CHICAGO | Boom rundown - everything over 12 floors. v5

[Rocket1]

Originally Posted by the urban politician

^ No, why would you say that?

EDIT: Unless this Lux Veritas guy is a reincarnation of Jeff Ayersman. But I doubt that...

Saying Countrywide will "likely" go bankrupt seems out of left field.

[Loopy]

Originally Posted by honte

^ TUP, I know where you got this, but what the hell is that? Is it April Fools' Day?

It's a cross posting from SSC. Here is the rest of the story:

http://www.skyscrapercity.com/showthread.php?p=14751623#post14751623

[honte]

^ Right, thanks Loopy. It just seems like we have a string of alarmist stuff being posted lately. I realize that we're in a tight lending situation. But to go from 1. a lender pulling out; to 2. a project being dead; to 3. all of the developer's projects being dead; to 4. the death of the developer; to, I don't know, say a total US market crash (except in poster's city of residence), all in one post...

On the X/O project, I doubt we'll even get to step two. Once the city backs down on the stupid downzoing thing, at least the first tower seems like a fine prospect to me. The sales figures in that tower were beyond the 60% mark.

[SamInTheLoop]

^ Yeah - I saw this guy's posts over at SSC. I'm skeptical he's anything of an insider, more likely just spouting off rumors, wild speculation, etc. If you're getting your detailed project knowledge from sales agents at dinner parties, you'll have to excuse me if I ask for a solid backup source or two...

[i_am_hydrogen]

Originally Posted by SamInTheLoop

^ Yeah - I saw this guy's posts over at SSC. I'm skeptical he's anything of an insider, more likely just spouting off rumors, wild speculation, etc. If you're getting your detailed project knowledge from sales agents at dinner parties, you'll have to excuse me if I ask for a solid backup source or two...

It's funny how much scrutiny is applied when the news is bad rather than good. What if he'd said the person with whom he'd spoke told him X/O was an absolute lock with sales going strongly. Would there still be the same level of skepticism?

[SamInTheLoop]

Originally Posted by i_am_hydrogen

It's funny how much scrutiny is applied when the news is bad rather than good. What if he'd said the person with whom he'd spoke told him X/O was an absolute lock with sales going strongly. Would there still be the same level of skepticism?

From me - yes, but I'm quite a skeptical character by nature. In general on a skyscraper forum, of course not. On the PDNA NIMBY Nation forum, I would say probably more...

[honte]

Originally Posted by i_am_hydrogen

It's funny how much scrutiny is applied when the news is bad rather than good. What if he'd said the person with whom he'd spoke told him X/O was an absolute lock with sales going strongly. Would there still be the same level of skepticism?

It depends, of course. I am basing my skepticism on the lack of data in his post, doomsday scenario, source, and the fact that we've had a steady amount of reporting from the X/O developer on the sales figures. Plus, it just defies logic that a self-respecting developer, with millions invested and decent sales, would just drop the project when his lender bails. These things happen, and you pick up and try another. Suing City Hall, which they have indicated they are prepared to do, is a lot more menacing IMO.

Now, if you're Garrett Kelleher and are starting the nation's tallest building without presales, yes, there is a lot more skepticism...

PS - TUP, I was just thinking about my earlier post - it was supposed to be jocular, not nasty - sorry if it reads the wrong way. Nothing negative directed at you.

[Alliance]

I don't see any reason to believe this X/O info. Chicago is not going to see many more projects if this sort of fear continues. It'll be the end of the BOOM. (alarmism about alarmism?)

Also, I found out that my brother has been working in Sullivan's Carson, Pirie, Scott and Company Building all summer. He assured me that is was still an asbestos filled POS on the inside, despite however cool I thought it was on the outside (he doesn't understand buildings). But, if anyone has any intelligent questions on the rennovation, I can try to get him to ask one of the PMs.

Needless to say I was jealous.

[wrab]

As for X/O - I'm naturally sceptical of source info that contains so many coincidences - overhearing a confidential conversation and being mistaken for someone else at a dinner party - coupled with the usual buzz about the tanking national housing market.....

As for Carson, Pirie, Scott - can't wait to see those picture windows opening up onto the store floor again - CPS had partitioned them off somewhat.

