[EarlyBuyer]

All good reasons why I'm not making up my mind on the base yet. There's also going to be a small memorial at the north end of the building, so that might soften it up a bit.


spyguy, this is likely the memorial that you're referring to:
http://aquahomeowners.com/wp-content/uploads/2008/11/lores-walter-watroba-memorial.jpg

[jc5680]

Grocery retail is a scale business. Maybe Chicago is close enough its Southeast Wisconsin market to ship from distribution centers outside Milwaukee every day, but generally you don't open a single location in a market. You need enough locations to justify the local ad spending and distribution. That's why grocery chains typically expand into new markets by acquiring established local chains (in Chicago, Dominick's was bought by Safeway and Jewel was bought by Albertson's).

Maybe they plan to open a few dozen stores around Chicago in the next couple years, and take on the much larger Safeway and Albertson's, or they think they can profitably run a mid-market grocer without local scale, but it doesn't make as much sense as you'd think given the particulars of grocery retail.

I thought I had heard on the news last night that Roundy's was opening up a location, but it was on the near north side. Did a bit of digging, and it looks like they are opening up 12 stores in the next 3 years here. First one is planned for 1515 north halsted. A new 80,000 sq ft building replacing an old YMCA. All of which is supposed to carry a new name (not Roundys)

That said, I couldn't think of a much better place to put a large grocer. LSE as it stands could already support it, and it is only going to get more dense over there. Not to mention a probably good stream of lunch traffic from the surrounding commercial buildings.

http://www.jsonline.com/business/29332914.html

[Nowhereman1280]

Roundy's is very well round and intelligent company. I have a friend whose mother was one of the executives there and that company runs a tight ship. He had a job at the Metro Market in Milwaukee and I have to say that store is great, I love it. Apparently they treat their employees really well too. Sounds like a concept that could break into Chicago pretty well...

[Markitect]

Roundy's Supermarkets Inc. (HQed in Downtown Milwaukee) is owned by an investment firm from Chicago. The Chairman and CEO of Roundy's was formerly the CEO of the Dominick's chain of supermarkets (pre-Safeway takeover).

[woodrow]

I too recently read that Roundy's has been planning 12-15 stores in Chicago. This is a great location for a downtown store. River North, Streeterville, South Loop, West Loop all have grocery stores. South of the river, east loop? Nothing. Good central city location in an area with a high number of residents AND office workers.

[10023]

Got it. Wasn't aware there was a big expansion planned, in which case this makes perfect sense. It's been a couple years since I've worked in the retail sector.

[SolarWind]

February 19, 2009

http://img258.imageshack.us/img258/8676/dscc0157om5.jpg

[harryc]

http://lh3.ggpht.com/_8TC_VUmf9Fw/SZ6WyA5Ie1I/AAAAAAABGxs/jhXfhniN9v0/s720/P1260056.JPG

http://lh6.ggpht.com/_8TC_VUmf9Fw/SZ6Wy97QkoI/AAAAAAABGx4/1e_fvuLouMI/s800/P1260201.JPG

[spyguy]

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=33076

Roundy’s plans store in Lakeshore East
By Eddie Baeb, Feb. 20, 2009

...David Carlins, president of Magellan Development Group LLC, says he’s in talks with lenders for a roughly $40-million construction loan to finance the 140,000-square-foot building, which is to cost $60 million. Mr. Carlins hopes to get the loan and break ground in about 90 days

...At Lakeshore East, Fifth Third Bank has also leased space for a branch in the new retail building, and Mr. Carlins says Magellan plans to have a breakfast restaurant there.

“We’ve got Caffé Rom (located in a nearby apartment building) as our neighborhood coffee shop, but you need a breakfast place,” he says. “Now we’re looking for an Irish pub.”
http://img3.imageshack.us/img3/3332/villagemarketwestei0.gif

[wrab]

February 19, 2009

http://img258.imageshack.us/img258/8676/dscc0157om5.jpg

Wow -just about a perfect exposure. The shadow play from the balconies is very interesting on this tower - another pleasant surprise on a building already packed with "suprise and delight" features (to borrow a phrase from the auto industry).

