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  #14181  
Old Posted Today, 3:20 AM
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Originally Posted by marothisu View Post
Here's some more renderings via Crains of SB's proposed high rise on Michigan Avenue. Seems like they toned down the loudness of the ground floor retail from the last time we saw this.



Well what its replacing Will no doubt to be better than what is currently there … Regardless if it is only a 350 foot stump of a building that should have soared to at least 999 feet considering the location of the building. What ever crap out a 346 foot glass tower POShit. What ever.... As long as everyone makes money and no risk ….



I would figure Daniel Burnham would not be happy with this proposal I would imagine. Are there no more make no little plans anymore or is everyone just trying not to fail and make major monies





https://www.google.com/maps/place/30...3!4d-87.625001

I am Not going to miss that chain link fence on 300 N Michigan Ave with the blighted retail and who knows what's going on upstairs in those 4 levels.
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  #14182  
Old Posted Today, 4:24 AM
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Originally Posted by chicubs111 View Post
the 450ft to 530ft range is the sweet spot where anyone can make money overall?
And, more importantly, where the risk of losing money is less. The proportion of floor space devoted to elevators and exit stairs increases, the concrete gets proportionately more expensive as you go up, and most importantly, you run a higher risk of not getting the units absorbed before getting caught out by a recession. Better to do a modest project and survive to do another one.
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  #14183  
Old Posted Today, 5:09 AM
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Originally Posted by Mr Downtown View Post
And, more importantly, where the risk of losing money is less. The proportion of floor space devoted to elevators and exit stairs increases, the concrete gets proportionately more expensive as you go up, and most importantly, you run a higher risk of not getting the units absorbed before getting caught out by a recession. Better to do a modest project and survive to do another one.
Exactly Seems like a lot of projects are going up around this size which I'm fine with. More density is just as good if not better than height. ill take anything from the point of a contractor like myself.
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  #14184  
Old Posted Today, 11:37 AM
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  #14185  
Old Posted Today, 12:19 PM
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  #14186  
Old Posted Today, 1:09 PM
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Originally Posted by chicubs111 View Post
So your saying if a developer built a tower that was say 700ft (and more units of course) with some innovative design elements at this same location he would lose money because the 450ft to 530ft range is the sweet spot where anyone can make money overall? Its a conservative approach by the developer at this location...plain and simple. This location is right on Michigan avenue..they can demand pretty high rents i would think if they designed something worth those higher price points.
Will the construction loan be on your company's name?

If it defaults will it be you who has to go into bankruptcy? It's always easier to make demands when it's somebody else's money.

The big secret to rental real estate isn't how high you can push rents; it's a about at what rent level you can safely minimize vacancy. That's how a smart investor appropriately gauges the value of an apartment complex. I don't listen to those brokers with all of those pro forma analyses any longer because it's all BS.
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  #14187  
Old Posted Today, 1:23 PM
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  #14188  
Old Posted Today, 2:41 PM
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Originally Posted by chicubs111 View Post
So your saying if a developer built a tower that was say 700ft (and more units of course) with some innovative design elements at this same location he would lose money because the 450ft to 530ft range is the sweet spot where anyone can make money overall? Its a conservative approach by the developer at this location...plain and simple. This location is right on Michigan avenue..they can demand pretty high rents i would think if they designed something worth those higher price points.
How many times do we need to have this debate? Maybe this argument applied in 2013 but excluding Paragon there are currently no buildings under construction in that height range, at all, in the city. Everything else is under 30 stories or pushing 700 ft +.

I don't want anything built there at all but my reasons are selfish. In addition to stealing C&C's thunder, a ~500 footer here is gonna play some MAJOR interference with Vista and Aqua from the river/riverwalk and eliminate that spectacular view from the corner of Michigan and S. water st. of the Mather Tower fully eclpsed by Trump Tower. Somebody have a picture in the archives?
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  #14189  
Old Posted Today, 2:46 PM
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Not related, but does anyone know how long ago those three historic buildings lost their cornices?
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  #14190  
Old Posted Today, 2:59 PM
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  #14191  
Old Posted Today, 3:17 PM
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Until rgarri puts together a better render, here's my incredibly crude drawing of how the 300 N Michigan Ave tower will look from Wolf Point.

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  #14192  
Old Posted Today, 3:34 PM
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  #14193  
Old Posted Today, 4:36 PM
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  #14194  
Old Posted Today, 5:37 PM
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Originally Posted by The Lurker View Post
How many times do we need to have this debate? Maybe this argument applied in 2013 but excluding Paragon there are currently no buildings under construction in that height range, at all, in the city. Everything else is under 30 stories or pushing 700 ft +.

I don't want anything built there at all but my reasons are selfish. In addition to stealing C&C's thunder, a ~500 footer here is gonna play some MAJOR interference with Vista and Aqua from the river/riverwalk and eliminate that spectacular view from the corner of Michigan and S. water st. of the Mather Tower fully eclpsed by Trump Tower. Somebody have a picture in the archives?
It won't block either of those two towers, so you can breathe easy. Aqua residents would be happy either way:

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