CHICAGO | Boom rundown - everything over 12 floors. v5 - Page 22

BVictor1 · #**421** Posted **Apr 18, 2007, 11:04 AM**

http://www.chicagotribune.com/business/chi-0704170573apr18,0,6222200.story?coll=chi-business-utl

INSIDE COMMERCIAL REAL ESTATE

Sales brisk for planned Lincoln Park 2520 condo development

BY SUSAN DIESENHOUSE
Published April 18, 2007

After just three weeks of public marketing, 104 of the 314 units in the first large condo building planned for Lincoln Park since the 1970s are under purchase agreements with 10 percent deposits, said the developer, John T. Murphy, co-principal of Ricker-Murphy Development LLC.

Despite a slowing housing market elsewhere, the units at Lincoln Park 2520, located at 2520 N. Lakeview Ave., have sold for $825 to $1,200 a square foot, or $750,000 to $9.9 million per condominium. Ricker-Murphy's partner is an affiliate of the General Electric Pension Trust.

By year's end, construction should start on the building designed by Lucien Lagrange. Occupancy is planned for early 2010.

The approximately $355 million building, which will have parking for 710 cars, will face the park and have views of the lake and the city skyline.

firstcranialnerve · #**422** Posted **Apr 18, 2007, 11:05 AM**

Does anyone know Fioretti's stance on super talls?? I hope he doesn't cave to the Nimbys and helps the Park Michigan get built. Along with the New Intercontinental its one of my favorite proposals.

It could be a good thing, as with the exit of Natarus, who allowed the construction of the absolutley HIDEOUS Fairbanks (Frankenstein) at cityfront plaza . Anyone know when they plan to break ground on the Cityfront Plaza II and III?

Eventually...Chicago · #**423** Posted **Apr 18, 2007, 11:37 AM**

One of Fioretti's campaign slogans (along with, "see how many women's groups support me despite accusations of past harassment") was that he didn't take any contributions from developers. I was pretty nervous that he was going to be incredibly anti development. I sent him an email expressing my support for more quality development in the ward and that it is incredibly dangerous to not allow new construction to happen.

About an hour later he actually called me and said he agreed with me. He said that he fully supports new development in the ward, he just feels that haithcock got to chummy with developers to weigh the pros & cons of each individual development. I tried to pry an answer about x/o out, but he didn't seem to want to talk a whole lot about past building/zoning decisions.

So i don't know how much to believe or expect support for new super projects. He seemed a little squirrelly but, overall i think he will mostly be a rubber stamp and not cause too many problems. After all, isn't the 2nd daley's home ward? Hopefully we'll see a supertall proposed for the roosevelt, michigan, indiana site soon!

VivaLFuego · #**424** Posted **Apr 18, 2007, 2:25 PM**

Quote:

Originally Posted by BVictor1

http://www.chicagotribune.com/business/chi-0704170573apr18,0,6222200.story?coll=chi-business-utl

INSIDE COMMERCIAL REAL ESTATE

Sales brisk for planned Lincoln Park 2520 condo development

BY SUSAN DIESENHOUSE
Published April 18, 2007

After just three weeks of public marketing, 104 of the 314 units in the first large condo building planned for Lincoln Park since the 1970s are under purchase agreements with 10 percent deposits, said the developer, John T. Murphy, co-principal of Ricker-Murphy Development LLC.

Despite a slowing housing market elsewhere, the units at Lincoln Park 2520, located at 2520 N. Lakeview Ave., have sold for $825 to $1,200 a square foot, or $750,000 to $9.9 million per condominium. Ricker-Murphy's partner is an affiliate of the General Electric Pension Trust.

By year's end, construction should start on the building designed by Lucien Lagrange. Occupancy is planned for early 2010.

The approximately $355 million building, which will have parking for 710 cars, will face the park and have views of the lake and the city skyline.

Which goes to show that Chicago Spire prices might not be too outrageous for the Chicago market.

