CHICAGO: boom rundown - everything over 12 floors. v4 - Page 63

Sir Isaac Newton · #**1241** Posted **Mar 2, 2007, 4:12 AM**

[QUOTE=Eventually...Chicago;2660674]I was talking my realtor yesterday, he said that museum park west recently broke ground (which is old news, i think) and he said that just west of there (between indiana & michigan, south of roosevelt) they are proposed an 80-story building. Anyone have any word on this?QUOTE]

Legacy just went U/C a couple weeks ago, Aqua and Museum Park West are on the verge of being U/C, and it appears that they may build an 80-story building on the South end of Grant Park. This is a lot of good news in a short period of time! Hopefully Chicago's run of luck will continue in the near future with the Chicago Spire's proposal looking good and construction getting underway, Park Michigan getting approved, and Chicago beating out LA for the US's olympic bid city!

Alliance · #**1242** Posted **Mar 2, 2007, 4:38 AM**

What is this 80 story tower south of Grant Park?

honte · #**1243** Posted **Mar 2, 2007, 5:15 AM**

March 01, 2007
By Thomas A. Corfman
http://chicagobusiness.com/cgi-bin/news.pl?id=24056

Developer looks to settle dispute over River North plan

A lawsuit is apparently prompting marketing executive and aspiring developer Paul Stanley to settle a dispute with two investors from suburban Detroit over his long-running proposal to build a condominium tower in River North.

Mr. Stanley, who is also principal in PS Promotions Inc., first proposed a condo tower in 2002 for a site he controls at State and Huron streets. In the current version of the project, called Huron Club, the 28-story tower would have just 74 units, according to the Web site for the proposals.

The investors, Alan A. Singer and Robert P. Levin, who is also Mr. Stanley’s cousin, say Mr. Stanley broke a letter of intent to sell the project to them for $9 million, plus $15,000 per unit, according to the complaint, filed Monday in Cook County Circuit Court.

In addition to breaching that agreement, they also allege that Mr. Stanley refused to reimburse them for expenses they paid, including nearly $350,000 in legal and architectural fees, the complaint says.

In an e-mail message, Mr. Stanley calls the dispute a “misunderstanding that was settled.”

The Michigan investors’ attorney, Michael Weinberg, says a settlement agreement has not been reached, but he expects the case to be resolved.

“I don’t know why the settlement (proposal) came when it did,” says Mr. Weinberg of Chicago-based law firm Novack and Macey LLP.

The high-rise development has been a dream for Mr. Stanley, who has done several small condo conversion projects.

But it has also been a struggle. Last June, he extended nearly $5.3 million in loans after they came due, according to a forbearance agreement with the lender, MB Financial Bank, which as a part of the deal agreed to hold off on any collection action.

The loans “were extended once again,” Mr. Stanley says in his e-mail message.

honte · #**1244** Posted **Mar 2, 2007, 5:21 AM**

Special Meeting of the Landmarks Commission:

FARWELL BUILDING WARD 42
664 N. Michigan Avenue

Review of Revised Pre-Permit Submission and Recommendation to
City Council to Approve the Dismantlement, Demolition, Repair
and Reconstruction Pursuant to Sec. 2-120-770 of the Municipal Code

Date: Thursday, March 8, 2007

Location: Cook County Commission Board Room, 118 N. Clark St., 5th Floor

Time: 9:00 a.m.

Sir Isaac Newton · #**1245** Posted **Mar 2, 2007, 5:25 AM**

Quote:

Originally Posted by Alliance

What is this 80 story tower south of Grant Park?

It is the building that Eventually...Chicago mentioned. I had heard that Central Station was planning on building two more high rises on Roosevelt, between Indiana and Michigan, and that both would be fairly sizable. They are actually listed on Emporis as 1201 South Michigan and 1200 South Indiana and are 60 and 53 stories, respectively. If one of these buildings turned out to be 80 stories, that would be great though!

http://www.emporis.com/en/wm/cx/?id=100624

Chicago Shawn · #**1246** Posted **Mar 2, 2007, 6:07 AM**

Quote:

Originally Posted by Chi_Coruscant

That's good to hear the high rise tower behind 4th Pres is being resurrected from dead. I hope the tower's height will not be decreased just to appease the nimby crybabies living in that area.

