HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > General Development


    Old Post Office Redevelopment Tower [1] in the SkyscraperPage Database

Building Data Page   • Comparison Diagram   • Chicago Skyscraper Diagram

Map Location
Chicago Projects & Construction Forum

Reply

 
Thread Tools Display Modes
     
     
  #1181  
Old Posted Dec 13, 2018, 5:29 PM
OhioGuy OhioGuy is offline
Registered User
 
Join Date: Jul 2004
Location: DC
Posts: 7,648
So we attract another suburban company. Good news certainly... now if we can attract more from outside Illinois. Apple just announced big employment plans in several cities, most notably Austin, but Chicago isn’t on the list. With OPO’s big wide open floor plans, seemingly suitable for modern tech industry, hopefully we’re able to gain some noteworthy additions soon (of course Salesforce is good but heading elsewhere along the river).
Reply With Quote
     
     
  #1182  
Old Posted Dec 13, 2018, 6:23 PM
LouisVanDerWright LouisVanDerWright is offline
Registered User
 
Join Date: Jul 2012
Posts: 7,440
Oh shit, what drama, White Oak partners announced Ferrara would be moving to 625 w Adams as the first tenant earlier this year:

https://therealdeal-com.cdn.ampproje...-west-adams%2F

Looks like 625 will be staying empty a while longer. Apparently the 20 floor Fifield econobox model no longer works in a world full of Fulton Cold Storages and OPOs...
Reply With Quote
     
     
  #1183  
Old Posted Dec 13, 2018, 6:47 PM
k1052 k1052 is offline
Registered User
 
Join Date: Oct 2007
Posts: 2,235
Quote:
Originally Posted by LouisVanDerWright View Post
Looks like 625 will be staying empty a while longer. Apparently the 20 floor Fifield econobox model no longer works in a world full of Fulton Cold Storages and OPOs...
Plus all the office space put on the market by big tenant moves like Hyatt, DLA, etc into new towers. More of that coming too.

Maybe just convert 625 to apartments or something...
Reply With Quote
     
     
  #1184  
Old Posted Dec 13, 2018, 8:33 PM
Suiram Suiram is offline
Registered User
 
Join Date: Aug 2017
Posts: 49
Quote:
Originally Posted by LouisVanDerWright View Post
Oh shit, what drama, White Oak partners announced Ferrara would be moving to 625 w Adams as the first tenant earlier this year:

https://therealdeal-com.cdn.ampproje...-west-adams%2F

Looks like 625 will be staying empty a while longer. Apparently the 20 floor Fifield econobox model no longer works in a world full of Fulton Cold Storages and OPOs...
This will be a legit problem for non-riverfront office buildings and just generally the office market. Typical prime tenants are consolidating space per staff while the companies that can are moving towards either "creative" loft offices or flagship prime buildings (BOA, Salesforce, BMO, etc).

Mediocre traditional offices will struggle to rent while older half empty buildings will need to seriously think about how to re position.

I think some of these will just need to lower the rents. Buildings like 625 may go bankrupt and get restructured by a buyer taking lower rents, stealing the second half of the tenant base from a half vacant building on Lasalle that cant replace their big bank/law firm tenant. 625 is still a better option and if its cheap, companies will take it.
Reply With Quote
     
     
  #1185  
Old Posted Dec 13, 2018, 8:38 PM
simon07 simon07 is offline
Registered User
 
Join Date: Jan 2012
Posts: 92
Quote:
Originally Posted by LouisVanDerWright View Post
Oh shit, what drama, White Oak partners announced Ferrara would be moving to 625 w Adams as the first tenant earlier this year:

https://therealdeal-com.cdn.ampproje...-west-adams%2F

Looks like 625 will be staying empty a while longer. Apparently the 20 floor Fifield econobox model no longer works in a world full of Fulton Cold Storages and OPOs...
625 W. Adams has been almost completely leased by CDW.
Reply With Quote
     