But blech, 314 units with 710 parking spaces? I know it's a luxury building, but come on!

Chitown · #**425** Posted **Apr 18, 2007, 5:44 PM**

Quote:

Originally Posted by the urban politician

Not sure if this was already posted, but it was in the latest edition of Crains. Go Bob O'Neill!

http://www.chicagobusiness.com/cgi-bin/mag/article.pl?article_id=27593
Letters to the editor

Development keeps city dynamic, competitive
Aldermanic elections and run-offs create anti-development rhetoric.

<snip>

Wow, that's awesome! Well-stated by Mr. O'Neill! I wonder if people who are anti-development realize they're pro-extinction.

spyguy · #**426** Posted **Apr 18, 2007, 8:32 PM**

Quote:

Originally Posted by museumparktom

New York Times Article yesterday

How old is that article? The reason I ask is that they mention converting it into apartments, while the recent Crain's article says that it will be a hotel.

museumparktom · #**427** Posted **Apr 18, 2007, 8:41 PM**

Quote:

Originally Posted by spyguy

How old is that article? The reason I ask is that they mention converting it into apartments, while the recent Crain's article says that it will be a hotel.

Spyguy: Went back to the Google search and its way old. 10 years old believe it or not. Published: May 12, 1996. The Crain's article must be his latest plan and the guys that let me in were definitely talking about a boutique hotel. It's amazing that they held it this long.

honte · #**428** Posted **Apr 18, 2007, 8:55 PM**

^ Bummer. So Vinci is not confirmed on this one yet. Darn. Good catch, Spyguy.

OK, back to crossing fingers we get something good here.

brian_b · #**429** Posted **Apr 18, 2007, 9:19 PM**

Did this get noticed yet?

This afternoon I saw a soil testing rig drilling into the parking lot immediately east of the Allure at K Station construction site. It's gotta be the next of those Fifield apartment towers???

There were two people working on it, and they were definitely drilling.

kayosthery · #**430** Posted **Apr 18, 2007, 9:28 PM**

I'm sorry I don't have the time to search the thread, but does anyone know what is being proposed for 319 E. Illinois? I believe it is the parking lot to the South of River East.

honte · #**431** Posted **Apr 18, 2007, 9:44 PM**

^ That sounds like the new Reschke / Carley tower (rumored 70+ stories). Did something "cross your desk?"

Sir Isaac Newton · #**432** Posted **Apr 18, 2007, 9:59 PM**

Not 100% sure if they will be 12+ stories or not, though...

http://www.greenfestivals.org/component/option,com_mtree/task,recommend/link_id,1677/Itemid,2/

eco18 is the result of uncompromising enthusiasm for green building by Dynaprop Development Corporation. eco18 will be one of Chicago’s most technologically advanced residential green projects. eco18 consists of two tastefully designed towers composed of 186 units being built in two phases. Unlike most other condominiums in Chicago, eco18 will be pursuing LEED Gold Certification. eco18 will include an accessible green rooftop, recycled materials, water conserving technology, and both energy conserving solar thermal and geothermal technology. Located in the South Loop of Chicago, eco18 invites you to visit the on-site sales center and furnished model (1832 S. Wabash), representing this forward thinking project!

SamInTheLoop · #**433** Posted **Apr 18, 2007, 11:34 PM**

Quote:

Originally Posted by brian_b

Did this get noticed yet?

This afternoon I saw a soil testing rig drilling into the parking lot immediately east of the Allure at K Station construction site. It's gotta be the next of those Fifield apartment towers???

There were two people working on it, and they were definitely drilling.

It must be - that is exactly where the next tower will be - 36 stories, 422 apartment units, hopefully not another "contemporary deco" design from P+H...

