HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Completed Project Threads Archive


One Chicago Square in the SkyscraperPage Database

Building Data Page   • Comparison Diagram   • Chicago Skyscraper Diagram

Map Location
Chicago Projects & Construction Forum

 

 
Thread Tools Display Modes
     
     
  #621  
Old Posted May 16, 2018, 9:46 PM
Steely Dan's Avatar
Steely Dan Steely Dan is offline
devout Pizzatarian
 
Join Date: Jul 2001
Location: Lincoln Square, Chicago
Posts: 29,634
does anyone know how many condo units OCS has?

i'm trying to get a handle on the relative chances of the three supertalls and couldn't remember. my memory says it was a relatively low number.
__________________
"Missing middle" housing can be a great middle ground for many middle class families.
     
     
  #622  
Old Posted May 16, 2018, 10:18 PM
left of center's Avatar
left of center left of center is offline
1st Ward
 
Join Date: Sep 2006
Location: The Big Onion
Posts: 2,569
http://www.chicagotribune.com/news/c...025-story.html

795 rental
75 condo

Article is from October 2017, so those numbers might have changed a bit, but the general ratio is probably about the same. OCS will be building the condo units on spec, as they only represent under 9% of the total units.
__________________
"Eventually, I think Chicago will be the most beautiful great city left in the world." -Frank Lloyd Wright
     
     
  #623  
Old Posted May 17, 2018, 2:38 PM
rgolch's Avatar
rgolch rgolch is offline
Registered User
 
Join Date: Dec 2004
Posts: 887
Quote:
Originally Posted by Steely Dan View Post
does anyone know how many condo units OCS has?

i'm trying to get a handle on the relative chances of the three supertalls and couldn't remember. my memory says it was a relatively low number.
At this point, I’d say this and 400 LSD have the best chance, wouldn’t you say? I think we have a solid shot at both of projects coming to fruition; this particular site is just way to premium to pass up, and not have a signature project. And I completely trust Related’s ability to get 400 LSD off the ground. I don’t know much about the developer for the Tribune Addition. But it’s a much bigger project, and presumably more costly.
     
     
  #624  
Old Posted May 17, 2018, 3:19 PM
Steely Dan's Avatar
Steely Dan Steely Dan is offline
devout Pizzatarian
 
Join Date: Jul 2001
Location: Lincoln Square, Chicago
Posts: 29,634
Quote:
Originally Posted by left of center View Post
http://www.chicagotribune.com/news/c...025-story.html

795 rental
75 condo

Article is from October 2017, so those numbers might have changed a bit, but the general ratio is probably about the same. OCS will be building the condo units on spec, as they only represent under 9% of the total units.

cool. condos on spec. that should help.
__________________
"Missing middle" housing can be a great middle ground for many middle class families.
     
     
  #625  
Old Posted May 17, 2018, 3:20 PM
KWillChicago's Avatar
KWillChicago KWillChicago is offline
Registered User
 
Join Date: Mar 2015
Location: Chicago
Posts: 1,113
I dont see WPS having any trouble geting the green light after East is completed. I dont know how much that would have an impact on these tall guys.
     
     
  #626  
Old Posted May 17, 2018, 4:13 PM
maru2501's Avatar
maru2501 maru2501 is offline
Registered User
 
Join Date: Oct 2015
Location: chicago
Posts: 1,668
less of a glut up at OCS location near gold coast etc
     
     
  #627  
Old Posted May 17, 2018, 4:25 PM
the urban politician the urban politician is offline
The City
 
Join Date: Jul 2004
Location: Chicago region
Posts: 21,375
My wager on what will get built "this cycle":

Will make it:

OCS -- developer has landed some seriously dope luxury condo deals just a few blocks north of that, is flush with cash, and probably doesn't need condo presales.

400 N LSD -- Related pulled it off with OBP, must be getting good sales numbers, has a lot of financial backing. They will pull this off too. Although far from the main shopping/nightlife parts of town, it is a STELLAR location, perhaps the best, plus you're near Navy Pier and LSD. Great place for a pied a terre. They'll get it done

XXXXXXX -- these won't make it, imagine a loud "buzzer" sound:

Tribune Tower -- sorry guys, not enough room for 4. Great location, but I don't see this team pulling off the Batman Tower quite yet. Better luck next decade

WPS -- again, great tower but if it's going to be some sort of mix user, hybrid office thingy, I just don't think we have enough market absorption yet for this. And residential? Condos? Possibly chances would improve, but I don't know if this team has the track record for high end condos the way JDL and Related do.
__________________
Supercar Adventures is my YouTube channel:

https://www.youtube.com/channel/UC4W...lUKB1w8ED5bV2Q
     
     
  #628  
Old Posted May 17, 2018, 4:52 PM
left of center's Avatar
left of center left of center is offline
1st Ward
 
Join Date: Sep 2006
Location: The Big Onion
Posts: 2,569
Quote:
Originally Posted by the urban politician View Post
My wager on what will get built "this cycle":

Will make it:

OCS -- developer has landed some seriously dope luxury condo deals just a few blocks north of that, is flush with cash, and probably doesn't need condo presales.