[honte]

^ Yeah, Solar has done it again - educating the masses. This is the first shot so far where I feel the railings add something useful aesthetically.

[Jibba]

http://img22.imageshack.us/img22/6238/dsc086020130673.jpg

[JustinL]

I love your picture solarwind.

I got to see Aqua in person finally. Love it. Such character.

Sorry, about a week old.

http://justinlagace.info/49/chicago%202009%20154.jpg

http://justinlagace.info/49/chicago%202009%20186.jpg

[Ch.G, Ch.G]

Solar, harryc, Jibba, JustinL: great photos. This one especially struck me:

http://justinlagace.info/49/chicago%202009%20186.jpg

[jc5680]

2.24

http://www.j-carlson.com/ancilary/aqua224.jpg

[lawfin]

^^Thats great

[scalziand]

^^ That last shot really shows how the balconies help expand the view corridors.

[EarlyBuyer]

Chicago Sun Times

"...Swissotel Chicago, 323 E. Wacker, said it will open a 30,000-square-foot combination of ballrooms and meeting spaces in April. The hotel described it as one of the largest event spaces in Chicago..."

http://www.suntimes.com/business/roeder/1448083,CST-FIN-roeder25.article#VOTE

[george]

http://img17.imageshack.us/img17/7264/aqua1ia7.jpg

[left of center]

^ chicago needs more buildings like this. i mean, wow. just wow. fantastic shot, george!

[BVictor1]

02/22/09

https://community.emporis.com/images/6/2009/02/684799.jpg

https://community.emporis.com/images/6/2009/02/684804.jpg

https://community.emporis.com/images/6/2009/02/684816.jpg

https://community.emporis.com/images/6/2009/02/684821.jpg

[george]

^ Nice shots BVictor1^ You have really captured the incredible vertical nature of this tower.

[EarlyBuyer]

Great shots george and BVic!

BVic, you've captured several terrific full building shots, we don't see many such as those, well done.

[Tom In Chicago]

Took this one from the crib the other day. . .

http://www.pbase.com/temper/image/109643549.jpg

[honte]

^ That's nice. You can almost see in that shot why Mies and many other Modernists wanted to put their buildings up on pedestals.

Strange, but it doesn't even look 700' to me yet. Maybe because there is so much activity on the facade?

[Nowhereman1280]

^ That's nice. You can almost see in that shot why Mies and many other Modernists wanted to put their buildings up on pedestals.

Why's that? Just because it looks good?

Strange, but it doesn't even look 700' to me yet. Maybe because there is so much activity on the facade?

Maybe its because of the horizontal nature of the design that it comes across as shorter than it actually is in pictures. In real life on the other hand, this building really soars and towers.

I was down at the movies last night and all the tall buildings were looking particularly badass with the clouds and mist blowing around them. Hancock was looking more awesome than I've ever seen it and Aqua-Aon cluster was outstanding as well...

[lawfin]

^ That's nice. You can almost see in that shot why Mies and many other Modernists wanted to put their buildings up on pedestals.

Strange, but it doesn't even look 700' to me yet. Maybe because there is so much activity on the facade?
I don't know honte...everytime I see this in person or in photo I am impressed by its height / verticallity.....?

Different strokes for different folks :)

[stuntin88]

^ That's nice. You can almost see in that shot why Mies and many other Modernists wanted to put their buildings up on pedestals.

Strange, but it doesn't even look 700' to me yet. Maybe because there is so much activity on the facade?

The pedestal counts on the total height right? That might be why it doesn't look 700 ft., especially in that picture. It doesn't look that tall to me either. Normally when I drive down Lake Shore Dr. and check it out, it looks 700+.

