Thanks @harryc your post were very helpful, because those buildings from images looks like one...

one of the few supertalls I really like and no design-crap.

http://lh4.ggpht.com/_8TC_VUmf9Fw/Sddtnpem6xI/AAAAAAABJgo/vfhUI63c92E/s800/P1310737.JPG

I hope someone in Chicago keeps us posted on this. I, and many many others, would love to see work resume on this building.

On hold for nearly a year now, I gotta imagine almost all the buyers have asked for their down payments back and moved on. Not like Chicago doesn't already have thousands of other condos available on the market all ready to move in. This one has to be dead.

Harryc we all appreciate your pictures, but your wasting your time watching this one.

Moderators should lock this one and move it to archives, or cancelled, or purgatory...

I'm sure the people in the LaSalle Wacker building agree - but this is the city, and this happens. In Chicago the streets have been raised, buildings go up, and down. Windows and doors are not as permanent as I would have thought, the outlines of old doors and windows are evident in many of the older brick walls.

Across the river and down a street
http://lh5.ggpht.com/_8TC_VUmf9Fw/SNldQCdjpmI/AAAAAAAAy90/7uThv2qrvg4/s800/P1060774.JPG

I'm not really this boring... honest injun! Rofl
But i find this pic quite fascinating... the amount changes this one bit of wall has seen.
How old would this wall be 70 years? 100 years?
Makes me wonder what stories lie behind all the changes?

I'm not really boring... well... mebbe :)

nice design. would make a great adition for that location.

http://lh5.ggpht.com/_8TC_VUmf9Fw/SfTZK2ItiPI/AAAAAAABK4k/uAxMbp5A1jc/s800/P1340102.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/SfTZMqVkjJI/AAAAAAABK4w/QidPmYJ6z5A/s720/P1340726.JPG

Come on its ON HOLD for almost half a year and tons of useless posts!


:lock: :lock: :lock:


Reopening the thread if the works will start again.

I think its in the wrong section too. All other on hold are in proposed ST section. Or is that cus this one's already well on its way?

Maybe its not far from going on!

http://www.bestchicagocondos.com/blog/waterview-tower-sinking-under-weight-of-foreclosureWaterview Tower Sinking Under Weight Of Foreclosure
Let us hear your
comments!
June 3, 2009 - Any hope that might have still been floating for the stalled Waterview Tower is probably sinking even faster now that the Bank of America has filed a foreclosure suit for over $20 million. That may be a moot point though, because there are over 30 liens adding up to around $85 million against the failed Chicago real estate project. According to the latest article in Crain’s, the site and 26 story concrete base really has no value at this point with so much owed against it.

Lawyer Scott Fradin who represents one of the contractors with a lien told Crain’s that, “Nobody’s going to get anything out of it because it’s worthless.” He also said that in his opinion, “The property is worth less than it would be if it was vacant. At this point, the dollars are so big and the property has such little value that there’s little reason to fight.”

The bank’s foreclosure suit is coupled with the contractor suits, but the law states that contractors and construction companies who had signed contracts with developer Teng and Associates for work on the Waterview Tower will be paid before the bank can recoup any money. And with so many hands out and no buyers for the project it’s likely that many won’t get paid.

Teng forged ahead with the 90 story high-rise in 2006 before any financing was in place for the project on 111 West Wacker Drive. The $20 million from Bank of American was a bridge loan, but no other lender stepped forward to finance the tower. Teng had further setbacks when a possible $400 million loan from a China bank didn’t materialize and the Shangri-La Hotel chain opted out of their deal to run the hotel portion of the development.

We’ll have to wait and see what becomes of the 26 story shell after all of the legal wrangling is over. Unless another developer comes up with a plan and the money to build Chicago Condos there, it may turn into a very expensive parking garage.

What! "very expensive parking garage" they can't do that. this building is by far one of the greatest designed in Chicago. my city better do something about this!

the parking maybe would be temporary only. i'm sure it gets build...but not very soon. we'll have to wait at least 1-2 years i think, the current situation for this tower is not really good.

noooooooooo :badnews:

Will someone please buy this property and finish it!?!? :bash::bash::bash:

Will someone please buy this property and finish it!?!? :bash::bash::bash:

sure I'll be on it tomorrow :lol:

I'll donate a cup of concrete.

http://lh4.ggpht.com/_8TC_VUmf9Fw/Sip4Yau0VHI/AAAAAAABMus/xks2OqLgPMk/s800/P1390971_2_3.jpg

http://lh3.ggpht.com/_8TC_VUmf9Fw/SjKQedwPczI/AAAAAAABNKc/sbobP21W5io/s800/P1400857_6.jpg

http://www.suntimes.com/business/roeder/1625806,CST-FIN-roeder17.article

City wants high-rise crane removed
June 17, 2009
DAVID ROEDER

Impatient about the stillborn construction site on Wacker Drive, city officials are demanding the removal of the high-rise crane at the proposed Waterview Tower. No work has been done on the planned 90-story building since last year, and now it stands as a shell about 27 stories tall at the southwest corner of Wacker and Clark.

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=34442

Waterview Hotel project on the market
By Alby Gallun, June 17, 2009

CB Richard Ellis Inc. is taking on one of the toughest jobs in today’s languishing downtown real estate market: finding a buyer for the stalled Waterview Tower and Shangri-La Hotel project on Wacker Drive.

The Chicago office of the Los Angeles-based brokerage firm has been hired to sell the development, now just a 26-story concrete monument symbolizing the excesses of the real estate boom. The firm plans to scour the globe for potential investors, a necessary step amid a credit crisis that has made financing big, risky real estate projects virtually impossible.

well at least its on the market now....
thanks for the news Spyguy!

Damn why not clad this and use it as is for now finish it off until the 28 floors, then in the future when financing gets better, build it to height just like BCBS building.

Damn why not clad this and use it as is for now finish it off until the 28 floors, then in the future when financing gets better, build it to height just like BCBS building.

The work was stopped just shy (2flrs) of the transfer floor, the site is very small and the "skip" runs through the ramps for the parking garage, not insurmountable problems but significant ones. BCBS was designed, planned, and built to do in stages, this project was not.

http://lh5.ggpht.com/_8TC_VUmf9Fw/SjwY-NLscVI/AAAAAAABNnY/_CX-LpzaFXE/s800/P1410486.JPG

Thank you, HarryC, for those images!

Original Image by: Cbotnyse

http://img17.imageshack.us/img17/5628/26253148.jpg

I am wondering if Chicago is planning to bury freeway? It looks somewhat separated Chicago and lake.

^^ I think that would be too expensive to bury all of Lake Shore Drive but I am a big proponent of in the future at least burying for a number of short segments in order to create true land bridges from neighborhoods to the Lake. Even that is a costly proposition that may be hard to justify financially though.

