HomeDiagramsDatabaseMapsForumSkyscraper Posters
     

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Never Built & Visionary Projects

    

Chicago Spire in the SkyscraperPage Database

Building Data Page   • Comparison Diagram   • Chicago Skyscraper Diagram
Chicago Projects & Construction Forum
            
View Full Map

Reply

 
Thread Tools Display Modes
     
     
  #41  
Old Posted Jun 30, 2008, 8:15 PM
Mojava Mojava is offline
c h i c a g o
 
Join Date: Feb 2006
Posts: 314
Quote:
Originally Posted by The Pimp View Post
Spire developer adds a new twist
By: Eddie Baeb June 28, 2008
The world's tallest residential tower is turning into rent-a-spire.

To boost condominium sales in the proposed Chicago Spire, Irish developer Garrett Kelleher is catering to investors by offering to rent out the high-priced units at a guaranteed 7.5% return for two years.
This is certainly not a very positive story in my eyes. It shows desperation from a developer. These are the same practices that Invesco has done over the years and all of their buildings lead the city in foreclosures. Look at Invesco's reputation now. It's also telling me that the developer is saying that their condos are severely over priced and they will reimburse you over the next two years. This is a way of reducing price without actually doing so. But yeah, if it can get the spire built, more power to them.
Reply With Quote
     
     
  #42  
Old Posted Jun 30, 2008, 8:17 PM
ColumbusTim79 ColumbusTim79 is offline
Registered User
 
Join Date: Jan 2007
Posts: 70
is CASE doing this current digging?
Reply With Quote
     
     
  #43  
Old Posted Jun 30, 2008, 10:20 PM
ChiPsy's Avatar
ChiPsy ChiPsy is offline
Registered User
 
Join Date: Oct 2006
Location: Chicago
Posts: 440
Quote:
Originally Posted by Mojava View Post
This is certainly not a very positive story in my eyes. It shows desperation from a developer. These are the same practices that Invesco has done over the years and all of their buildings lead the city in foreclosures.
Yeah, but the data on which that inference is drawn (that pre-arrangements to lease units are correlated with Invesco-esque outcomes) is unique to the American marketplace. In Europe similar practices are not correlated either with bad outcomes or with desperation.

I wish that theme had been developed with more nuance (and less sensationalism) by Crain's. It seems many journalists here are so wary of appearing to be "homers" that they rush to display snarky skepticism about any ambitious, global-stage projects proposed for Chicago. The Spire is a case-in-point: It's rising despite, and not with the help of, Crains' coverage.
Reply With Quote
     
     
  #44  
Old Posted Jun 30, 2008, 10:33 PM
bbeliko's Avatar
bbeliko bbeliko is offline
Registered User
 
Join Date: Jan 2007
Location: Over the rainbow
Posts: 2,313
Quote:
Originally Posted by PIZ View Post


(Possibly add a gold tip on it, not clearified)...
Please don't it wouldn't look nice
__________________
"A couple of years ago, a couple of geniuses put on something called Woodstock Festival. It was a tragedy. Groups recognised that they could go into larger cattle markets, play less time and make more dollars. What they've done is to destroy the rock industry."- Bill Graham
Reply With Quote
     
     
  #45  
Old Posted Jun 30, 2008, 11:33 PM
alsajano's Avatar
alsajano alsajano is offline
Registered User
 
Join Date: Feb 2007
Location: Cantabria
Posts: 58
News about the London exhibition?
Reply With Quote
     
     
  #46  
Old Posted Jul 1, 2008, 12:08 AM
simcityaustin's Avatar
simcityaustin simcityaustin is offline
Registered User
 
Join Date: Mar 2007
Location: Atlanta/Chicago
Posts: 408
Taken last weekend: (Unedited)


__________________
University of Iowa! Go Hawkeyes!
No, I think I'll just go down and have some pudding and wait for it all to turn up.... It always does in the end. ~ Luna Lovegood
Chi-town fan!
Reply With Quote
     
     
  #47  
Old Posted Jul 1, 2008, 1:18 AM
Beck4ABigChicago's Avatar
Beck4ABigChicago Beck4ABigChicago is offline
Registered User
 
Join Date: Jan 2007
Posts: 246
Quote:
Originally Posted by Mojava View Post
This is certainly not a very positive story in my eyes. It shows desperation from a developer. These are the same practices that Invesco has done over the years and all of their buildings lead the city in foreclosures. Look at Invesco's reputation now. It's also telling me that the developer is saying that their condos are severely over priced and they will reimburse you over the next two years. This is a way of reducing price without actually doing so. But yeah, if it can get the spire built, more power to them.
I see your point and I tend to agree, however (and correct me if I am wrong) but I believe that this has been their plan since the inception. I recall reading about this strategy (or at least mention of the guaranteed 7.5% return) way back when he got started. I don't think this was necessarily a act of "sudden" desperation at least.
__________________
"Chicago doesn't need Bryant to feel like a big-time player, just as it doesn't need Donald Trump to build a tower downtown to feel adequate. Nice that Trump's doing it, but when you have the Sears Tower and the Hancock building, you're pretty secure with who you are. And when somebody named Michael Jordan has graced your presence, somebody named Kobe Bryant isn't going to shake your world." Rick Morrissey, 2007
Reply With Quote
     