400 N LSD -- Related pulled it off with OBP, must be getting good sales numbers, has a lot of financial backing. They will pull this off too. Although far from the main shopping/nightlife parts of town, it is a STELLAR location, perhaps the best, plus you're near Navy Pier and LSD. Great place for a pied a terre. They'll get it done

XXXXXXX -- these won't make it, imagine a loud "buzzer" sound:

Tribune Tower -- sorry guys, not enough room for 4. Great location, but I don't see this team pulling off the Batman Tower quite yet. Better luck next decade

WPS -- again, great tower but if it's going to be some sort of mix user, hybrid office thingy, I just don't think we have enough market absorption yet for this. And residential? Condos? Possibly chances would improve, but I don't know if this team has the track record for high end condos the way JDL and Related do.
WPS will be built... eventually. I don't see Hines not finishing up this up, they have deep pockets and are more than capable of waiting out a recession.

The Tribune proposal I am more worried about. The old TT condo conversions will probably have no problem, but I don't see the addition getting built this cycle, and I'm not sure the existing design will survive any upcoming recession. Its such a big project, Golub/CIM might consider unit/height reduction and a possible redesign if it doesn't get started in this market cycle. Hopefully I'm wrong.
__________________
"Eventually, I think Chicago will be the most beautiful great city left in the world." -Frank Lloyd Wright
     
     
  #629  
Old Posted May 17, 2018, 5:39 PM
rgolch's Avatar
rgolch rgolch is offline
Registered User
 
Join Date: Dec 2004
Posts: 887
Quote:
Originally Posted by the urban politician View Post
My wager on what will get built "this cycle":

Will make it:

OCS -- developer has landed some seriously dope luxury condo deals just a few blocks north of that, is flush with cash, and probably doesn't need condo presales.

400 N LSD -- Related pulled it off with OBP, must be getting good sales numbers, has a lot of financial backing. They will pull this off too. Although far from the main shopping/nightlife parts of town, it is a STELLAR location, perhaps the best, plus you're near Navy Pier and LSD. Great place for a pied a terre. They'll get it done

XXXXXXX -- these won't make it, imagine a loud "buzzer" sound:

Tribune Tower -- sorry guys, not enough room for 4. Great location, but I don't see this team pulling off the Batman Tower quite yet. Better luck next decade

WPS -- again, great tower but if it's going to be some sort of mix user, hybrid office thingy, I just don't think we have enough market absorption yet for this. And residential? Condos? Possibly chances would improve, but I don't know if this team has the track record for high end condos the way JDL and Related do.
Agree.

Put yourself in the shoes of a lender. Which projects would you choose to finance, and have the least risk of losing your investment. 400 LSD and OCS seem more financially viable (at least from an outsiders perspective). And in the case of Related; huge, successful national company that isn’t going to go belly up.
     
     
  #630  
Old Posted May 17, 2018, 5:47 PM
Steely Dan's Avatar
Steely Dan Steely Dan is offline
devout Pizzatarian
 
Join Date: Jul 2001
Location: Lincoln Square, Chicago
Posts: 29,634
^ All 4 of the big towers are being developed by big-time name brand players.

Tribune - CIM/Golub
400 LSD - Related
OCS - JDL
WPS - Hines

There are no fly-by-night Garret Kellehers or engineering companies pretending to be developers (Teng) this time around.
__________________
"Missing middle" housing can be a great middle ground for many middle class families.
     
     
  #631  
Old Posted May 17, 2018, 6:17 PM
LouisVanDerWright LouisVanDerWright is offline
Registered User
 
Join Date: Jul 2012
Posts: 7,443
Quote:
Originally Posted by Steely Dan View Post
^ All 4 of the big towers are being developed by big-time name brand players.

Tribune - CIM/Golub
400 LSD - Related
OCS - JDL
WPS - Hines

There are no fly-by-night Garret Kellehers or engineering companies pretending to be developers (Teng) this time around.
Yeah, if entitled, all of these will get built in some form eventually. None of those firms are going under any time soon. Also, WPS has Magaellan's involvement too doesn't it? I was gonna say "Hines and Magaellan don't quite have the track record to do ultra luxury condos??? Hooookay...."
     
     
  #632  
Old Posted May 17, 2018, 6:30 PM
the urban politician the urban politician is offline
The City
 
Join Date: Jul 2004
Location: Chicago region
Posts: 21,375
Notice that I wrote what will be built this cycle. I do think all of these projects (or something similar in scale) will be built eventually. That has less to do with my confidence in individual developers, and relates more to confidence in downtown Chicago in general which--duh--I wouldn't be here if I didn't have that
__________________
Supercar Adventures is my YouTube channel:

https://www.youtube.com/channel/UC4W...lUKB1w8ED5bV2Q
     
     
  #633  
Old Posted May 17, 2018, 6:35 PM
rgolch's Avatar
rgolch rgolch is offline
Registered User
 
Join Date: Dec 2004
Posts: 887
Quote:
Originally Posted by Steely Dan View Post
^ All 4 of the big towers are being developed by big-time name brand players.

