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  #1  
Old Posted Sep 14, 2010, 8:01 PM
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Steely Dan Steely Dan is offline
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Cool CHICAGO | OneEleven - 111 West Wacker | 630 FT | 59 FLOORS | T/O

this is a thread to post any news and opinions regarding the 30 story, partially built concrete hulk on the site of the former (and now dead) Waterview Tower proposal.

the current proposal:








the site as it exists today:


source: me

Last edited by Steely Dan; Jun 4, 2012 at 2:38 PM.
     
     
  #2  
Old Posted Sep 14, 2010, 8:05 PM
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from the old thread:


Quote:
Originally Posted by JC-Chicago View Post
The original thread was closed, but I wanted to share new information.

Teng & Associates has been sold to Trow Global.

How this relates to Waterview is not yet seen.

http://www.generalatlantic.com/en/news/article/1334

http://www.trow.com/tnw/Default.aspx?langID=EN

*mods, feel free to merge this with the closed thread if you wish. Just thought people might be interested.
     
     
  #3  
Old Posted Sep 14, 2010, 8:26 PM
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Next batman movie...blow it up.
     
     
  #4  
Old Posted Sep 14, 2010, 8:38 PM
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taller than the tallest building in a lot of towns...

I wonder if anyone has ever independently played around with what could be put there without doing any demo
     
     
  #5  
Old Posted Sep 14, 2010, 8:41 PM
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Quote:
Originally Posted by Dr. Taco View Post
taller than the tallest building in a lot of towns...

I wonder if anyone has ever independently played around with what could be put there without doing any demo
I know for a fact they have. One of my clients now owns an interest in the building.
     
     
  #6  
Old Posted Sep 14, 2010, 8:51 PM
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-Onn likes this!

I would like to see the original plan go through, it's the only option for this site. Someone, somewhere, has to come up with the money. I would be traveling to the Middle East, they seem willing to invest in these kinds of projects.

Last edited by Onn; Sep 14, 2010 at 10:58 PM.
     
     
  #7  
Old Posted Sep 14, 2010, 8:52 PM
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Its hard to believe that they are more than 1/3 done height wise and they still cant seem to get anything moving along. Chicago is the city though where we just keeping putting off finishing things...this could sit like this for YEARS!
     
     
  #8  
Old Posted Sep 14, 2010, 10:23 PM
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It has the foundation to build higher, which should be taken advantage of.
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  #9  
Old Posted Sep 15, 2010, 12:44 AM
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It still bugs me that this building was 75% sold and couldn't get financing. Hopefully if the original proposal is not completed, something more progressive is.
     
     
  #10  
Old Posted Sep 16, 2010, 2:17 PM
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it does seem like at the very least someone could add floors to the point it's financially feasible and then just make an apartment building out of it
     
     
  #11  
Old Posted Sep 16, 2010, 3:16 PM
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In the old thread, wasn't it mentioned that the glass facade panels were already manufactured and sitting in a warehouse? Just finish it as it was supposed to be and get it over with.

Oh, and build the Waldorf Astoria. (hah)
     
     
  #12  
Old Posted Sep 16, 2010, 4:49 PM
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Quote:
Originally Posted by Alliance View Post
It still bugs me that this building was 75% sold and couldn't get financing. Hopefully if the original proposal is not completed, something more progressive is.
How many of them would have closed, given the economy, is another matter entirely.
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  #13  
Old Posted Sep 17, 2010, 3:25 PM
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Quote:
Originally Posted by meh_cd View Post
In the old thread, wasn't it mentioned that the glass facade panels were already manufactured and sitting in a warehouse? Just finish it as it was supposed to be and get it over with.

Oh, and build the Waldorf Astoria. (hah)
That's interesting. I'd be fine with them cladding it in glass with parking and hotel in the existing floors. Of course I would prefer the tower to be completed as originally planned, but I'd be content with a 30 story building as well.

Ironically, the current structure massing fits nicely with the tower next door. And positions of columns and openings are similar to 55 Wacker. They picked a good floor to stop construction at.
     
     
  #14  
Old Posted Sep 18, 2010, 2:25 AM
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^I've always thought that. And it completes the tall tower - short tower - tall tower - short tower pattern along the river.
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  #15  
Old Posted Sep 18, 2010, 5:04 AM
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Oh man, I totally forgot about this guy!

I would love to see it rise as planned. If anything, at least throw another 10-20 floors on it. New space in downtown Chicago does not grow on trees - make the most of it.
     
     
  #16  
Old Posted Sep 18, 2010, 7:53 AM
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I remember the below-grade phase took excruciatingly long on Waterview - to integrate the multiple uses into the tight site plan, and to support a slender tower of 90 stories. (This was going to be the tallest ever non-full-block (or sub-half-block if you want to get technical about JHC) building in Chicago, or the world, or something like that.)

It'd be such a shame to let that infrastructure go underused, including that it's one of the few remaining sites benefiting from a bi-level roadway.

Last edited by denizen467; Sep 18, 2010 at 8:06 AM.
     
     
  #17  
Old Posted Sep 18, 2010, 8:02 AM
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in a macro level economic comment..... it would take an economy with a pulse to finance anything....

Lets use the skyway and parking meter reserve to finannce one or two big projects ..and then reinvest. oh no.... we used it for operating deficits....Daley gave up 2 years ago.
     
     
  #18  
Old Posted Sep 18, 2010, 2:59 PM
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Quote:
Originally Posted by denizen467 View Post
I remember the below-grade phase took excruciatingly long on Waterview - to integrate the multiple uses into the tight site plan, and to support a slender tower of 90 stories. (This was going to be the tallest ever non-full-block (or sub-half-block if you want to get technical about JHC) building in Chicago, or the world, or something like that.)

It'd be such a shame to let that infrastructure go underused, including that it's one of the few remaining sites benefiting from a bi-level roadway.
I think the time it took had more to do with the developer not having loans in place even at that early date. Half the time you would not see anything happen for a day or two when they were doing the foundation. That said I think you are right about this site now needing a supertall since they already spent the money on the core. Not sure what happened to the cladding. I understood it was only enough for the first 10-15 floors. It was sitting in a warehouse near O'hare.
     
     
  #19  
Old Posted Sep 18, 2010, 3:59 PM
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Quote:
Originally Posted by F1 Tommy View Post
I think the time it took had more to do with the developer not having loans in place even at that early date.
Not only that. . . they bought the land back in like 1999. . . the fact that they got /only/ this far in 10 years given the booming state of the economy during that period is really telling, Teng's deficiency as a real estate development company has been made abundantly clear. . . I've always said they should have outsourced that and stuck to being the engineering firm they're known for. . . the fact that we're even talking about this in 2010 is a terrible shame. . .

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  #20  
Old Posted Sep 19, 2010, 4:39 AM
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I'm not entirely sure that inability to get loan documents in order explains construction stuttering two days on and two days off etc. -- it would more explain a situation of prolonged periods of delay and interruption. Teng's inexperience managing complex developments and all the trades involved would definitely explain the slow going though. But anyway Teng clearly attempted something only a limited number of developers would have been able to pull off in the first place, especially with the condo-hotel concept.

Now the (web) site looks as bad as the (construction) site -- it's "under construction" and very out of date (waterviewtower.com). Sigh.

So is the Teng name (whether as a standalone or as an operating unit) going to continue to exist ?
     
     
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