     
  #48  
Old Posted Jul 1, 2008, 2:56 AM
UberAlles's Avatar
UberAlles UberAlles is offline
x-Chicago
 
Join Date: Sep 2005
Location: Phoenix, AZ
Posts: 676
Are the 34 large caissons complete?
Reply With Quote
     
     
  #49  
Old Posted Jul 1, 2008, 3:07 AM
tua21506 tua21506 is offline
Registered User
 
Join Date: Nov 2007
Location: philadelphia -umm loft district/chinatown, i don't know what its called
Posts: 217
3-4k view lol...

Someone could rent an apt. if they really wanted to see the view...3-4k observation deck admission price...lol
(This is just a Joke..I am not being serious so don't chew me out with no observation deck stuff because I know that there is no observation deck.)
Reply With Quote
     
     
  #50  
Old Posted Jul 1, 2008, 4:58 AM
Apex's Avatar
Apex Apex is offline
Registered User
 
Join Date: Oct 2007
Location: Indiana
Posts: 188
Quote:
Originally Posted by i_am_hydrogen View Post
LINK TO LAST PAGE OF LAST THREAD

Height: 2,000 ft
Floor count: 150
Location: East North Water and South Lake Shore Drive
Construction end: 2010
Architect: Santiago Calatrava
Development firm: Shelbourne Development Ltd.


Website
RENDERINGS DELETED
It should be noted that ALL of the renderings after the first one, up to the pic with the gold-hued base, are not accurate of the final version. Notice it lacks the indents added in the latest revision (see the small bevel-like things at all 7 vertexes?). The first and last pictures are, from what I can tell, the only accurate depictions.

Edit: Also, I'm pretty certain that cool-lookin' bridge was nixed a couple versions ago.
Reply With Quote
     
     
  #51  
Old Posted Jul 1, 2008, 6:51 AM
ardecila's Avatar
ardecila ardecila is offline
atomic
 
Join Date: Jun 2006
Location: the city o'wind
Posts: 12,396
Thanks for QUOTING all the renderings....

You didn't need to do that - your point could have stood on its own, and you could have just directed people back to the first post on the first page....

Obviously, many of those older renderings are left in there because they show details that cannot be seen in the most recent renderings. The first and last images convey very little information about the plaza, DuSable Park, the lobby, roadway configuration, etc... so slightly older images are pulled up to show those features, even if they're not totally up-to-date.
__________________
la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
Reply With Quote
     
     
  #52  
Old Posted Jul 1, 2008, 10:28 AM
harryc's Avatar
harryc harryc is offline
Registered User
 
Join Date: Jun 2007
Location: Oak Park, Il
Posts: 7,793
Quote:
Originally Posted by UberAlles View Post
Are the 34 large caissons complete?
Best guess is yes - all the rock caissons are completed
1) all rock grinding equipment is gone
2) At best count all 14 outers have been sunk and buried.

Garage caissons are also probably done as there are no more sleeves or rebar cages left, and the Iron Workers (cage makers) and stuff left last week.

There remain 3 long and 1 short "secant beams", and the secanting rig remains on site. It could be they had extras and the mobile drill is not needed elsewhere, or there could be 3 left to go, I don't think more than that.

Otherwise yes the secant and slurry walls appear to be completed.
__________________
Harry C --- Chicago rep for SkyRise Cities ---- My Flickr stream HRC_OakPark
The man who trades freedom for security does not deserve nor will he ever receive either. B Franklin.
Reply With Quote
     
     
  #53  
Old Posted Jul 1, 2008, 12:21 PM
theWatusi's Avatar
theWatusi theWatusi is offline
Resident Jackass
 
Join Date: Dec 2006
Location: Your Mom's House
Posts: 11,717
Quote:
Originally Posted by Apex View Post
[obnoxious re-posting of renderings]

Dont do that.
__________________
"...remember first on me than these balls in airports" - MK
Reply With Quote
     
     
  #54  
Old Posted Jul 1, 2008, 1:08 PM
aaron38's Avatar
aaron38 aaron38 is offline
312
 
Join Date: Mar 2006
Location: Palatine
Posts: 3,133
Quote:
Originally Posted by Apex View Post
Edit: Also, I'm pretty certain that cool-lookin' bridge was nixed a couple versions ago.
The bridge hasn't been nixed, it just isn't funded yet. It'll be built if someone coughs up the cash, so it remains part of the long term vision of the site.
__________________
All we ever see of stars are their old photographs
Reply With Quote
     
     
  #55  
Old Posted Jul 1, 2008, 1:30 PM
BVictor1's Avatar
BVictor1 BVictor1 is offline
Registered User
 
Join Date: Sep 2002
Location: Chicago
Posts: 8,655
My gift for the new version

Our next edition of 'Spire Watch' put out by Chicago Line Cruises.