A few weeks ago 42nd ward residents received a mailer from The coalition to protect Fourth Pres. Church. It stated that construction of the tower would "Severely jeopardize public safety and hurt the quality of life for homeowners of Washington Square, Connors Park, Streeterville and East Lake Shore Drive. Alderman Natarus stood with us, now its time to stand with him, vote Tuesday Feb. 27th Funny thing is, aside from the absurdly irrational NIMBY bullshit statement, there is no fourth pres coalition, and the return address came from The office of People for Naturas.

Anyway, I want this project to come back, but I fear the end result will be short, squat and uninspiring.

RE: Evanston,

I highly doubt we will see 50 stories in Evanston, my guess is since Focus knows the town and its NIMBY population, they likley only intend to put something in the vacinity of 35 stories, but the NIMBYs will have thier 'victory compromise' by knocking it down from 50, and thus the 35 story 'redesign' will sail on to construction.

Tom Servo · #**1247** Posted **Mar 2, 2007, 8:15 AM**

1. Park Michigan got approved? I think this might be one of the best projects out there right now and really wanna see this happen.
2. It wouldn't surprise me if the FARWELL BUILDING gets torn down. One day all of this city's history will be torn down and replaced. Everyone seems to love taller, cheaper, and shinnier buildings, don't they?
3. What's up with Park 1000? Are the Wabash buildings not gonna happen anymore?

BVictor1 · #**1248** Posted **Mar 2, 2007, 9:04 AM**

Quote:

Originally Posted by AdrianXSands

1. Park Michigan got approved? I think this might be one of the best projects out there right now and really wanna see this happen.
2. It wouldn't surprise me if the FARWELL BUILDING gets torn down. One day all of this city's history will be torn down and replaced. Everyone seems to love taller, cheaper, and shinnier buildings, don't they?
3. What's up with Park 1000? Are the Wabash buildings not gonna happen anymore?

The Park 1000 is about 70% or so sold. At least that is what I was told last week. They want to begin construction sometime this spring or summer. As for the 2 other building that were proposed for Wabash Avenue, they more than likely won't happen. That land was sold to East-West University, which I find strange, because I don't see how they could afford the property, but who am I?

Sir Isaac Newton · #**1249** Posted **Mar 2, 2007, 2:37 PM**

Quote:

Originally Posted by AdrianXSands

1. Park Michigan got approved? I think this might be one of the best projects out there right now and really wanna see this happen.
2. It wouldn't surprise me if the FARWELL BUILDING gets torn down. One day all of this city's history will be torn down and replaced. Everyone seems to love taller, cheaper, and shinnier buildings, don't they?
3. What's up with Park 1000? Are the Wabash buildings not gonna happen anymore?

Park Michigan didn't get approved yet....I was just saying that I hope it does!

DANTHEDISCOMAN · #**1250** Posted **Mar 2, 2007, 3:24 PM**

Quote:

Originally Posted by honte

March 01, 2007
By Thomas A. Corfman
http://chicagobusiness.com/cgi-bin/news.pl?id=24056

Developer looks to settle dispute over River North plan

Mr. Stanley, who is also principal in PS Promotions Inc., first proposed a condo tower in 2002 for a site he controls at State and Huron streets. In the current version of the project, called Huron Club, the 28-story tower would have just 74 units, according to the Web site for the proposals.