     
  #1186  
Old Posted Dec 13, 2018, 9:06 PM
k1052 k1052 is offline
Registered User
 
Join Date: Oct 2007
Posts: 2,235
Quote:
Originally Posted by simon07 View Post
625 W. Adams has been almost completely leased by CDW.
Somehow I totally forgot about CDW. I'll blame it on the lack of sunlight.
Reply With Quote
     
     
  #1187  
Old Posted Dec 14, 2018, 3:56 AM
killaviews's Avatar
killaviews killaviews is offline
Registered User
 
Join Date: Jul 2006
Location: Chicago
Posts: 492
There is a video on the site I haven’t seen yet. Maybe not a lot of new info, but that rooftop is EVERYTHING.

http://www.post433.com
Reply With Quote
     
     
  #1188  
Old Posted Dec 14, 2018, 12:24 PM
The Pimp's Avatar
The Pimp The Pimp is offline
Registered User
 
Join Date: Jul 2007
Location: Chicago/Hamilton Lake
Posts: 419
Ferrara Candies moving in. 400+ Folks
Reply With Quote
     
     
  #1189  
Old Posted Dec 15, 2018, 10:17 PM
HomrQT's Avatar
HomrQT HomrQT is online now
All-American City Boy
 
Join Date: Dec 2009
Location: Hinsdale / Uptown, Chicago
Posts: 1,939
Quote:
Originally Posted by The Pimp View Post
Ferrara Candies moving in. 400+ Folks
Anyone know what's happening to the candy factory in Forest Park? Is it staying?
__________________
1. 9 DeKalb Ave - Brooklyn, NYC - SHoP Architects - Photo
2. American Radiator Building - New York City - Hood, Godley, and Fouilhoux - Photo
3. One Chicago Square - Chicago - HPA and Goettsch Partners - Photo
4. Chicago Board of Trade - Chicago - Holabird & Root - Photo
5. Cathedral of Learning - Pittsburgh - Charles Klauder - Photo
Reply With Quote
     
     
  #1190  
Old Posted Dec 15, 2018, 11:22 PM
Busy Bee's Avatar
Busy Bee Busy Bee is offline
Show me the blueprints
 
Join Date: Feb 2006
Location: on the artistic spectrum
Posts: 10,260
I could be wring but I think production is staying in Forest Park (instead of moving to some random industrial park in the far burbs)
__________________
Everything new is old again

There is no goodness in him, and his power to convince people otherwise is beyond understanding
Reply With Quote
     
     
  #1191  
Old Posted Dec 16, 2018, 2:25 PM
Bombardier Bombardier is offline
Registered User
 
Join Date: Aug 2016
Location: Chicago, IL
Posts: 467
Quote:
Originally Posted by LouisVanDerWright View Post
Oh shit, what drama, White Oak partners announced Ferrara would be moving to 625 w Adams as the first tenant earlier this year:

https://therealdeal-com.cdn.ampproje...-west-adams%2F

Looks like 625 will be staying empty a while longer. Apparently the 20 floor Fifield econobox model no longer works in a world full of Fulton Cold Storages and OPOs...
Quote:
Originally Posted by simon07 View Post
625 W. Adams has been almost completely leased by CDW.
It's premature to say that model is dead. 333 N Green and shortly thereafter 330 N Green are both set up for success by Sterling Bay even while competing with the larger format offices like 110 Wacker, Union Station, and WPS. I would say the leasing of 625 could have been executed better.
Reply With Quote
     
     
  #1192  
Old Posted Dec 16, 2018, 4:08 PM
Leveled Leveled is offline
BANNED
 
Join Date: Dec 2018
Posts: 264
Quote:
Originally Posted by Suiram View Post
This will be a legit problem for non-riverfront office buildings and just generally the office market. Typical prime tenants are consolidating space per staff while the companies that can are moving towards either "creative" loft offices or flagship prime buildings (BOA, Salesforce, BMO, etc).

Mediocre traditional offices will struggle to rent while older half empty buildings will need to seriously think about how to re position.