Chicago is one impressive city, the new projects uc are pretty much all iconic and eyecatching!

http://newsblogs.chicagotribune.com/burns-on-business/2009/08/stalled-waterview-tower-on-the-move-its-broker-says.html

Stalled Waterview Tower on the move, its broker says
08/07/2009

By Greg Burns

...Halted after work began, standing like a broken tooth in the smile of Chicago's Wacker Drive cityscape, the forlorn Waterview Tower is attracting "a lot" of interest, Greene said in an interview. Groups of potential buyers are all over the 26 stories of bare concrete at 111 W. Wacker, he said, many taking his advice to dress in workout gear, since there's no vertical transportation.

Some hope to complete the 90-floor project, once intended to be a Shangri-La Hotel with luxury condos. Some want to cut it off at 40 floors and put in rental units. Student housing is a possibility, or offices at the top, Greene said. "It will depend on who's imagination is best and who can close."

^^ Cheers for the news dude. Not quite what I hoped for but better than nothing so far. Fingers crossed!

good news finally :), but please no 40 story tower :(...i want the full 319m!

A 40 floor version would look horrible

^ at least it's better than what's there now.

That's great news! I am wondering what 40 stories version would look like... I hope it won't look horrible. I prefer that they should finish what they already planned for this tower.

i'd say 90 or nothing. 40fl's would ruin the design...unless the don't count the 20 something that's already built. and just add 40 above

ehh...i didnt like the original render very much but atleast 40 stories wont be an eyesore like its current state

http://lh6.ggpht.com/_8TC_VUmf9Fw/SqVH6oEqPnI/AAAAAAABaTo/kqMPvCPCTgU/s800/P1490999.JPG

Fire drill (practice) at the site.
http://lh5.ggpht.com/_8TC_VUmf9Fw/SqVH8aeulLI/AAAAAAABaTw/07DAoCf05RA/s800/P1520394.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/SqVIA_G8mDI/AAAAAAABaUA/ful_x1Oh2zE/s800/P1520813.JPG

Sept 3rd
http://lh3.ggpht.com/_8TC_VUmf9Fw/SqVH-ivvegI/AAAAAAABaT4/y0sZViRflbM/s720/P1520624.JPG

I'm surprised the crane is still there, great shot's as always Harry

its still on hold???

yep. I'd rather it still be on hold than be canceled like Waldorf Astoria. This building is sweet.

http://lh4.ggpht.com/_8TC_VUmf9Fw/SuOxXJ0UncI/AAAAAAABb3E/uznNEd2I6XQ/s800/2009_09_28W.JPG
full size (http://picasaweb.google.com/harry.r.carmichael/111WWacker2009#5396351789850467778)

Nov 11 - less activity than at the Spire site.
http://lh4.ggpht.com/_8TC_VUmf9Fw/SwQONi3t8bI/AAAAAAABcv0/ij4QmZI-8uM/s720/P1610289.JPG

Nicer patterns than the old surface lot.
http://lh3.ggpht.com/_8TC_VUmf9Fw/SwQOO1iLl3I/AAAAAAABcv8/Rv1y_OM34TE/s800/P1610565.JPG

If everyone has not heard, apparently a Dubai based firm is putting its stake in the project, with a different design coming soon.

If everyone has not heard, apparently a Dubai based firm is putting its stake in the project, with a different design coming soon.
Uh oh.

Shorter, apparently. I think someone said 50 stories.

If everyone has not heard, apparently a Dubai based firm is putting its stake in the project, with a different design coming soon.

link?

link?

SSP...Once there is more information it will be posted.

That's a real shame for Chicago. First the Spire was killed now this tower will be a 50 story box. And not getting the Olympics was a big blow too. It would have made Chicago international.

:ohno: Spires is not killed yet. It is still alive project for now.

This thread should be moved from Proposed Supertalls to Proposed Highrises since it won't be very tall.

We'll wait for a press release to be sure.

"Finishing off a slab on top"
http://lh4.ggpht.com/_8TC_VUmf9Fw/SyvPk1Hp0JI/AAAAAAABd7c/t80WfQRaJko/s800/P1630703.JPG

Because the crane is being dismantled, the general consensus is that this project will never be built. Some other incarnation, perhaps, but not "Waterview" as we know it. Therefore, I'm changing the status to Canceled. It's time to move on.

A new thread can be started when/if a successor project is proposed for this site.

Well that's too bad:(

nice tower

?^^You do notice that there isn't any activity, so why would it be any good? Real genius.:lol: Well, guess that's it for this project.:goodbye:

lol

Is there enough infrastructure in place to where this building can be finished? I don't know if Chicago has ever experienced such a large project stalling partway through construction (not incl Spire of course).

I'm wondering how long it'd stay built like this until it's torn down if no one buys it. To leave such a large building sitting empty on the river would be horrible.

Is there enough infrastructure in place to where this building can be finished? I don't know if Chicago has ever experienced such a large project stalling partway through construction (not incl Spire of course).

I'm wondering how long it'd stay built like this until it's torn down if no one buys it. To leave such a large building sitting empty on the river would be horrible.

If it's auctioned off, it might sell for a pittance, like the Pontiac Dome, and the cost of redeveloping it to whatever height would make sense, even in this market. "Waterview" is gone forever though. :cry:

I'm wondering how long it'd stay built like this until it's torn down if no one buys it. To leave such a large building sitting empty on the river would be horrible.

I believe the current state of the building may have to stay like that until another investors could buy the site, then they could feel free to do whatever they want from then. Let's just hope no more fire will broke out, or anything else that would threaten civilians near the site ATM.

Yeah I still remember being back in architecture at UDM and seeing this awesome render of a beautiful emerald-green clad Chicago condo tower named "Waterview". But wow how times have changed. If you told me that of all the huge chances that large projects like these get shelved either due to rejected designs, an over-glut of original programming space, or lack of funds that it'd be the last choice here. Well, not insomuch as a lack of funds beforehand but necessarily at a time *when the building is already a good portion built*!. It honestly never occured to me all these years that hey, just because your beautiful building is rising above ground that it's always smooth sailing and the money's there because well in this case, it isn't.

Other than maybe some exceptions in Dubi where a lot of towers are in different phases of construction, has this happened with any building in the US before? I certainly can't recall any off the top of my head.

What chance do you guys think this has of going ahead in any vision? We may not have Waterview but to end it at 50 floors would definitely look well, stumpy.

How long will the city allow this unfinished hulk to remain in place before forcing the owners to tear it down? Could Daley conceiveably pull one of his midnight raids (like at Meigs) and have the city demolish it?

If this thing will never be completed as an 89 story hotel/condo building, there is no need for so much parking. It seems that much of it will need to be torn down anyway before the land could be put to a useful purpose. A 50 story office tower does not require 12 of those floors to be for parking.

How long will the city allow this unfinished hulk to remain in place before forcing the owners to tear it down? Could Daley conceiveably pull one of his midnight raids (like at Meigs) and have the city demolish it?

If this thing will never be completed as an 89 story hotel/condo building, there is no need for so much parking. It seems that much of it will need to be torn down anyway before the land could be put to a useful purpose. A 50 story office tower does not require 12 of those floors to be for parking.

There was a similar unfinished stump in downtown Austin that Intel abandoned and was left standing for many years. In a climate like Chicago, you wouldn't want this stuff as it is for more than 10 or 15 years.

