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  #2001  
Old Posted Dec 9, 2015, 11:39 PM
LouisVanDerWright LouisVanDerWright is offline
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Originally Posted by the urban politician View Post
Regarding Ed Debevic's and the Gino's project, it will be pretty neat to see 2 skyscrapers going up right across the street from eachother. Talk about an instant canyon!

I wonder what it was like to walk around the Loop in the late 19th century and just see so much transformation so fast. Despite how much things are booming of late, I don't think anything we are witnessing now would compare to that.
I don't know, this boom is becoming a lot more interesting than the last one. It's not about the glamour projects, it's about the rapid transformation on the small scale. There are entire parts of town that I would hardly recognize 5 years ago already. There are 3 or 4 big four or five floor buildings under construction on formerly vacant lots along the Kennedy. There are skyscrapers going up at Fullerton and California. Not just a one off or something, but multiple mid rises under construction along Milwaukee Ave from Fullerton in to downtown.

The breadth of this boom is becoming overwhelming and rates are still going to stay relatively low for what looks like years at this point. Obviously things are starting to get a bit frothy, but there is also a real demographic need here given the unique size and position of the Millennial age group. I'm already just as interested in the crop of skyscrapers (which have a generally higher quality than the last boom of beige boxes) in this boom as the last despite the smaller size and impact of the previous crop. There are a lot of buildings going up in locations that were almost unheard of before. That is very interesting and I think much more like the growth patterns that we only saw once before: when the city was first constructed. We are not confined to the North Side and very core of downtown anymore. There are vast tracts of land to gobble up immediately proximate to the CBD and the market is dealing with that supply at a much quicker rate over a much larger area than before. Like I said, when you have multiple skyscrapers proposed and under construction in freaking Logan Square, you know something is up. What would you have thought of that if someone said that would happen even 7 years ago? They'd be laughed at.
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  #2002  
Old Posted Dec 10, 2015, 12:09 AM
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Stellar photo tour, SolarWind - thank you.
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  #2003  
Old Posted Dec 10, 2015, 12:16 AM
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Originally Posted by SolarWind View Post
December 8, 2015



Difficult to process all of the photos! Nice work SW!

What's up with the concrete perimeter on this one?
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  #2004  
Old Posted Dec 10, 2015, 1:10 AM
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^ Strange. I'm curious as well.
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  #2005  
Old Posted Dec 10, 2015, 1:38 AM
BrinChi BrinChi is offline
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Cedar Hotel facade

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Originally Posted by Ned.B View Post
An 18 story Viceroy Hotel by Goettsch Partners. The Cedar Hotel facade is being disassembled and stored, and will be reconstructed as the podium for the new building.
I just can't believe it's more efficient to do it this way. These people must be really good at puzzles.
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  #2006  
Old Posted Dec 10, 2015, 1:45 AM
UrbanLibertine UrbanLibertine is offline
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All of these projects seem to be cruising except Walton, which is moving at a snail's pace.
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  #2007  
Old Posted Dec 10, 2015, 2:14 AM
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Originally Posted by UrbanLibertine View Post
All of these projects seem to be cruising except Walton, which is moving at a snail's pace.
From my understanding 9 Walton is building underground parking, which could explain both the long timeline on getting above ground and the concrete perimeter (only tracking construction in Chicago I'm not sure on these points – don't think I've seen a project with underground parking since I started following).
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  #2008  
Old Posted Dec 10, 2015, 2:53 AM
LouisVanDerWright LouisVanDerWright is offline
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Yes, they are building a secant wall and excavating downwards at No. 9. That means a lot more steps of construction underground before you can move above ground. The concrete perimeter is the cap of the secant wall.
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  #2009  
Old Posted Dec 10, 2015, 6:45 AM
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Originally Posted by Near North Resident View Post
probably a little higher than 7 inches
My bad. Mistakes like that can lead to miniature stonehenges!
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  #2010  
Old Posted Dec 10, 2015, 11:25 AM
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Looks like 800 N Wells is moving along. This is the 23 story, 58 unit building with ground floor retail. A demolition building permit was issued for the existing building on 12/1 there. The owner on the permit is listed as Smithfield, who is the developer of this new project.
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  #2011  
Old Posted Dec 10, 2015, 1:54 PM
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^ Here's the visual, though I can't recall seeing a rendering..


