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  #801  
Old Posted Oct 30, 2017, 3:13 PM
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I think 30% is the usual threshold
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  #802  
Old Posted Oct 30, 2017, 3:25 PM
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Originally Posted by Domer2019 View Post
There are also ~ 200 rental units, so it's not 100% condo.
It is 100% condo

The rental went the way of the original design.
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  #803  
Old Posted Oct 30, 2017, 3:49 PM
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Video Link


May as well post this
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  #804  
Old Posted Oct 30, 2017, 6:21 PM
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It is 100% condo

The rental went the way of the original design.
Ah, ok. Curbed's article right after the change included those incorrect figures.
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  #805  
Old Posted Oct 31, 2017, 3:15 AM
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^The affordable units, too?
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  #806  
Old Posted Oct 31, 2017, 5:53 PM
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^The affordable units, too?
Is that even a thing? Affordable units that are condominium? That wouldn't even make sense. I'm also surprised they didn't just pay the penalty to have no affordable units in the building already.
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  #807  
Old Posted Oct 31, 2017, 6:46 PM
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^That's how the developer planned to go, and that's how the PD was approved. But when Ald. King took office, she claims to have gone back and insisted on affordable units in the building. But I can't find any details on the number, ownership, or whether they'll even be in the same tower.
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  #808  
Old Posted Jan 2, 2018, 3:53 AM
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Anyone know how initial sales have been going? I've been seeing a ton of advertising around for this one.
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  #809  
Old Posted Jan 3, 2018, 4:27 PM
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Originally Posted by Kumdogmillionaire View Post
Is that even a thing? Affordable units that are condominium? That wouldn't even make sense. I'm also surprised they didn't just pay the penalty to have no affordable units in the building already.
The ARO requires that the affordable units are in-kind with the market rate units, so yes, affordable condos do exist. They're a rare breed because:
-most condo projects downtown were built before 2015, so they pretty much all paid the in-lieu fee to avoid building affordables
-most condo projects in the neighborhoods are either too small to trigger the ordinance, or if they are larger, they are built as-of-right or done as a conversion of an existing building.
-there are a handful of new-construction condos larger than ten units out in the neighborhoods, that received zoning changes and were subject to the ARO, but again, most of these were built before 2015 so they also paid the in-lieu fee.


We sold some affordable condos in the Cabrini area a few years ago. They were not more difficult to sell than any other condo. However, the buyer has to be income-verified by the Chicago Community Land Trust, and they have to sign a special affordability covenant that caps the resale value and restricts who can buy it from the original owner. There is literally no investment value to an affordable condo, it just offers the owner a little more control over their dwelling space than a rental does. It also comes with a maintenance burden, though, so I wouldn't really recommend it except maybe as a way to build credit.
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  #810  
Old Posted Jan 3, 2018, 6:24 PM
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does the ARO here have a time limit on the equity cap?

good intentions gone bad.... we want affordable homes, we want economic independence, but then we don't allow people to participate in the up-side. it's such a pat on the head for those that want to come up... BS

the in-kind requirement (if it means the same thing here that it meant in denver) is awful as well... there is aboslutely no reason we should have the same level of finishes in an affordable unit.
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  #811  
Old Posted Jan 5, 2018, 3:34 AM
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Not sure if this has been posted but heres a promotional video for 1000m. Lots of cool renderings

https://www.youtube.com/watch?v=Ind_ISx-voA
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  #812  
Old Posted Jan 5, 2018, 5:21 AM
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^ Wow, the building looks great in the video. A lot better than the rendering pics. Sleeker and more fluid.

The transition from base to tower still looks a bit off, due to the cantilever. The video seems to avoid viewing that area head on, and focuses primarily on the lobby entrance and the top of the tower.
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  #813  
Old Posted Jan 5, 2018, 8:10 AM
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Quote:
Originally Posted by Chisky View Post
Not sure if this has been posted but heres a promotional video for 1000m. Lots of cool renderings

https://www.youtube.com/watch?v=Ind_ISx-voA
So much better in video than in these renderings! I mean it's not even close and the tower is going blend in with Essex and Vinoly splendidly!

Thnx for that....
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  #814  
Old Posted Jan 5, 2018, 1:17 PM
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Lol nice Keats poem and also very natural hair color Helmet Jahn.

The building looks good.
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  #815  
Old Posted Jan 5, 2018, 4:16 PM
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Quote:
Originally Posted by Chisky View Post
Not sure if this has been posted but heres a promotional video for 1000m. Lots of cool renderings

https://www.youtube.com/watch?v=Ind_ISx-voA
I love the comments Jahn makes re the connection between architecture and art
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  #816  
Old Posted Jan 5, 2018, 5:52 PM
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I'm definitely warming to the design. The cladding should look really slick--I still marvel at the housing on Clybourn and the IIT dorms, and they're a decade old now. The tuck into the S elevation will help offset the bloating from the rounded sides tapering outward as they ascend, and I like the interplay between the angular creases and the round bends; that will be great to admire from directly below.

The columns that conspicuously span between the lower segment and the tower could be more elegantly integrated into the design; either by emphasizing their connection with the tower more (by meeting a thicker floorplate) or totally minimizing them, say to have the same width as the floor plate spandrels (though, I'm presuming they can't do the latter, structurally). But they're expressed, which I like, as the whole assembly communicates the acrobatics involved in poising the tower out and over its southern neighbor.

It's not the handsome, architectonic spectacle of the first iteration, but it's sleeker (and more elegant, in a few ways).
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  #817  
Old Posted Jan 5, 2018, 6:17 PM
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Once again, I see that actual curved glass has been VE'd out of a Helmut Jahn design.

At the March 2016 public meeting, the developer assured me that wouldn't happen on this project.
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  #818  
Old Posted Jan 5, 2018, 8:33 PM
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Well, surprise, a lying, cheating developer
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  #819  
Old Posted Jan 6, 2018, 3:25 PM
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Quote:
Originally Posted by bcp View Post
does the ARO here have a time limit on the equity cap?

good intentions gone bad.... we want affordable homes, we want economic independence, but then we don't allow people to participate in the up-side. it's such a pat on the head for those that want to come up... BS

the in-kind requirement (if it means the same thing here that it meant in denver) is awful as well... there is aboslutely no reason we should have the same level of finishes in an affordable unit.
We didn’t have to use the same finishes. We used the same color palette, but with bamboo flooring instead of oak, builder-grade Kountry Wood cabinets instead of the imported Italian ones. We saved money where we could, but the units were still good quality. The city officials we dealt with were actually very happy with the results.

IIRC the equity cap never expires for the initial buyer. The unit has to stay affordable for 30 years, so it can’t be sold for more than the allowable affordable price. After 30 years, it can be sold to market-rate buyers at full market value, but all that extra value goes back into the CCLT’s trust fund.
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  #820  
Old Posted Jan 7, 2018, 3:05 AM
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Originally Posted by Notyrview View Post
Lol nice Keats poem and also very natural hair color Helmet Jahn.

The building looks good.
Careful Jahn can hear what we're thinking!
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