CHICAGO | Highrise Projects & Construction, v7 - Page 965

SamInTheLoop · #**19281** Posted **Aug 17, 2021, 4:08 AM**

Quote:

Originally Posted by gebs

The second project listed here?

Link (Curbed)

That's it.

SIGSEGV · #**19282** Posted **Aug 17, 2021, 4:21 AM**

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Originally Posted by ardecila

and the heliport can be redeveloped

Can't they just move the heliport to the roof of the Costco? Only kind of kidding...

sentinel · #**19283** Posted **Aug 17, 2021, 1:38 PM**

Quote:

Originally Posted by Randomguy34

Looks like the Illinois Medical District is being upzoned, and they're implementing parking maximums. For the entire 373 acres, that's a wild amount of units they can build. For C2-5, the maximum amount of units permissible (not including efficiency units) is of order ~80,000 units! It's doubtful they'll build anywhere near that amount, but even a fraction of that is tremendous

https://www.chicago.gov/content/dam/...1921_FINAL.pdf

Glad this is happening - the IMD is currently a bit embarrassing, frankly. There is so much potential in that area - it could easily rival the Texas Medical Center in terms of being a world-class medical destination, if it wasn't for the bullshit politicking, pandering powers-that-be, whom are just straight-up morons. It's such a grossly mismanaged agency, it's shocking (well, perhaps not that shocking).

Randomguy34 · #**19284** Posted **Aug 18, 2021, 1:54 PM**

345 N Morgan will be 178 ft, despite being 11 stories, so putting this in the highrise thread

Sterling Bay lands $100M loan for new Fulton Market offices

Quote:

Sterling Bay has scored a construction loan for a nearly $120 million office building in the Fulton Market District, a project that comes as the trendy corridor drastically outperforms the rest of the pandemic-stung downtown office market.

The Chicago developer last week closed on a debt package totaling roughly $100 million to begin work on an 11-story office building at 345 N. Morgan St., a Sterling Bay spokeswoman confirmed. The developer is holding a ceremonial ground-breaking tomorrow for the 200,000-square-foot project immediately north of the Ace Hotel and kitty corner from Google's Midwest headquarters.

Randomguy34 · #**19285** Posted **Aug 18, 2021, 2:53 PM**

Additional renderings on the project's website really show how far west the skyline is extending

https://345nmorgan.com/

west-town-brad · #**19286** Posted **Aug 18, 2021, 5:41 PM**

Quote:

Originally Posted by sentinel

Glad this is happening - the IMD is currently a bit embarrassing, frankly. There is so much potential in that area - it could easily rival the Texas Medical Center in terms of being a world-class medical destination, if it wasn't for the bullshit politicking, pandering powers-that-be, whom are just straight-up morons. It's such a grossly mismanaged agency, it's shocking (well, perhaps not that shocking).

very true however unlike Tex we already also have one (maybe two) other world class medical destinations in the city: Northwestern and UofC

BVictor1 · #**19287** Posted **Aug 18, 2021, 5:43 PM**

Chicago Plan Commission has been postponed for the funeral of Officer French until Thursday, 08/26 at 9am.

OrdoSeclorum · #**19288** Posted **Aug 18, 2021, 11:55 PM**

Quote:

Originally Posted by west-town-brad

very true however unlike Tex we already also have one (maybe two) other world class medical destinations in the city: Northwestern and UofC

Well, the Houston medical center has UTHSC, MD Anderson, Texas Womans, Baylor, Methodist, Rice, Texas Heart Institute, U o H and a bunch of other non-trivial orgs. It's a beast.

CaptainJilliams · #**19289** Posted **Aug 19, 2021, 1:34 AM**

Quote:

Originally Posted by OrdoSeclorum

Well, the Houston medical center has UTHSC, MD Anderson, Texas Womans, Baylor, Methodist, Rice, Texas Heart Institute, U o H and a bunch of other non-trivial orgs. It's a beast.

Oh it is for sure, I lived in Houston a few years and the Texas Medical Center could very well be its own city given its size. The TMC3 project is one of the most exciting developments there that will have buildings forming the shape of a double helix.

That being said, I think U.S. News and World Report ranked more Chicago hospitals in their Top 20 Honor Roll than they did for Houston.

SIGSEGV · #**19290** Posted **Aug 19, 2021, 1:39 AM**

Here's same scale satellite views of the two medical districts:

Rizzo · #**19291** Posted **Aug 19, 2021, 2:02 AM**

Quote:

Originally Posted by Randomguy34

345 N Morgan will be 178 ft, despite being 11 stories, so putting this in the highrise thread

Sterling Bay lands $100M loan for new Fulton Market offices

I've been divided on the design. From afar, it reminds me of a postmodern office building you would see in the suburbs. Maybe because of its bulkiness. But I saw a few up close renderings that show some attention to detail, so maybe it will come out OK. It would be amazing to have one of those offices with the arched windows, so I get why they are there even if it's a forced expression.

PittsburghPA · #**19292** Posted **Aug 19, 2021, 2:04 AM**

A lot of action at K3 site today. I didn't get a chance to snap a picture from my uber but will try to head over there when I get back in town this weekend.

OrdoSeclorum · #**19293** Posted **Aug 19, 2021, 2:54 AM**

Quote:

Originally Posted by SIGSEGV

Here's same scale satellite views of the two medical districts:

Houston is one of my least favorite places on the continent, but this doesn't really convey much information. The TMC employs 110,000 people and the IMD employs about 30,000.

