CHICAGO | Aqua | 858 FT / 262 M | 87 FLOORS - Page 217

spyguy · #**4321** Posted **Jan 18, 2009, 8:24 PM**

Various LSE updates

Aqua
- The hotel component still in the negotiation phase. Magellan has 2 -3 contenders to replace the previous contracted hotel vendor (Strategic - Fairmont Suites).
- Pedway, Grand Staircase and public elevator will be open to the public summer 09.

Village Market
- Magellan is currently working on securing a new, larger grocer as well as a few other restaurants and an extension of 5th 3rd Bank.
- Treasure Island is no longer the grocer. The new plan expands from the previous 30,000 square foot boutique grocery store to a proposed 50,000 square foot full service grocery store. At this point Magellan is in the final stages of negotiating the lease. Grocer will be announce as soon as we have a secure lease.
- Once we have signed leases for multiple tenants and final city permits Magellan will feel more confident about securing financing and breaking ground.
- Magellan feels the new permits will occur in late spring.

School
- As of today the school is on hold.
- Discussion with the city and the Chicago Public School District isto incorporate a K-4 or possiby a K-8 school at the base of a future high rise development.
- Funding and population are challenges.

EarlyBuyer · #**4322** Posted **Jan 18, 2009, 10:33 PM**

Thanks for the updates Jibba, harryc, Aqua Plumber & spyguy!

With regard the replacement grocer at the Village Market, it's my understanding it will not be Dominick's or Jewel; so that narrows it down a bit.

the urban politician · #**4323** Posted **Jan 18, 2009, 10:57 PM**

Maybe it will be Piggly Wiggly?

In all seriousness, I'm guessing Roundy's

EarlyBuyer · #**4324** Posted **Jan 18, 2009, 11:19 PM**

Yeah, Roundy's would be a good bet. How about Whole Foods?

I'm thinking the CVS lease at Aqua likely has a non-compete (Pharmacy services) clause in it. Whole Foods doesn't have Pharmacy services. Also, the architecture of the newer Whole Foods stores matches the general look of the Village Market.

Tom In Chicago · #**4325** Posted **Jan 19, 2009, 7:08 PM**

^What a disaster. . . the school and the market are long overdue and it sounds like we're going to get no school and a much larger grocer than we need in the area. . . and another bank branch??? What for?!?

. . .

the urban politician · #**4326** Posted **Jan 19, 2009, 9:44 PM**

Quote:

Originally Posted by Tom In Chicago

^What a disaster. . . the school and the market are long overdue and it sounds like we're going to get no school and a much larger grocer than we need in the area. . . and another bank branch??? What for?!?

. . .

^ I don't understand why a large grocer is a bad thing. Larger grocer=more variety. And what's wrong with bank branches? Every neighborhood needs them..

spyguy · #**4327** Posted **Jan 20, 2009, 12:51 AM**

Quote:

Originally Posted by the urban politician

And what's wrong with bank branches? Every neighborhood needs them..

There's already a Fifth Third bank at the base of the Shoreham and a Chase in 340OTP. But besides banks, a grocery store, and some restaurants, I wonder what kind of tenants they'll attract. Maybe a big box store?

trvlr70 · #**4328** Posted **Jan 20, 2009, 3:32 PM**

It sucks about the school. I know many young families specifically moved into LSE because of the proximity to the proposed new school. It was certainly one of the best selling points of the development.

Tom In Chicago · #**4329** Posted **Jan 20, 2009, 6:20 PM**

Quote:

Originally Posted by the urban politician

^ I don't understand why a large grocer is a bad thing. Larger grocer=more variety. And what's wrong with bank branches? Every neighborhood needs them..

Larger grocery store = more car traffic

Bank Branches = aside from the fact that there are already bank branches in that building (Chase), they already have a 5/3rd on the other side of the park. . . totally unnecessary. . . that space could be used for retail or restaurants. . . or anything that generates sales tax receipts for the city!

. . .

ardecila · #**4330** Posted **Jan 20, 2009, 7:22 PM**

In this market, Magellan can't afford to be picky with their retail tenants. If Fifth Third is willing to pay the rent, then they should get the space. Either LSE can sustain two locations a block apart, or it can't, and traffic will be spread too thin. In that case, Fifth Third will probably end up closing one location or the other.

photoLith · #**4331** Posted **Jan 20, 2009, 7:52 PM**

One of the only cities where a freakin 820 ft tower doesnt make an impact on the skyline. lol

Nowhereman1280 · #**4332** Posted **Jan 20, 2009, 8:09 PM**

Quote:

Originally Posted by Tom In Chicago

Larger grocery store = more car traffic

Where are people going to drive from to use this store? No one will come from north of the river since there is already Fox and Obel and Dominicks (which is a particularly big Dominicks) within a block from the north bank. No one is going to come from Illinois center because its not residential. No one is going to come from the loop since there is already two potential grocers going in at Carson Piere Scott and/or B37.

So unless people are planning on driving from 175 Harbor drive or something to get groceries, I just don't see traffic being any higher than it already will be.

Jibba · #**4333** Posted **Jan 21, 2009, 12:21 AM**

Quote:

Originally Posted by photolitherland

One of the only cities where a freakin 820 ft tower doesnt make an impact on the skyline. lol

Depends where you're at. Although, if we are taking the term "skyline" to mean the silhouette of the entire downtown and vicinity from afar, then yeah, it doesn't really make that much of an impact. But from certain areas within the city it makes quite the impact (much to my surprise):

From today:

Actually, Aqua makes quite the visual terminus for the eastward view corridor of the main branch, much more so than I had anticipated when the project was first announced.

EarlyBuyer · #**4334** Posted **Jan 21, 2009, 1:53 AM**

The total square footage of the Village Market will be 100,000. The revised grocer space is 50,000, so there's space for several 2,000-5,000 square foot retailers or another medium box retailer.

LSE is in need of a casual breakfast restaurant. Additionally, an ice cream shop (such as Cold Stone) as well as a Bar-B-Q (like Smoque), would be a hit.

Jibba · #**4335** Posted **Jan 21, 2009, 4:50 PM**

An informative article on Aqua published by the CTBUH was posted over at SSC. Among other interesting tidbits about the building, there is an explanation paraphrased from the Project Architect at Studio Gang, Mauricio Sanchez, about the balcony railings:

"Studio Gang Architects decided to use black painted steel balustrades to achieve the effect of them disappearing against the façade. A glass balustrade may have offered greater panoramic views and a translucent space perception but would have boosted the construction cost considerably. Thus the black steel balustrade was considered an acceptable solution."

Source: http://www.ctbuh.org/Events/StudyTours/AquaTowerTour/tabid/779/Default.aspx

There was a fair amount of conjecture about the railings before from a few posters here, but I have not heard from someone within Gang about them until this article. The entire article is worth checking out, and there are some fantastic photographs at the end of it.

10023 · #**4336** Posted **Jan 21, 2009, 5:04 PM**

Why is the school on hold?

I'd assume that it's not being built privately, so it can't be an economic decision on the part of Magellan. Can't Daley just call Obama and get him to send a little of that stimulus scratch his way for the LSE school?

EarlyBuyer · #**4337** Posted **Jan 23, 2009, 3:23 AM**

Photos taken by EarlyBuyer

EarlyBuyer · #**4338** Posted **Jan 23, 2009, 3:42 AM**

Photos taken by EarlyBuyer

EarlyBuyer · #**4339** Posted **Jan 23, 2009, 3:58 AM**

Photos taken by EarlyBuyer

EarlyBuyer · #**4340** Posted **Jan 23, 2009, 4:12 AM**

Photos taken by EarlyBuyer