SamInTheLoop · #**434** Posted **Apr 18, 2007, 11:39 PM**

Quote:

Originally Posted by Sir Isaac Newton

Not 100% sure if they will be 12+ stories or not, though...

http://www.greenfestivals.org/component/option,com_mtree/task,recommend/link_id,1677/Itemid,2/

eco18 is the result of uncompromising enthusiasm for green building by Dynaprop Development Corporation. eco18 will be one of Chicago’s most technologically advanced residential green projects. eco18 consists of two tastefully designed towers composed of 186 units being built in two phases. Unlike most other condominiums in Chicago, eco18 will be pursuing LEED Gold Certification. eco18 will include an accessible green rooftop, recycled materials, water conserving technology, and both energy conserving solar thermal and geothermal technology. Located in the South Loop of Chicago, eco18 invites you to visit the on-site sales center and furnished model (1832 S. Wabash), representing this forward thinking project!

I'm very encouraged to see more residential developers going for LEED ratings in addition to office.....however, here's to hoping this is not only an environmentally advanced design but also an aesthetically advanced one....I've found that when developers describe their projects as "tastefully designed", they're usually anything but...

SamInTheLoop · #**435** Posted **Apr 18, 2007, 11:42 PM**

Quote:

Originally Posted by honte

^ That sounds like the new Reschke / Carley tower (rumored 70+ stories). Did something "cross your desk?"

It would be nice to have one of these taller high-rises in South Streeterville (obviously apart from a little tower called CS) to move forward soon - whether it's the Reshke/Carley project, 560 Fairbanks, or the tallest of the Cityfront Plaza towers...

honte · #**436** Posted **Apr 19, 2007, 12:32 AM**

Quote:

Originally Posted by SamInTheLoop

I'm very encouraged to see more residential developers going for LEED ratings in addition to office.....however, here's to hoping this is not only an environmentally advanced design but also an aesthetically advanced one....I've found that when developers describe their projects as "tastefully designed", they're usually anything but...

Yes, exactly. It seems that on many of these Green projects, the money going into the "green" column has been subtracted from the "architecture" column. 340 OTP and others are notable exceptions, obviously.

JV_325i · #**437** Posted **Apr 19, 2007, 1:42 AM**

Quote:

Originally Posted by Chicago Shawn

Hey folks,

I thought you would be interested to know that the Old Post Office on the agenda for the April Plan Commission is going to get raped. 800,000 square feet of structure will be removed along with nearly the entire west facade. You know the US POST OFFICE engraving above I-290, well kiss everything above it goodbye. The remainder of the west facade between the two towers will converted to a parking garage. And it gets worse, the old loading dock areas along Canal street will be turned into surface parking!

Come speak out against it if your pissed.

And here is the kicker, they want LEED certification even though they are sending 800,000 of floorspace to a landfill.

For some reason I was absolutely SURE that they wouldn't be able to ruin that beautiful building like that. That really pisses me off. What the hell are the people responsible for this thinking?

Tom In Chicago · #**438** Posted **Apr 19, 2007, 1:43 AM**

Sorry for the late response, bvt I've been bvsy. . . the Chicago Motor Clvb Bvilding is my favorite art-deco building in Chicago. . . I was going to bvy it and rennovate it into a bovtiqve hotel, but now that someone else has the jvmp on me I'm glad someone else is taking it on since my plate is fvll at the moment. . .

i_am_hydrogen · #**439** Posted **Apr 19, 2007, 1:49 AM**

Quote:

Originally Posted by Tom In Chicago

Sorry for the late response, bvt I've been bvsy. . . the Chicago Motor Clvb Bvilding is my favorite art-deco building in Chicago. . . I was going to bvy it and rennovate it into a bovtiqve hotel, but now that someone else has the jvmp on me I'm glad someone else is taking it on since my plate is fvll at the moment. . .

Did your "u" key break?

spyguy · #**440** Posted **Apr 19, 2007, 2:04 AM**

He's trying to get all old fashioned on us, with his fancy Art Institvte and Civic Opera Hovse.