CHICAGO | Highrise Projects & Construction, v7

[BorisMolotov]

Regarding that Roosevelt Road proposal, here is where it will be. In the now leasing sign you can kinda see the rendering for it.
https://goo.gl/maps/NEFs7R9uh312

[BonoboZill4]

Originally Posted by BorisMolotov

Regarding that Roosevelt Road proposal, here is where it will be. In the now leasing sign you can kinda see the rendering for it.
https://goo.gl/maps/NEFs7R9uh312

I can confirm that it is already under construction. I drive by that area all the time

[SolarWind]

October 1, 2018

[SolarWind]

October 1, 2018

[r18tdi]

Originally Posted by BorisMolotov

Regarding that Roosevelt Road proposal, here is where it will be. In the now leasing sign you can kinda see the rendering for it.
https://goo.gl/maps/NEFs7R9uh312

Originally Posted by BonoboZill4

I can confirm that it is already under construction. I drive by that area all the time

Bob's discount furniture. How exciting.
https://www.rejournals.com/new-42,00...-loop-20180502

[PittsburghPA]

That sucks. Those types of developments should be relegated to suburbia in my opinion.

[Randomguy34]

October's Plan Commission might be the biggest one yet. Here are all the highrises planned:

- The River District will have 3 subareas (A,B,C) w/ total units of 4,099. Subarea A will have buildings 508’, 378’, 154’ and 124’ tall and 1,500 units
- The UChicago hotel at 1225 E. 60th Street will be 12 stories, 155'.
- Site 'O' will be 610' w/ 640 units & 570 hotel keys
- Site 'IJKL' is being proposed as well w/ 1,700 units and not exceed 950'
- 353 West Grand Avenue by Onni Group will be 452' and have 356 units
- 45-75 West Illinois St (Firehouse redevelopment site) will be 455'
- Tower adjacent to Union Station will be 715'

Proposals: https://www.cityofchicago.org/conten...018_Agenda.pdf

[PittsburghPA]

Originally Posted by Randomguy34

October's Plan Commission might be the biggest one yet. Here are all the highrises planned:

- The River District will have 3 subareas (A,B,C) w/ total units of 4,099. Subarea will have buildings 508’, 378’, 154’ and 124’ tall and 1,500 units
- The UChicago hotel at 1225 E. 60th Street will be 12 stories, 155'.
- Site 'O' will be 610' w/ 640 units & 570 hotel keys
- Site 'IJKL' is being proposed as well w/ 1,700 units and not exceed 950'
- 353 West Grand Avenue by Onni Group will be 452' and have 356 units
- 45-75 West Illinois St (Firehouse redevelopment site) will be 455'
- Tower adjacent to Union Station will be 715'

Proposals: https://www.cityofchicago.org/conten...018_Agenda.pdf

Awesome! So if one of the above projects passes this vote then are they cleared for construction or are they other steps yet to be completed?

[r18tdi]

Originally Posted by PittsburghPA

Awesome! So if one of the above projects passes this vote then are they cleared for construction or are they other steps yet to be completed?

There are additional committee and council votes afterwards but it's pretty rare for a project to pass plan commission and not sail through.
Projects also need to get permitted before construction, which can sometimes take longer than expected.

[the urban politician]

Originally Posted by PittsburghPA

Awesome! So if one of the above projects passes this vote then are they cleared for construction or are they other steps yet to be completed?

The most difficult step of all:

$$$

[SamInTheLoop]

^ aldermanic ‘campaign donation’ or construction financing?

[Notyrview]

Originally Posted by Randomguy34

October's Plan Commission might be the biggest one yet. Here are all the highrises planned:

- The River District will have 3 subareas (A,B,C) w/ total units of 4,099. Subarea will have buildings 508’, 378’, 154’ and 124’ tall and 1,500 units
- The UChicago hotel at 1225 E. 60th Street will be 12 stories, 155'.
- Site 'O' will be 610' w/ 640 units & 570 hotel keys
- Site 'IJKL' is being proposed as well w/ 1,700 units and not exceed 950'
- 353 West Grand Avenue by Onni Group will be 452' and have 356 units
- 45-75 West Illinois St (Firehouse redevelopment site) will be 455'
- Tower adjacent to Union Station will be 715'

Proposals: https://www.cityofchicago.org/conten...018_Agenda.pdf

Nice. These two new River North proposals are pretty substantial glass towers, and both look pretty slick. Add in OCS, and in just a few more years and we can say goodbye to the hegemony of the beige buildings from the oughts.



- 353 West Grand Avenue by Onni Group will be 452' and have 356 units


- 45-75 West Illinois St (Firehouse redevelopment site) will be 455'

[the urban politician]

Originally Posted by SamInTheLoop

^ aldermanic ‘campaign donation’ or construction financing?

Good question!

I would presume construction financing, but I guess it depends on the Alderman

[LouisVanDerWright]

^ No, campaign donation always comes before zoning approval.

[Skyguy_7]

Originally Posted by Randomguy34

October's Plan Commission might be the biggest one yet. Here are all the highrises planned:

- The River District will have 3 subareas (A,B,C) w/ total units of 4,099. Subarea will have buildings 508’, 378’, 154’ and 124’ tall and 1,500 units
- The UChicago hotel at 1225 E. 60th Street will be 12 stories, 155'.
- Site 'O' will be 610' w/ 640 units & 570 hotel keys
- Site 'IJKL' is being proposed as well w/ 1,700 units and not exceed 950'
- 353 West Grand Avenue by Onni Group will be 452' and have 356 units
- 45-75 West Illinois St (Firehouse redevelopment site) will be 455'
- Tower adjacent to Union Station will be 715'

Proposals: https://www.cityofchicago.org/conten...018_Agenda.pdf

Holy Smokes. That's 12 towers (+-) at a single meeting. Never could have imagined such an agenda. Great to see developers are still bullish, especially considering it'll be nearly two years until they see any ROI.. What a time to be alive!

[PittsburghPA]

Here is a good breakdown.

https://chicago.curbed.com/2018/10/2...station-towers

I'm surprised River View doesn't have its own proposal page on here.

[BonoboZill4]

The view out West:

[paytonc]

Originally Posted by SamInTheLoop

^ aldermanic ‘campaign donation’ or construction financing?

It doesn't even get to zoning if the alderman's not happy with it.

I personally doubt that all of these will get built in this cycle, especially those like the River District that depend on getting a lot of infrastructure delivered first. National multifamily investment and construction peaked in early 2016 and have been trending down since then. Anyone making a high-rise construction loan today is betting that there will be exit financing in early 2021, by which point we could easily be in a recession.

[kolchak]

Originally Posted by Notyrview

Nice. These two new River North proposals are pretty substantial glass towers, and both look pretty slick. Add in OCS, and in just a few more years and we can say goodbye to the hegemony of the beige buildings from the oughts.



- 353 West Grand Avenue by Onni Group will be 452' and have 356 units


- 45-75 West Illinois St (Firehouse redevelopment site) will be 455'

Yes. The mixture will be a blessing. Having those beige buildings reflected off new glass towers will also create a great prismatic effect on the streetscape.

[Notyrview]

^ Yeah I agree. Not gonna go as far as saying that Grand Plaza or AMLI are blessings, but diversity is always a good thing for the cityscape. Now that we're seeing more of it in River North, it takes the sting out of some of the real sham developments, and I'll be peeling bananas once we get more rumblings of OCS site prep.