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  #221  
Old Posted Aug 13, 2019, 3:30 PM
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ardecila ardecila is online now
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^ With Related wrapping up One Bennett Park, I'm sure they're doing their damnedest to get the next one started.

I think the only thing they've got U/C in Chicago right now is Lathrop Homes. Wells-Wentworth is U/C on the 78 site, but that's a city project so not really under Related's umbrella.

Meanwhile, they've got quite a few proposals. I'd imagine this one is most likely to start, since the land is cleared and the zoning is in place. It's heavily based around the Equinox brand, though, so I'm sure the latest political kerfuffle isn't helping.
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  #222  
Old Posted Aug 13, 2019, 3:31 PM
RedCorsair87 RedCorsair87 is online now
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It certainly feels like they are dragging their feet here considering this was proposed the same day One Chicago was in Oct 2017. Compare the status of both towers...
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  #223  
Old Posted Aug 13, 2019, 3:34 PM
LouisVanDerWright LouisVanDerWright is offline
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Originally Posted by RedCorsair87 View Post
It certainly feels like they are dragging their feet here considering this was proposed the same day One Chicago was in Oct 2017. Compare the status of both towers...
That's not how highrise development works...


Next time I talk to my friend who works for Equinox I'll get an update. They are still wrapping up their first club here in Chicago at Lincoln Commons so that probably has more to do with it than anything else...

These health clubs they build are insane, sitting on a totally isolated floor slab. Ardceila can probably tell you more about than I can though.
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  #224  
Old Posted Aug 13, 2019, 4:17 PM
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Originally Posted by LouisVanDerWright View Post
That's not how highrise development works...


Next time I talk to my friend who works for Equinox I'll get an update. They are still wrapping up their first club here in Chicago at Lincoln Commons so that probably has more to do with it than anything else...

These health clubs they build are insane, sitting on a totally isolated floor slab. Ardceila can probably tell you more about than I can though.
Equinox actually has a few locations already in Chicago--near Washington/Wells stop, one just north of the North/Clark intersection, I think a newer one the Mag Mile and somewhere in Winnetka or Glencoe. I've been in on guest passes a few times, and they are very very nice--I suppose if I had the money I'd join but decided the $160 a month for a gym membership was just not worth it for the nice face lotion they have in the locker rooms, ha.
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  #225  
Old Posted Aug 13, 2019, 4:25 PM
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Heard some whispers of Related trying to secure funding sources related to affordable housing. This means that Related is trying to get some of their mandated affordable units (from this and other nearby developments) at this site... I wouldn't expect to hear anymore until probably Quarter 4 of 2019 at the earliest.
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  #226  
Old Posted Aug 14, 2019, 10:30 PM
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^ I've been wondering how Related planned to handle off-site affordable-housing requirements for The 78, I assumed they would just stash it in Roosevelt Square but I guess the housing planned over there is already "committed" toward meeting CHA's needs, and can't be used to offset Related's market rate projects elsewhere in the city.

Stephen Ross started in the affordable housing sector before moving to market-rate, so affordable housing is pretty key to Related's business. Not in a bleeding-heart, liberal way though - they see affordable housing as a way to make money assuming the right government subsidies are in place.

I'm confused, though... if you have all the flexibility that the off-site program allows, why would you cluster your off-site affordables in a new West Loop highrise that costs $500/sf to build, when you could put them in midrises that cost $350/sf to build? I assume they can't find land cheap enough to do 6-flats within the 2-mile radius stipulated by the ARO - those 6-flats would be cheaper still to build.

Maybe it has something to do with the 80/20 bill in Springfield that Curt Bailey is arguing for...
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Last edited by ardecila; Aug 14, 2019 at 10:40 PM.
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  #227  
Old Posted Oct 15, 2019, 1:31 AM
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https://www.chicagobusiness.com/comm...ffice-building


October 14, 2019 05:26 PM updated 3 hours ago
Related Midwest proposing West Loop office building
The developer wants to build an 18-story office building along next to a site where it is planning a 58-story hotel and apartment tower.

