CHICAGO | One Chicago | 971 FT & 574 FT | 78 & 49 FLOORS

[BVictor1]

Originally Posted by Chicago E

Okay sort of a stupid question but an older friend who grew up in the old neighborhood west of this site told me that the lot across from Holy Name Cathedral was the site where Dion O'Banion was gunned down in his flower shop in the 1920's which began the rise of the Capone era. Can anyone confirm that this is the same site? If so, the developer and leasing agents need to open up some type of flower establishment in the building. Would only seem fitting..….Thanks to anyone that can confirm.

True story...

[the urban politician]

^ Well, if there is a grocery store coming to the development then I'm sure they will sell flowers....

[aaron38]

Originally Posted by Chicago E

Okay sort of a stupid question but an older friend who grew up in the old neighborhood west of this site told me that the lot across from Holy Name Cathedral was the site where Dion O'Banion was gunned down in his flower shop in the 1920's which began the rise of the Capone era. Can anyone confirm that this is the same site? If so, the developer and leasing agents need to open up some type of flower establishment in the building. Would only seem fitting..….Thanks to anyone that can confirm.

From way back on Page 17 of this thread:

Originally Posted by headcase

According to the site that picture comes from (NationalCrimeSyndicate.com), he was infact killed in the back room...



SSDD

[Suiram]

Would not be surprised if someone comes up with a concept called Dion's or O'Banion's. Just doubt it will be a flower shop. More likely a new american gastropub / table service eatery / farm-to-table.

Am I only one that is starting to worry...spidey sense is going off. If this really starts construction next year, along with Tribune and 400 LSD...and now possibly WPS.

Just feels like TOO many supertalls...asking for a collapse.

Edit: was mocking the typical new popular restaurant above...but a flower shop speakeasy would be a kind of cool idea...

[Chicago E]

Great suggestion Suiram! A restaurant or some kind of eating/drinking establishment with the name of O'Banions would be absolutely and historically vogue. Isn't there or was there a bar called O'Banions near the Rush Street area?

[the urban politician]

Originally Posted by Suiram

Am I only one that is starting to worry...spidey sense is going off. If this really starts construction next year, along with Tribune and 400 LSD...and now possibly WPS.

Just feels like TOO many supertalls...asking for a collapse.
...

Your spidey sense is right but I don’t know why you’re worried.

If they all started construction at once, then yes, we’d have problems, but that’s just not gonna happen. Vista is halfway done, OCS starts in January 2019, WPS is office and would only go forward with a major anchor tenant anyhow, and Tribune and 400 n LSD are both probably still another year or two away, if that.

[Bombardier]

^Agreed. Plus absorption is seemingly keeping up with the new supply for now. That said, something is bound to happen that will bring the up cycle to an end.

[BuildThemTaller]

Originally Posted by Bombardier

^Agreed. Plus absorption is seemingly keeping up with the new supply for now. That said, something is bound to happen that will bring the up cycle to an end.

Predicting the market is a fool's errand. The current cycle will most certainly end. No one knows when.

I remember sitting in an economic briefing with a moderately well-known economist in December 2008, when the severity of the downturn was starting to be grasped by lay people, that scoffed at the notion that it would be a severe or long recession because the labor market didn't look bad at the time. A year later, it was nearly 10% unemployment. That guy still has a job.

[LouisVanDerWright]

People forget economic crises which causes the next one, no one has forgotten 2008 yet and that memory has actually played a major role in keeping this long expansion from running amok.

On the flip side people also forget just how prolonged and intense booms can be. In the wake of the Great Depression while experiencing a major demographic boon, the US grew basically from 1940 until the early 1960s with pretty much no serious recessions. We are very much in a similar situation where you have a huge number of millennials entering their prime consumption, household formation, and reproductive years while also seeing massive wealth transfer from their Boomer parents as they are starting to die off. On top of that pretty much everyone who was going to go bankrupt or lose their property did between 2008 and 2012. There has only been about 5-6 years for people to really start accumulating bad decisions and bad debts, there will be another correction, but recessions are like wildfires, it takes a while for the undergrowth to build up again after a large canopy fire. This is why regular minor recessions are considered a sign of a healthy economy because they blow out most of the really bad decisions while not letting the damage jump to the canopy and burn down major institutions.

[marothisu]

The economy will no doubt take a downturn sometime in the near future. How big is anybody's guess and also when. I was in a meeting the other day with the former CFO for my company (note: my company is well known and huge) and he actually brought this up and said "Sometime in the next 0 to 5 years" LOL. Guess he has himself covered in case it happens next week.

[lakeshoredrive]

It's going to be fun to see two buildings going up at the same time!

[Bombardier]

^ No doubt! It is actually like 3 major projects in 1. A full city block 14 stories of structure including underground with almost 1 MSF plus 2 substantial towers, one super tall, for another 1 MSF. It will be exciting to watch this take shape for the next 4 years!

[Notyrview]

No doubt. Even a 690 footer in river north is a big deal, especially a glass one

[left of center]

^ Agreed. Its going to do wonders pushing the skyline west from the Michigan Ave canyon. Definitely a game changer for the area.

[The Best Forumer]

Not too bad... very massive. overall nice...

[AMWChicago]

Do you know what I wish but won't likely happen? Underground access to Red Line from inside the building. That would be really cool, and very Ny-esque.

[Notyrview]

^+1 would be super cool

[SIGSEGV]

Yeah then they could advertise that you can go to Cancun (or much of the Loop) without stepping foot outdoors.

[MultiModal]

Originally Posted by AMWChicago

Do you know what I wish but won't likely happen? Underground access to Red Line from inside the building. That would be really cool, and very Ny-esque.

I actually asked this question during the community meeting and was told no. Seems like a missed opportunity.

[HomrQT]

Originally Posted by AMWChicago

Do you know what I wish but won't likely happen? Underground access to Red Line from inside the building. That would be really cool, and very Ny-esque.

That would be a huge boost to the demand of the building.