CHICAGO | Highrise Projects & Construction, v7 - Page 729

Steely Dan · #**14561** Posted **May 8, 2019, 9:55 PM**

when a developer is talking about building something "21 stories tall, or maybe even as tall as 53 stories", you know that they're wicked early in the process.

PittsburghPA · #**14562** Posted **May 9, 2019, 5:41 AM**

5/8. Happy VE Day! Thank you to all Veterans!

Gr333n

167 N Green

845 growing like a weed.

SamInTheLoop · #**14563** Posted **May 9, 2019, 12:46 PM**

Quote:

Originally Posted by Steely Dan

when a developer is talking about building something "21 stories tall, or maybe even as tall as 53 stories", you know that they're wicked early in the process.

Precisely. This thing is nothing more than a vision at this stage.

the urban politician · #**14564** Posted **May 9, 2019, 12:53 PM**

Isn’t every proposal a “vision?”

I get your point, but I guess I don’t understand why you have particular pessimism about this project compared to others?

When I think of “far fetched visions”, I think of the late Bill Davies’ plan for the Post Office site, or that Wisconsin developer’s recent vision for over the Metra Tracksin the South Loop.

This is an assisted living facility that may be as-of-right, and seeing how they’ve popped up everywhere in the suburbs, having one of these materialize in the Loop seems far from a pipe dream. Just saying...

LouisVanDerWright · #**14565** Posted **May 9, 2019, 2:31 PM**

^^^ Considering she didn't even have the property under contract at the time of publication...

BoostedChicago · #**14566** Posted **May 9, 2019, 3:15 PM**

Southbank building two as seen from Harrison and Franklin

gebs · #**14567** Posted **May 9, 2019, 3:47 PM**

Quote:

Originally Posted by BoostedChicago

Southbank building two as seen from Harrison and Franklin

That building is rising very quickly. But to be clear, it's Alta Grand Central, which is not part of the Southbank development. It's a separate project, led by Wood Partners, an Atlanta developer.

k1052 · #**14568** Posted **May 9, 2019, 5:47 PM**

Habitat Co to build 33 story/343 unit apartment building on Cassidy Tire site on Canal:

Quote:

“It’s the perfect point between the West Loop and the Loop,” Habitat President Matt Fiascone said of his proposed building.

Habitat has signed a contract to buy the development site, which is owned by the family behind Cassidy Tire & Service, he said. Cassidy occupies a low-rise brick building on the property that would be torn down to make way for Habitat’s tower, which is being designed by Solomon Cordwell Buenz and would cost $140 million to $150 million.

https://www.chicagobusiness.com/comm...icle1-headline

Steely Dan · #**14569** Posted **May 9, 2019, 5:53 PM**

^ boooooo.

we all knew this day would eventually come, but it'll still be sad to see that building go.

RedCorsair87 · #**14570** Posted **May 9, 2019, 5:53 PM**

JFC! Save the brick building atleast!

jtown,man · #**14571** Posted **May 9, 2019, 5:57 PM**

With all the construction going on in Chicago and its relatively slow population growth, are you guys seeing a slowdown in rental/home prices?

the urban politician · #**14572** Posted **May 9, 2019, 6:02 PM**

Quote:

Originally Posted by jtown,man

With all the construction going on in Chicago and its relatively slow population growth, are you guys seeing a slowdown in rental/home prices?

Slow population growth? Location, location, location, my friend.

Home prices are stagnating for reasons discussed elsewhere (a lot to get into).

But rent price growth is doing well right now.

aaron38 · #**14573** Posted **May 9, 2019, 7:55 PM**

Quote:

Originally Posted by k1052

Habitat Co to build 33 story/343 unit apartment building on Cassidy Tire site on Canal:

https://www.chicagobusiness.com/comm...icle1-headline

If they do that, they should rip out the tracks that run through the site. It's time, they will never be used for anything productive.

harryc · #**14574** Posted **May 9, 2019, 8:31 PM**

Quote:

Originally Posted by aaron38

If they do that, they should rip out the tracks that run through the site. It's time, they will never be used for anything productive.

I believe you are talking about these (the METRA tracks are pretty busy).

Carol st Bridge - W bank by Harry Carmichael, on Flickr

Chicago by Harry Carmichael, on Flickr

They continue on under the Merchandise Mart - 300 N LaSalle is cantilevered out over the ROW, plans are faor 330 N Clark to also cantelever out ove the ROW. The ROW then passes under 321 N Clark and past Marina City

Lower Carol by Harry Carmichael, on Flickr

Eventually it winds past the tower that shall not be named and on down lower Kinzie between the Wrigley towers.

Long term plans are for a people mover or light rail. Once gone the continuous ROW would be hard to replace.

LouisVanDerWright · #**14575** Posted **May 9, 2019, 8:39 PM**

Chicago's long term planning and adherence to these kinds of ROWs or things like the Ogden slip view corridor have only made Chicago more interesting. Someday someone will do something amazing with that ROW. Best idea is to retain it. Even some kind of low line 606 type path would be amazing. Some sort of a pseudo pedway with the kinzie bike lane shifted into a 606 like path with lanes for pedestrians and lined with building entraces and storefronts.

Quote:

Originally Posted by jtown,man

With all the construction going on in Chicago and its relatively slow population growth, are you guys seeing a slowdown in rental/home prices?

Considering I have an entire 6 unit building pre leased and it's not being delivered until July 1, no. My rents might be too low considering the demand I have. I leased the entire building to former tenants or friends of current tenants. Just leased out a 400sf studio in Logan for $900. It's like 5 houses down from Milwaukee and Diversey though so that's a pretty prime. Leased out another smallish 2BR in the same building for $1400. That's actually probably the best deal in the area for fully updated units with central air.

k1052 · #**14576** Posted **May 9, 2019, 8:53 PM**

Quote:

Originally Posted by aaron38

If they do that, they should rip out the tracks that run through the site. It's time, they will never be used for anything productive.

The ROW on the north side of the Cassidy property will remain since it still after all belongs to UPRR. They lower the bridge once a year and run a hi-rail over it to satisfy some legal requirement. As others note it may eventually come in handy one day.

Vlajos · #**14577** Posted **May 9, 2019, 8:55 PM**

Quote:

Originally Posted by LouisVanDerWright

Considering I have an entire 6 unit building pre leased and it's not being delivered until July 1, no. My rents might be too low considering the demand I have. I leased the entire building to former tenants or friends of current tenants. Just leased out a 400sf studio in Logan for $900. It's like 5 houses down from Milwaukee and Diversey though so that's a pretty prime. Leased out another smallish 2BR in the same building for $1400. That's actually probably the best deal in the area for fully updated units with central air.

Right, Chicago had record apartment absorption in 2018 and its expected to have even higher absorption this year.

https://www.chicagobusiness.com/comm...lut-never-mind

Tom In Chicago · #**14578** Posted **May 9, 2019, 10:03 PM**

I assume this is a model at the Cirrus sales center but haven't confirmed it yet. . . was posted on Leila Zammatta's (Senior vice president of sales for Magellan Development Group LLC) Instagram page:

Leila Zammatta

. . .