Danny Ecker




Quote:
Related Midwest is adding a big office building and 75 more hotel rooms to its plan for a high-profile West Loop hotel and residential tower along the Kennedy Expressway.

More than a year after the developer won City Council approval for a 58-story skyscraper along Randolph Street between the highway and Halsted Street, it has expanded its plan to include the full block south of the site, where it aims to develop an 18-story office building, according to a notice sent last week to West Loop property owners.

The revised plan, which would require city approval, also increases the number of rooms to 240 from the previous 165 in the hotel portion, which is slated to be an Equinox hotel through a partnership with the fitness club chain. The plan still includes 370 apartments originally proposed for the tower, according to the notice.

The exact size of the office project is unclear and a spokeswoman for Related Midwest declined to comment. But a building on the site could be larger than 200,000 square feet based on the size of the parcel and potential zoning and density bonuses for the land along Washington Boulevard between Halsted and the Kennedy. Cook County property records show a Related Midwest venture paid $20 million in August for a large portion of that block that is occupied today by a Bank of America branch location.
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  #228  
Old Posted Oct 15, 2019, 2:32 PM
rlw777 rlw777 is offline
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^ I was wondering why they were taking so long on this one. Glad to hear that little Bank of America branch will be biting the dust. Someone inform Related there is a Walgreen's a few blocks south that's begging for demolition.
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  #229  
Old Posted Oct 15, 2019, 2:37 PM
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Would love to see that BOA branch gone but maybe, just maybe, they can spare the building at 724 W Washington?
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  #230  
Old Posted Oct 15, 2019, 3:15 PM
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so nice to hear that that stupid little BofA branch will be biting the dust!

now we just need to get rid of that fucking walgreens.
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  #231  
Old Posted Oct 15, 2019, 3:29 PM
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Originally Posted by jimjoe45 View Post
Would love to see that BOA branch gone but maybe, just maybe, they can spare the building at 724 W Washington?
Unfortunately, I'm pretty sure 724 Washington is already to be demolished as part of the original proposal--note this rendering viewing the original proposal from the southwest:



This new tower is specifically for the BOA lot. Net positive to get the new tower and lose the BOA building, but still unfortunate.
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  #232  
Old Posted Oct 15, 2019, 4:24 PM
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Adding 6 floors should put this very close to 700ft right?
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  #233  
Old Posted Oct 15, 2019, 8:06 PM
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Originally Posted by aaron38 View Post
Adding 6 floors should put this very close to 700ft right?
It was originally proposed at 58 floors and 680'.

Look at the diagram on page 1.

Perhaps there reverting back.

An 18-story building with office height floors will add visual heft and decent height to the western Kennedy tower wall.
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  #234  
Old Posted Oct 29, 2019, 5:46 PM
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  #235  
Old Posted Oct 29, 2019, 5:51 PM
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So it gets approved by the plan commission at 52 stories and 615 feet and now is coming back at 58 stories and 550 feet? That doesn't really add up.
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  #236  
Old Posted Oct 29, 2019, 6:10 PM
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So it gets approved by the plan commission at 52 stories and 615 feet and now is coming back at 58 stories and 550 feet? That doesn't really add up.
I didn't read through the entire document to confirm, but the elevation drawings only show the tower at 48 floors, possibly 49 if there is one mechanical floor behind the screen. 58 was likely a misprint.
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  #237  
Old Posted Oct 29, 2019, 6:22 PM
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(550' + 250') > (615' + podium)
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  #238  
Old Posted Oct 29, 2019, 7:03 PM
chicubs111 chicubs111 is offline
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So looks like they gave back some height in exchange for another shorter building next to it..
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  #239  
Old Posted Oct 29, 2019, 7:06 PM
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All that hype and buildup, and they settled for this. At least my "source" from a year ago on 1000M proved to be wrong, making me look like an utter idiot, therefore countering this mega-disappointment. Such monumental mediocrity. Perhaps we should expect the same sort of failure to carry over to the 78... Related being Related
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  #240  
Old Posted Oct 29, 2019, 7:26 PM
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The height cut isn't really that bad, still a cool development I guess, nothing great but does bring 500+ height to this part of town
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