CHICAGO | Boom rundown - everything over 12 floors. v5

[Marcu]

Originally Posted by jpIllInoIs

The Chicago condo market is not affected by the Suburban market.

And there are plenty of Metra stops in old suburban downtowns left for TODs.
Edgebrook is still 1-2 storeys, Old DT Glenview, Northbrook and Edison Park are likely choices. The unknown old subs like Berkely and Maywood would be awesome for new midrise condos. I even expect that Melrose Park and Bellwood will eventually get some interest. There is no shortage of good locations for TOD in the old suburban ring.

Edgebrook will never be anything over 1-2 stories unless gas gets up to 8$/gallon.

[BorisMolotov]

That is a good point. We'll likely see a lot more TOD in the future everywhere as gas prices continue to rise.

[SamInTheLoop]

Originally Posted by Alliance

Bad news...according to ChicagoShawn, the Arquitechtonica LSE tower will not break the 1000 ft mark.

Shawn also mentioned it won't come to market for another 5 months or so. I'm a bit surprised they would wait so long, as I believe Aqua is close to 90% sold. The trick to these master-planned developments is to keep product rolling continuously right along - as soon as one building is sufficiently sold, you launch the next right away. As Aqua's condos won't begin to deliver for probably 2.5 years (this is ample time to sell that last 10-15%), I would think they would want to get the next condo tower to market asap - I'm assuming they are aiming for a late 2010 delivery for the Arquitectonica building. So who here cares to boldly post a rendering? I know there are readers here who have something to post (I promise, I won't say a thing!)

[BorisMolotov]

^ Is this the next project in LSE, though, or is there another Lancaster-type one lined up next?

[honte]

^ I don't expect them to do any more "minor" Lancaster-type buildings unless the market begins to seriously soften.

[SamInTheLoop]

^ Neither do I - I think the economics of the development (along with the city's encouragement of tall and thin) are aligning to favor bigger (and hopefully badder too) structures...

Once the developers really hone in on what Aqua's actual returns will turn out to be, I think that project will be a grand slam financially. I may chide Loewenberg and his mandatory 8'8" ceilings, but these guys are very savvy developers, and I think if you can make a larger profit in some cases by building taller and the city is supportive, they are going to go after it huge...

Urban design-wise, I think the development will benefit by having fewer buildings, but taller and thinner ones. Perhaps only 12 instead of the originally planned 16, but lets see some 900 and 1,000-footers...

[VivaLFuego]

Originally Posted by SamInTheLoop

Shawn also mentioned it won't come to market for another 5 months or so. I'm a bit surprised they would wait so long, as I believe Aqua is close to 90% sold. The trick to these master-planned developments is to keep product rolling continuously right along - as soon as one building is sufficiently sold, you launch the next right away. As Aqua's condos won't begin to deliver for probably 2.5 years (this is ample time to sell that last 10-15%), I would think they would want to get the next condo tower to market asap - I'm assuming they are aiming for a late 2010 delivery for the Arquitectonica building. So who here cares to boldly post a rendering? I know there are readers here who have something to post (I promise, I won't say a thing!)

How much inventory do they have left in the Regatta and the Chandler?

[Alliance]

Originally Posted by SamInTheLoop

Urban design-wise, I think the development will benefit by having fewer buildings, but taller and thinner ones. Perhaps only 12 instead of the originally planned 16, but lets see some 900 and 1,000-footers...

I think the city would be wise by following that plan.

[alex1]

the suburban "mini-boom" talk is something I've been contemplating for a week now. How is it that an area of chicago that makes up over 5 million people does so little in terms of high-rises (especially outside of evanston).

Would be nice to see things change in the near future.

[spyguy]

Originally Posted by VivaLFuego

How much inventory do they have left in the Regatta and the Chandler?

Virtually nothing from what I recall.

[SamInTheLoop]

Walked by the Silver Tower site today - 2 Revcon cranes have been delivered...

[BVictor1]

Originally Posted by SamInTheLoop

Walked by the Silver Tower site today - 2 Revcon cranes have been delivered...

About time....

[Chicago92]

Does anyone know what is planned for the lot exactly to the west of Pizzeria Uno - Wabash & Grand?

The lot is fenced off and the little parking lot there is being torn up now.

Sorry if I have missed this if discussed before...

[Chicago Shawn]

Originally Posted by alex1

the suburban "mini-boom" talk is something I've been contemplating for a week now. How is it that an area of chicago that makes up over 5 million people does so little in terms of high-rises (especially outside of evanston).

Would be nice to see things change in the near future.

Restrictive zoning and NIMBYs who fight to keep it that way. Unless the irrational fear of high-rise buildings is overcome by many of these communities, do not expect any major boom of high-rise construction in the suburbs outside of Evanston.

[honte]

^^^^ I saw that Pizza Uno lot too.. but haven't heard a peep about what's up there.

Any development here would likely eliminate threat to the Pizza building for a teardown, so I would welcome just about anything.

[spyguy]

Originally Posted by Chicago Shawn

Restrictive zoning and NIMBYs who fight to keep it that way. Unless the irrational fear of high-rise buildings is overcome by many of these communities, do not expect any major boom of high-rise construction in the suburbs outside of Evanston.

You're mostly correct, except for Aurora. Aurora has a bunch of conversions or midrise buildings, but it is also planning a hotel/convention center and that HUGE East Bank project (that was approved IIRC).

[VivaLFuego]

Originally Posted by spyguy

You're mostly correct, except for Aurora. Aurora has a bunch of conversions or midrise buildings, but it is also planning a hotel/convention center and that HUGE East Bank project (that was approved IIRC).

This oozes suburban coolness, I hope the final project ends up something like this. I mean yeah some of the architecture is a tad po-mo, but I'll take this over McMansions anyday.

[i_am_hydrogen]

Taken today:

[Busy Bee]

^ Nice/

On another note, a new rendering of The St. Clair at Cityfront Plaza has been posted at YoChicago. Definitely an improvement over the older renderings.

[Alliance]

Its so thin