[EarlyBuyer]

Magellan has released inital photos of the rental units and pricing


-Studio = 571 sq. ft. = $1,464-$1,569
-Studio = 584 sq. ft. = $1,514-$1,660
-Studio = 582 sq. ft. = $1,489-$1,585

-Convertible = 564 sq. ft. = $1,550-$1,611
-Convertible = 681 sq. ft. = $1,700-$1,794
-Convertible = 681 sq. ft. = $1,685-$1,806

-One Bedroom = 854 sq. ft. = $2,250-$2,346
-One Bedroom = 849 sq. ft. = $2,216-$2,350
-One Bedroom = 774 sq. ft. = $1,979-$2,065
-One Bedroom = 734 sq. ft. = $1,957-$2,053
-One Bedroom = 734 sq. ft. = $1,926=$2,047
-One Bedroom = 774 sq. ft. = $1,999-$2089

-Two bedroom = 1,160 sq. ft = $2,900-$2,971
-Two Bedroom = 1,060 sq. ft. = $3,000-$3111



http://img8.imageshack.us/img8/6858/aqua10.jpg


http://img8.imageshack.us/img8/7641/aqua8.jpg


http://img8.imageshack.us/img8/2653/aqua9.jpg


http://nnpresidential.com/aqua/index.html

[honte]

^ It's funny, with a rather "edgy" exterior design (har har, sorry), you'd think they would do at least some of the units in a style not so plain-Jane. Maybe they have or plan to...

The unit above seems like it would appeal to the Pottery Barn set, not anyone in tune with great design. And for those prices, I'd expect a little icing on the cake.

The pedestal counts on the total height right? That might be why it doesn't look 700 ft., especially in that picture. It doesn't look that tall to me either. Normally when I drive down Lake Shore Dr. and check it out, it looks 700+.

Depends what you consider the "pedestal." From Columbus, yes, there are two levels that factor into the recorded height. But beyond that, it's not counted. Even more reason why it seems short to me, as it really would be recorded as a taller building if the lower levels were considered.

I will say, however, from the Dan Ryan it looks anything but short. It's quite impressive to see its quiet presence back behind Aon and BCBS.

By the way, Dan if you're out there, whatever happened with the appeal to kick those floors into the total height?

[EarlyBuyer]

Rental unit (floors 19-52) view shots by Magellan


http://img16.imageshack.us/img16/3830/aqua1193b2ba.jpg


http://img14.imageshack.us/img14/7125/aqua1958f2b.jpg


http://img16.imageshack.us/img16/1096/aqua12968bdb.jpg


http://img8.imageshack.us/img8/4412/aqua13977d01.jpg


http://img19.imageshack.us/img19/9039/aqua17985d20.jpg


http://img15.imageshack.us/img15/5459/aqua18994628.jpg

[EarlyBuyer]

Two more shots by Magellan

http://img12.imageshack.us/img12/2756/aqua15a097e0.jpg


http://img27.imageshack.us/img27/6403/aqua16a18f40.jpg

[Mojava]

Magellan has released inital photos of the rental units and pricing


-Studio = 571 sq. ft. = $1,464-$1,569
-Studio = 584 sq. ft. = $1,514-$1,660
-Studio = 582 sq. ft. = $1,489-$1,585

-Convertible = 564 sq. ft. = $1,550-$1,611
-Convertible = 681 sq. ft. = $1,700-$1,794
-Convertible = 681 sq. ft. = $1,685-$1,806

-One Bedroom = 854 sq. ft. = $2,250-$2,346
-One Bedroom = 849 sq. ft. = $2,216-$2,350
-One Bedroom = 774 sq. ft. = $1,979-$2,065
-One Bedroom = 734 sq. ft. = $1,957-$2,053
-One Bedroom = 734 sq. ft. = $1,926=$2,047
-One Bedroom = 774 sq. ft. = $1,999-$2089

-Two bedroom = 1,160 sq. ft = $2,900-$2,971
-Two Bedroom = 1,060 sq. ft. = $3,000-$3111


This is some high pricing and will be very difficult to rent out in this market. It's a 20% premium to their other new building 'The Tides' and almost a 30% premium to the Shoreham also in LSE.

[Tom In Chicago]

They had the ceremonial topping out party yesterday at Houlihan's. . . Jeannie Gang was there along with a bunch of construction workers. . .

. . .

