CHICAGO | Boom rundown - everything over 12 floors. v5 - Page 369

Eventually...Chicago · #**7361** Posted **Jun 1, 2008, 4:03 AM**

Quote:

Originally Posted by honte

I disagree. The site plan for this is fairly well developed already. I think as a long-term plan you can count on something of that nature happening. Obviously they need full approval etc, but I expect that to happen without much trouble.

Hey i'm with you man. Those central station dudes know what they're doing. I just don't expect any real noise to happen for at least a couple of years.

...or perhaps october 2009, say, after the IOC announces chicago as the olympic host?

cbotnyse · #**7362** Posted **Jun 1, 2008, 4:17 AM**

Quote:

Originally Posted by Eventually...Chicago

Hey i'm with you man. Those central station dudes know what they're doing. I just don't expect any real noise to happen for at least a couple of years.

...or perhaps october 2009, say, after the IOC announces chicago as the olympic host?

I think that is the key. If we don't get the bid, I'd be surprised to see this start construction within 5-10 years.

honte · #**7363** Posted **Jun 1, 2008, 4:27 AM**

^ Why? Central Station has had two or three towers on the market at a time for a good part of the last five years. Isn't it nearing full build-out? I don't think there are any sites left for towers aside from along GP, but I might be wrong.

If the market returns to anything comparable to where it's been, I think we might see something fairly soon on this. They could market a high-end building along Grand Park and possible smaller, mid-range buildings in the Gateway section at the same time.

cbotnyse · #**7364** Posted **Jun 1, 2008, 4:41 AM**

I just feel like the South Loop is too saturated as it is right now with so many units coming online at such a depressed time in the market. Its going to take a long time for demand to catch up with supply here. And I believe the Olympics would spur that needed demand for that area. Thats just my thoughts.

Mr Downtown · #**7365** Posted **Jun 1, 2008, 1:20 PM**

I don't understand the suggestion that the Olympics would have anything to do with development of Central Station. No one builds (or buys) a highrise condo unit for a two-week event, and the Olympic Village itself will throw a huge number of units on the market immediately afterwards.

Did Atlanta experience a housing boom of any kind in 1996? LA in 1984? A couple thousand new hotel rooms might get built downtown--and then hotel building will stop for a decade afterward while occupancies rebound.

cbotnyse · #**7366** Posted **Jun 1, 2008, 2:22 PM**

Quote:

Originally Posted by Mr Downtown

I don't understand the suggestion that the Olympics would have anything to do with development of Central Station. No one builds (or buys) a highrise condo unit for a two-week event, and the Olympic Village itself will throw a huge number of units on the market immediately afterwards.

Did Atlanta experience a housing boom of any kind in 1996? LA in 1984? A couple thousand new hotel rooms might get built downtown--and then hotel building will stop for a decade afterward while occupancies rebound.

I believe they did yes. I read a great article on the effects the games and housing, I'll try to find it. It certainly will add to the speculative fever around the area. If anything else, the Olympics will be one big advertisement for Chicago, and if people from all around the suburbs, state, country and world who visit like what they see, they may even want to own a condo here.

Alliance · #**7367** Posted **Jun 1, 2008, 2:59 PM**

Let us not forget that, putting 2 and 2 together, not ALL of these proposals are strictily residential. (LaGrange office tower)

the urban politician · #**7368** Posted **Jun 1, 2008, 3:17 PM**

Quote:

Originally Posted by cbotnyse

If anything else, the Olympics will be one big advertisement for Chicago, and if people from all around the suburbs, state, country and world who visit like what they see, they may even want to own a condo here.

^ I think I'm with Mr D on this one. I think suburbanites already know enough about Chicago without needing the Olympics. They have already in part fueled the recent condo boom, and I'm not sure how much more of them are really going to come out of hiding. If they want to be in Chicago, they either would have done so by now or are simply saving up for a down payment.

Regarding people from out of state, I don't really see why the Olympics would suddenly convince people to up & relocate to Chicago. There may be some increase in people investing in condos locally, I guess, but are more vacant units really a good thing for the city?

