CHICAGO | 725 W Randolph | 700 FT | 41 FLOORS - Page 12

ardecila · #**221** Posted **Aug 14, 2019, 10:30 PM**

^ 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...

BVictor1 · #**222** Posted **Oct 15, 2019, 1:31 AM**

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.

rlw777 · #**223** Posted **Oct 15, 2019, 2:32 PM**

^ 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.

jimjoe45 · #**224** Posted **Oct 15, 2019, 2:37 PM**

Would love to see that BOA branch gone but maybe, just maybe, they can spare the building at 724 W Washington?

Steely Dan · #**225** Posted **Oct 15, 2019, 3:15 PM**

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.

Handro · #**226** Posted **Oct 15, 2019, 3:29 PM**

Quote:

Originally Posted by jimjoe45

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.

aaron38 · #**227** Posted **Oct 15, 2019, 4:24 PM**

Adding 6 floors should put this very close to 700ft right?

BVictor1 · #**228** Posted **Oct 15, 2019, 8:06 PM**

Quote:

Originally Posted by aaron38

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.

BVictor1 · #**229** Posted **Oct 29, 2019, 5:46 PM**

550'
250'

https://chicago.legistar.com/View.as...1-550F9069F6EB

r18tdi · #**230** Posted **Oct 29, 2019, 5:51 PM**

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.

Ned.B · #**231** Posted **Oct 29, 2019, 6:10 PM**

Quote:

Originally Posted by r18tdi

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.

The Lurker · #**232** Posted **Oct 29, 2019, 6:22 PM**

(550' + 250') > (615' + podium)

chicubs111 · #**233** Posted **Oct 29, 2019, 7:03 PM**

So looks like they gave back some height in exchange for another shorter building next to it..

Kumdogmillionaire · #**234** Posted **Oct 29, 2019, 7:06 PM**

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

Zapatan · #**235** Posted **Oct 29, 2019, 7:26 PM**

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

woodrow · #**236** Posted **Oct 29, 2019, 8:20 PM**

If the window design of the Randolph side building stays the same then I don't care about the height cut, because we lose a DRIVE THRU bank on Washington for a 250 ft. tower!

Steely Dan · #**237** Posted **Oct 29, 2019, 8:25 PM**

Quote:

Originally Posted by woodrow

If the window design of the Randolph side building stays the same then I don't care about the height cut, because we lose a DRIVE THRU bank on Washington for a 250 ft. tower!

+1

the modest height cut is MORE than made up for by the elimination and redevelopment of that craptacular BofA drive-up branch bank.

RedCorsair87 · #**238** Posted **Oct 29, 2019, 9:43 PM**

What's amazing is that if this was built across the street (Kennedy), no one would have a problem.

With that being said, do we have an updated ground-breaking? This was announced two years ago (Oct 2017) in (one of) the hottest market in Chicago...

r18tdi · #**239** Posted **Oct 29, 2019, 11:01 PM**

Developer Wants To Build 18-Story Office Tower Next To Its Massive Equinox Hotel/Condo Skyscraper Project

https://blockclubchicago.org/2019/10...for-west-loop/

Quote:

While still 615 feet tall, the Equinox hotel/condo tower is now planned at 58 stories instead of 52 stories.

...

Related Midwest declined to comment on their new plans.

Not sure where the reporter is getting his info. The zoning app definitely says 550 ft. on the elevation drawings.

Chi-Sky21 · #**240** Posted **Oct 30, 2019, 12:42 AM**

Quote:

Originally Posted by RedCorsair87

What's amazing is that if this was built across the street (Kennedy), no one would have a problem.

With that being said, do we have an updated ground-breaking? This was announced two years ago (Oct 2017) in (one of) the hottest market in Chicago...

Not so sure anybody really made a big stink about this one. West loop pretty much assumes taller along the highway i think.