[harryc]

Feb 23 - up close
http://lh3.ggpht.com/_8TC_VUmf9Fw/Sam89GvJAgI/AAAAAAABHQw/5S3lZ1jQfPs/s720/P1260577.JPG

click on image for full size
http://thumb5.webshots.net/t/63/763/6/73/36/2309673360102798085FVjSTb_th.jpg (http://good-times.webshots.com/photo/2309673360102798085FVjSTb) http://thumb5.webshots.net/t/66/566/7/68/26/2424768260102798085uBJtae_th.jpg (http://good-times.webshots.com/photo/2424768260102798085uBJtae) http://thumb5.webshots.net/t/74/74/8/28/7/2349828070102798085pIIIJn_th.jpg (http://good-times.webshots.com/photo/2349828070102798085pIIIJn) http://thumb5.webshots.net/t/73/173/1/49/55/2991149550102798085LffIGl_th.jpg (http://good-times.webshots.com/photo/2991149550102798085LffIGl)



http://lh6.ggpht.com/_8TC_VUmf9Fw/Sam8-Nr4OvI/AAAAAAABHQ8/O4C1GRzGqcw/s720/P1260588.JPG

Needs trees
http://lh5.ggpht.com/_8TC_VUmf9Fw/Sam8_M-n96I/AAAAAAABHRI/AfVL-4FcEro/s800/2009_02_22A.JPG

Feb 25 - from the riverbank.
http://lh4.ggpht.com/_8TC_VUmf9Fw/Sam8_xrfiXI/AAAAAAABHRU/924gENOzj-Y/s720/P1270071_2_3.jpg http://lh3.ggpht.com/_8TC_VUmf9Fw/Sam9BBIl_CI/AAAAAAABHRg/8tx5ZIOAZls/s720/P1270077.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/Sam9CIdT1JI/AAAAAAABHRs/b6ByKEBaGbM/s800/2009_02_25R.JPG

Feb 27 - cameo
http://lh4.ggpht.com/_8TC_VUmf9Fw/Sam9DrMYYCI/AAAAAAABHR4/wsze9aza0os/s800/P1270298_6_7.jpg

http://lh6.ggpht.com/_8TC_VUmf9Fw/Sam9F2n1WMI/AAAAAAABHSE/G1aZDo7IrSs/s720/P1270307_5_6.jpg

Panasonic DMZ TZ4 (http://panasonic.net/avc/lumix/compact/tz5_tz4_tz15_tz11/index.html) - Picasa (http://picasaweb.google.com/) - Autostitch (http://www.cs.ubc.ca/~mbrown/autostitch/autostitch.html) - Photomatix HDR (http://www.hdrsoft.com/)

[EarlyBuyer]

Awesome pictures harry!!

The first one is my fav.

[george]

Nice stuff Harry, very flattering shots of an amazing tower.
Also like the last 2 with the Carbide/ Carbon building. Not to stray, but the movie "Wanted" features a good scene from the top of the Carbide/ Carbon.

[alsajano]

Very good images harryc. Thanks.

[Aqua Plumber]

http://i142.photobucket.com/albums/r110/phd3746/Xmas031.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas032.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas038.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas022.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas023.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas007.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas026.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas036.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas027.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas028.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas029.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas021.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas015.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas020.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas030.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas016.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas037.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas040.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas041.jpg

http://i142.photobucket.com/albums/r110/phd3746/Xmas034.jpg

[harryc]

.


:cheers:

[EarlyBuyer]

Awesome pictures AP, I love this stuff, well done!

What floor(s) were these taken from?

[ethereal_reality]

^^^FANTASTIC photographs!
Thanks for posting them Aqua Plumber. :)

[kristiaan]

Wow, those pictures are amazing!

[ChicagoChicago]

^^^
Incredible pictures, Aqua Plumber! Thanks!

[jcchii]

whoa. don't see that every day

[Aqua Plumber]

81

[woodrow]

Jeeebus - Jawdropping photos AP. Even though you are perfectly safe up there, a couple of those photos made my legs weak.

[Steely Dan]

fantastic pics, aqua plumber. thanks for posting them!