Eventually...Chicago · #**7369** Posted **Jun 1, 2008, 3:52 PM**

perhaps this discussion should move to the general development thread... i don't know

But if you look at the number of high rises that are just finishing up or will be finished in the next year and then add in that GP3 & GP4 will probably happen first, i think the south loop will need just a bit of time to grow as a neighborhood before another gigantic development starts. Let's get some more restaurants, more retail, let some of the new buildings fill up then its party time! I don't know that the south loop is too saturated yet, i think that it is just too young.

cbotnyse · #**7370** Posted **Jun 1, 2008, 4:34 PM**

Quote:

Originally Posted by the urban politician

I think suburbanites already know enough about Chicago without needing the Olympics.

you'd be surprised how sheltered many people from the suburbs are. I am surprised every time I talk to one. I am still telling people from the suburbs that Chicago is getting a 2000 foot twisting tower soon.

harryc · #**7371** Posted **Jun 1, 2008, 6:19 PM**

May 31

honte · #**7372** Posted **Jun 1, 2008, 6:45 PM**

^ Thanks, Harry. That one's definitely not working yet for me...

BVictor1 · #**7373** Posted **Jun 1, 2008, 11:32 PM**

Quote:

Originally Posted by honte

^ Thanks, Harry. That one's definitely not working yet for me...

That's cause it's a piece of shit.

The Wit from 05/21/08

SamInTheLoop · #**7374** Posted **Jun 2, 2008, 12:00 AM**

Quote:

Originally Posted by Alliance

Let us not forget that, putting 2 and 2 together, not ALL of these proposals are strictily residential. (LaGrange office tower)

An office tower as part of the project is pure fantasy - it won't happen. There's just no market for even a moderate amount of class A office space at this location, nor should there be. Remember that originally, Central Station was to include a substantial amount of Class A office space - not only was there no market for it, there was only a fairly minimal market for even small amounts of back office, or professional or doctor's offices. This market simply doesn't exist, despite the attractiveness of more of a truly mixed-use aspect to development in this area, it's just not in the right location for anything more than minimal office. Consider this - even in Lakeshore East there isn't a market for even one of the towers there to be office when originally that was the intention (and Lakeshore East is a dramatically better location for a Class A office tower than Central Station!)...

BVictor1 · #**7375** Posted **Jun 2, 2008, 12:37 AM**

05/31/08

Parkview West

ardecila · #**7376** Posted **Jun 2, 2008, 1:06 AM**

Quote:

Originally Posted by honte

^ Thanks, Harry. That one's definitely not working yet for me...

Well, I really like the scale and massing... It's definitely a really deft way to insert a high-rise into a neighborhood of 4-story apartment buildings. Harry's last shot makes the high rise look like it fits right in to the context.

Now, as far as detailing goes, I'm not sure those crazy windows are right for the neighborhood... but they haven't been installed yet.

jcchii · #**7377** Posted **Jun 2, 2008, 2:07 AM**

it will have a trader joe's though

Chicagoguy · #**7378** Posted **Jun 2, 2008, 2:38 AM**

So for the Central Station Proposals...when was that idea brought to the table because I thought they just planned to cover the tracks with a park? I think this is a much better idea because if they put a park there then there is no hope for this to get built in the future, plus I think in a couple years the market will be back to normal and demand for units like these will be high! It is prime lakefront property with great views of the city as well as the lake and Soldier Field!

Eventually...Chicago · #**7379** Posted **Jun 2, 2008, 4:51 AM**

the idea to cover the tracks is still on, with an undetermined timeline though. The track covering will take place from 12th to 15th and then the building development will start south of the first three museum park towers.

Although, with regards to the track cover north of roosevelt, considering how they are building the new station with it's principal access off of balbo, i think this could happen in the next year or two

Chicagoguy · #**7380** Posted **Jun 2, 2008, 5:04 AM**

Quote:

Originally Posted by Eventually...Chicago

the idea to cover the tracks is still on, with an undetermined timeline though. The track covering will take place from 12th to 15th and then the building development will start south of the first three museum park towers.

Although, with regards to the track cover north of roosevelt, considering how they are building the new station with it's principal access off of balbo, i think this could happen in the next year or two

So then they are planning to cover the tracks in Grant park as well? That would make it look so much better because right now those tracks on such and eyesore and really take away from the look of the park. It looks more like a railyard than a park sometimes! How soon is that planned to happen and what exactly are they thinking of doing?