Dec 15
http://lh4.ggpht.com/_8TC_VUmf9Fw/SzLSWv0TxJI/AAAAAAABd9o/9XfaXG0DhtE/s800/P1630436.JPG

http://lh4.ggpht.com/_8TC_VUmf9Fw/SzLSX0cSe8I/AAAAAAABd9w/eiEMdv_c52I/s800/P1630439.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/SzLSYaHfG7I/AAAAAAABd94/qRF9ECiPAcU/s800/P1630441.JPG

Dec 16
http://lh3.ggpht.com/_8TC_VUmf9Fw/SzLSZfJz9FI/AAAAAAABd-A/2y7WIRGMacA/s800/P1630538_9.jpg

Dec 22
http://lh4.ggpht.com/_8TC_VUmf9Fw/SzLSa63eROI/AAAAAAABd-I/2bsbaSsOj6U/s800/P1630831.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/SzLScH7qKoI/AAAAAAABd-Q/seNJQ767oGI/s800/2009_12_22X.JPG

What are they going to do with those exposed rebars? Aren't they cutting it off whilst dismantling the crane? Sorry if this question got explained somewhere.

EDIT: I know now, forget about that stupid question :bash:

Stupid recession forced the cancellation of this project. A recent South Park episode made me condemn the recession, so if financing is secured, the project will be un-canceled, construction will resume and the building be completed as planned, even at a lower funcional height (no lower than 275 metres, though). This is the Chicago version of the Ryugyong Hotel, only it is far from completely topping out. Now the United States will never have a Shangri-La Hotel all because the tower housing it is on indefinite hold.

Whatt???? How can this be cancelled? How an they leave this structure with many floors built!
Hope it is on hold just for a while.:ohno:

^^They're pouring probably the final concrete slab at the top then they'll remove the crane afterwards.

wow, never thought, that such a project with so many floors already built could be canceled and probably teared down...

Stupid recession forced the cancellation of this project. A recent South Park episode made me condemn the recession, so if financing is secured, the project will be un-canceled, construction will resume and the building be completed as planned, even at a lower funcional height (no lower than 275 metres, though). This is the Chicago version of the Ryugyong Hotel, only it is far from completely topping out. Now the United States will never have a Shangri-La Hotel all because the tower housing it is on indefinite hold.

Huh? We do have one in Los Angeles, California. I don't know if it is opened yet.

This is disappointing. There were a lot of exciting projects going on in Chicago the past few years. Most of them are topped out/ completed by now and I actually expected some new and fresh projects. But apparently the city is somehow out of money or doesn't have any inspiration. I actually think there is nothing going on except for the Spire that's on hold. Rest of the tall projects or projects that matter are topped out or completed..

It's time to move this one to the DN Archives.

Dec 22
http://lh6.ggpht.com/_8TC_VUmf9Fw/SzuqmP4aQ9I/AAAAAAABeP8/jtaIacfgWFg/s800/P1630832.JPG

Dec 29
http://lh3.ggpht.com/_8TC_VUmf9Fw/Szuqm2yEMWI/AAAAAAABeQM/nDfWCGkAYw8/s720/P1630908.JPG

Shoveled walk - there have been crew onsite every day for the last 2 weeks.
http://lh3.ggpht.com/_8TC_VUmf9Fw/Szuqn4fIfdI/AAAAAAABeQc/FESaRl94Wxs/s800/P1630918.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/Szuqn4fIfdI/AAAAAAABeQc/FESaRl94Wxs/s800/P1630918.JPG
If they don't finish the building, are they going to have the street occupied forever?, I would say that side of the street is not completely safe until they clad the facade.

While I don't think we're going to see any of this kind of risky speculation again for a long time, I do think the city ought to consider some sort of legal safegaurds against developers abandoning projects and leaving partially-completed eyesores to rot.

Construction permits should not be granted until the developer demonstrates the ability to complete the project as allowed for in the permit. This means the developer should not be allowed to break ground before financing to complete the entire project is in place. Developers also should have to pay into a fund, administered by the city, that could be used to restore abandoned construction sites. Sure, the city can fine the developer to properly secure the site to code. But they can not force them to tear it down for aesthetic reasons.

The concrete work already in place makes this property worth less than if it were clear. What's there can not be easily adapted to something useful in this new economic climate and it will probably have to be completely demolished. This makes the site very undesireable to buyers. It is possible that the neighbors to this site will be forced to deal with it for a decade. Or more. And just wait until the graffiti "artists" start tagging it...

Why can't they just put a roof on it, place some windows and rent it?
Wouldn't this work?

Preparing to disassemble the crane, the compressors, lift, and tools were all going up this morning.
http://lh5.ggpht.com/_8TC_VUmf9Fw/Szy7PJl4FoI/AAAAAAABeRY/i44eYCYS8Es/s800/P1640036.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/Szy7PowQJKI/AAAAAAABeRg/Pi4tw8GBVLs/s800/P1640037.JPG

Only good thing about this is... Less competition for the Spire.
Fingers crossed.

This is disappointing. There were a lot of exciting projects going on in Chicago the past few years. Most of them are topped out/ completed by now and I actually expected some new and fresh projects. But apparently the city is somehow out of money or doesn't have any inspiration. I actually think there is nothing going on except for the Spire that's on hold. Rest of the tall projects or projects that matter are topped out or completed..

What exactly does the city have to do with this project? The city was not building this tower in case you didn't know. The city has its own projects that it's working on. :ohno:

Shame that this tower has been cancelled, it looked nice.

Skip extended to top - mounting small crane to lower big crane.

http://lh3.ggpht.com/_8TC_VUmf9Fw/S0Rxuu1EEXI/AAAAAAABeZk/GnVUqTGMtBk/s720/P1640192.JPG

Skip up
http://lh6.ggpht.com/_8TC_VUmf9Fw/S0RxwFwxAmI/AAAAAAABeac/5HwRpppXRVg/s720/P1640202.JPG

Extra skip Parts.
http://lh6.ggpht.com/_8TC_VUmf9Fw/S0Rxx0l6HuI/AAAAAAABeZ0/u-aDkQbUIVw/s800/P1640234.JPG

Preparing the crane - to take down the crane.
http://lh4.ggpht.com/_8TC_VUmf9Fw/S0RxzGcH1mI/AAAAAAABeZ8/b9IzdvLWgA4/s800/P1640259.JPG

I think they can replace those billboards now.

from SSP
here's the abc story on waterview...

http://abclocal.go.com/wls/story?section=news/iteam&id=7205043

I think they can replace those billboards now.

Yea..

When I was in Chicago last year they still had the huge billboard of One Michigan Park. Is that ever going to happen? Anyone knows? :dunno:

^^ cancelled unfortunately

surely this is only temporary cancelled, once the market recovers the funding will be again secured and it will continue to rise skywards!

but that will be a while. They will probably just build a shorter version.

