CHICAGO | Highrise Projects & Construction, v7 - Page 92

i_am_kyry · #**1821** Posted **Dec 1, 2015, 11:00 PM**

Quote:

Originally Posted by johneboy96

Does anyone know anything about this? Its that vacant lot along the river across the street from NBC along the river. It might be a student project?

http://www.al-ochsner.com/200-north-cityfront-plaza/

Hah, that's my buddy's work. It's not a realistic proposal, but he isn't a student either. He works for Goettsch.

Mr Downtown · #**1822** Posted **Dec 2, 2015, 12:50 AM**

Quote:

Originally Posted by r18tdi

Those suburban townhouses behind the crane really Rustles my Jimmies in a most uncomfortable way. Woof.
Who thought that was a good idea?

People who actually wanted to sell units and move on.

When Dearborn Park I was developed, there was simply almost no market for mid- and highrise units. A third highrise planned for north of Roosevelt was eventually cancelled, and the site in 1985 became townhouses. South of Roosevelt, the foundations for a Stanley Tigerman–designed midrise had actually been poured when about 1991 the developers decided they'd never sell the units and stopped, switched and built more townhouses there instead. Remember that the consortium that built Dearborn Park lost 59 cents of every dollar they put in.

Folks who think citymaking is like SimCity forget about carrying costs. Real developers who survive to do more than one project don't recklessly swing for the fences on every pitch. They pick the low-hanging fruit first: sites where the difference between current cost and potential value is greatest. And they choose a product mix that can actually be sold in a reasonable time frame, not what will look good on the skyline 20 years after they took bankruptcy on the project.

VKChaz · #**1823** Posted **Dec 2, 2015, 3:26 AM**

Quote:

Originally Posted by Mr Downtown

People who actually wanted to sell units and move on.

Which, ironically, is why we should be glad to see the empty land remaining south of the Loop....at least it isn't townhomes....and is available now for higher use.

scalziand · #**1824** Posted **Dec 2, 2015, 4:19 AM**

Quote:

Originally Posted by Ned.B

An 18 story Viceroy Hotel by Goettsch Partners. The Cedar Hotel facade is being disassembled and stored, and will be reconstructed as the podium for the new building.

Thank god it's going to be rebuilt. I was starting to fume when I saw the photos of it being demoed.

harryc · #**1825** Posted **Dec 2, 2015, 12:52 PM**

Dec 1

Skyguy_7 · #**1826** Posted **Dec 2, 2015, 2:06 PM**

^Great capture, Harry. Looks like you caught the T/O ceremony

SamInTheLoop · #**1827** Posted **Dec 2, 2015, 2:50 PM**

As reported in Crain's this morning, John Murphy has not only finalized a deal for a 198-room Cambria Hotel and Suites in the former office tower on top of the Oriental Theater, financing is wrapped-up ($50 million loan completed for the $62 million project) and construction/renovation work (if not formally already begun) is imminent, for a September 2017 opening of the hotel.

Excited about this one. Glad he went with a hotel instead of renovating and keeping as office space. No-brainer slam-dunk location for a hotel, and next best thing to having a hotel (in addition to residential) as part of the Block 37 tower......

LouisVanDerWright · #**1828** Posted **Dec 2, 2015, 2:55 PM**

Nice, this will further activate the NE Loop. I just love watching land use patterns change over time. The evolution of the city is a beautiful thing. Let's all look forward to exploring these newly revitalized assets for the city of Chicago. For those who like to 🞵🞵🞵🞵🞵 about rent growth, developers, and landlords, it's those kinds of economic changes that make it feasible to rework, restore, and repurpose our architectural heritage for the next generation. In this case no one is bitching because only small businesses and other low rent commercial users are being "gentrified" here. All you need to look at are projects like this or the Athletic Association, which, by the way, is an absolutely jaw droppingly nice project.

emathias · #**1829** Posted **Dec 2, 2015, 3:08 PM**

The start of fencing around Ed Dubevics has appeared, and they were digging a hole in the SE corner of the site this morning.

Jim in Chicago · #**1830** Posted **Dec 2, 2015, 3:26 PM**

Quote:

Originally Posted by Mr Downtown

People who actually wanted to sell units and move on.

When Dearborn Park I was developed, there was simply almost no market for mid- and highrise units. A third highrise planned for north of Roosevelt was eventually cancelled, and the site in 1985 became townhouses. South of Roosevelt, the foundations for a Stanley Tigerman–designed midrise had actually been poured when about 1991 the developers decided they'd never sell the units and stopped, switched and built more townhouses there instead. Remember that the consortium that built Dearborn Park lost 59 cents of every dollar they put in.