I think some of these will just need to lower the rents. Buildings like 625 may go bankrupt and get restructured by a buyer taking lower rents, stealing the second half of the tenant base from a half vacant building on Lasalle that cant replace their big bank/law firm tenant. 625 is still a better option and if its cheap, companies will take it.
They can go condo.
Reply With Quote
     
     
  #1193  
Old Posted Jan 9, 2019, 6:33 PM
SteelMonkey SteelMonkey is offline
Registered User
 
Join Date: Feb 2016
Location: Chicago
Posts: 344
Reply With Quote
     
     
  #1194  
Old Posted Jan 9, 2019, 7:02 PM
jpIllInoIs's Avatar
jpIllInoIs jpIllInoIs is offline
Registered User
 
Join Date: Dec 2005
Posts: 1,210
Quote:
Originally Posted by SteelMonkey View Post
shrug: no gain..
Reply With Quote
     
     
  #1195  
Old Posted Jan 9, 2019, 7:44 PM
ithakas's Avatar
ithakas ithakas is offline
Registered User
 
Join Date: May 2014
Posts: 971
Quote:
Originally Posted by jpIllInoIs View Post
shrug: no gain..
It's 1/4 of the space Walgreens has in the building, so not too small of a gain.

This puts the Old Post Office at roughly 325,000 square feet rented out of 2.5 million total.
Reply With Quote
     
     
  #1196  
Old Posted Jan 9, 2019, 9:00 PM
The Lurker The Lurker is offline
Registered User
 
Join Date: Jan 2013
Location: Great Lakes
Posts: 708
A patchwork of smaller tenants doesn't sound like a bad thing. It may take time but I don't see this trend of corporate relocations to the CBD reversing any time soon. And it sure beats having the thing sit in disrepair for another decade.
__________________
Lets go Brandon
Reply With Quote
     
     
  #1197  
Old Posted Jan 10, 2019, 4:11 AM
RedCorsair87 RedCorsair87 is offline
Registered User
 
Join Date: Mar 2018
Posts: 519
Travel along I-88 into the burbs. There are plenty of office parks for the OPO to steal from in the future.
Reply With Quote
     
     
  #1198  
Old Posted Jan 10, 2019, 9:43 PM
SamInTheLoop SamInTheLoop is offline
you know where I'll be
 
Join Date: Sep 2006
Posts: 5,535
Quote:
Originally Posted by SteelMonkey View Post
To tell you the truth, I had no idea the CMAP would take up nearly that much space!
__________________
It's simple, really - try not to design or build trash.
Reply With Quote
     
     
  #1199  
Old Posted Feb 23, 2019, 2:41 PM
jpIllInoIs's Avatar
jpIllInoIs jpIllInoIs is offline
Registered User
 
Join Date: Dec 2005
Posts: 1,210
New tenant for OPO

Real Deal: Ad Agency signs for 87K sq ft.
A fourth tenant signed a lease to move into 601W Companies’ redeveloped Old Main Post Office, meaning about 15 percent of the 2.8-million-square-foot complex is now accounted for.

Chicago-based ad agency AbelsonTaylor signed the 15-year lease for about 89,000 square feet in the massive building, according to the Chicago Tribune. The firm will move at least 100 employees from its existing offices at 33 West Monroe Street.

The Tribune story says that space allows for 100 employee expansion with 50 coming on board in 2019.
Reply With Quote
     
     
  #1200  
Old Posted Feb 23, 2019, 3:52 PM
Ned.B Ned.B is offline
Registered User
 
Join Date: Nov 2013
Posts: 608
Quote:
Originally Posted by jpIllInoIs View Post
A fourth tenant signed a lease to move into 601W Companies’ redeveloped Old Main Post Office, meaning about 15 percent of the 2.8-million-square-foot complex is now accounted for.

Chicago-based ad agency AbelsonTaylor signed the 15-year lease for about 89,000 square feet in the massive building, according to the Chicago Tribune. The firm will move at least 100 employees from its existing offices at 33 West Monroe Street.

The Tribune storysays that space allows for 100 employee expansion with 50 coming on board in 2019.
If I read that right, that's an eventual 200 employees? That's an extremely generous 450 square feet per employee.
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 > Global Projects & Construction > General Development
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 9:17 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.