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  #9061  
Old Posted Sep 13, 2017, 8:56 AM
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Quote:
Originally Posted by harryc View Post
Sept 8

Just finishing up - the impact on the street level is hard to overstate.


Note the decks one only 2 floors up from the sidewalk, the street level shops ...
How the hell does this get approved? Horrible.
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Last edited by Steely Dan; Sep 13, 2017 at 2:02 PM.
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  #9062  
Old Posted Sep 13, 2017, 12:52 PM
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It's above average honestly. At least there's life on the second floor and not 6 floors of sterile parking podium. Just keep building around it, it'll blend in and disappear.
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  #9063  
Old Posted Sep 13, 2017, 1:28 PM
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How the hell does this get approved? Horrible.
The building itself isn't the most aesthetically pleasing, but the ground level is treated quite well and has done amazing things to inject more pedestrian life on to this stretch of Chicago. As well, leasing is well over 80% from what I've been told.
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  #9064  
Old Posted Sep 13, 2017, 1:30 PM
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Sterling Bay's Finkl Steel proposal for Amazon is being discussed in the general chicago development thread.

please continue all discussion regarding it there: http://forum.skyscraperpage.com/showthread.php?t=105764
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  #9065  
Old Posted Sep 13, 2017, 2:00 PM
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Apparently "The Bentham" received it's foundation permit two days ago. With Marlowe and FLATS also being developed on the same block, this is probably the busiest block in downtown at the moment. 356 units are basically going to be dumped on this block next year.
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  #9066  
Old Posted Sep 13, 2017, 2:19 PM
BuildThemTaller BuildThemTaller is offline
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Originally Posted by Randomguy34 View Post
Apparently "The Bentham" received it's foundation permit two days ago. With Marlowe and FLATS also being developed on the same block, this is probably the busiest block in downtown at the moment. 356 units are basically going to be dumped on this block next year.
Wow! And how many units just hit the market on the south side of Erie? The transformation of Wells in this part of River North is something else. I love it. It has the potential of turning the street into a sort of locals hot spot with a bunch of bars and restaurants. Leave the Mag Mile for the out-of-towners while the locals hit up the local spots a few blocks away.
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  #9067  
Old Posted Sep 13, 2017, 2:36 PM
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Reached out to a member service rep at East Bank Club in regards to the soil boring:

East Bank Club is not selling. I talked to the club engineer and you are correct we did do soil boring last week and it was just to see if the club was able to support more weight if we do decide to do any capital improvements to the club. As far as the improvements that I am not sure of.

Thanks and let me know if you have any other questions.


Not the exciting news everyone was hoping for.
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  #9068  
Old Posted Sep 13, 2017, 3:43 PM
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Wow! And how many units just hit the market on the south side of Erie? The transformation of Wells in this part of River North is something else. I love it. It has the potential of turning the street into a sort of locals hot spot with a bunch of bars and restaurants. Leave the Mag Mile for the out-of-towners while the locals hit up the local spots a few blocks away.
Right! That's why I've viewed Wells St as my new favorite street to visit. I used to go to high school on Wells St and would hate walking down south of Chicago Ave because of how auto oriented everything was. Now, this is a street I love for it's urbanism and density. I know that Dollop Coffee plans to open up in The Gallery on Wells, and a couple of restaurants opened up in The Hensley and Exhibit on Superior. I did a quick calc of all the developments surrounding Wells St south of Chicago Ave, and more than 1800 units have and will continue to be delivered throughout 2017-2018
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  #9069  
Old Posted Sep 13, 2017, 4:17 PM
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Originally Posted by patrick84 View Post
The building itself isn't the most aesthetically pleasing, but the ground level is treated quite well and has done amazing things to inject more pedestrian life on to this stretch of Chicago. As well, leasing is well over 80% from what I've been told.
Their leasing page says they're offering up to 2 months free rent and will pay for your movers. I haven't seen many offers for free rent in a couple years and definitely not paying for movers. Wonder if that's starting to show the softening of the rental market.
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  #9070  
Old Posted Sep 13, 2017, 5:16 PM
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Their leasing page says they're offering up to 2 months free rent and will pay for your movers. I haven't seen many offers for free rent in a couple years and definitely not paying for movers. Wonder if that's starting to show the softening of the rental market.
There definitely is downtown and at the upper end of the market. Frankly I'm not sure what people are thinking breaking ground in places like the Milwaukee Ave corridor or downtown right now. There is no way the market holds out long enough to accommodate a 2 year construction timeline or that the Fed will hold off on jacking rates up that long.