Folks who think citymaking is like SimCity forget about carrying costs. Real developers who survive to do more than one project don't recklessly swing for the fences on every pitch. They pick the low-hanging fruit first: sites where the difference between current cost and potential value is greatest. And they choose a product mix that can actually be sold in a reasonable time frame, not what will look good on the skyline 20 years after they took bankruptcy on the project.

Not only was there no market for high rises, "selling" people on living in that area has a hard job at the time. It was a virtual wasteland of unused railroad land leading to the closed Dearborn Station. As much as I hate the walling off of State and Clark streets, it was the development that got people living in the area, and includes a bit of needed park land.

Oddly, I was on the top level of the Target parking lot this week and looked over at the Dearborn Park area. What I saw was open space and trees and then the fast-developing row of high rises beyond it. For a second it reminded me a little of looking over Central Park in NYC and was actually quite stunning. It does provide a little relief. Not everything needs to be a high rise, and I'd be happy if they'd just tear down the blasted walls, and figure out a way to bring some life back to those streets.

There's actually a book on the politics behind the development which makes interesting reading. (and copies are on Amazon for $0.01.

http://www.amazon.com/At-Home-Loop-Commu...9477&sr=8-1&keywords=at+home+in+the+loop

Skyguy_7 · #**1831** Posted **Dec 2, 2015, 3:27 PM**

^Thanks for the recommendation. I just bought a copy! $4.00 total after shipping.

^^^ CAA is a true gem. I've been showing it to everyone I know. Speaking of hotels, apparently the 100 W Huron project, which I thought was going to be residential, is actually slated to be a Hilton flag, according to several bidders.

I think this is the latest rendering.

Near North Resident · #**1832** Posted **Dec 2, 2015, 3:47 PM**

Quote:

Originally Posted by Skyguy_7

^^^ CAA is a true gem. I've been showing it to everyone I know. Speaking of hotels, apparently the 100 W Huron project, which I thought was going to be residential, is actually slated to be a Hilton flag, according to several bidders.

totally, that bar on the 2nd floor is a great place to show people, the library area is so frickin cool

pilsenarch · #**1833** Posted **Dec 2, 2015, 4:51 PM**

Agree with both: CAA is awesome, the Cherry Circle Room is one of the best new restaurants in the city IMO, and the Lois Wille (two-time pulitzer winner) book on the south loop development is a MUST READ for anyone interested in the history of development in this city (anyone?.... anyone?...)

The Pimp · #**1834** Posted **Dec 2, 2015, 5:16 PM**

Quote:

Originally Posted by BVictor1

1136 S. Wabash Avenue
Developer: Keith Giles
Attorney: Rolando Acosta

320 units
6 units per floor
rental
100 -140 parking
1/2 units studios-160
81 one bedroom units
80 two bedroom units
26 stories
almost 300’
average 600 square feet
some micro units of 400 square feet
$2,000 per month
$1,300 up to $3,000
late first quarter 16 break ground???
19 month construction
$600,000 per year in taxes
DX-12

This is 🞵🞵🞵🞵!

ChiPsy · #**1835** Posted **Dec 2, 2015, 5:19 PM**

Quote:

Originally Posted by pilsenarch

...and the Lois Wille (two-time pulitzer winner) book on the south loop development is a MUST READ for anyone interested in the history of development in this city (anyone?.... anyone?...)

Affirmed -- great book. It's amazing how hard they had to fight to pull that off.

PS (edit): My goodness, though, she needs to get Amazon to edit her author description... If the doctorate is honorary, they shouldn't really be using it as part of her title -- or they should at least spell the words right... "Dr. Lois Wille Honarary Doctrate"

Grate buucke thouwgh

harryc · #**1836** Posted **Dec 2, 2015, 6:49 PM**

harryc · #**1837** Posted **Dec 2, 2015, 6:57 PM**

A belling bit and the rig used for pulling caisson sleeves out of the sticky clay.

ardecila · #**1838** Posted **Dec 2, 2015, 7:13 PM**

Quote:

Originally Posted by Mr Downtown

South of Roosevelt, the foundations for a Stanley Tigerman–designed midrise had actually been poured when about 1991 the developers decided they'd never sell the units and stopped, switched and built more townhouses there instead.

Interesting. Where was the site for this?

Maybe there is potential to buy out these townhouses and build up without the cost of a foundation. Probably there are restrictions in the PD or bylaws however.

Roosevelt at least should not be lined with the backs of townhouses, just as an urban design move.

Near North Resident · #**1839** Posted **Dec 2, 2015, 8:29 PM**

Quote:

Originally Posted by The Pimp

This is 🞵🞵🞵🞵!

Agree that thing looks like it belongs in Miami... in 2002

i_am_hydrogen · #**1840** Posted **Dec 2, 2015, 9:14 PM**

^Yes, it is. Was it designed by SCB? That's what it looks like to me. Very similar to Block 37.