CHICAGO | Highrise Projects & Construction, v7

[BrinChi]

Originally Posted by i_am_hydrogen

That building was torn down a few years ago. It should have preserved.

I understand and I agree... it's especially a slap in the face when they are allowed to knock old buildings down before financing is ready for the new project. We should at least have that requirement. Destruction of the old CBOT (Franklin & Randolph) is the worst example of this.

[k1052]

Originally Posted by BrinChi

I understand and I agree... it's especially a slap in the face when they are allowed to knock old buildings down before financing is ready for the new project. We should at least have that requirement. Destruction of the old CBOT (Franklin & Randolph) is the worst example of this.

Er in this particular case Bill Smith's sudden death probably had more to do with the delay than a lack of available financing.

[BrinChi]

Originally Posted by k1052

Er in this particular case Bill Smith's sudden death probably had more to do with the delay than a lack of available financing.

Bill Smith's death is why the one-story building there now is a rug store or whatever... but they knocked down the old buildings just to create a temporary 1-story condo sales building. There was no assurance that the condos would sell.

[SamInTheLoop]

Originally Posted by k1052

Er in this particular case Bill Smith's sudden death probably had more to do with the delay than a lack of available financing.

Totally. Smithfield seemed to have a consistently very solid track record. I think Bill Smith was essentially synonymous with his company, and his death was likely solely responsible for 808 N Wells not happening. Building design was always one great strength of Smithfield. I looked forward to every new project of theirs since Erie and Kingsbury on the Park in western River North.
The Smithfield/Berkelhamer design was far superior to what AMLI is putting up. Not even remotely on the same level. That stated, by AMLI's quite low standards, this one is pretty inoffensive. Just a shame about Smith's passing and with it, I'm assuming his solid development outfit.

[k1052]

Originally Posted by BrinChi

Bill Smith's death is why the one-story building there now is a rug store or whatever... but they knocked down the old buildings just to create a temporary 1-story condo sales building. There was no assurance that the condos would sell.

Had he lived and condos not been viable I suspect that he'd of switched to a denser rental building like is now going to happen. The time gap is unfortunate but seemingly unavoidable due to circumstances.

[k1052]

Originally Posted by SamInTheLoop

Totally. Smithfield seemed to have a consistently very solid track record. I think Bill Smith was essentially synonymous with his company, and his death was likely solely responsible for 808 N Wells not happening. Building design was always one great strength of Smithfield. I looked forward to every new project of theirs since Erie and Kingsbury on the Park in western River North.
The Smithfield/Berkelhamer design was far superior to what AMLI is putting up. Not even remotely on the same level. That stated, by AMLI's quite low standards, this one is pretty inoffensive. Just a shame about Smith's passing and with it, I'm assuming his solid development outfit.

They had some other projects in different cities in the hopper also that never came to fruition after his death AFAIK.

[chicubs111]

Tidbit From Crains article about leasing to tech firm at 333 north Green...referencing the Coyne site directly across... looks like can be starting soon...

"With 333 N. Green nearly leased, Lirtzman is courting tenants for Sterling Bay’s next office development, an 18-story, 670,000-square-foot building at 330 N. Green St., just across the street from Flexport’s new home. The developer “is in active negotiations” with some anchor tenants for the project and aims to break ground early next year, he said."
https://www.chicagobusiness.com/comm...-fulton-market

[RedCorsair87]

I LOVE The Porch (330 Green). Can't wait for that one to start.

[rivernorthlurker]

Originally Posted by RedCorsair87

I LOVE The Porch (330 Green). Can't wait for that one to start.

I am a fan too. I like 360 a lot actually. See https://chicago.curbed.com/2018/1/25...s-sterling-bay

I couldn't find any info about 360 on Sterling's site: https://www.sterlingbay.com/developments Anyone have any updates/timetable on 360 Green?

[sox102]

Originally Posted by RedCorsair87

I LOVE The Porch (330 Green). Can't wait for that one to start.

Power has awarded the curtain wall to Mid-States. They also did 333 N Green.

[rgarri4]

Originally Posted by rivernorthlurker

I am a fan too. I like 360 a lot actually. See https://chicago.curbed.com/2018/1/25...s-sterling-bay

I couldn't find any info about 360 on Sterling's site: https://www.sterlingbay.com/developments Anyone have any updates/timetable on 360 Green?

From what I've been told 360 has a placeholder design. One of several actually. Things will probably develop after the Porch gets off the ground.

[Handro]

Originally Posted by chicubs111

Tidbit From Crains article about leasing to tech firm at 333 north Green...referencing the Coyne site directly across... looks like can be starting soon...