[Brian.]

wow...now those are some great shots

[10023]

Magellan has released inital photos of the rental units and pricing

-Two bedroom = 1,160 sq. ft = $2,900-$2,971
-Two Bedroom = 1,060 sq. ft. = $3,000-$3111



I'd love to see NYC get down around this level for a building like this...

[wrab]

Damn, those are some views. Love the shot with AON poking through.

[ChicagoChicago]

Magellan has released inital photos of the rental units and pricing


-Studio = 571 sq. ft. = $1,464-$1,569
-Studio = 584 sq. ft. = $1,514-$1,660
-Studio = 582 sq. ft. = $1,489-$1,585

-Convertible = 564 sq. ft. = $1,550-$1,611
-Convertible = 681 sq. ft. = $1,700-$1,794
-Convertible = 681 sq. ft. = $1,685-$1,806

-One Bedroom = 854 sq. ft. = $2,250-$2,346
-One Bedroom = 849 sq. ft. = $2,216-$2,350
-One Bedroom = 774 sq. ft. = $1,979-$2,065
-One Bedroom = 734 sq. ft. = $1,957-$2,053
-One Bedroom = 734 sq. ft. = $1,926=$2,047
-One Bedroom = 774 sq. ft. = $1,999-$2089

-Two bedroom = 1,160 sq. ft = $2,900-$2,971
-Two Bedroom = 1,060 sq. ft. = $3,000-$3111



http://img8.imageshack.us/img8/6858/aqua10.jpg


http://img8.imageshack.us/img8/7641/aqua8.jpg


http://img8.imageshack.us/img8/2653/aqua9.jpg


http://nnpresidential.com/aqua/index.html

I’m curious to know what floor these prices consider. I couldn’t find the information in your link, but typically for a 1 bedroom, it’s $10 per month per floor in the city, so a unit on the 50th floor is $300 more a month than a unit on the 20th floor.

[brian_b]

This is some high pricing and will be very difficult to rent out in this market. It's a 20% premium to their other new building 'The Tides' and almost a 30% premium to the Shoreham also in LSE.

Agreed. Take a look on the MLS and you can see 3BR/2BA condos in the Lancaster listed for rent at $3000-3400 per month.

Unless you were dead set on renting in Aqua, there are better options in the LSE neighborhood.

[Lecom]

A masterpiece.

[Jibba]

Agreed. Take a look on the MLS and you can see 3BR/2BA condos in the Lancaster listed for rent at $3000-3400 per month.

Unless you were dead set on renting in Aqua, there are better options in the LSE neighborhood.

And I'm sure they look better inside; I'm sure they have higher ceilings, too.

[Scruffy]

WOW!! Coolest tower ever!

[brian_b]

And I'm sure they look better inside; I'm sure they have higher ceilings, too.

Plus, when you look out the window you get to see Aqua, and not the other way around ;)

[andydie]

have to agree with everybody that Aqua Plumbers shots are brilliant work:tup:

[Manus in Chicago]

The roof will be poured tomorrow starting at 8am.:cheers:

[jowens]

I don't know how I missed this thread..............WOW!

Aqua Plumber, your pics rocks!! :banger:

[CHAPINM1]

Everything I’ve read says that Shangri-La won’t be filling Aqua. It’s not even an option because of Aqua’s ceiling heights.

I kept stressing that on the Aqua thread, I am honostly amazed how they cut corners by building the worlds shortest 83 floor building. I can completly understand why Shangri-La would make that decision and give them credit for it.

Don't get me wrong, Aqua has a really cool design and concept, but what ruined it for me was how short they built it for has many floors it has. I am suprised that they pulled out of the Waterview Tower, that truely is a shame.

[BVictor1]

I kept stressing that on the Aqua thread, I am honostly amazed how they cut corners by building the worlds shortest 83 floor building. I can completly understand why Shangri-La would make that decision and give them credit for it.

Don't get me wrong, Aqua has a really cool design and concept, but what ruined it for me was how short they built it for has many floors it has. I am suprised that they pulled out of the Waterview Tower, that truely is a shame.

