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  #201  
Old Posted Jun 27, 2007, 5:28 AM
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^ Nor Kelleher-style visionaries, alas.

Your reasoning makes perfect sense to me, and I'd definitely approach it that way. But then again, Hines is a mega-corporation, and I'm just a chump. Maybe there's a reason for that.
     
     
  #202  
Old Posted Jun 27, 2007, 1:25 PM
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Let's face it, this is a convenient location for business travelers with meetings in the West Loop but that's about it.
The Apparel Center has a successful hotel that this would favorably compete with. There's enough business at the Mart complex to keep this one full with prime convention goers.
     
     
  #203  
Old Posted Jun 28, 2007, 12:33 AM
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On the other hand, could they charge more for rooms in a hotel spanning the 700 to 1,000 foot altitudes?

Let's face it, this is a convenient location for business travelers with meetings in the West Loop but that's about it. Add a view down the river from 800 feet up, looking toward Trump Tower and the Spire, with a glimpse of lake views in certain directions (actually, probably an excellent view of the north lakefront), and you've got a much more marketable hotel.

Then again, Hines aren't really hotel developers, are they?
Thats what I was thinking to. This is a singular location in Chicago. If we're not gonna try to put a supertall here...

I don't know...it might be worth fighting for. 20 stories of hotel would give us 1000, you'd have a great view of every branch of the river.
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  #204  
Old Posted Jun 28, 2007, 5:30 AM
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^ Letter writing campaign to Sam Assefa?
     
     
  #205  
Old Posted Jun 28, 2007, 5:33 AM
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maybe, but I doubt It will work
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  #206  
Old Posted Jun 28, 2007, 3:13 PM
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^ I'm sure Hines had considered incorporating the hotel and office in one tower, but rejected it. I think any chance for an increase in height would come from the amount of pre-leasing Hines can land. If they can manage 350,000-400,000 sf or greater, perhaps they would consider an increase in the number of office floors.

IMO there are much bigger fights worthy of letter writing campaigns right now, chief among them the noble and epic fight against the wrongheaded NIMBYs on Park Michigan....
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  #207  
Old Posted Jun 28, 2007, 6:32 PM
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for reference, here's a shot of the site from my balcony as it exists today. i can't imagine how much better this view will look with a new 700 beauty to block out the lowrise city beyond, although i will miss being able to see the united center, but whatever, this new building will be far superior.

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  #208  
Old Posted Jun 28, 2007, 7:42 PM
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^ Oh - man are you one lucky cat or what?! Didn't relize the view of it would be so awesome! You'd better be posting lots of pictures of this one as it rises!!
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  #209  
Old Posted Jun 28, 2007, 7:44 PM
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for reference, here's a shot of the site from my balcony as it exists today. i can't imagine how much better this view will look with a new 700 beauty to block out the lowrise city beyond
I'd be more excited about blocking the Loewenberg POS.
     
     
  #210  
Old Posted Jun 28, 2007, 8:50 PM
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I would not expect the tenants moving to these new super class A+ office towers to attract many businesses new to downtown. These are attracting the established very profitable professional and business services and financial services firms that are already downtown. However, this does not mean its just a game of musical chairs going on - rather, a portion of the older office tower space that these firms are vacating when they move to the new towers will be back-filled by new businesses, or businesses that are at least new to downtown. Again - despite the occassional whining you will hear from landlords of older downtown office towers (who are losing some of their largest, most credit-worthy tenants to the new buildings, and are often gaining smaller, less credit-worthy tenants who present more risk to their building's cash flow), a continuous stream of new state-of-the-art space is undeniably a very healthy trend for downtown, as space is freed up in older buildings (often at quite reasonable asking rental rates) to attract new and expanding businesses to constantly re-shape and strengthen the downtown economy...
It's nice when Class B tenants can afford Loop space and push occupancy at older buildings. The only part where it gets a little hairy is when buildings get older, their asking rates are pushed down even as the cost to operate them goes up. The path to obsolescence is always a possibility.
     
     
  #211  
Old Posted Jun 28, 2007, 9:22 PM
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I'd be more excited about blocking the Loewenberg POS.
make that 2 of 'em!!
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  #212  
Old Posted Jun 29, 2007, 6:59 AM
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Hmm.. Seems this building and its annex will sit between Lake and Fulton.

Is anyone else in favor of a large sculpture where Fulton meets the river, between 200 North Riverside and Riverbend? It would really add a draw to the rather sterile plaza they have planned, and it would draw visual interest over to the "slot" created by 200 Riverside/Riverbend.
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  #213  
Old Posted Jun 29, 2007, 12:46 PM
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Originally Posted by Norsider View Post
It's nice when Class B tenants can afford Loop space and push occupancy at older buildings. The only part where it gets a little hairy is when buildings get older, their asking rates are pushed down even as the cost to operate them goes up. The path to obsolescence is always a possibility.
Cheap,old office space is synonymous with small business incubator. Just comparing what my firm pays in rent to rents in the lasalle office area shows that they either identical or cheaper. The more big tenants that move to these class A beauties, the easier it makes for my firm to move downtown (which we are, yippee! no more reverse commute)

As far as the operating cost versus revenue, it is up to the building manager to know when a building needs to be redone. When it hits this point, they better have renovation plans in mind to upgrade their building.
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  #214  
Old Posted Jun 29, 2007, 3:11 PM
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awesome view of our city sewer system, look there's the shit it took two hours ago
huh?
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  #215  
Old Posted Jun 29, 2007, 3:21 PM
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^ obviously, its still the 1920's and the city is still dumping sewage into the river....
     
     
  #216  
Old Posted Jun 29, 2007, 5:31 PM
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Originally Posted by Eventually...Chicago View Post
Cheap,old office space is synonymous with small business incubator. Just comparing what my firm pays in rent to rents in the lasalle office area shows that they either identical or cheaper. The more big tenants that move to these class A beauties, the easier it makes for my firm to move downtown (which we are, yippee! no more reverse commute)

As far as the operating cost versus revenue, it is up to the building manager to know when a building needs to be redone. When it hits this point, they better have renovation plans in mind to upgrade their building.

This is exactly right - it is all about timing decisions and execution on the part of class b and c building owners as to their capital projects....
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  #217  
Old Posted Jun 30, 2007, 7:14 AM
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Originally Posted by ardecila View Post
Is anyone else in favor of a large sculpture where Fulton meets the river, between 200 North Riverside and Riverbend? It would really add a draw to the rather sterile plaza they have planned, and it would draw visual interest over to the "slot" created by 200 Riverside/Riverbend.
Now wasn't there some really large cow sculpture planned for that prominent riverside site? Or was it a unicorn?
     
     
  #218  
Old Posted Jun 30, 2007, 7:35 AM
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The Cow is soon to be constructed at a more eastern point on the river. This site was a unicorn.
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  #219  
Old Posted Jul 1, 2007, 12:30 AM
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Thanks for clearing that up - I just seem to always get the cow and unicorn all mixed up.
     
     
  #220  
Old Posted Jul 13, 2007, 6:09 PM
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Assuming the drawing I saw of this tower is correct, the curve of the building is very subtle (far more subtle then 333 W Wacker) and bows outward by only ~12 feet. Also, I have good news that the tower is symmetrical, so BOTH sides will be curved, and we won't be left with a Torre Mayor style tower.

Also, keep the site across the river from this in mind... as I have a feeling it may not be sitting empty by 2010.
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