Jan 8
A weighty job
http://lh3.ggpht.com/_8TC_VUmf9Fw/S0tkBYjesXI/AAAAAAABei8/QY0e5eMDcao/s800/P1640380.JPG

Shoveling with what you got.
http://lh3.ggpht.com/_8TC_VUmf9Fw/S0tkByvQ2_I/AAAAAAABejE/iteunI8OYKY/s800/P1640385.JPG

One last look
http://lh3.ggpht.com/_8TC_VUmf9Fw/S0tkCIH7jvI/AAAAAAABejM/zOxZ_Nertgw/s800/P1640391.JPG

small rig
http://lh3.ggpht.com/_8TC_VUmf9Fw/S0tkCciiQ9I/AAAAAAABejU/6zfWCvTA6J0/s800/P1640394.JPG

http://lh4.ggpht.com/_8TC_VUmf9Fw/S0tkC6GNKBI/AAAAAAABejc/JlUac8xOAMU/s800/P1640396.JPG

Jan 11
Reserved parking spaces
http://lh5.ggpht.com/_8TC_VUmf9Fw/S0tkDC1ZF3I/AAAAAAABejk/eRy1A3ukyHo/s800/P1640466.JPG

Coming down
http://lh3.ggpht.com/_8TC_VUmf9Fw/S0tkEjqJfwI/AAAAAAABej0/mHgF6zA6vSo/s800/P1640479.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/S0tkFDDJLKI/AAAAAAABej8/eriaK5jPgAo/s800/P1640482.JPG

A story of two red cranes

Oct 4 2006 - Initially fixed, sizing the base in the bottom pad.
http://lh5.ggpht.com/_8TC_VUmf9Fw/RiGZB3MM5QI/AAAAAAAAA6k/9ikmxCq7dKs/s800/2006_10_04.jpg

Nov 14 2006 - Tower up.
http://lh4.ggpht.com/_8TC_VUmf9Fw/RiGZXnMM5iI/AAAAAAAAA80/DOoZR4-dFnc/s800/2006_11_14.jpg

July 31 2007
http://lh3.ggpht.com/_8TC_VUmf9Fw/RuYKc2-1omI/AAAAAAAAFnQ/vVzBmV11qNA/s800/P1000695.JPG

Sept 20 1007
http://lh4.ggpht.com/_8TC_VUmf9Fw/RwhSDT6-lOI/AAAAAAAAJ14/TxbOWyc1rWE/s800/P1030619.JPG

Feb 25 2008
http://lh5.ggpht.com/_8TC_VUmf9Fw/R8ORJCkREVI/AAAAAAAAbkI/q6wbBEUpOOk/s800/P1230951.JPG

The little crane was brought in to bring the big one down.
http://lh4.ggpht.com/_8TC_VUmf9Fw/S0tkC6GNKBI/AAAAAAABejc/JlUac8xOAMU/s800/P1640396.JPG

Piece by piece
http://lh4.ggpht.com/_8TC_VUmf9Fw/S0tkDZgPKDI/AAAAAAABejs/PLB8zHgdo3k/s800/P1640471.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/S0tkEjqJfwI/AAAAAAABej0/mHgF6zA6vSo/s800/P1640479.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/S0tkFDDJLKI/AAAAAAABej8/eriaK5jPgAo/s800/P1640482.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/S1ZDAQR9NKI/AAAAAAABfDM/qOUlWadVHtA/s720/P1640542.JPG

http://lh6.ggpht.com/_8TC_VUmf9Fw/S1ZDA8C0hvI/AAAAAAABfDU/wWhJfDEz-4M/s800/P1640487.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/S1ZDCMx6m7I/AAAAAAABfDc/tzw726lZXNk/s800/P1640490.JPG
http://lh5.ggpht.com/_8TC_VUmf9Fw/S1ZDD7v32PI/AAAAAAABfDk/MJ6fsf_5uSg/s800/P1640498.JPG
http://lh5.ggpht.com/_8TC_VUmf9Fw/S1ZDFAM2t6I/AAAAAAABfDw/zqFmtqQWs_Q/s800/P1640500.JPG
http://lh3.ggpht.com/_8TC_VUmf9Fw/S1ZDGPf0WrI/AAAAAAABfD4/vOb88IjKegM/s800/P1640502.JPG

http://lh4.ggpht.com/_8TC_VUmf9Fw/S1ZDHItxoZI/AAAAAAABfEA/EmJ60DCxgZI/s800/P1640506.JPG
http://lh6.ggpht.com/_8TC_VUmf9Fw/S1ZDIK_P-XI/AAAAAAABfEI/srn6mjC5EQ0/s800/P1640507.JPG

Motor - note visual aides applied to spool so motion is obvious.
http://lh3.ggpht.com/_8TC_VUmf9Fw/S1ZDJQKzMDI/AAAAAAABfEQ/74NKLx_Uhto/s800/P1640515.JPG

http://lh4.ggpht.com/_8TC_VUmf9Fw/S1ZDKQKkoFI/AAAAAAABfEY/DRRuqqlbGSk/s800/P1640516.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/S1ZDLrIcniI/AAAAAAABfEg/_k0xEFbBU2g/s800/P1640520.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/S1ZDMQiV7rI/AAAAAAABfEo/Dfom8wXnpZY/s800/P1640523.JPG

Tower sections
http://lh6.ggpht.com/_8TC_VUmf9Fw/S1ZDfVpajOI/AAAAAAABfE8/Vwp2qgESXlE/s800/P1640605.JPG
Power connection (Electric ?)
http://lh6.ggpht.com/_8TC_VUmf9Fw/S1ZDg4MYh6I/AAAAAAABfFM/uGB5ZTvRBAY/s800/P1640610.JPG



the pads for the climbing mechanism.
http://lh4.ggpht.com/_8TC_VUmf9Fw/S1ZD9sHj8GI/AAAAAAABfFk/6myAeSACBps/s800/P1640668.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/S1ZD-UizyoI/AAAAAAABfFs/cyDD3tysrsU/s720/P1640770.JPG

http://lh5.ggpht.com/_8TC_VUmf9Fw/S1ZEAmK0iuI/AAAAAAABfF8/wL2CbnXY1_I/s800/P1640789.JPG

Base of the climbing section
http://lh4.ggpht.com/_8TC_VUmf9Fw/S1ZD_nNP7-I/AAAAAAABfF0/y9j5uBr5OI4/s800/P1640787.JPG

The little crane stands alone
http://lh4.ggpht.com/_8TC_VUmf9Fw/S1ZDNJrRU5I/AAAAAAABfE0/RazJN9BIjHk/s800/P1640603.JPG

http://lh4.ggpht.com/_8TC_VUmf9Fw/S1ZDf0rO_kI/AAAAAAABfFE/ToIBYYCnmGQ/s800/P1640608.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/S1ZDiNbgBAI/AAAAAAABfFU/eypAuR8ygV8/s800/P1640640.JPG


Little crane in pieces. Jan 19 2010
http://lh4.ggpht.com/_8TC_VUmf9Fw/S1ZEmDBJ7aI/AAAAAAABfGo/9kAnk7EeHrM/s800/P1650052.JPG

http://lh6.ggpht.com/_8TC_VUmf9Fw/S1ZEnKR7XTI/AAAAAAABfGw/XxKsfmroYvc/s800/P1650054.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/S1ZEpg7GKmI/AAAAAAABfG4/ZkqL80iCGAY/s800/P1650071.JPG

surely this is only temporary cancelled, once the market recovers the funding will be again secured and it will continue to rise skywards!