The other part of the market that is getting hammered is units that used to be at the upper end of the market, but that were never truly upgraded. In other words people who did cosmetic upgrades on apartments, but left the victorian floor plans in place are getting destroyed right now. No one is going to pay $2100 a month for a victorian layout 3 bed 1 bath that's 4 blocks from the Caifornia blue line when they can buck up another $500/mo for a 2 bed 2 bath with floor to ceiling glass in an elevator building literally next to the train.
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  #9071  
Old Posted Sep 13, 2017, 5:24 PM
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Just let them overbuild as usual....presto....affordable housing for all!! Screws me on my rental properties but i can survive renting them for less when the leases come up unlike some of these guys who count on those insane rents.
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  #9072  
Old Posted Sep 13, 2017, 5:41 PM
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Originally Posted by Randomguy34 View Post
Apparently "The Bentham" received it's foundation permit two days ago. With Marlowe and FLATS also being developed on the same block, this is probably the busiest block in downtown at the moment. 356 units are basically going to be dumped on this block next year.
HOLY COW! I had no expectation that The Bentham would get started this year, I figured even next year would be a stretch.

I live on on the north side of Huron just across from the gutted warehouse Cedar Street is adding on to/redeveloping into apartments so have been literally surrounded by construction now for two years all ready. At least once these are all done there will be no more construction within a block of me until that rug shop on the corner of Huron/Lasalle sells out. I moved in here 13 years ago, and since then within a couple blocks of me I've watched 720 N Lasalle get built, 156 W Superior get built, and 110 W Superior, and the Godfrey, and the reno of Hotel Felix, and Flair Tower, and the Hensley, and Exhibit, and Gallery, and currently Marlowe and the Cedar St/Flats thing, and 640 N Wells. And now Bentham and probably that hotel on the corner of Clark/Huron. And I wonder when the building on the NW corner of Franklin/Huron will get going? And Blanc on the SW corner of Ontario/Wells?

I knew the area would change when I moved in here, but it just sort of puttered along for a while and then BANG exploded starting about three years ago.

Completely off-subject, but I wonder if Catholic Charities will sell out and move somewhere less fancy? In addition to the building at Lasalle/Huron, they own the parking lot at Erie/Lasalle which has to be hot property except for the adjacent gas station. I always thought for the CC building, it would be cool to rework the small side lot they have into a small garage for parking and then split that building up and convince Instituto Cervantes, Goethe-Institut, and Alliance Francaise to all three move into the building and have just a massive Euro-Culture building. With the chapel for small presentation events/movies, and multiple floors of offices and meeting rooms, it would be a pretty awesome thing to integrate.
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  #9073  
Old Posted Sep 14, 2017, 1:29 PM
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Ad giant to anchor big new Fulton Market office building

Advertising giant WPP Group plans to move its Chicago offices to a proposed building in the Fulton Market district in a major deal that further cements the former meatpacking hub as an office market.

WPP has leased 253,000 square feet from developer Sterling Bay, which plans to put an office building on land it owns on Green Street along the edge of Halsted Street and the Kennedy Expressway, WPP confirmed.

The deal means another big office building is coming to the fast-changing area, with this one expected to exceed a half-million square feet. WPP, which has 2,000 Chicago employees, said it plans to move to Fulton Market in 2020.

It is the fourth-largest office lease in downtown Chicago in 2017.

WPP plans to consolidate in the building offices from multiple downtown properties, including the neighboring Merchandise Mart and River North Point.