[10023]

Countrywide will be fine. Their stock will be pummeled as they take big EPS hits from bad loans for the next couple of quarters, but they're not going to go bankrupt.

[SamInTheLoop]

Originally Posted by 10023

Countrywide will be fine. Their stock will be pummeled as they take big EPS hits from bad loans for the next couple of quarters, but they're not going to go bankrupt.

^ Yeah - the baseless Countrywide tidbit was the biggest red flag for me that this guy was dealing in unfounded rumors and wild speculation.....

[10023]

Originally Posted by SamInTheLoop

^ Yeah - the baseless Countrywide tidbit was the biggest red flag for me that this guy was dealing in unfounded rumors and wild speculation.....

Exactly. If you can read this link without a password, I think I trust this source more than that guy: http://quicktake.morningstar.com/StockNet/san.aspx?id=203456&pgid=wwhome1a&lpos=Commentary

[Alliance]

Everyone's just so damn panicked about any building in Chicago right now, especially X/O.

Relax.

[2PRUROCKS!]

Some info I got on The Peshtigo:

Thank you for your interest in The Peshtigo!

The Peshtigo is LEED certified, (Leadership in Energy and Environmental Design), which promotes the development of buildings that are environmentally responsible, profitable, and healthy places to live. Amenities will include a 24-hour doorman, parking garage, outdoor pool and spa, fitness center and clubroom. The sales center will be open in September of this year, the ground-breaking is scheduled for early 2008, and delivery is slated for 2010.
You are already on our VIP List, which will ensure you receive invitations to the various VIP events we'll be hosting over the next few months.

The proposed pricing for the Peshtigo will be as follows:

1BR: 882 - 1,293 SF $480,000 - $641,000

2BR: 1,477 - 2,608 SF $730,000 - $1,760,000

3BR: 2,045 - 3,378 SF $995,000 - $2,280,000

Penthouses: 2,330 - 3,793 SF $1,631,000 - $2,775-000

Parking spaces are available starting at $45,000

The building will have a bent bar shape, 360 degree views, 57 floors and 358 condos. Perkins and Will is the architectural firm. The condos will have floor to ceiling windows that will be tinted a greenish blue color when viewed from the outside. When renderings are available, I will make certain you receive copies.

Please call me if you have questions.

Thank you again for your interest in the Peshtigo! I look forward to hearing from you!


Regards,

Patricia Gill
Marketing Consultant
Direct Dial: (312) 832-5573
Fax: (312) 379-0520

Email: [email protected]

[Alliance]

So we're guessing in the high 500's then? 570' 600' ish?

And it has blue-green glass, which will be welcome in the not-so-forward-looking Northside, but will it be glass curtainwall?

Or do we have to wait until next month for all of this info?

And what the heck is a bent bar shape?

[aaron38]

Originally Posted by Alliance

And what the heck is a bent bar shape?

Best info I could find defines "bar-shape" as a flat rectangular shape. I saw it applied to metal ingots, as well as to the typical monolithic cell phone or ipod shape.

So for a bent bar shaped building, my guess is a monolithic building like IBM, (but probably thinner), bent in the middle so that from above it looks like a chevron.

Makes sense for the lot, being due east of Lakepoint tower. The bent bar shape would give the units Northeast and Southeast lake views, instead of looking straight into Lakepoint tower.

I could be way off however. I'm an electrical engineer. I only play an architect on the internet.

[Tom In Chicago]

^That's basically what it looks like. . . although it's been a while since I've seen detailed renderings, and they may have changed since, I wasn't overly impressed. . . it was about as nice as Skybridge. . . for better or worse. . .

[Mojava]

Not sure if this belongs here as it may not be 12 floors but I saw signage on this site fir the first time the other day.

http://9westerie.com/

[Pandemonious]

^Nice find. It looks at least 12 floors with the parking and ground floor included. Looks to be replacing a sliver of a parking lot on State St. Doesn't look bad for an infill building IMO, and it is going for LEED.

[Rocket1]

Originally Posted by 2PRUROCKS!

Some info I got on The Peshtigo:

Thank you for your interest in The Peshtigo!

The Peshtigo is LEED certified.......

Where abouts is this project located?

(I didn't find it listed on Page 1 of this thread)