Unfortunately that may not be the case. The way funding has been going lately, I don't see this getting on its feet for a long time, if ever.

Sad story, I think I'm going to move this to the archives because it's not a real project anymore..

So what's going to happen with the surroundings (billboards, any barriers, etc)? They'll have to clear them off for pedestrains and motorists anyways. :dunno:

I like this tower. It is unfortunate that it is canceled. Maybe if somebody with enough money buys the property they could resume construction or just leave it at that height. Given the economy, I reckon it would pretty hard to find person with money.

wow what a beautiful city.....:ohno:

What are they going to do with the part that's already built? Sad..

Union crews - leave a clean site.
http://lh5.ggpht.com/_8TC_VUmf9Fw/S146l-Q7Z_I/AAAAAAABfOo/VV2h_g97UTI/s800/P1650187.JPG

Better than a surface lot.
http://lh4.ggpht.com/_8TC_VUmf9Fw/S146mzGWStI/AAAAAAABfPU/C66tGrWMYbc/s800/2010_01_25.JPG

What they gonna do now?

wait it out i'm sure. but from what i've seen on Ctbuh, there's design competitions for the site.

http://lh3.ggpht.com/_8TC_VUmf9Fw/S65a4WmvnyI/AAAAAAABgXA/DWtPbk-Lu0I/s800/P1650626.JPG

http://lh4.ggpht.com/_8TC_VUmf9Fw/S65auqwzVhI/AAAAAAABgWM/H89alwmgYrU/s800/P1650628.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/S65avgVSbVI/AAAAAAABgWY/bYE754vlPbo/s800/2010_02_02W.JPG

http://lh6.ggpht.com/_8TC_VUmf9Fw/S65awwd0gGI/AAAAAAABgWg/Z-IwZRRExUc/s800/P1670075.JPG

At the CAF diarama
http://lh6.ggpht.com/_8TC_VUmf9Fw/S65ax8REFBI/AAAAAAABgXk/bfmM1U8IPaU/s800/P1670856.JPG

http://lh6.ggpht.com/_8TC_VUmf9Fw/S65azFuraPI/AAAAAAABgWw/gCRR0sTOROE/s800/P1680376.JPG

This would have been such a magnificent tower. :( :cry:

What's the parking situation like in Chicago? You would think they would have at least completed the garage part and gotten some income from the building in the meantime. Maybe some retail on the ground floor. I can think of at least two towers in Baltimore where they did the garage first and then completed the rest later. One of them was 10 years later.

From SSP:

I'm still hearing things about this group that is working towards a purchase of the Waterview husk. Excellent national architect and Arab lender still in place. The plan is to create a mixed-use hotel/office tower at something less than 60 floors. Structurally, the hotel amenities floor will be finished with a concrete topper, on top of that a steel belt-truss, then steel construction up to 50-something floors.

The exterior design sounds pretty cool. The belt-truss will be expressed and the glassy tower will bow and taper above that, filling the whole footprint with a single volume and not continuing the Teng concept of the two volume "highback chair" design.

^^ My fingers are crossed.

could a miracle happen? I don't think this construction will be abandoned for so long, not in such a valious site!!

This would have been such a magnificent tower. :( :cry:

I know how you feel man. :(

This tower can't be abandonned. Like I_Am_Hydrogen has said, there is a solution. Chicago can't leave it like that so it will be rebuilt for another project. Impossible to leave it like that !

A monument to human greed. Luckily it's hidden between others so it doesn't stick out too much :lol:

The solution is to tear down the Waterview hulk, pulverize the material, barge it up river to the Chicago Spire site and use it to fill that hole.

Daley should pull a "Meigs Field" caper and get this done. The Spire site, combined with the current DuSable Park land, will make a nice green space/future casino. The Waterview site could be home to a much-needed surface parking lot. The costs can be easily recovered by shortening yellow traffic light duration throughout the city to 1.5 seconds.

^^ I hope you're joking. And if that's the case...not funny.:ohno:

^^The site was a surface parking lot once, and will not become one again. Surface parking lots are not needed anymore on the Loop. They are a waste of space in any CBD. Otherwise, the lots can be prime development sites for new skyscrapers. Why don't we get the tower a new design, make it a 60 floor residential tower, and get this completed under that design?

The solution is to tear down the Waterview hulk, pulverize the material, barge it up river to the Chicago Spire site and use it to fill that hole.

Daley should pull a "Meigs Field" caper and get this done. The Spire site, combined with the current DuSable Park land, will make a nice green space/future casino. The Waterview site could be home to a much-needed surface parking lot. The costs can be easily recovered by shortening yellow traffic light duration throughout the city to 1.5 seconds.

The last thing in the world Chicago or any city wants in their CBD is a surface parking lot. Which contributes more to your tax base, a commercial, retail, or residential building, OR parking?

http://lh5.ggpht.com/_8TC_VUmf9Fw/S7aOllq8q7I/AAAAAAABg9s/UEa4ADmCwVg/s912/P1680485.JPG

The solution is to tear down the Waterview hulk, pulverize the material, barge it up river to the Chicago Spire site and use it to fill that hole.

Daley should pull a "Meigs Field" caper and get this done. The Spire site, combined with the current DuSable Park land, will make a nice green space/future casino. The Waterview site could be home to a much-needed surface parking lot. The costs can be easily recovered by shortening yellow traffic light duration throughout the city to 1.5 seconds.

LOL. Spoken like a true Chicagoan. :lol:

The solution is to tear down the Waterview hulk, pulverize the material, barge it up river to the Chicago Spire site and use it to fill that hole.

Daley should pull a "Meigs Field" caper and get this done. The Spire site, combined with the current DuSable Park land, will make a nice green space/future casino. The Waterview site could be home to a much-needed surface parking lot. The costs can be easily recovered by shortening yellow traffic light duration throughout the city to 1.5 seconds.

:lol: http://welpfolks.net/forum/images/smilies/clap.gif

Planned - executed: Waterview drawing and 300 N LaSalle actuality (background)
http://lh3.ggpht.com/_8TC_VUmf9Fw/S_LLo9pVT9I/AAAAAAABhvI/N_3dO2Jrbrw/s720/P1690113_1_2.jpg
April 15

Waiting for the curtain wall
http://lh6.ggpht.com/_8TC_VUmf9Fw/S_LLpUgWJLI/AAAAAAABhvQ/hinYyuljSm4/s800/IMG_0156.jpg
April 23

Extra walls for mothballing (don't think this would stop anybody).
http://lh4.ggpht.com/_8TC_VUmf9Fw/S_LLp04Cc-I/AAAAAAABhvY/UxAeEh0pKVo/s800/P1710163.JPG
April 28

Bright sunshiny day.
http://lh3.ggpht.com/_8TC_VUmf9Fw/S_LLqQU_SDI/AAAAAAABhvg/Xm6IxWf79-0/s720/P1720092.JPG
May 3

So it this tower going to be built?