I really like this tower. Really help add to the canyon effect that is lacking from Huron north on State

Steely Dan · #**1251** Posted **Mar 2, 2007, 3:29 PM**

Quote:

Originally Posted by Chicago Shawn

RE: Evanston,

I highly doubt we will see 50 stories in Evanston, my guess is since Focus knows the town and its NIMBY population, they likley only intend to put something in the vacinity of 35 stories, but the NIMBYs will have thier 'victory compromise' by knocking it down from 50, and thus the 35 story 'redesign' will sail on to construction.

that's an incredibly plausible scenario, but don't say it out loud and let the NIMBYs get clued in, it's very important to make them feel like they "won" in these situations

VivaLFuego · #**1252** Posted **Mar 2, 2007, 3:30 PM**

Quote:

Originally Posted by honte

Special Meeting of the Landmarks Commission:

FARWELL BUILDING WARD 42
664 N. Michigan Avenue

Review of Revised Pre-Permit Submission and Recommendation to
City Council to Approve the Dismantlement, Demolition, Repair
and Reconstruction Pursuant to Sec. 2-120-770 of the Municipal Code

Date: Thursday, March 8, 2007

Location: Cook County Commission Board Room, 118 N. Clark St., 5th Floor

Time: 9:00 a.m.

If they preserve the facade, gut the building but replace the interior with usable space (offices? amenities for residents?), I think most people would be ok with the plan......it's the fact that they wanted to just slap the facade on a parking garage fronting Michigan Avenue that is so insulting.

honte · #**1253** Posted **Mar 2, 2007, 6:08 PM**

Quote:

Originally Posted by BVictor1

What I find interesting is that this is almost the same size plot of land that the spire will sit on, and this is about the same price that he couldn't come up with before.... How's he going to possibly pull this off? Do you think his partner has enough clout to get this deal done?

Interesting to say the least.

Hey BVictor,

Yeah, I thought exactly the same thing - actually, I think I posted those thoughts somewhere around here.

I just looked at the print version of Crains, though, and this parcel is actually quite huge compared to the Spire site. It's pretty interesting that the LSD / riverside parcel would command such a higher price. In any case, I think the price is a good sign for this deal - lenders would look more favorably on financing the site due to the price per square (if they want to do that), or at least their books will look a lot stronger to potential banks when it comes time to finance the tower, even if they don't subdivide the parcel.

Chicago3rd · #**1254** Posted **Mar 2, 2007, 6:24 PM**

Sorry to muddle up this space with my stupid question, but what is the crain up between Lakeshore drive and ParkWest going to be? Where Kraft use to be? Was sort of shocked...when we drove past it today and didn't expect it.

Sir Isaac Newton · #**1255** Posted **Mar 2, 2007, 11:08 PM**

One of my friends who was looking at condos at 1555 South Wabash recently told me that the sales agent said that construction should start this month. I checked out their website and it said the same thing...

http://newwestrealty.com/c/p/?cid=2&pt=2

Pandemonious · #**1256** Posted **Mar 3, 2007, 1:58 AM**

Something large is in the works.

DePaul Bunyan · #**1257** Posted **Mar 3, 2007, 2:06 AM**

Quote:

Originally Posted by Pandemonious

I expect another >1,000' tall previously unheard of proposal should be announced in the coming months. Sorry to drop this as an almost tease post, but I just wanted to give a heads up. I will say that it is not down near Roosevelt/Michigan area.

You bastard. Is it in Lakeshore East along Wacker? Is someone going to develop all of the vacant land along the river just south of the loop? Is this going to be Trump's rumored second Chicago skyscraper?

DANTHEDISCOMAN · #**1258** Posted **Mar 3, 2007, 2:39 AM**

Even a little rumbling of another possible 1000 footer deserves a dancin' banana,... no two!.

spyguy · #**1259** Posted **Mar 3, 2007, 2:51 AM**

Any hints on the architect? We can play a little hangman or Wheel of Fortune

_ _ _ ?

Mr Roboto · #**1260** Posted **Mar 3, 2007, 3:04 AM**

Aw man, thats like giving someone blue balls.

My guess is its in Lakeshore east. Truthfully, i just want whats on the table already to get built.