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  #461  
Old Posted May 23, 2018, 5:33 PM
Notyrview Notyrview is offline
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Let this project sink and let WPS get all the tenants
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  #462  
Old Posted May 23, 2018, 5:44 PM
Vlajos Vlajos is offline
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Originally Posted by KWillChicago View Post
500K is mega massive. Wouldnt that be half the building?
It has to be very close to 50%. Why is Salesforce looking for so much space here?
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  #463  
Old Posted May 23, 2018, 6:21 PM
PleasantlyMidway PleasantlyMidway is offline
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Originally Posted by Vlajos View Post
It has to be very close to 50%. Why is Salesforce looking for so much space here?
They would probably need to pre-lease at least 50% of the building to kick off the project and there are only a couple tenants of that size in the market.

And with Post Office bringing 2.4M SF online in a year, it's pretty tough to justify another 1M SF new development without an anchor tenant of that size.

Salesforce might look at the middle Wolf Point building too. I am not sure when their lease expires at 111 W Illinois but it's probably around 4-6 years from now. They want high visibility top-of-building signage too, and the mayor's office doesn't give that up unless you take more than 500,000 SF or are a headquarters location.

Last edited by PleasantlyMidway; May 23, 2018 at 6:38 PM.
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  #464  
Old Posted May 23, 2018, 6:43 PM
Vlajos Vlajos is offline
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Originally Posted by PleasantlyMidway View Post
They would probably need to pre-lease at least 50% of the building to kick off the project and there are only a couple tenants of that size in the market.

And with Post Office bringing 2.4M SF online in a year, it's pretty tough to justify another 1M SF new development without an anchor tenant of that size.

Salesforce might look at the middle Wolf Point building too. I am not sure when their lease expires at 111 W Illinois but it's probably around 4-6 years from now. They want high visibility top-of-building signage too, and the mayor's office doesn't give that up unless you take more than 500,000 SF or are a headquarters location.
That's got to be more space than they have in Indianapolis, which I thought was the second biggest outpost for Saleforce.

Edit: it is double the Indy office, which is 250K SF. And Salesforce appears to have about 117K SF in Chicago currently.

Last edited by Vlajos; May 23, 2018 at 8:45 PM. Reason: SF updates
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  #465  
Old Posted May 23, 2018, 11:55 PM
The Lurker The Lurker is offline
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Let this project sink and let WPS get all the tenants
Wolf Point South is not certain to be programmed as an office building

https://chicago.curbed.com/2018/1/24...ent-renderings
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  #466  
Old Posted May 24, 2018, 3:22 PM
PleasantlyMidway PleasantlyMidway is offline
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Wolf Point South is not certain to be programmed as an office building

https://chicago.curbed.com/2018/1/24...ent-renderings
The last programming was 80% office and the top 20% residential. Large plates and lots of corners, very similar to the images in your Curbed link. Residential lobby on the north end of the building and 2 story office lobby on the south end. Pretty big core because of the separate residential elevators going up 60 floors.

Last edited by PleasantlyMidway; May 24, 2018 at 6:50 PM.
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  #467  
Old Posted May 24, 2018, 3:27 PM
Vlajos Vlajos is offline
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^ is your source for the Salesforce 500,000 SF of space solid? Becuase that seems like pretty big news if true.
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  #468  
Old Posted May 24, 2018, 3:32 PM
Investing In Chicago Investing In Chicago is offline
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Originally Posted by Vlajos View Post
That's got to be more space than they have in Indianapolis, which I thought was the second biggest outpost for Saleforce.

Edit: it is double the Indy office, which is 250K SF. And Salesforce appears to have about 117K SF in Chicago currently.
I'm quite close to Salesforce (my wife is a VP there and I work for a competitor), and they are doubling down on Chicago as one of their sales hubs. Indy was inherited through the Exact Target acquisition (Salesforce Marketing Cloud), from my understanding it was never their intent to keep indy as the regional hub.

Most of the expansion in Chicago will be Sales related jobs, which is great IMO because they are typically higher paying than "tech" jobs.
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  #469  
Old Posted May 24, 2018, 3:37 PM
Vlajos Vlajos is offline
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Originally Posted by Investing In Chicago View Post
I'm quite close to Salesforce (my wife is a VP there and I work for a competitor), and they are doubling down on Chicago as one of their sales hubs. Indy was inherited through the Exact Target acquisition (Salesforce Marketing Cloud), from my understanding it was never their intent to keep indy as the regional hub.

Most of the expansion in Chicago will be Sales related jobs, which is great IMO because they are typically higher paying than "tech" jobs.
Got it. That makes a lot of sense.
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  #470  
Old Posted May 24, 2018, 3:44 PM
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Thats great news for Chicago. Does anyone have an update on the design. Yes, I'm frowning while asking that.
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  #471  
Old Posted May 24, 2018, 6:47 PM
PleasantlyMidway PleasantlyMidway is offline
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Originally Posted by KWillChicago View Post
Thats great news for Chicago. Does anyone have an update on the design. Yes, I'm frowning while asking that.


Edit: This is from over a year ago... not sure if anything has changed

Last edited by PleasantlyMidway; May 24, 2018 at 7:02 PM.
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  #472  
Old Posted May 24, 2018, 6:52 PM
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  #473  
Old Posted May 24, 2018, 6:53 PM
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^^ crap.

what a let-down.
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  #474  
Old Posted May 24, 2018, 6:56 PM
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  #475  
Old Posted May 24, 2018, 6:56 PM
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I don't mind this one going away.
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  #476  
Old Posted May 24, 2018, 7:00 PM
k1052 k1052 is offline
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lol seriously
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  #477  
Old Posted May 24, 2018, 7:09 PM
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yikes

quick, someone kill it before it lays eggs
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  #478  
Old Posted May 24, 2018, 7:19 PM
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Gah! Seriously? Just build the original design.
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  #479  
Old Posted May 24, 2018, 7:33 PM
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I'm fine with keeping this one an empty lot for a little while longer...
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  #480  
Old Posted May 24, 2018, 7:35 PM
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