__________________
titanic1
Reply With Quote
     
     
  #56  
Old Posted Jul 1, 2008, 1:49 PM
the urban politician the urban politician is online now
The City
 
Join Date: Jul 2004
Location: Libertyville, IL
Posts: 12,661
Does anybody have any thoughts about this new incentive for investors that Shelbourn just announced?

Are we to look at this as a sign that sales have taken a downturn, or is this just an effort by Kelleher to keep an already good sales momentum going? Thoughts?
Reply With Quote
     
     
  #57  
Old Posted Jul 1, 2008, 2:26 PM
chrslyp chrslyp is offline
Registered User
 
Join Date: Apr 2008
Posts: 76
^^^ the article made it sound as if this practice was used quite often overseas, and since the majority of shelbourne's marketing efforts are focused outside the u.s., it seems to me as if this is just par for the course.

someone earlier mentioned that this incentive program isn't just a spur of the moment thing, it has been planned for some time now. so if i had to take a guess, i would say shelbourne is just trying to build on success, because let's face it, american real estate is one hell of an investment for anyone international who has any money.
Reply With Quote
     
     
  #58  
Old Posted Jul 1, 2008, 3:17 PM
UberAlles's Avatar
UberAlles UberAlles is offline
x-Chicago
 
Join Date: Sep 2005
Location: Phoenix, AZ
Posts: 676
Quote:
Originally Posted by harryc View Post
Best guess is yes - all the rock caissons are completed
1) all rock grinding equipment is gone
2) At best count all 14 outers have been sunk and buried.

Garage caissons are also probably done as there are no more sleeves or rebar cages left, and the Iron Workers (cage makers) and stuff left last week.

There remain 3 long and 1 short "secant beams", and the secanting rig remains on site. It could be they had extras and the mobile drill is not needed elsewhere, or there could be 3 left to go, I don't think more than that.

Otherwise yes the secant and slurry walls appear to be completed.
Excellent!!!! Thanks Harry for coming through with the 411!
Reply With Quote
     
     
  #59  
Old Posted Jul 1, 2008, 4:41 PM
PIZ's Avatar
PIZ PIZ is offline
Registered User
 
Join Date: Dec 2006
Location: Chicago
Posts: 863
Quote:
Originally Posted by chrslyp View Post
rental units at the spire? perhaps some of us can live there...

http://www.chicagobusiness.com/cgi-bin/news.pl?id=30002


Not a good sign in the slightest IMO...

This just shows Shelbourne's expectations of sales were cut short, they obviously expected a more progressive sales launch. YES indeed, this does sound to be desperation on Kelleher's part (he did say he expects a sell-out).

The only other thing I could think of, is that Kelleher is trying to rush to that 50% sales mark to get another bank (Other then Anglo Irish) to back him for the financing needed to finish the project. It's quite possible he could be just rushing this process as progress on the site is moving along rather quickly, and the last thing he wants is the continuation of out-of-pocket financing.

One thing we can all agree on, Kelleher in not your average thinking developer, he thinks so out-side the box his brain boarders along the lines of weird, risky, psycho, and genius! Lets just hope the last one prevails in the end...
Reply With Quote
     
     
  #60  
Old Posted Jul 1, 2008, 5:11 PM
BVictor1's Avatar
BVictor1 BVictor1 is offline
Registered User
 
Join Date: Sep 2002
Location: Chicago
Posts: 8,655
Quote:
Originally Posted by PIZ View Post
Not a good sign in the slightest IMO...

This just shows Shelbourne's expectations of sales were cut short, they obviously expected a more progressive sales launch. YES indeed, this does sound to be desperation on Kelleher's part (he did say he expects a sell-out).

The only other thing I could think of, is that Kelleher is trying to rush to that 50% sales mark to get another bank (Other then Anglo Irish) to back him for the financing needed to finish the project. It's quite possible he could be just rushing this process as progress on the site is moving along rather quickly, and the last thing he wants is the continuation of out-of-pocket financing.

One thing we can all agree on, Kelleher in not your average thinking developer, he thinks so out-side the box his brain boarders along the lines of weird, risky, psycho, and genius! Lets just hope the last one prevails in the end...
Oh hush!

Quite always being Mr. Negative

Someone's already that this is a common European practice.
__________________
titanic1
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Never Built & Visionary Projects
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 3:47 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.