Quote:
Originally Posted by PittsburghPA
I wasn't here in 2008 but it seems all of the statistics are showing that the residential market is still not satisfied. The commercial projects (110 N Wacker, Salesforce, OPO) have anchor tenants or large commitments already and the West Loop commercial built on spec are filling up long before they are even finished with construction.
I don't see how the two booms could be reminiscent of eachother
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Well, you may be about to find out...
Maybe not this year, but it's coming. So predictable when a free market has greedy developers and bankers. All these million dollar condos by the hundreds, is not a sustainable situation in Chicago. I just read in the article posted here that the Bennet 2 bedrooms are starting at a cool 2 million each. It goes up from there. Vista? 1000 S. Mich? Nema? Essex? OCS? Really?? Now throw in Tribune Tower, LSD whatever-its-called? And Amazon said piss off because your weather and crime suck. Okay. Let's see.
Also, can we talk about the term "anchor tenant"? What percentage of the massive WPS building is Salesforce occupying?
Call me dubious.