CHICAGO | Highrise Projects & Construction, v7

[aaron38]

Steely, would you cross post that Evanston news here?
http://forum.skyscraperpage.com/show...=198789&page=9

There hasn't been much suburban news of late and it won't get buried there in a day.

[harryc]

Originally Posted by aaron38

Steely, would you cross post that Evanston news here?
http://forum.skyscraperpage.com/show...=198789&page=9

There hasn't been much suburban news of late and it won't get buried there in a day.

Evanston - like Oak Park - is not a suburb, we have the Chicago Transit Authority. Look at us like a pair of really big wards, with really lame aldermen.

[Steely Dan]

Originally Posted by harryc

Look at us like a pair of really big wards, with really lame aldermen.

so, no different than any other ward in the city then, right?

Originally Posted by aaron38

Steely, would you cross post that Evanston news here?
http://forum.skyscraperpage.com/show...=198789&page=9

done.

[harryc]

Sept 8

Just finishing up - the impact on the street level is hard to overstate.


Note the decks one only 2 floors up from the sidewalk, the street level shops ...

[HomrQT]

Originally Posted by Domer2019

You're in luck

http://forum.skyscraperpage.com/showthread.php?t=217443

Been watching this one since its proposal. That's my style of building if we're going glass. Cheers!

[10023]

Originally Posted by harryc

Sept 8

Just finishing up - the impact on the street level is hard to overstate.


Note the decks one only 2 floors up from the sidewalk, the street level shops ...

How the hell does this get approved? Horrible.

[aaron38]

It's above average honestly. At least there's life on the second floor and not 6 floors of sterile parking podium. Just keep building around it, it'll blend in and disappear.

[patrick84]

Originally Posted by 10023

How the hell does this get approved? Horrible.

The building itself isn't the most aesthetically pleasing, but the ground level is treated quite well and has done amazing things to inject more pedestrian life on to this stretch of Chicago. As well, leasing is well over 80% from what I've been told.

[Steely Dan]

Sterling Bay's Finkl Steel proposal for Amazon is being discussed in the general chicago development thread.

please continue all discussion regarding it there: http://forum.skyscraperpage.com/showthread.php?t=105764

[Randomguy34]

Apparently "The Bentham" received it's foundation permit two days ago. With Marlowe and FLATS also being developed on the same block, this is probably the busiest block in downtown at the moment. 356 units are basically going to be dumped on this block next year.

[BuildThemTaller]

Originally Posted by Randomguy34

Apparently "The Bentham" received it's foundation permit two days ago. With Marlowe and FLATS also being developed on the same block, this is probably the busiest block in downtown at the moment. 356 units are basically going to be dumped on this block next year.

Wow! And how many units just hit the market on the south side of Erie? The transformation of Wells in this part of River North is something else. I love it. It has the potential of turning the street into a sort of locals hot spot with a bunch of bars and restaurants. Leave the Mag Mile for the out-of-towners while the locals hit up the local spots a few blocks away.

[bgsrand]

Reached out to a member service rep at East Bank Club in regards to the soil boring:

East Bank Club is not selling. I talked to the club engineer and you are correct we did do soil boring last week and it was just to see if the club was able to support more weight if we do decide to do any capital improvements to the club. As far as the improvements that I am not sure of.

Thanks and let me know if you have any other questions.

Not the exciting news everyone was hoping for.

[Randomguy34]

Originally Posted by BuildThemTaller

Wow! And how many units just hit the market on the south side of Erie? The transformation of Wells in this part of River North is something else. I love it. It has the potential of turning the street into a sort of locals hot spot with a bunch of bars and restaurants. Leave the Mag Mile for the out-of-towners while the locals hit up the local spots a few blocks away.

Right! That's why I've viewed Wells St as my new favorite street to visit. I used to go to high school on Wells St and would hate walking down south of Chicago Ave because of how auto oriented everything was. Now, this is a street I love for it's urbanism and density. I know that Dollop Coffee plans to open up in The Gallery on Wells, and a couple of restaurants opened up in The Hensley and Exhibit on Superior. I did a quick calc of all the developments surrounding Wells St south of Chicago Ave, and more than 1800 units have and will continue to be delivered throughout 2017-2018

[ChiHi]

Originally Posted by patrick84

The building itself isn't the most aesthetically pleasing, but the ground level is treated quite well and has done amazing things to inject more pedestrian life on to this stretch of Chicago. As well, leasing is well over 80% from what I've been told.

Their leasing page says they're offering up to 2 months free rent and will pay for your movers. I haven't seen many offers for free rent in a couple years and definitely not paying for movers. Wonder if that's starting to show the softening of the rental market.

[LouisVanDerWright]

Originally Posted by ChiHi

Their leasing page says they're offering up to 2 months free rent and will pay for your movers. I haven't seen many offers for free rent in a couple years and definitely not paying for movers. Wonder if that's starting to show the softening of the rental market.

