CHICAGO | Highrise Projects & Construction, v7 - Page 688

r18tdi · #**13741** Posted **Feb 26, 2019, 3:39 PM**

Quote:

Originally Posted by harryc

Feb 22

Crane base emplaced !

Looks like the rest of the crane is going up right now.

LouisVanDerWright · #**13742** Posted **Feb 26, 2019, 3:58 PM**

Quote:

Originally Posted by harryc

Watching the South Loop develop or the city in general in the last two cycles really opens your eyes to how stuff like Sheridan Road happened in the past. How did an area go from mainly single family mansions to canyons of poured in place concrete? A handful of developers went at it with the same proforma over and over again for a decade or two resulting in a repetitive radically changed landscape. This shot of the towers CMK has been slapping up on Wabash illustrates that perfectly as does the development of the South Loop as a whole. Hell, all the Ralph Johnson towers going up down there are eerily similar to what can be found in Edgewater.

Chicago added a tremendous number of towers between 1950 and 1980, it seems the period of 2000-20?? will be similar. Do we have another decade of frenetic skyscraper construction ahead of us?

PS: A buddy of mine has a condo in the building just to the North of the first set of towers CMK built in this photo. Aside from his sick balcony (visible in this shot) I'm jealous of his end table. He has a scrap I beam from the piles to the CMK towers that were left sitting during the crash. He used to let his dog out in the construction site while it was abandoned and one day decided to lug a trimmed pile tip complete with smashed end into his apartment. Now he uses it as his end table.

The Best Forumer · #**13743** Posted **Feb 26, 2019, 6:19 PM**

good updates.

harryc · #**13744** Posted **Feb 27, 2019, 1:24 AM**

Feb 22

harryc · #**13745** Posted **Feb 27, 2019, 1:47 AM**

Feb 22

Feb 25

harryc · #**13746** Posted **Feb 27, 2019, 2:12 AM**

Feb 15

pilsenarch · #**13747** Posted **Feb 28, 2019, 2:14 PM**

[QUOTE=harryc;8487345]Feb 25

[QUOTE]

it appears to me that they made a mistake with the spandrel glass... it should be significantly darker...

the urban politician · #**13748** Posted **Feb 28, 2019, 2:15 PM**

Second of two articles in 2 days discussing that despite all of the apartment construction downtown, absorption is so high that we will still have an apt shortage:

https://www.chicagotribune.com/business/...nt-shortage-ryan-ori-20190227-story.html

Let the boom live on......

Skyguy_7 · #**13749** Posted **Feb 28, 2019, 2:40 PM**

To give some perspective, I'm a contractor and our bid calendar for work that would begin in about 4 months, is showing 45 projects. At this time in 2011, it was 10 projects.

Vlajos · #**13750** Posted **Feb 28, 2019, 3:36 PM**

Quote:

Originally Posted by the urban politician

Second of two articles in 2 days discussing that despite all of the apartment construction downtown, absorption is so high that we will still have an apt shortage:

https://www.chicagotribune.com/business/...nt-shortage-ryan-ori-20190227-story.html

Let the boom live on......

Quote:

Originally Posted by Skyguy_7

To give some perspective, I'm a contractor and our bid calendar for work that would begin in about 4 months, is showing 45 projects. At this time in 2011, it was 10 projects.

It's crazy that we have absorbed so many projects so quickly. A couple of things struck me in the article:

"About 4,200 units are expected to be completed downtown this year, just shy of the record 4,348 units completed in 2017, according to Integra. Of the approximately 30,000 high-end in downtown Chicago, 46 percent have been completed since 2015."

46%? That's crazy.

"Political uncertainty and the state’s shaky finances already are causing some large institutional investors to step back on their acquisitions of residential towers in Illinois, DeVries said. That has the potential to drive down the sale price of Chicago buildings.

DeVries described real estate taxes as “a monster issue,” saying developers of new towers are forecasting annual taxes of about $5,000 per unit. That’s up from $3,000 to $3,500 in 2015, he said. Land and construction costs also are rising."

This is very concerning. RE Taxes typically are the largest cost in a properties operating expenses, but they are expecting RE taxes to skyrocket. That will almost certainly cause problems in the future. And $5K/unit is crazy high considering a lot of these units are studios and 1 Bds.

SIGSEGV · #**13751** Posted **Feb 28, 2019, 4:54 PM**

Let's get all the remaining parking lots on Wabash and State north of Roosevelt filled, please.

bnk · #**13752** Posted **Feb 28, 2019, 5:03 PM**

I didn't know a 18 story hotel was a high rise....

Jim in Chicago · #**13753** Posted **Feb 28, 2019, 6:24 PM**

Quote:

Originally Posted by Mr Downtown

Two theories on the 717 parking:

Perhaps the Palmer building will have a significant retailer for which the parking is attractive.

Or maybe Ald. King leaned on them to build more. She's very auto-focused, and said at her last town hall that she was very concerned about 633 S. LaSalle being built with no onsite parking. (Meanwhile, the garage at Alta Roosevelt sits half-empty.)

This development at 717 S. Clark is moving right along. The sidewalk barricades are in place but not quite closed off as of this morning. When I went past today there was a truck full of construction fencing on site.

IrishIllini · #**13754** Posted **Feb 28, 2019, 7:39 PM**

Quote:

Originally Posted by SIGSEGV

Let's get all the remaining parking lots on Wabash and State north of Roosevelt filled, please.

Potentially unpopular opinion, but I'd be happy to see Pritzker Park bite the dust

SIGSEGV · #**13755** Posted **Feb 28, 2019, 10:22 PM**

Quote:

Originally Posted by IrishIllini

Potentially unpopular opinion, but I'd be happy to see Pritzker Park bite the dust

Or it could be improved so that people other than the homeless have a reason to go.

BonoboZill4 · #**13756** Posted **Feb 28, 2019, 10:43 PM**

Quote:

Originally Posted by SIGSEGV

Or it could be improved so that people other than the homeless have a reason to go.

I feel like it's kind of impossible for a pocket park in an isolated and dark area of the city to get any usage other than homeless people(especially given its proximity to the library. I'd rather it be built into something useful, because I can't envision such a small plot being anything other than an impromptu camp/loiter/solicitation breeding ground.

Also, lol r18tdi. Perfect timing

BonoboZill4 · #**13757** Posted **Feb 28, 2019, 10:44 PM**

the urban politician · #**13758** Posted **Mar 1, 2019, 12:19 AM**

Quote:

Originally Posted by IrishIllini

Potentially unpopular opinion, but I'd be happy to see Pritzker Park bite the dust

^ suburban

bnk · #**13759** Posted **Mar 1, 2019, 12:54 AM**

https://www.chicagobusiness.com/commercial-real-estate/andaz-hotel-planned-river-north

https://www.chicagobusiness.com/commercial-real-estate/andaz-hotel-planned-river-north

February 27, 2019 11:50 AM |updated 9 hours ago

Andaz hotel planned for River North

It would be the first Chicago location for the luxury brand that Hyatt launched in 2007 but has rolled out sparingly since then.

….

developer is lining up a deal to bring Hyatt's luxury Andaz brand to Chicago at an 18-story hotel planned in River North.

Troy, Mich.-based Porritt Group is in talks with the Chicago-based hotel chain to plant the Andaz flag at 430 N. LaSalle Drive, where the developer aims to build a 199-room hotel on what is now a parking lot, according to sources familiar with the plans.

...

Ricochet48 · #**13760** Posted **Mar 1, 2019, 1:54 AM**

The two new buildings in that area of river north are almost the same size and in a very similar glass box style, but it will be nice to see the parking lots go!