Tribune - CIM/Golub
400 LSD - Related
OCS - JDL
WPS - Hines

There are no fly-by-night Garret Kellehers or engineering companies pretending to be developers (Teng) this time around.
I guess WPS hasn’t clicked for me because we still don’t have confirmation that it’s a supertall. Moreover, isn’t it mixed use, and not purely residential? I can’t remember.

But just generally speaking; is the threshold of breaking 1000 ft/300 M as important in construction costs as us skyscraper nerds seem to think? Is constructing an 1100 ft tower that much more than one that’s 890 ft? I kind of feel like a lot of us would feel like these projects odds would be better if they were less than that magic number. In actuality, I suspect that may not be the case.
     
     
  #634  
Old Posted Jun 5, 2018, 7:45 PM
Knightwing's Avatar
Knightwing Knightwing is offline
Cleared for takeoff
 
Join Date: Jun 2007
Location: Chicago
Posts: 820
Quote:
Originally Posted by Steely Dan View Post
^ All 4 of the big towers are being developed by big-time name brand players.

Tribune - CIM/Golub
400 LSD - Related
OCS - JDL
WPS - Hines

There are no fly-by-night Garret Kellehers or engineering companies pretending to be developers (Teng) this time around.
Are you saying this to suggest that they are more likely to be built?
__________________
In fact, I am the College of Friendship, the University of Brotherly Love, the School for the Better Making of Men.......
     
     
  #635  
Old Posted Jun 5, 2018, 7:52 PM
Steely Dan's Avatar
Steely Dan Steely Dan is offline
devout Pizzatarian
 
Join Date: Jul 2001
Location: Lincoln Square, Chicago
Posts: 29,634
Quote:
Originally Posted by Knightwing View Post
Are you saying this to suggest that they are more likely to be built?
yes. generally speaking, i would say that large skyscraper projects backed by national development corporations with billions in assets and decades of institutional experience in getting big projects financed are "more likely to be built" than those backed by overly ambitious greenhorns.

that doesn't mean that any these projects will be built; that's for the market to decide.
__________________
"Missing middle" housing can be a great middle ground for many middle class families.
     
     
  #636  
Old Posted Jun 7, 2018, 1:47 AM
PittsburghPA PittsburghPA is offline
Registered User
 
Join Date: Jun 2012
Location: West Loop Gate, Chicago
Posts: 933
Any news on this? I know somebody that said their company bid on the project and he said it will definitely go. Have they secured financing yet?
     
     
  #637  
Old Posted Jun 7, 2018, 2:29 AM
Bombardier Bombardier is offline
Registered User
 
Join Date: Aug 2016
Location: Chicago, IL
Posts: 467
^Supposedly working on financing... GC should be awarded this month... 2 contractors trying to secure the work, LL and Power I believe.
     
     
  #638  
Old Posted Jun 7, 2018, 2:48 AM
PittsburghPA PittsburghPA is offline
Registered User
 
Join Date: Jun 2012
Location: West Loop Gate, Chicago
Posts: 933
Quote:
Originally Posted by Bombardier View Post
^Supposedly working on financing... GC should be awarded this month... 2 contractors trying to secure the work, LL and Power I believe.
Thanks! Do we have a realistic timeline? Also is it safe to say as long as there is no drastic change in the market this moves forward as planned?
     
     
  #639  
Old Posted Jun 7, 2018, 6:09 AM
left of center's Avatar
left of center left of center is offline
1st Ward
 
Join Date: Sep 2006
Location: The Big Onion
Posts: 2,569
Quote:
Originally Posted by PittsburghPA View Post
Thanks! Do we have a realistic timeline? Also is it safe to say as long as there is no drastic change in the market this moves forward as planned?
Nothing is ever a sure thing, but this project does have a lot going for it. Big time developer, support from the alderman, etc. Its more likely than not that it will be built, but the timing is less sure. Depends on if this economy has a few months or a few years left before it blows its stack.
__________________
"Eventually, I think Chicago will be the most beautiful great city left in the world." -Frank Lloyd Wright
     
     
  #640  
Old Posted Jun 7, 2018, 1:54 PM
Skyguy_7 Skyguy_7 is offline
BANNED
 
Join Date: Dec 2012
Location: Chicago
Posts: 2,657
Quote:
Originally Posted by Bombardier View Post
....2 contractors trying to secure the work, LL and Power I believe.
Only one supertall at a time for McHugh I guess . Hope it goes to LL.
     
     
This discussion thread continues

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

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Completed Project Threads Archive
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 11:37 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

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