It's unclear exactly how large a building Sterling Bay is planning on the site, but it's believed to be at least 500,000 square feet. Sterling Bay managing principal Andy Gloor declined to comment.

article: http://www.chicagotribune.com/busine...13-column.html
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  #9074  
Old Posted Sep 14, 2017, 2:12 PM
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Originally Posted by Justin_Chicago View Post
Ad giant to anchor big new Fulton Market office building

Advertising giant WPP Group plans to move its Chicago offices to a proposed building in the Fulton Market district in a major deal that further cements the former meatpacking hub as an office market.

WPP has leased 253,000 square feet from developer Sterling Bay, which plans to put an office building on land it owns on Green Street along the edge of Halsted Street and the Kennedy Expressway, WPP confirmed.

The deal means another big office building is coming to the fast-changing area, with this one expected to exceed a half-million square feet. WPP, which has 2,000 Chicago employees, said it plans to move to Fulton Market in 2020.

It is the fourth-largest office lease in downtown Chicago in 2017.

WPP plans to consolidate in the building offices from multiple downtown properties, including the neighboring Merchandise Mart and River North Point.

It's unclear exactly how large a building Sterling Bay is planning on the site, but it's believed to be at least 500,000 square feet. Sterling Bay managing principal Andy Gloor declined to comment.

article: http://www.chicagotribune.com/busine...13-column.html
Interesting. The location is pretty vague... Anyone know if this is the Coyne college site?
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  #9075  
Old Posted Sep 14, 2017, 2:36 PM
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Originally Posted by rlw777 View Post
Interesting. The location is pretty vague... Anyone know if this is the Coyne college site?
It is according to the Tribune article.
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  #9076  
Old Posted Sep 14, 2017, 2:37 PM
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Originally Posted by rlw777 View Post
Interesting. The location is pretty vague... Anyone know if this is the Coyne college site?
It is.
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  #9077  
Old Posted Sep 14, 2017, 2:38 PM
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Interesting. The location is pretty vague... Anyone know if this is the Coyne college site?
This was mentioned in the General Developments thread, but it seems to be the lot across the street from the Coyne College site. This project is going to be more than 500,000 sqft so hopefully it becomes a high rise. This site is in a PMD and the city is planning to repeal the PMD east of Ogden Ave and revert them to their prior zoning category by then end of November. The area east will then be annexed into downtown, and the site can then be upzoned to DS or DX. In a couple of months, Sterling Bay will have to upzone in order to build something this big.

Info: https://www.cityofchicago.org/city/e...-use-plan.html
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  #9078  
Old Posted Sep 14, 2017, 2:43 PM
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https://chicago.curbed.com/chicago-d...-375-west-loop

Not sure if this belongs here or in Gen. Dev thread, but another 175K of office being called for at 375 N. Morgan. Developer is Latsko Interest.
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  #9079  
Old Posted Sep 14, 2017, 6:13 PM
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Originally Posted by Randomguy34 View Post
This was mentioned in the General Developments thread, but it seems to be the lot across the street from the Coyne College site. This project is going to be more than 500,000 sqft so hopefully it becomes a high rise. This site is in a PMD and the city is planning to repeal the PMD east of Ogden Ave and revert them to their prior zoning category by then end of November. The area east will then be annexed into downtown, and the site can then be upzoned to DS or DX. In a couple of months, Sterling Bay will have to upzone in order to build something this big.

Info: https://www.cityofchicago.org/city/e...-use-plan.html
Yes and no, there will still be a ban on residential uses north of Lake. The city has a higher focus on office use for this area which can co-exist a little better with light manufacturing and meatpacking.

Ace Hotel got approved north of Lake thanks to Sterling Bay, and Hoxton Hotel is a go at Fulton/Halsted, so I guess hotels are acceptable but residential is not.

I wish they would do something to address the at-grade rail line going into Union Station. Probably easiest just to put it up on an embankment like the UP-W line.
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  #9080  
Old Posted Sep 14, 2017, 6:37 PM
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^ You are correct. Apologies for not emphasizing that residential is still banned. I figure part of the reason why there's no hotel ban is to accommodate office workers visiting for business matters.

I know SOM had a pipedream of decking over the at-grade rail with offices. I can probably find a couple renderings of it when I'm back home.
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