8'6" or whatever floor-to-ceiling doesn't seem all that short too me. Maybe that's because I'm only 5'4":shrug: Or were the ceilings in Aqua only 8'?

[CHAPINM1]

8'6" or whatever floor-to-ceiling doesn't seem all that short too me. Maybe that's because I'm only 5'4":shrug: Or were the ceilings in Aqua only 8'?

I guess comparing it to its neighbor the Aon Center, it really seems weird IMHO. Even if the ceiling heights in Aqua were 9 feet (which appears to be the minimal standard for any project, not just luxury these days), I still think its weird with even a residential building built today averaging just barely 10 feet from floor to floor. I'm kind of a geek though since I always look at and crunch the numbers with every project. I myself am not the tallest person in the world, but its just what I think.

[BVictor1]

I guess comparing it to its neighbor the Aon Center, it really seems weird. Even if the ceiling heights in Aqua were 9 feet (which is the minimal standard for luxury these days), I still think its weird with even a residential building built today averaging just barely 10 feet from floor to floor.

AON is an office tower.

Office buildings always have a greater floor-to-ceiling ratio than residential buildings or hotels.

[CHAPINM1]

AON is an office tower.

Office buildings always have a greater floor-to-ceiling ratio than residential buildings or hotels.

True, but for a residential tower its still short, I think anyway. If it were in the range of 900 feet or so it wouldn't seem unusual. I'd stay 10.5 feet anywhere is the least I'd expect today and an average of somewhere from 11 to 12 something. Then again I am taking the projects including The Musium Park Towers that are under construction and yet proposed, the Waterview Tower, the Chicago Spire, the Trump Tower, and compared them as well. I'll figure some out and post them.

Trump Tower 1,171'/96 = 12.20 average feet floor to floor
Waterview Tower 1,035'/89 = 11.63 average feet to floor.
Chicago Spire 2,000'/150 =13.33 average feet floor to floor.
One Musium 735'/65 =11.22 average feet floor to floor.
The Legacy at MP 819'/71 = 11.54 average feet floor to floor.
The Elysian 686'/60 = 11.43 average feet floor to floor.
Waldorf=Austoria 1,200'/107 = 11.21 average feet floor to floor.
Intercontinental North Tower 850'/71 = 11.97 average feet floor to floor.
375 East Wacker 840'/76 = 11.05 average feet floor to floor.

Not one of them goes even below 11 let alone 10.5 feet on average, thats why I guess I think it's a little weird regarding Aqua which technically goes below 10 at 822/83 = 9.90 average feet floor to floor.

However despite of all the facts and figures, I am glad the project was built and is a very unique addition to Chicago. I hope to before too long see the completed product for myself.

[ChicagoChicago]

8'6" or whatever floor-to-ceiling doesn't seem all that short too me. Maybe that's because I'm only 5'4":shrug: Or were the ceilings in Aqua only 8'?

8'8" in the residential units.

[EarlyBuyer]

Chapinm1:

The economics of maximizing the number of units in a new construction and thus keeping ppsf for buyers lower makes these buildings sell. The "lower" ceiling allows more floors (and more units) into their maximum approved building height.

Buyers aren’t typically thinking cubic feet when reviewing pre-construction floor plans; instead it’s square feet.

While Magellan does typically have 8 foot 8 inch ceilings in its condo towers found in LSE, the buildings sell successfully. If they were not selling due to buyer objection to ceiling heights, they'd make a revision. The 375 East Wacker future project (Magellan) proposed ceiling heights may be a turn in a new direction due to previous/potential buyer feedback or a move to tap into a new buyer segment. With the exception of 375, it has thus far not been necessary and the towers in Lakeshore East are a sellout hit.

Take a look at the list of (higher ceiling) buildings you've outlined: Trump is facing significant financial challenges, Waterview is essentially over, Chicago Spire is on indefinite hold, and the Intercontinental replacement tower is a dream at this point (unless Strategic sells the hotel) as their stock is presently 94 cents and they’re in all-out cash hording self preservation mode.