There definitely is downtown and at the upper end of the market. Frankly I'm not sure what people are thinking breaking ground in places like the Milwaukee Ave corridor or downtown right now. There is no way the market holds out long enough to accommodate a 2 year construction timeline or that the Fed will hold off on jacking rates up that long.

The other part of the market that is getting hammered is units that used to be at the upper end of the market, but that were never truly upgraded. In other words people who did cosmetic upgrades on apartments, but left the victorian floor plans in place are getting destroyed right now. No one is going to pay $2100 a month for a victorian layout 3 bed 1 bath that's 4 blocks from the Caifornia blue line when they can buck up another $500/mo for a 2 bed 2 bath with floor to ceiling glass in an elevator building literally next to the train.

[Chi-Sky21]

Just let them overbuild as usual....presto....affordable housing for all!! Screws me on my rental properties but i can survive renting them for less when the leases come up unlike some of these guys who count on those insane rents.

[emathias]

Originally Posted by Randomguy34

Apparently "The Bentham" received it's foundation permit two days ago. With Marlowe and FLATS also being developed on the same block, this is probably the busiest block in downtown at the moment. 356 units are basically going to be dumped on this block next year.

HOLY COW! I had no expectation that The Bentham would get started this year, I figured even next year would be a stretch.

I live on on the north side of Huron just across from the gutted warehouse Cedar Street is adding on to/redeveloping into apartments so have been literally surrounded by construction now for two years all ready. At least once these are all done there will be no more construction within a block of me until that rug shop on the corner of Huron/Lasalle sells out. I moved in here 13 years ago, and since then within a couple blocks of me I've watched 720 N Lasalle get built, 156 W Superior get built, and 110 W Superior, and the Godfrey, and the reno of Hotel Felix, and Flair Tower, and the Hensley, and Exhibit, and Gallery, and currently Marlowe and the Cedar St/Flats thing, and 640 N Wells. And now Bentham and probably that hotel on the corner of Clark/Huron. And I wonder when the building on the NW corner of Franklin/Huron will get going? And Blanc on the SW corner of Ontario/Wells?

I knew the area would change when I moved in here, but it just sort of puttered along for a while and then BANG exploded starting about three years ago.

Completely off-subject, but I wonder if Catholic Charities will sell out and move somewhere less fancy? In addition to the building at Lasalle/Huron, they own the parking lot at Erie/Lasalle which has to be hot property except for the adjacent gas station. I always thought for the CC building, it would be cool to rework the small side lot they have into a small garage for parking and then split that building up and convince Instituto Cervantes, Goethe-Institut, and Alliance Francaise to all three move into the building and have just a massive Euro-Culture building. With the chapel for small presentation events/movies, and multiple floors of offices and meeting rooms, it would be a pretty awesome thing to integrate.

[Justin_Chicago]

Ad giant to anchor big new Fulton Market office building

Advertising giant WPP Group plans to move its Chicago offices to a proposed building in the Fulton Market district in a major deal that further cements the former meatpacking hub as an office market.

WPP has leased 253,000 square feet from developer Sterling Bay, which plans to put an office building on land it owns on Green Street along the edge of Halsted Street and the Kennedy Expressway, WPP confirmed.

The deal means another big office building is coming to the fast-changing area, with this one expected to exceed a half-million square feet. WPP, which has 2,000 Chicago employees, said it plans to move to Fulton Market in 2020.

It is the fourth-largest office lease in downtown Chicago in 2017.

WPP plans to consolidate in the building offices from multiple downtown properties, including the neighboring Merchandise Mart and River North Point.

It's unclear exactly how large a building Sterling Bay is planning on the site, but it's believed to be at least 500,000 square feet. Sterling Bay managing principal Andy Gloor declined to comment.

article: http://www.chicagotribune.com/busine...13-column.html

[rlw777]

Originally Posted by Justin_Chicago

Ad giant to anchor big new Fulton Market office building

Advertising giant WPP Group plans to move its Chicago offices to a proposed building in the Fulton Market district in a major deal that further cements the former meatpacking hub as an office market.

WPP has leased 253,000 square feet from developer Sterling Bay, which plans to put an office building on land it owns on Green Street along the edge of Halsted Street and the Kennedy Expressway, WPP confirmed.

The deal means another big office building is coming to the fast-changing area, with this one expected to exceed a half-million square feet. WPP, which has 2,000 Chicago employees, said it plans to move to Fulton Market in 2020.

It is the fourth-largest office lease in downtown Chicago in 2017.

WPP plans to consolidate in the building offices from multiple downtown properties, including the neighboring Merchandise Mart and River North Point.

It's unclear exactly how large a building Sterling Bay is planning on the site, but it's believed to be at least 500,000 square feet. Sterling Bay managing principal Andy Gloor declined to comment.

article: http://www.chicagotribune.com/busine...13-column.html

Interesting. The location is pretty vague... Anyone know if this is the Coyne college site?

[Vlajos]

Originally Posted by rlw777

Interesting. The location is pretty vague... Anyone know if this is the Coyne college site?

It is according to the Tribune article.