So it this tower going to be built?

If I had a dime for every post like this ;)

I'm not sure where I heard it from but not that long ago I heard that construction was supposed to start back sometime in June or July.... I guess thats not happening anymore is it????:cry::cry::cry::cry:

The number of low, angled parking floors is problematic. That amount of parking was necessary for a condo/hotel project but total overkill for an office tower. It is likely going to be more feasible to demolish the hulk down to ground level and start again. Hopefully the foundation work can be adapted.

If I had a dime for every post like this ;)

you would be able to build this tower. :D

The number of low, angled parking floors is problematic. That amount of parking was necessary for a condo/hotel project but total overkill for an office tower. It is likely going to be more feasible to demolish the hulk down to ground level and start again. Hopefully the foundation work can be adapted.

I see a demo or partial demo too. But any buyer would be a fool not to keep a stump in case an opportunity to pull it up to at least 50 stories presents itself. Probably at least the top 3 or 4 levels will have to go.

you would be able to build this tower. :D
Forget the dime for each post. If you had a dollar for each post, you would be able to built this and the Spire! :okay: :lol: :lol:

Might as well lock this one up too. It's ovaaaah!

Agreed.:tongue2:

Oh, no you don't!

Might as well lock this one up too. It's ovaaaah!

Not so fast idiots. This is why you don't lock threads just because there is a lack of news.


Unfinished Waterview site has new owner, but few options

By: Alby Gallun May 31, 2010

The developer of the unfinished Waterview Tower on Wacker Drive has made peace with its creditors but now faces an even more difficult task: figuring out what to do with 26 stories of concrete in a devastated real estate market.

About two years after construction workers walked off the job site, the developer of the stalled 90-story skyscraper, which sits at one of the city's prime intersections, earlier this month handed the property over to a consortium of creditors with $110 million in unpaid bills. The new owners also include the original development team, a group led by executives at Chicago-based engineering firm Teng & Associates Inc.

The transfer clears one major obstacle for a daring riverside development that launched at the peak of the boom, ran out of money and now stands as the most glaring downtown symbol of the bust. By halting their court dispute, the creditors aim to attract a developer to restart the condominium-and-hotel project or reconfigure it for a post-bubble era.

"We believe it's a major step," says Michael Hughes, a leader of the creditors group and chairman of Broadview-based Huen Electric Inc., which is owed $8.6 million. "Our legal fees were mounting, and we weren't getting anywhere."

The question is whether they will get much further in the current real estate market. While the credit crunch has eased, financing for high-rise construction remains all but nonexistent, especially for condos and hotels.

Some observers have suggested that the 26-story concrete hulk is such a turnoff to prospective investors that the best answer is to raze it. That might please commuters who get caught in traffic backups where the temporary covered walkway outside the structure narrows Wacker Drive.

Mr. Hughes disagrees, saying that a teardown wouldn't add value to the property.

The developer launched the project in 2006 before lining up a construction loan, a decision that backfired.Another option is to finish what's there but wait until the market recovers before adding on. The current structure includes about 10 stories of parking and 13 hotel floors. It might make the most sense to run it as a parking garage for a few years, deferring decisions about the rest until the market recovers.

"At least it covers some of their expenses," says James Loewenberg, co-CEO of Chicago-based Magellan Development Group LLC. "In this market, you're not going to do anything else."

CB Richard Ellis Inc. was hired last summer to solicit buyers for the Waterview project, and Magellan "looked at it seriously," Mr. Loewenberg says, with the idea of finishing the hotel or replacing it with condos. Investing in the project now doesn't make sense given the condo and hotel markets, he says.

The project has received "overtures from a few developers," says Mr. Hughes, declining to identify them. He says the preferred option is to bring in a party that wants to stick with the original plan — 200 hotel rooms and 233 condos — but he's open to other ideas, including apartments or offices.

BAD TIMING

The city sued the Waterview development group for building code violations last year, alleging that it failed to maintain the concrete shell in a "structurally safe and stable condition." But a city spokeswoman says, "The city is satisfied that the building is secure and the (construction) crane is down."

A Teng affiliate launched the project at 111 W. Wacker Drive in 2006 before lining up a construction loan, a decision that backfired when the credit markets started to tighten just when the developer needed more money.

The developer did secure a $20-million bridge loan from LaSalle Bank N.A. in early 2007, but bills from contractors started piling up amid its futile search for $400 million in construction financing. Hong Kong-based Shangri-La Hotels & Resorts, which had agreed to run the hotel, pulled out in March 2009.

By mid-2009, several contractors and Bank of America Corp., which bought LaSalle in 2007, had filed foreclosure suits to collect their debts.

Teng executives did not return phone calls, and a Bank of America spokeswoman declines to comment.

http://www.chicagobusiness.com/cgi-bin/mag/article.pl?articleId=33447

http://lh6.ggpht.com/_8TC_VUmf9Fw/TDONHhJQkNI/AAAAAAABiOc/eTqXooV93S8/s800/P1750571.JPG
June 30

http://lh3.ggpht.com/_8TC_VUmf9Fw/TDONJOvzNMI/AAAAAAABiOo/YhTAPNP-P7U/s800/P1750631.JPG
June 30

^^ "New owners" and they didn't even bag and seal the rebar?? :ohno:

Stalled Waterview Tower Could Get New Life As Office Building
This can only be a good thing: A Chicago developer claims to be "very far along" in his plan to take over the stalled Waterview Tower development on Wacker Drive and convert it into a 60-story office tower.

Read more:
http://chicago.curbed.com/archives/2010/11/15/stalled-waterview-tower-could-get-new-life-as-office-building.php

* * *

Goodman envisions offices at unfinished Waterview tower on Wacker Drive
By: Alby Gallun November 15, 2010

A partly built condominium-hotel tower on Wacker Drive—now just a concrete eyesore among the city's glittering riverside skyscrapers—would get a second life as a 60-story office building, if developer Mark Goodman gets his way.

...Mr. Goodman says he's “very far along” in planning for the Waterview project, which would cost more than $300 million. But he doesn't have a binding agreement to acquire the property and is not the only buyer pursuing it.

http://www.chicagobusiness.com/article/20101113/ISSUE01/311139972

Fingers crossed. It would be nice to see this finished, even if it is not a supertall.

Great news. With such a prime location, it's good to see that hulk finally finished.

I was wondering what happen to Chicago...Lookin' forward to see some construction here...

:cheers:

Fingers crossed. It would be nice to see this finished, even if it is not a supertall.

maybe. However, the dream of page 1 of this thread is over. :(

Looking at the original renderings again, it wasn't as attractive as i originally had thought. Perhaps a newly designed, 60 story tower could be beneficial to the attractiveness of the design. Hopefully this 60 story tower will have very tall ceilings to make it a supertall :D

Hmmm. You might be able to get a 60 story office job as high as the original tower, if not higher...