"With 333 N. Green nearly leased, Lirtzman is courting tenants for Sterling Bay’s next office development, an 18-story, 670,000-square-foot building at 330 N. Green St., just across the street from Flexport’s new home. The developer “is in active negotiations” with some anchor tenants for the project and aims to break ground early next year, he said."
https://www.chicagobusiness.com/comm...-fulton-market

I heard recently that demo of Coyne is scheduled for March or April 2020, but take it with a grain of salt: my friend said lots may have changed since last he heard about the project earlier this year.

[rivernorthlurker]

Originally Posted by rgarri4

From what I've been told 360 has a placeholder design. One of several actually. Things will probably develop after the Porch gets off the ground.

Thanks for the info - didn't know it was a placeholder. Yeah, I figured they are doing these in series order - guess we'll just have to wait patiently.

[UPChicago]

Originally Posted by rgarri4

From what I've been told 360 has a placeholder design. One of several actually. Things will probably develop after the Porch gets off the ground.

Is the architect Gensler?

[rivernorthlurker]

Little yellow crane disassembles medium black crane that put together the big red crane.

https://app.oxblue.com/open/thorequities/800westfulton

[SamInTheLoop]

Originally Posted by RedCorsair87

I LOVE The Porch (330 Green). Can't wait for that one to start.

Partial to the design for that one as well.

[BVictor1]

Originally Posted by rivernorthlurker

Little yellow crane disassembles medium black crane that put together the big red crane.

https://app.oxblue.com/open/thorequities/800westfulton

Speaking of...

https://therealdeal.com/chicago/2019...for-new-tower/

Thor Equities lands $144M construction loan for new tower
Bank of Nova Scotia provided the debt on the 18-story building at 800 W. Fulton St.

TRD CHICAGO /
December 05, 2019 10:03 AM
By Jacqueline Flynn Research by Jerome Dineen

A development team led by Thor Equities secured a $144 million construction loan for its spec office tower in Fulton Market, The Real Deal has learned.

Bank of Nova Scotia provided the fixed-rate, five-year loan.

Thor Equities began assembling properties for the 18-story office and retail tower in 2016, when it bought 800 W. Fulton Market for $36 million. Thor purchased the final parcel of land for the project in 2018.

QuadReal Property Group is a partner in the project, which broke ground last month. It is expected to be completed and open in 2021. Original plans showed a 20-story office complex there, but that was trimmed following closed-door discussions with neighbors.

[SamInTheLoop]

Originally Posted by jc5680

Fancy fencing and construction trailer on site at 1025 w Fulton. Looked like someone was on site walking the lot too, so I think this is new/recent

hmmmm.....webpage for that one still states office or hotel. wonder if that is out-of-date and they've already decided?

[SamInTheLoop]

Originally Posted by spyguy

Rather bland design but about what I was expecting for this location. I'll take it even though I'll somewhat miss the Cassidy Tire building. Interested to see what Vornado does to the north.

Yeah, that's uninspired. I'd have hoped for something more from Habitat and SCB. They've stepped up there game with each of their past few downtown towers - from 400 N LaSalle to Kingsbury Plaza to Hubbard Place.....this feels like stagnation design-wise, instead of iterative improvement.

But in the end, I'll take it as well. I mean - it's not bad....and it's a nice shot of additional residential density in a locale that really needs it. Still, they could do better.

[SamInTheLoop]

Originally Posted by chicubs111

Barnes & Noble site sells for $61 million, despite 368-unit apartment tower proposal getting shot down

"A developer whose plans to replace a Barnes & Noble bookstore with a 39-story apartment tower were rejected by a Chicago alderman bought the property anyway.

The $61 million deal could foreshadow more rounds of zoning negotiations for the space on the Near North Side, which now contains the bookstore and a Lou Malnati’s pizzeria."

I cant stand the anti height argument in this city...developer pays 61 million for prime site in Chicago and now has to deal with an alderman basically controlling his fate with the zoning change game.

https://www.chicagotribune.com/colum...oja-story.html

I certainly agree with subsequent comments critical of aldermanic prerogative and am also critical of what is in my opinion massive underzoned swaths of the city as well as certain PD triggers that I think are too low.

That stated, Newcastle knows the situation here well. They are making this investment and have obviously evaluated the risks involved.

One must wonder if there has been a 'gentleman's agreement' here in terms of what they'll get entitled for.....or, perhaps in their view this is just a very prime site, and they've penciled-out that they are confident they'll get a satisfactory return under current zoning (which they could go in under - or, they could make a run at something larger and as-is would be their fallback).