CHICAGO | Highrise Projects & Construction, v7

[BrickellBased]

Chicago construction focused article.

https://www.bloomberg.com/news/artic...n-construction

Office Towers Reshaped US Skylines. Now Construction Cranes Are Vanishing.
Few new buildings are going up, diminishing economic vitality
Slowdown is particularly pronounced in Chicago, Manhattan

By Isis Almeida and Miranda Davis
February 13, 2024 at 6:00 AM EST
Updated on February 13, 2024 at 8:42 AM EST
When Rahm Emanuel ran Chicago and wanted to boast about the health of the city, the then-mayor pointed to the number of construction cranes across the skyline — 60 at the end of 2017.

Almost five years after he left office, that number has dwindled to the single digits. There was just one groundbreaking on an office building last year, and zero are expected in 2024.

It’s a stark turnaround for the Windy City and a sign of its economic struggles as higher interest rates, inflation and weak demand for office space squelch appetite for new development.

[sentinel]

Originally Posted by BrickellBased

Chicago construction focused article.

https://www.bloomberg.com/news/artic...n-construction

Yeah, it sucks right now, but nothing lasts forever. What goes down eventually goes back up.

[Mr Downtown]

Construction restarted on 633 South LaSalle this morning. Will now be an ordinary apartment tower instead of a coliving project.

https://chicago.urbanize.city/post/m...-633-s-lasalle

[Ned.B]

Originally Posted by Mr Downtown

Construction restarted on 633 South LaSalle this morning. Will now be an ordinary apartment tower instead of a coliving project.

https://chicago.urbanize.city/post/m...-633-s-lasalle

Now we know what the extended delay was about.

[Randomguy34]

After more than 7 years, the hotel at 146 W Hubbard (430 N LaSalle) finally has pending permits. It's now slightly trimmed down to 16 stories, so this rendering is out of date.


https://rnrachicago.org/wp-content/u...lan-3-8-16.pdf

[mh777]

Found an updated rendering. Wow, this is exciting news! Have always wondered what the deal was with that parking lot in such a prime location. Now we just need another hi rise at Grand/Lasalle and this corridor will be all but filled out.



A blurb from the developer's website:

430 North LaSalle – Chicago, Illinois
17 Story Hotel Project featuring a Roof Top Lounge with amazing views of Lake Michigan and Chicago. 341 Room Hotel is in the River North area of Chicago.

SQ FT: 151,730
Completion Time: 2024

[Razorback]

According to the recent updates, this is the fifth hospitality project, all located in different neighborhoods. The other four projects include 193 N Columbus, where Cassion permits have been issued with no timeline updates yet (Lakeshore East); 1528 N Wells, where a Demolition Permit has been issued with no timeline updates yet (foundation permit issued in 2022) (Old Town); 777 W Chicago, where City Approval has been given on Revised Plans with groundbreaking "supposedly later this year" (River West); and 1016 W Lake Street, where City Council and Plan Commission Approvals have been granted with an expected groundbreaking this summer (West Loop - Fulton Market). It would be exciting to see action on all five projects by this time next year. Fingers crossed.

Resources:
Caisson Permits Issued For Parcel O In Lakeshore East - Chicago YIMBY
Demolition Permit Issued For 1528 N Wells Hotel Project In Old Town - Chicago YIMBY
Further Renderings Revealed As City Approves Revised Casino Plans - Chicago YIMBY
City Council Approves Hotel At 1016 W Lake Street In Fulton Market - Chicago YIMBY

Originally Posted by mh777

Found an updated rendering. Wow, this is exciting news! Have always wondered what the deal was with that parking lot in such a prime location. Now we just need another hi rise at Grand/Lasalle and this corridor will be all but filled out.



A blurb from the developer's website:

[BrickellBased]

There is also another proposal at 850 W Washington in Fulton for another CitizenM. I think their new location on Michigan is killing it.

https://chicagoyimby.com/2023/07/53727.html

Also another hotel as part of a major River West development near the Salvation Army building on Grand.

https://blockclubchicago.org/2022/10...official-says/

I haven't heard much about the latter development in a while though.

Originally Posted by Razorback

According to the recent updates, this is the fifth hospitality project, all located in different neighborhoods. The other four projects include 193 N Columbus, where Cassion permits have been issued with no timeline updates yet (Lakeshore East); 1528 N Wells, where a Demolition Permit has been issued with no timeline updates yet (foundation permit issued in 2022) (Old Town); 777 W Chicago, where City Approval has been given on Revised Plans with groundbreaking "supposedly later this year" (River West); and 1016 W Lake Street, where City Council and Plan Commission Approvals have been granted with an expected groundbreaking this summer (West Loop - Fulton Market). It would be exciting to see action on all five projects by this time next year. Fingers crossed.

Resources:
Caisson Permits Issued For Parcel O In Lakeshore East - Chicago YIMBY
Demolition Permit Issued For 1528 N Wells Hotel Project In Old Town - Chicago YIMBY
Further Renderings Revealed As City Approves Revised Casino Plans - Chicago YIMBY
City Council Approves Hotel At 1016 W Lake Street In Fulton Market - Chicago YIMBY

[r18tdi]

The redevelopment of 430 N. LaSalle was mired in a messy lawsuit for some time.
Pleased to see it's moving forward and another River North surface lot will go bye-bye.

[Randomguy34]

Originally Posted by Randomguy34

Sterling Bay is looking to upzone 345 N Aberdeen to build a 559 unit building, and then sell the land to a developer. That's certainly one way to make money

This development should probably have its own thread

345 N Aberdeen | 483 ft | 559 units | 225 parking

https://chicityclerkelms.chicago.gov...8-001DD806E058

[mh777]

Sterling Bay plans 45-story residential tower at 345 N. Aberdeen
The developer is also marketing the property for sale

Designed by Gensler, the new development will stand 45 floors tall, with 559 residential units, 20% or 112 of which will be set aside as affordable at an average of 60% AMI. The building will also provide 255 parking spaces and 559 bike parking spaces.

Just recently in January, news broke that Sterling Bay is looking to sell the property. While the motive behind selling the property is unclear, this proposed zoning change is a large part of the marketing for the property as the developer looks to offload the site. The marketing brochure has said that the rezoning is expected to be secured on or before the closing date of the land sale.

[Chi-Sky21]

Nice! That will look huge coming in on the Kennedy.

[r18tdi]

Kind of a shame that they're putting the vehicular entry/exit directly across from the new park planned just to west.

[ardecila]

Originally Posted by r18tdi

Kind of a shame that they're putting the vehicular entry/exit directly across from the new park planned just to west.

Yeah, but I kinda get why they had to. At least the loading dock is opposite on the Carpenter side. And the building appears to include a really generous setback on all 3 sides with a plaza-like sidewalk. That should be pretty nice... plenty of room for a restaurant with a sidewalk cafe.

[SolarWind]

February 8, 2024



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[SolarWind]

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[SolarWind]

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