SIGSEGV · #**19294** Posted **Aug 19, 2021, 3:42 AM**

Quote:

Originally Posted by OrdoSeclorum

Houston is one of my least favorite places on the continent, but this doesn't really convey much information. The TMC employs 110,000 people and the IMD employs about 30,000.

Sure, TMC is more built up right now, but there is enough room within IMD to build up to something of similar scale. MD Anderson at some point I believe was looking to expand to Chicago, but I guess that never happened: https://www.chicagotribune.com/busin...804-story.html IMD should be knocking on their door...

BruceP · #**19295** Posted **Aug 19, 2021, 6:29 AM**

Quote:

Originally Posted by OrdoSeclorum

Well, the Houston medical center has UTHSC, MD Anderson, Texas Womans, Baylor, Methodist, Rice, Texas Heart Institute, U o H and a bunch of other non-trivial orgs. It's a beast.

I thought this forum was about real estate, not quality medical care, so I think we're veering off into other territory. That being said:

We're talkin' apples and oranges here. For some historical reason, most major hospitals in Houston just happened to be located within the few square miles of the Texas Medical Center, while Chicago's major hospitals, for the most part, are not located in a single area - Northwestern/Rehab Institute/Lurie Children's on the Near North Side; U. of Chicago in Hyde Park; and Rush/U. of Illinois/Stroger Cook County/VA West Side on the Near West Side. Are there any synergies to the TMC setup? Nope. All hospitals now talk to each other electronically. (Although my PC physician is at Northwestern, I'm being treated for a serious (none-of-your-business) illness at Advocate Illinois Masonic. It's a long story. All my doctors "talk" to each other as though they were in the same complex.)

What matters is quality. Although somewhat subjective, Chicago has 3 of the 30 or so generally-accepted top hospitals (Northwestern, Rush, & U. of Chicago) vs. 1 for Houston (Houston Methodist). Medical schools? Chicago has 2 in the top 30 or so (Northwestern & Chicago) vs. 1 for Houston (Baylor).

OrdoSeclorum · #**19296** Posted **Aug 19, 2021, 1:15 PM**

Quote:

Originally Posted by BruceP

What matters is quality. Although somewhat suggestive, Chicago has 3 of the 30 or so generally-accepted top hospitals (Northwestern, Rush, & U. of Chicago) vs. 1 for Houston (Houston Methodist). Medical schools? Chicago has 2 in the top 30 or so (Northwestern & Chicago) vs. 1 for Houston (Baylor).

I think this is partially correct. But since we are on an economic forum, having all of the hospitals in one location may or may not have health care synergies for a patient, but it does create business synergies.

You are more likely to get business services that serve the medical and research industry colocalized in a medical district (this is why I'm familiar with the TMC and IMD). And if you are a nurse, physician, researcher or administrator, it's easier to find a job or change jobs if the industry is concentrated. There's more economic gravity in a cluster. And efficiency. I know medical equipment service techs that can visit more users at the TMC than they can in Chicago. You can "pop over" to MD Anderson from Baylor without getting in a car and then head back to finish your main task for the day. And being 3x larger, you are 6x more likely to have a consultant, salesperson, service technician, application support tech or whatever whose only posting is the medical district. As opposed to someone who has an office in Elmhurst and covers a whole region. This is one kind of example, but they are manifest and manifold.

Beyond that, Chicago abounds with examples of law firms clustering in the Loop or health care companies in the North burbs. The concentrated Loop is incredibly valuable to Chicago compared to Houston or Dallas' region-wide sprawl for most things. If you were looking to relocate a business HQ like CVS, they are going to consider Chicago because of our concentrated businesses in the north suburbs, since it would be easier to find and recruit employees and experts who already work in the area. Having a lot of an industry is good; having a concentrated industry is advantageous.

I'd love to see the IMD grow to be more like the TMC for these reasons. With Chicago's resources and the room to expand at the IMD, it's got a shot to nip at its heels over the next few decades. But the TMC is better managed and isn't standing still. It isn't helpful to pretend that the TMC isn't enviable.

sentinel · #**19297** Posted **Aug 19, 2021, 1:48 PM**

Quote:

Originally Posted by OrdoSeclorum

I think this is partially correct. But since we are on an economic forum, having all of the hospitals in one location may or may not have health care synergies for a patient, but it does create business synergies.

.....I'd love to see the IMD grow to be more like the TMC for these reasons. With Chicago's resources and the room to expand at the IMD, it's got a shot to nip at its heels over the next few decades. But the TMC is better managed and isn't standing still. It isn't helpful to pretend that the TMC isn't enviable.

Exactly this, thank you.

Randomguy34 · #**19298** Posted **Aug 19, 2021, 3:37 PM**

Speaking of the IMD, the 11 story, 136 ft Gateway Apartments is close to topping-out after starting construction 3 months ago: https://chicagoyimby.com/2021/08/gat...-district.html

lakeshoredrive · #**19299** Posted **Aug 19, 2021, 3:49 PM**

Quote:

Originally Posted by Randomguy34

Speaking of the IMD, the 11 story, 136 ft Gateway Apartments is close to topping-out after starting construction 3 months ago: https://chicagoyimby.com/2021/08/gat...-district.html

I wonder when they are breaking ground on the hotel.

ardecila · #**19300** Posted **Aug 19, 2021, 4:17 PM**

Quote:

Originally Posted by lakeshoredrive

I wonder when they are breaking ground on the hotel.

I dunno, the hotel business has been hammered and this is not exactly a primo downtown location either. I assume they will not take the risk until Covid has abated.