On that note, and continuing the Boom discussion above, throughout the last 5 or so years in following this thread, I've been able to identify just about every development around the city, no matter the size of the project. Driving through the city, my pops would ask me; "what's that one.. and this one, etc.," and I'd have an answer. There is now so much going up in River North, Sloop and the outlying 'hoods that I have completely lost track of what's what. That's a good thing.
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  #2012  
Old Posted Dec 10, 2015, 3:17 PM
rlw777 rlw777 is offline
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Originally Posted by r18tdi View Post
My bad. Mistakes like that can lead to miniature stonehenges!
Reminds me of the World's Smallest Skyscraper developed by a con man who got $200,000 from investors in 1919 to build a 480" tall skyscraper.
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  #2013  
Old Posted Dec 10, 2015, 3:22 PM
marothisu marothisu is offline
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Quote:
Originally Posted by Skyguy_7 View Post
^ Here's the visual, though I can't recall seeing a rendering..
I seem to remember Spyguy having renderings of this thing...

Quote:
On that note, and continuing the Boom discussion above, throughout the last 5 or so years in following this thread, I've been able to identify just about every development around the city, no matter the size of the project. Driving through the city, my pops would ask me; "what's that one.. and this one, etc.," and I'd have an answer. There is now so much going up in River North, Sloop and the outlying 'hoods that I have completely lost track of what's what. That's a good thing.
Hah - same. I have a friend who makes fun of me for it (though some of his friends who are multi millionaires and in the business in the suburbs started asking me about stuff happening in Chicago as if they wanted to do something in the city now). Now though, there's a few where I just think "wait a minute..what's that one again"
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  #2014  
Old Posted Dec 10, 2015, 3:29 PM
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Former Gino's on the left, former Ed's on the right, possible Blanc site just behind and cranes from the two river office towers in the far background.

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  #2015  
Old Posted Dec 10, 2015, 3:40 PM
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Quote:
Originally Posted by emathias View Post
Former Gino's on the left, former Ed's on the right, possible Blanc site just behind and cranes from the two river office towers in the far background.

That is a beautiful site. So much construction going on , and I love it.
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  #2016  
Old Posted Dec 10, 2015, 4:06 PM
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Shapack is planning a mid-rise hotel in the Fulton Market area (Green/Lake) – 11 stories. No word on operator yet.

http://www.chicagobusiness.com/reale...l-a-block-away
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  #2017  
Old Posted Dec 10, 2015, 4:20 PM
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Quote:
Originally Posted by emathias View Post
Former Gino's on the left, former Ed's on the right, possible Blanc site just behind and cranes from the two river office towers in the far background.

Looking forward to the new construction... but admittedly part of me is sad. That quirky Gino's east location with all the writings all over the place, and the tacky, silly but lovable ed debevic's... gonna miss them.
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  #2018  
Old Posted Dec 10, 2015, 4:24 PM
Ned.B Ned.B is online now
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Cedar Hotel Facade

Quote:
Originally Posted by BrinChi View Post
I just can't believe it's more efficient to do it this way. These people must be really good at puzzles.
As part of the reconstruction, the facade is being built with the first floor 1'-4" taller, and set at a slightly higher elevation. The original design had an unusually short first floor (storefronts were only 8'-0" tall and the hotel entrance doors were only 6'-6") which had been made worse by raising grades in the plaza and State street over the years. If anyone ever frequented the patio bar, you may have noticed that the main building entrance was actually a step below the plaza.

Last edited by Ned.B; Dec 10, 2015 at 5:38 PM.
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  #2019  
Old Posted Dec 10, 2015, 4:40 PM
SamInTheLoop SamInTheLoop is offline
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Quote:
Originally Posted by marothisu View Post
Looks like 800 N Wells is moving along. This is the 23 story, 58 unit building with ground floor retail. A demolition building permit was issued for the existing building on 12/1 there. The owner on the permit is listed as Smithfield, who is the developer of this new project.

This is condo, right?

If so, has Smithfield begun selling units??

If not (although I find this quite unlikely), I'd imagine these will be some of the largest, most expensive (at least chunk price-wise) tower rental units around town....
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  #2020  
Old Posted Dec 10, 2015, 4:48 PM
SamInTheLoop SamInTheLoop is offline
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Originally Posted by VKChaz View Post
Am curious, is there a target vacancy rate you have in mind that will help to pressure new construction forward? IIRC, the CBD rate was recently reported to be around 12.8%.
Not really a magic number.........definitely support Jibba and RLW's points: it's more about a certain class/type of space, and more particularly new(ish) space within this category, and even more particularly still, larger blocks of such/larger tenants in the market for such (as this is what typically launches a new project).

There are definitely a bunch of medium-to-large size tenants currently in the market that would value brand new A+ space, and the fact that there is essentially no or next-to no contiguous large block space left in the two towers currently under construction is a very good sign for at least a couple additional launches over the next year....
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