In a nutshell, like it or not, the Magellan "formula" works and they have one financial success after another.

[EarlyBuyer]

Photos taken by EarlyBuyer


http://img25.imageshack.us/img25/1516/dsc0781.jpg


http://img8.imageshack.us/img8/4619/dsc0785.jpg


http://img16.imageshack.us/img16/8648/dsc0786k.jpg


http://img13.imageshack.us/img13/7743/dsc0792.jpg


http://img11.imageshack.us/img11/7954/dsc0794.jpg

[EarlyBuyer]

Photos taken by EarlyBuyer


http://img9.imageshack.us/img9/9995/dsc0795t.jpg


http://img23.imageshack.us/img23/5520/dsc0796w.jpg


http://img25.imageshack.us/img25/3863/dsc0798.jpg


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[Thymant]

Construction on this building to me seemed fast, each time I went to downtown it always looked taller.

[the urban politician]

Early Buyer, your Aqua/LSE updates just rule so damn much

[CHAPINM1]

Chapinm1:

The economics of maximizing the number of units in a new construction and thus keeping ppsf for buyers lower makes these buildings sell. The "lower" ceiling allows more floors (and more units) into their maximum approved building height.

Buyers aren’t typically thinking cubic feet when reviewing pre-construction floor plans; instead it’s square feet.

While Magellan does typically have 8 foot 8 inch ceilings in its condo towers found in LSE, the buildings sell successfully. If they were not selling due to buyer objection to ceiling heights, they'd make a revision. The 375 East Wacker future project (Magellan) proposed ceiling heights may be a turn in a new direction due to previous/potential buyer feedback or a move to tap into a new buyer segment. With the exception of 375, it has thus far not been necessary and the towers in Lakeshore East are a sellout hit.

Take a look at the list of (higher ceiling) buildings you've outlined: Trump is facing significant financial challenges, Waterview is essentially over, Chicago Spire is on indefinite hold, and the Intercontinental replacement tower is a dream at this point (unless Strategic sells the hotel) as their stock is presently 94 cents and they’re in all-out cash hording self preservation mode.

In a nutshell, like it or not, the Magellan "formula" works and they have one financial success after another.

I will say if I were moving to Chicago and if I had the doe, I'd definetly consider buying a condo there. It really is quite affordable for downtown IMHO. :tup:

Also bear in mind, it's only usually geeks like me who pay attention to the iddy gritty details that most people wouldn't.

[simcityaustin]

I think ceiling height is going to depend on a number of things....such as your target market, your location, (giving a unit higher ceilings to compensate for a lacking location) building design, etc.

While I don't think EarlyBuyer's attempted correlation is true (Higher ceilings = failed buildings...If I took the time I'm sure I could find just as many succesful buildings with high ceilings) I do think if it makes economic sense, aka increase your ROI by lowering the ceiling a bit, why not?

[EarlyBuyer]

Update released from Magellan today:

3/4/09

"...Today at approximately 4:00 p.m. McHugh Construction and Magellan Development will witness the final concrete being pumped and poured on floor 82 of Aqua..."

[CHAPINM1]

I think ceiling height is going to depend on a number of things....such as your target market, your location, (giving a unit higher ceilings to compensate for a lacking location) building design, etc.

While I don't think EarlyBuyer's attempted correlation is true (Higher ceilings = failed buildings...If I took the time I'm sure I could find just as many succesful buildings with high ceilings) I do think if it makes economic sense, aka increase your ROI by lowering the ceiling a bit, why not?

I guess it really does depend on the market. Office OR residential, I am kind of obsessed and rank buildings by their floor to floor height. As I said before that's just me. In any case, the 83rd floor here in this case is nowhere near the 83rd floor at the Trump Tower which is of avarage height, and I am biased toward Trump in that regard.

Regarding the final pour, that's great to hear! With this project among others nearing topping out, the Chicago threads will be pretty dead for a while.

[Romero]

Does someone know what the official height is of Aqua? This site lists it as 822 feet. Emporis lists it as the same exact height of Legacy or 819 feet. Which one is right? Thank you.