If all else fails, there's always one way to make it a supertall:

:tiasd:

;)

Stalled Waterview Tower Could Get New Life As Office Building
This can only be a good thing: A Chicago developer claims to be "very far along" in his plan to take over the stalled Waterview Tower development on Wacker Drive and convert it into a 60-story office tower.

Read more:
http://chicago.curbed.com/archives/2010/11/15/stalled-waterview-tower-could-get-new-life-as-office-building.php

* * *

Goodman envisions offices at unfinished Waterview tower on Wacker Drive
By: Alby Gallun November 15, 2010

A partly built condominium-hotel tower on Wacker Drive—now just a concrete eyesore among the city's glittering riverside skyscrapers—would get a second life as a 60-story office building, if developer Mark Goodman gets his way.

...Mr. Goodman says he's “very far along” in planning for the Waterview project, which would cost more than $300 million. But he doesn't have a binding agreement to acquire the property and is not the only buyer pursuing it.

http://www.chicagobusiness.com/article/20101113/ISSUE01/311139972

60 floors? does it mean shorter tower or just higher floors? because the original was about 88 floors

Even at 60-stories it will be tall enough to stand on the bank of the river where it is located. And much better that the eye-sore that it represents in such a prime location.

Definitely good news, can't wait to see the renderings. :cheers:

60 floors? does it mean shorter tower or just higher floors? because the original was about 88 floors

Office floors are always taller than residential floors, but it might not be a supertall.

At least it´s planned to be completed, however, I agree with Dark Shadow. A 60-floor office building should be around 250-280 meters tall, 300 only can be reached with a huge spire (such the one of the Bank of America Tower in NYC).

An off-topic question: Anybody know what happens with Chicago Spire??? It would be an awesome tower and the thread is closed by now. :)

I heard that it was basically cancelled. While I don't believe that it was official it is a stale proposal.:(

At least it´s planned to be completed, however, I agree with Dark Shadow. A 60-floor office building should be around 250-280 meters tall, 300 only can be reached with a huge spire (such the one of the Bank of America Tower in NYC).

An off-topic question: Anybody know what happens with Chicago Spire??? It would be an awesome tower and the thread is closed by now. :)

http://chicagobreakingbusiness.com/2010/10/lawsuit-may-be-final-blow-for-chicago-spire.html

Thanks!!

Office floors are always taller than residential floors, but it might not be a supertall.

well lets count: about 60 floors with 15,5 ft each (regular height of office floors) =930 ft. if they add a few more floors and lets say a spire it will be right there. So it is not a bad deal after all. and it is still within really short distance from super tall. :D

well lets count: about 60 floors with 15,5 ft each (regular height of office floors) =930 ft. if they add a few more floors and lets say a spire it will be right there. So it is not a bad deal after all. and it is still within really short distance from super tall. :D

I doubt those parking floors are 15.5 feet. They're probably only 10 feet. 15.5 foot office floors is kinda overdoing it. 13 - 13.5 feet is more than adequate. The taller the floor the more expensive it is.

15 penn in new york is supposed to be 67 floors and 370 meters. and that new building in incheon is 68 floors at 305 meters, so i don't see why this couldn't be a supertall. i just hope that whatever they build is slender like waterview was supposed to be.

the site today - a wealth of textures.
http://lh3.ggpht.com/_8TC_VUmf9Fw/TPMSf4fAQ0I/AAAAAAABjSw/7koBVAgI7UA/s912/P1820558.JPG
http://lh3.ggpht.com/_8TC_VUmf9Fw/TPMShYDi-GI/AAAAAAABjS4/sjQ_qgfXmNQ/s912/P1820561.JPG
http://lh3.ggpht.com/_8TC_VUmf9Fw/TPMSige98CI/AAAAAAABjTA/f2tsrA7rRqw/s912/P1820576.JPG
http://lh4.ggpht.com/_8TC_VUmf9Fw/TPMSmebveyI/AAAAAAABjTY/gBk0T-e9v8M/s912/IMG_0899.JPG
http://lh5.ggpht.com/_8TC_VUmf9Fw/TPMSoN1xE2I/AAAAAAABjTg/HBk6pERKs2E/s912/IMG_0405.JPG
http://lh5.ggpht.com/_8TC_VUmf9Fw/TPMSpSpItYI/AAAAAAABjTo/QJejBGpWcXI/s912/P1840444.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/TPMSkNuHStI/AAAAAAABjTI/49rlfPV1MSI/s912/IMG_0459.JPG

http://lh3.ggpht.com/_8TC_VUmf9Fw/TPMSrTsmRCI/AAAAAAABjTw/4_GpGIe48Nk/s912/P1840456_4_5.jpg

Over the last few weeks Clark has been patched and a new covering installed closer to curb, a new awning has also been put in along Wacker, now on the sidewalk itself.

Nov 8th - nice view
http://lh4.ggpht.com/_8TC_VUmf9Fw/TPMZqMvkryI/AAAAAAABjUM/C_U-zvodUmo/s912/IMG_1423.JPG

http://lh6.ggpht.com/_8TC_VUmf9Fw/TPMZrE8-DSI/AAAAAAABjUU/2tqLNQmtIrg/s912/P1840521.JPG

Nov 17th, looking W down Upper Wacker
http://lh4.ggpht.com/_8TC_VUmf9Fw/TPMaKGDsnyI/AAAAAAABjUc/R1S1acnbRX0/s912/P1840814.JPG

Nov 22nd, looking S down Clark st.
http://lh3.ggpht.com/_8TC_VUmf9Fw/TPMaL_2s_UI/AAAAAAABjUk/E5-hLEopdw4/s912/P1850008.JPG

Nov 24th - one nice lobby - one day
http://lh5.ggpht.com/_8TC_VUmf9Fw/TPMaOegs-aI/AAAAAAABjUs/r67qZAkfs9A/s912/P1850032.JPG
May 3rd - Nov 24th
http://lh3.ggpht.com/_8TC_VUmf9Fw/S_LLqQU_SDI/AAAAAAABhvg/Xm6IxWf79-0/s640/P1720092.JPG http://lh6.ggpht.com/_8TC_VUmf9Fw/TPMaUFae8CI/AAAAAAABjU0/6iMUcL4NJJs/s640/P1850022.JPG

did they cancel a building they where in the middle of doing? weird :ohno:

harryc, thanks for the pictures.

I hope this project goes ahead. Every new Chicago Skyscraper thrills me so much.

did they cancel a building they where in the middle of doing? weird :ohno:

The developer started building it with their own money and couldn't get financing to finish it.

Stalled Waterview Tower Could Get New Life As Office Building
This can only be a good thing: A Chicago developer claims to be "very far along" in his plan to take over the stalled Waterview Tower development on Wacker Drive and convert it into a 60-story office tower.

Read more:
http://chicago.curbed.com/archives/2010/11/15/stalled-waterview-tower-could-get-new-life-as-office-building.php

* * *

Goodman envisions offices at unfinished Waterview tower on Wacker Drive
By: Alby Gallun November 15, 2010

A partly built condominium-hotel tower on Wacker Drive—now just a concrete eyesore among the city's glittering riverside skyscrapers—would get a second life as a 60-story office building, if developer Mark Goodman gets his way.

