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  #41  
Old Posted Feb 4, 2017, 8:10 PM
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Originally Posted by SamInTheLoop View Post
In yesterday's article in Crain's about the developers landing their loan from Bank of the Ozarks, Fifield's role was discussed - they actually have no equity in the development, and to me it sounds as if they are developing the project for a fee from the actual owners, who presumably may not have been able to pull this project off as developer themselves.....
Sounds pretty smart.

They'll probably sell the tower after completion and cash out.

http://www.chicagotribune.com/busine...202-story.html

Construction begins on tallest tower west of Kennedy Expressway

Corilyn Shropshire
Contact Reporter
Chicago Tribune

Quote:
Construction is underway on a luxury skyscraper that will be the tallest building in the city west of the Kennedy Expressway.

Co-developers Fifield Cos. and Skokie-based F&F Realty recently broke ground on a 44-story, 490-foot-tall tower that will bring 492 apartments and 375 parking spaces to the city's West Town neighborhood, near Greektown.

Mark Lecocq, a senior vice president at Fifield, said a name for the building, on Madison Street just east of Halsted Street, had not been decided. The completed building is expected to be valued at roughly $280 million, he said.

Rents for the apartments, which will range from studios to three-bedroom units, haven't been decided and will be based on the going market rates in 2019 when the building is expected to be completed. The building also will include 10,200 square feet of retail.
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  #42  
Old Posted Feb 4, 2017, 10:14 PM
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February 3, 2017







625 W Adams, in the background, on the right hand side
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  #43  
Old Posted Feb 4, 2017, 11:18 PM
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Bye-bye parking lot.
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  #44  
Old Posted Feb 5, 2017, 2:36 AM
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And another Greektown parking lot bites the dust. I remember Arkadia tower being built several years ago and wondering when this lot would finally meet the same fate.

Now if we can only get Walgreens to sell their full block property...
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  #45  
Old Posted Feb 5, 2017, 7:08 AM
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Solar...that presidential towers shot is amazing. Keep up the good work.
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  #46  
Old Posted Feb 5, 2017, 1:37 PM
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That view of the skyline is about to be gone forever
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  #47  
Old Posted Feb 5, 2017, 1:53 PM
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Live

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  #48  
Old Posted Feb 6, 2017, 4:02 PM
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Quote:
Originally Posted by BVictor1 View Post
Sounds pretty smart.

They'll probably sell the tower after completion and cash out.

http://www.chicagotribune.com/busine...202-story.html

Construction begins on tallest tower west of Kennedy Expressway

Corilyn Shropshire
Contact Reporter
Chicago Tribune

No idea what the actual owner will do once the project delivers.....I don't know that we have too much of a track record on F&F to suggest whether they are likely to be a long-term holder or a build and seller. If Fifield were the owner, or had a substantial ownership stake, than yes, I'd be inclined to think that if the market were right, they would look to sell. That's one major key in the end - market conditions upon delivery. A lot can change in 2-3 years. Even if it's a preferred build and sell player, when the market works against you, often if you can, you hold....
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  #49  
Old Posted Feb 6, 2017, 5:03 PM
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It's an OK location for a new development, but sort of in a food desert.
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  #50  
Old Posted Feb 6, 2017, 11:58 PM
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It's an OK location for a new development, but sort of in a food desert.
Don't worry, I heard they are building a McDonalds a few blocks away.
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  #51  
Old Posted Feb 9, 2017, 3:32 AM
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..........
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Last edited by danielschell; Feb 9, 2017 at 5:26 AM. Reason: you don't wanna know
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  #52  
Old Posted Feb 9, 2017, 3:38 AM
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Wrong thread Dan haha
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  #53  
Old Posted Feb 9, 2017, 5:25 AM
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Wrong thread Dan haha
I'm losin' it
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  #54  
Old Posted Feb 9, 2017, 7:33 PM
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I see it got added to the boom rundown thread list on page 1, but it is listed as 'under construction'
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  #55  
Old Posted Feb 9, 2017, 7:49 PM
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I see it got added to the boom rundown thread list on page 1, but it is listed as 'under construction'
that's a mistake, i'll change it right now.
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  #56  
Old Posted Feb 13, 2017, 2:25 PM
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  #57  
Old Posted Feb 13, 2017, 2:30 PM
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^ it looks like we'll be able to properly move thIs to U/C very soon.

as always, thanks for the pics.
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Last edited by Steely Dan; Feb 13, 2017 at 3:41 PM.
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  #58  
Old Posted Feb 13, 2017, 4:49 PM
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hell yeah dan, thanks for the update! I see dancing nanners coming soon.
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  #59  
Old Posted Feb 13, 2017, 5:16 PM
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Great update Schell. Hope you don't mind, but I sent the top pic to my buddy at Stevenson, so you might see it up on their next billboard.
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  #60  
Old Posted Feb 13, 2017, 5:29 PM
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Not for nothing, but Stevenson can't use the photo unless Dan grants permission. If they are going to use it on a billboard (or any other brand promotion media), they should pay for the rights.
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