CHICAGO | The Elysian | 686 FT / 209 M | 60 FLOORS | COM

[Dr. Taco]

Originally Posted by HighRiser

While always short on time to get involved in some big discussion, I will leave a few points of interest for you all to ponder. From the time a residential building starts to the time it is finished it is all about money. You could design a 700 foot building with stone,cast iron and all the old crafted ways of the turn of the century. Craftsmenship would be remarkable people would be envious of the wealthy buyers. As years go by and the building ages through the seasons and warranty items expire, maintenance will have to be done. Buildings owned by large corporations come to mind Tribune tower, Standard Oil, Channel 7 news building, you get the point, whos going to pay 10 20 30 million plus facade maintenance? Why of course the condo owners and their assessment fees. Now just use that one example of thinking and plug it into about 30 posts on this forumn and now you will know why things are built the way they are built.

thank you. so you're saying the buildings are constructed this way now because of how much buildings built in the past have deteriorated up until now? If costs are turned towards condo owners as you say, why would the condo owners care right now about how a building will be like in 30 or a 100 years? For that matter, why would the developer even care? As if he can't unload a well-built building for profit within 30 or a 100 years?

I've stayed out of this discussion in here pretty much, but I would say, Mods, if this is O/T, could you please move it to a worthy spot rather than delete? I guess my request goes for all posts in here. I think they are all good words (albeit a little tired and sometimes repeated) and arent worthy of the recycle bin

[APPRAISER]

Thanks Coloprecaster!! Very interesting! I like the diagram and photo as an example.

[Brian.]

Your Welcome

[HighRiser]

Why a developer would care is because its safe sales. 1) A lot a high end buyers are sort of name brand, repeat buyers moving from one previous development to another of the same developer. 2) People of the same social status and circles of the developer. Most buyers buying multi million dollar dwellings arent stupid to how association fees can impact property value and the wallet. One example is a building like 50 east chestnut 30 something high end units, 1 per floor, no hotel on lower floors to offset maintenance costs
approx. 25 to 30 percent sold after year after completion last time I checked. (This may have changed). Mind this is a brand new building single biggest reason I know of for people to buy at Elysian, Walton on Park, 10 East Delaware all a block from 50 east Chestnut instead of Chestnut is Association fees compared to similar units of cost and size. Same concept different look is people moving to suburbs. One man buys 300k home, another 360k home after 5 years first man home gone up 90% value, taxes in neighborhood goes up 5% due to proper urban planning. Second man home goes up 30% and taxes in neighbor hood go up 100% due to inproper urban planning. Since most people dont have money to burn buyers look to find property more like neighborhood one than two further progressing the trend. You dont have to micro anyalize my words of wisdom just remember nobody goes into a realestate deal buyer,developer,investor saying its a good day to piss money away. LOL

[aaron38]

[Dalton]

^ I recommend moving left around 260 kHz.

[Dr. Taco]

Originally Posted by Dalton

^ I recommend moving left around 260 kHz.

good man!

[pherek]

Does anyone know what's going on with this building across Walton St. from the Elysian site?

[Nowhereman1280]

^^^ They are doing some sort of ridiculous gut-rehab of it, I'm not sure why its taking so long though. I think Gino's (North? East? I can't remember which direction was there before) is going to move back in there when its done.

[trvlr70]

I love the courtyard. It will be a lovely space.

[the urban politician]

^ Agreed. It will be a "cute", "European-esque" courtyard worthy of a buggyride-by

[Alliance]

I also love the courtyard. If there is anything Chicago needs its a two story Vegas ripoff courtyard in the middle of city.

[dropdeaded209]

sarcasm works best with complete sentences.

[trvlr70]

Originally Posted by Alliance

I also love the courtyard. If there is anything Chicago needs its a two story Vegas ripoff courtyard in the middle of city.

Don't fret. Chicago's pollution and gloomy skies will guarantee that this looks better than stucco counterparts on the Strip.

[VivaLFuego]

While the courtyard a bit...schmaltzy (for lack of a better word), I think it adds something interesting and new to the streetscape in an area with many pedestrians.

[johnandahalf]

When I view the site from above using Google Maps, there's a DEEP pit on the northwest corner of the block, then the core of the tower on the northeast corner. What I don't understand is why they dug such a deep hole under the courtyard. If it's for parking, it seems like a pretty tight fit. Maybe it's just the scale I'm seeing it from.

ô¿ô

[Nowhereman1280]

^^^ The parking in this building is indeed underground, I believe it extends below the building itself as well...

[BVictor1]

07/12/08

[Breezyfingers]

[Rizzo]

Originally Posted by Nowhereman1280

^^^ They are doing some sort of ridiculous gut-rehab of it, I'm not sure why its taking so long though. I think Gino's (North? East? I can't remember which direction was there before) is going to move back in there when its done.

I agree, that project has been driving me nuts. The rehab should not be taking this long (from experience). I see floor joists appear on the inside, then disappear, then reappear, then disappear.