whose going to hand them financing with those numbers in this environment? And again, many proposals have been brought forward, but how many are actually under construction? Exactly. Not a good time in this city for development, it is what it is.

I can and will respect that, it's just most of the time you chime into threads. The verbiage you use is as if it's an absolute fact it won't happen and will - for a fact, be DOA or not happen at all.

While in all reality, we all don't in actuality know if it will or won't happen. Being realistic on the scenario of things is different than saying "this is DOA" as in it is by a fact DOA. No, it's not - there is still a greater than 0% chance this could happen. Sure to your point, it's maybe unlikely to maybe happen in this climate - but even if that chance is 30-40%, that's still better than but saying "this is likely DOA" while "it's hard to see this happening" is being more realistic.

I don't speak in absolutes, but possibilities is all I'm saying.

[Randomguy34]

There are pending permits for 170 N May: https://chicago.urbanize.city/post/permits-are-works-27-story-tower-170-n-may

After all the doomposting on this forum, we've recently been getting more highrise news. Surprising given that economic uncertainty is at an all time high. It's possible developers want to complete these projects before costs skyrocket further

[cloudbod]

220 N Ada pics from yesterday, it's nearly fully enclosed:

[WestTowner]

Originally Posted by cloudbod

220 N Ada pics from yesterday, it's nearly fully enclosed:

Looks solid! Still worried on how the parking garage will turn out. That was the turd part of the design imo.

[ithakas]

Duplicate / delete post

[ithakas]

Originally Posted by Randomguy34

There are pending permits for 170 N May: https://chicago.urbanize.city/post/permits-are-works-27-story-tower-170-n-may

After all the doomposting on this forum, we've recently been getting more highrise news. Surprising given that economic uncertainty is at an all time high. It's possible developers want to complete these projects before costs skyrocket further

Have to imagine the crazy rent inflation is making projects pencil out more easily.

Rent on a new one bedroom downtown must be what, $2,800?

[Toasty Joe]

Originally Posted by ithakas

Have to imagine the crazy rent inflation is making projects pencil out more easily.

Rent on a new one bedroom downtown must be what, $2,800?

Try closer to $3500-5000 (Zillow search)

[cloudbod]

1723 S Mi Ave yesterday. Lots of aesthetic polish still in progress, but it's shaping up decently. V good infill

[r18tdi]

Apparently it's being marketed as "Nevéseno." There's a website with a gallery featuring some interior renderings/photos.

[Randomguy34]

105 W Adams got $67.5 million in TIF for 400 new units, the 429 hotel rooms will remain. The facade will FINALLY get a deep cleaning


https://chicago.urbanize.city/post/cdc-approves-675-million-tif-105-w-adams

[left of center]

Finally!!! I've been waiting for this one to get cleaned up for quite literally decades

I am happy to see more residential in the Loop. We need to liven up the street scene here with more pedestrians, especially during non business hours. Those 400+ hotel rooms will definitely help with street activation as well.

[ardecila]

Originally Posted by Randomguy34

105 W Adams got $67.5 million in TIF for 400 new units, the 429 hotel rooms will remain. The facade will FINALLY get a deep cleaning

I'll believe it when I see it. Paint is more likely TBH.

[cloudbod]

Originally Posted by Randomguy34

105 W Adams got $67.5 million in TIF for 400 new units, the 429 hotel rooms will remain. The facade will FINALLY get a deep cleaning

Always wondered about this-- why is half the facade clean and half of it coal-stained to hell? Did they have to replace a bunch of the bricks for remedial work in the 90s or something? There's very little info online about this tower in general.

Either way I'm pumped to see a Burnham Bros building get revived. I'd totally live here

[r18tdi]

Originally Posted by ardecila

Paint is more likely TBH.

Fine by me. It looks like shit currently.

[bhawk66]

Originally Posted by ardecila

I'll believe it when I see it. Paint is more likely TBH.

They'd still have to clean it. You can't paint over dirt...Well you can, but it would fall off in a year.

[Toasty Joe]

Damn am I the only one who kinda likes it with the soot on? The color provides a nice gradient from the brighter masonry to the black federal building and post office. In the rendering it kinda blends into the other 4 buildings around it

[woodrow]

Originally Posted by cloudbod

Always wondered about this-- why is half the facade clean and half of it coal-stained to hell? Did they have to replace a bunch of the bricks for remedial work in the 90s or something? There's very little info online about this tower in general.

Either way I'm pumped to see a Burnham Bros building get revived. I'd totally live here

My guess is that sometime after the heaviest use of coal the owners did tuckpointing replacement of stone at the corners and didn't bother to clean the rest because of cost. Might have thought it's gonna darken, why spend the $$