CHICAGO | 1000M (1000 S Michigan) | 805 FT | 73 FLOORS - Page 68

gebs · #**1341** Posted **Nov 27, 2019, 4:27 PM**

Quote:

Originally Posted by UPChicago

I tend to think a lot of people here succumb to groupthink and assumption. Nothing coming from official sources suggested that this wasn't going to happen. The developer said quite a while ago that construction would occur in Q4 2019, why wouldn't people wait till then before jumping to conclusions is beyond me.

While you have a point on groupthink, I think we were all right to be skeptical about the following developments:

March 2016 per Curbed: "JK Equities’ Jerry Karlik said he and his team hope to have the entitlement process complete by June or July of this year [2016] and break ground within 12 to 15 months if all goes to plan" -- that would mean groundbreaking by summer to fall of 2017.

January 2017 per Curbed: "groundbreaking is anticipated to take place in 2018 with delivery targeted for 2021."

And now it's nearly December of 2019, so, in this case, we can be forgiven if we take developers' predictions with a grain of salt.

chicagodeckerdude · #**1342** Posted **Nov 27, 2019, 5:09 PM**

I kinda somewhat understand the argument of high end luxury not selling in this part of town. But with the massive development of the south loop and eventual "78" it seems that this whole area will be poppin as the kids say very soon. It's already got so much more life to it than it did a 2 decades ago. I love idea of living across from green space in a large city. Not feeling as trapped by concrete jungle as many other buildings.

Tom In Chicago · #**1343** Posted **Nov 27, 2019, 5:24 PM**

Quote:

Originally Posted by chicagodeckerdude

I kinda somewhat understand the argument of high end luxury not selling in this part of town. But with the massive development of the south loop and eventual "78" it seems that this whole area will be poppin as the kids say very soon. It's already got so much more life to it than it did a 2 decades ago. I love idea of living across from green space in a large city. Not feeling as trapped by concrete jungle as many other buildings.

People spending the kind of money to support this level of quality disagree with you. . . there is little to no luxury amenities in that part of the Loop. . . this will be an unusual building that may or may not succeed based upon that fact. . . time will tell. . .

. . .

UPChicago · #**1344** Posted **Nov 27, 2019, 5:25 PM**

Quote:

Originally Posted by gebs

While you have a point on groupthink, I think we were all right to be skeptical about the following developments:

And now it's nearly December of 2019, so, in this case, we can be forgiven if we take developers' predictions with a grain of salt.

I see your point, for some reason I thought it was always Q4 2019

BVictor1 · #**1345** Posted **Nov 27, 2019, 5:56 PM**

Quote:

Originally Posted by Steely Dan

i didn't think it would ever happen.

and even now with foundation work commencing, i can't fully shake that waterview feeling.

Exactly! Not until financing is announced.

The Lurker · #**1346** Posted **Nov 27, 2019, 6:01 PM**

Probably time to stock up on bananas. We could see this one, BMO, and Salesforce all start in the next 3 months. (Or less?)

Quote:

Originally Posted by Steely Dan

i didn't think it would ever happen.

and even now with foundation work commencing, i can't fully shake that waterview feeling.

+1

Knightwing · #**1347** Posted **Nov 27, 2019, 6:22 PM**

Quote:

Originally Posted by BVictor1

Exactly! Not until financing is announced.

Ditto

Chicago Shawn · #**1348** Posted **Nov 27, 2019, 7:01 PM**

So surprised to see the drill rig on-site this morning, I fully expected this one to a casualty of the end off the boom when the economy finally busts. Perhaps the project team is now very close to financing if they feel confident to start spending money on foundation crews.

chicagodeckerdude · #**1349** Posted **Nov 27, 2019, 9:45 PM**

Quote:

Originally Posted by Tom In Chicago

People spending the kind of money to support this level of quality disagree with you. . . there is little to no luxury amenities in that part of the Loop. . . this will be an unusual building that may or may not succeed based upon that fact. . . time will tell. . .

. . .

So how do you develop an area to create that type of luxury? It's kinda like what came first the chicken or the egg. Someone needs to be the first to do it.

Shwayze1994 · #**1350** Posted **Nov 27, 2019, 9:48 PM**

Chicago is on fire 🔥

harryc · #**1351** Posted **Nov 27, 2019, 9:58 PM**

Quote:

Originally Posted by Shwayze1994

Chicago is on fire 🔥

Not our favorite saying ......

harryc · #**1352** Posted **Nov 27, 2019, 10:00 PM**

Nov 27

ALMOST .......

Chicago | 1000 S Michigan by Harry Carmichael, on Flickr

Fvn · #**1353** Posted **Nov 27, 2019, 10:35 PM**

Damn, Stalworth

SolarWind · #**1354** Posted **Nov 27, 2019, 10:59 PM**

November 27, 2019

Knightwing · #**1355** Posted **Nov 28, 2019, 4:12 PM**

Is Case not doing the foundation work for this one?

Bombardier · #**1356** Posted **Nov 28, 2019, 4:48 PM**

^No, Stalworth is putting in the deep foundation.

harryc · #**1357** Posted **Nov 28, 2019, 5:05 PM**

Quote:

Originally Posted by Bombardier

^No, Stalworth is putting in the deep foundation.

Will this be rock-socketed foundation ?

cozy · #**1358** Posted **Nov 28, 2019, 6:04 PM**

First skyscraper I've been personally following to have foundation work done by anybody other than case

Bombardier · #**1359** Posted **Nov 28, 2019, 8:33 PM**

Quote:

Originally Posted by harryc

Will this be rock-socketed foundation ?

Based on the height I would assume some rock sockets, mostly top of rock caissons. That would be similar to the foundation for Essex in virtually the same soil conditions.

BVictor1 · #**1360** Posted **Nov 28, 2019, 10:23 PM**

Quote:

Originally Posted by Bombardier

^No, Stalworth is putting in the deep foundation.

Not familiar with them at all when it comes to the high-rise scene here in Chicago.

They must have bid low.