CHICAGO | 1000M (1000 S Michigan) | 805 FT | 73 FLOORS - Page 99

SoLoop · #**1961** Posted **Nov 19, 2021, 4:29 PM**

Sidewalk fencing has gone up over the last two days along Michigan.

harryc · #**1962** Posted **Nov 19, 2021, 5:27 PM**

Nov 18 night

left of center · #**1963** Posted **Nov 19, 2021, 6:42 PM**

Anyone passing by there sometime today to get confirmation of earth moving/activity?

donnie · #**1964** Posted **Nov 19, 2021, 6:58 PM**

let's not jinx this one so i will wait for confirmation!

fingers,toes, and eyes crossed....

Razorback · #**1965** Posted **Nov 19, 2021, 7:52 PM**

Banana time should be reserved till the first resident moves in. LOL

Daprato Rigali · #**1966** Posted **Nov 20, 2021, 1:14 PM**

Quote:

Originally Posted by left of center

Anyone passing by there sometime today to get confirmation of earth moving/activity?

I live nearby and will try and get over there today.

Chisouthside · #**1967** Posted **Nov 22, 2021, 7:06 PM**

Walked by the site yesterday and I saw a few piles of construction material/metal parts neatly stacked.

SolarWind · #**1968** Posted **Nov 23, 2021, 1:51 AM**

November 22, 2021

February 11, 2020

Workers were digging in the vicinity of where the utility lines enter the site (picture above from Feb 2020)

kolchak · #**1969** Posted **Dec 1, 2021, 5:54 PM**

2PRUROCKS! · #**1970** Posted **Dec 1, 2021, 8:54 PM**

Normally the standard for this forum is to consider a building under construction when foundation work begins. In this case the building was put on hold after foundation work was complete. What would be the threshold to consider this to have resumed construction?

Steely Dan · #**1971** Posted **Dec 1, 2021, 8:56 PM**

^ news of the development team closing on a construction loan

Romero · #**1972** Posted **Dec 1, 2021, 9:03 PM**

CTBUH

I check the CTBUH Member Web Site at least once a day for an update on 1000M. As of a few minutes ago, they still list it as "On Hold".

Tony

the urban politician · #**1973** Posted **Dec 1, 2021, 9:10 PM**

Quote:

Originally Posted by Steely Dan

^ news of the development team closing on a construction loan

Schnoikens, where did you get this news?

Steely Dan · #**1974** Posted **Dec 1, 2021, 9:12 PM**

^ I didn't get any news, I was answering 2pru's question of what the threshold might be to move this project back to being "officially" U/C.

2PRUROCKS! · #**1975** Posted **Dec 1, 2021, 9:14 PM**

Quote:

Originally Posted by Steely Dan

^ news of the development team closing on a construction loan

I understand that that would give most of us a lot more confidence in this project being completed, but closing on a construction loan isn't the same thing as construction. The developer may close on a loan and not begin construction for months because they are waiting on permits or other issues. Conversely, they may start construction without a loan or at least without publicly announcing it which of course runs the risk of it stopping like happened here, but it still was under construction and some work was completed.

Steely Dan · #**1976** Posted **Dec 1, 2021, 9:27 PM**

^ fool me once, shame on you.

fool me twice, shame on me.

the urban politician · #**1977** Posted **Dec 1, 2021, 9:33 PM**

Quote:

Originally Posted by 2PRUROCKS!

I understand that that would give most of us a lot more confidence in this project being completed, but closing on a construction loan isn't the same thing as construction. The developer may close on a loan and not begin construction for months because they are waiting on permits or other issues. Conversely, they may start construction without a loan or at least without publicly announcing it which of course runs the risk of it stopping like happened here, but it still was under construction and some work was completed.

Foundation work + construction loan ALWAYS means construction has commenced

Construction loan by itself does not mean construction has commenced

Foundation work MINUS construction loan GENERALLY means construction has commenced

Foundation work followed by a long pause, then restarting WITHOUT a construction loan means "hold on for a sec, I'm going to watch this one a bit longer before nudging this into the 'under construction' category"

Capisce? Now go eat some fettucini

colemonkee · #**1978** Posted **Dec 1, 2021, 9:57 PM**

That's a good question. We don't often find ourselves in this position, so I would say once we see new structural components being added (rebar, cast-in-place concrete, etc.) vs. just utility work or pushing dirt/gravel around, we'll change the status back to Under Construction.

jpIllInoIs · #**1979** Posted **Dec 3, 2021, 8:26 PM**

Wasn't this the site that had One guy working on it for awhile. Now there is 2! So that's something.

r18tdi · #**1980** Posted **Dec 3, 2021, 9:19 PM**

Quote:

Originally Posted by jpIllInoIs

Wasn't this the site that had One guy working on it for awhile. Now there is 2! So that's something.

I believe you're thinking of 1101 S. Wabash where a single dude built the entire building in just three years.