As a side note. Now that Aqua is topped out, Emporis lists Chicago with 100 buildings that are 500 feet or taller that are either built or topped out.

Tony in Woodacre

[CHAPINM1]

It was once rumored that The Legacy was 822 feet but turns out its 819 feet, you must be thinking of that. It was mentioned on here a while back that the confirmed height for this one is 822 feet.

[i_am_hydrogen]

Taken today:
http://img8.imageshack.us/img8/5233/aqua34.jpg

[ardecila]

Update released from Magellan today:

3/4/09

"...Today at approximately 4:00 p.m. McHugh Construction and Magellan Development will witness the final concrete being pumped and poured on floor 82 of Aqua..."

:banana: :banana:

[EarlyBuyer]

GREAT shot hydrogen!

[Jibba]

This evening:
http://img12.imageshack.us/img12/7513/dsc090236805464.jpg

[harryc]

Great atmosphere Jibba. It's always a pleasure to see a common scene through a new view.

[hawkeye view]

Here's a shot from last weekend

http://img102.imageshack.us/img102/9061/img2671.jpg (http://img102.imageshack.us/my.php?image=img2671.jpg)

Also, for my 2 cents worth, living in a unit with 9'6" ceilings. The height has the curious effect of making every room look smaller. Increasing the ceiling height changes your perspective on everything else in the room. That was the shocker when we moved in until we started putting in furniture and realized the actual size. :)

[i_am_hydrogen]

^Nice shots, guys.

Taken on 3/4:
http://img16.imageshack.us/img16/6417/aqua34bw.jpg

[photoLith]

^^^
Awesome photo! Thanks for that.

[Chitown]

^You are ridiculous, Hydrogen.

[xited4aqua]

:banana: Awesome Pictures:banana:

[xited4aqua]

:banana: Does anyone know how many or what percent of units are sold?

[koval95]

:banana: Does anyone know how many or what percent of units are sold?
well if construction started, the developpers must have sold between 35-55 % of the units before construction started, but imnot sure about the percentage :banana: :banana:

[Mojava]

[QUOTE=xited4aqua;4126245Does anyone know how many or what percent of units are sold?[/QUOTE]

I believe over 90%

[xited4aqua]

Thanks for the info mojava and koval95. i recently bought in there and am curious.

[jcchii]

this building looks great in B&W

[xited4aqua]

I cant wait to see it at night with lights on when it is complete!

[EarlyBuyer]

Early Buyer, your Aqua/LSE updates just rule so damn much

Thanks for the compliment TUP!

New photos taken today to be posted tonight.

[EarlyBuyer]

Photos taken by EarlyBuyer 3/6, lunchbreak


http://img19.imageshack.us/img19/8427/dsc0481i.jpg


http://img10.imageshack.us/img10/697/dsc0492.jpg


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http://img12.imageshack.us/img12/7462/dsc0359.jpg


http://img19.imageshack.us/img19/3320/dsc0363.jpg

[EarlyBuyer]

Photos taken by EarlyBuyer 3/6


http://img8.imageshack.us/img8/4989/dsc0368m.jpg


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http://img23.imageshack.us/img23/4130/dsc0427p.jpg


http://img8.imageshack.us/img8/9479/dsc0417z.jpg

[EarlyBuyer]

Photos taken by EarlyBuyer 3/6


http://img16.imageshack.us/img16/4373/dsc0431.jpg


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http://img27.imageshack.us/img27/718/dsc0479u.jpg

[i_am_hydrogen]

^^^
Awesome photo! Thanks for that.

^You are ridiculous, Hydrogen.

Thanks, guys.

---

Thanks for the comprehensive update and wonderful shots, EB. I always like your Aqua sets.

[SolarWind]

Photos taken by EarlyBuyer


http://img19.imageshack.us/img19/8427/dsc0481i.jpg


http://img8.imageshack.us/img8/9479/dsc0417z.jpg
Another wonderful set, EarlyBuyer! :) These two are my favorite. :previous:

[SolarWind]

March 6, 2009

http://img10.imageshack.us/img10/4519/dsc0377l.jpg