...Mr. Goodman says he's “very far along” in planning for the Waterview project, which would cost more than $300 million. But he doesn't have a binding agreement to acquire the property and is not the only buyer pursuing it.

http://www.chicagobusiness.com/article/20101113/ISSUE01/311139972

Any update on this proposal?

via spyguy.

:cheers:

http://www.chicagobusiness.com/artic...#axzz1CRZ30Qab
Developer Reschke takes crack at unfinished Waterview Tower
By: Alby Gallun January 31, 2011

Fresh off a 610-room Loop hotel project, Michael Reschke has signed up for a tougher job: reviving the Waterview Tower, a 26-story concrete carcass on Wacker Drive.

The Chicago developer has reached a tentative agreement to buy the unfinished condominium-and-hotel tower, which was supposed to reach 90 stories but stalled when the original builder ran out of money in 2008. Sources say Mr. Reschke wants to complete the hotel but plans to build offices on top of it, similar to a plan pushed last year by local developer Mark Goodman, who tried to buy the project but couldn't (Crain's, Nov. 14, 2010).

If it becomes an office building then there is the chance it could be a supertall.

I feel so bad for the supertalls in Chicago.

First the Spire and now this :(

IMHO it doesnt matter anymore if it is going to have the supertall status. they should just finish it at some height and dont leave it like that. :/

I hope they finish it...
This is a really sad picture...:ohno:

is there a thread on the chicago spire? Couldnt find one.

the next new skelleton ruin

The Chicago Spire thread is closed.

A so should be this one until there is some real news.

A so should be this one until there is some real news.

http://www.skyscrapercity.com/showpost.php?p=74449251&postcount=762

ChicagoAgent (http://chicagoagentmagazine.com/new-plan-for-waterview-tower/)


New Plan for Waterview Tower

11 May 2011

http://www.chicagoarchitecture.info/CAI/Images/201108/WaterviewTower-Chicago-00907-002a.jpg

Waterview Tower has been a prospective 90-story skyscraper, a potential 60-story hotel and office, and even a BASE jumping locale, but Chicago developer, Related Midwest now plans to morph the building.

Related Midwest signed a letter of intent to form a development joint venture with the current owners of the building at 111 W. Wacker Drive, according to Crain’s.

While no details of the agreement have been released, it is speculated that the developer may plan to construct apartments at the location, as they are frequently recognized for building condiminium high-rises.

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Add this from Curbed Chicago: http://chicago.curbed.com/archives/2011/05/11/longstalled-waterview-tower-to-be-completed-with-apartments.php


"According to Crain's, Related has signed a letter of intent to Related Midwest team up with the group of creditors that currently owns the unfinished building, but there are zero details about their plans. Whatever they decide to do with the site, don't expect it to approach the 90 stories that the original developer, Teng & Associates, sought to build."

A height decreasement would be really sad news. It could be such a sexy mother when being 90 floors tall. :(

I always loved the huge slender appearance of this tower, one of my favourite US projects to date.

This looks like 3WTC.

A height decreasement would be really sad news. It could be such a sexy mother when being 90 floors tall. :(

I always loved the huge slender appearance of this tower, one of my favourite US projects to date.

The big height chop pre-dated the deal with Related so I'm hopeful they can get a hotelier on board and drive this baby past 80 floors but right now, nobody knows...

This looks like 3WTC.
Huh? No it doesn't.

It looks a little like, US Bank in LA. The overall shapes of the two building are different but for some reason this reminds me of that building.

A height decreasement would be really sad news. It could be such a sexy mother when being 90 floors tall. :(

I always loved the huge slender appearance of this tower, one of my favourite US projects to date.

I agree, but it's just not feasible anymore. Next best thing is just to make sure that we get a proper building here.

I agree, but it's just not feasible anymore. Next best thing is just to make sure that we get a proper building here.

Yeah, even though Related can get financing for a rental tower, the math changes considerably on building it as a supertall. Unless another component like a hotel can get added to this project, I wouldn't expect anything much higher than 50 stories.

^^ That would still make a decent height and is a lot better then this unfinished structure at this spot in the city. ;). Too bad that the original plan will not materialize. :(

I only fear this might end up like the Metlife North building in NYC.

Your afraid a great depression might halt it's progress. I don't think that's what's happening here.

I hope so :dunno:

At this point in time, I don't care if they intended on down sizing from the original buildings plans. I'm just happy to hear that the gears are in motion to turn this ugly concrete hulk into something more visually appealing and useful even if at only 60 stories...

http://online.wsj.com/article/SB10001424053111904772304576470552102253090.html?mod=googlenews_wsj

New Life for Stalled Project
By ELIOT BROWN - JULY 27, 2011

Related Cos. bought control of a half-built skyscraper in Chicago's downtown on Tuesday in a bid to restart construction on the site, people involved with the deal said.

Construction on the project froze at 25 stories in 2008. The developer at the time, a group led by Ivan Dvorak, was planning a 90-story, mixed-used project including condominiums and a Shangri-La hotel called Waterview Tower.

Instead, Related plans to turn it into a luxury rental building of about 500 apartments, rising over 50 stories. The New York-based company is using money from a $1 billion distressed real-estate fund it is raising to finance the project, according to people familiar with the matter. Terms of the transaction weren't available.

...Related, for example, still needs to arrange new construction financing for the Chicago project.

Good news! A shame it won't be a supertall, but 50+ stories will definitely still have some serious height.

50 floors should put it in the same vicinity as the neighboring United Building and Leo Burnett Building, which is just fine with me.

More about this:

http://online.wsj.com/article/SB10001424053111904772304576470552102253090.html?mod=googlenews_wsj

Instead, Related plans to turn it into a luxury rental building of about 500 apartments, rising over 50 stories. The New York-based company is using money from a $1 billion distressed real-estate fund it is raising to finance the project, according to people familiar with the matter. Terms of the transaction weren't available.

The deal shows how some developers are turning to messy projects eschewed by traditional investors in the pursuit of high returns in a crowded investment landscape. Private-equity funds and traditional investors are lining up to buy office buildings and hotels in cities such as New York and Washington, bringing up prices faster than rents, and thus pushing down yields to near-historic lows. But there is less competition for higher-risk projects such as unfinished condo towers. Returns in these deals can be far higher than safer bets like office buildings with low vacancy. But they also could suffer if the economy weakens or they run into construction problems. Related, for example, still needs to arrange new construction financing for the Chicago project.

Related typically focuses on ground-up development of retail and apartment projects in New York and some other cities. But recently it has used its distressed fund to target a set of stalled condo projects, including a failed condo project in Ft. Myers, Fla., called Oasis Condominium, and Rector Square, a stalled condo conversion project in Manhattan the firm bought into in January. Jeff Blau, president of Related, said in an interview Tuesday that the Waterview project will be more successful as a rental-apartment building. "We eliminated a five-star hotel brand and condos, which are not the right product for the market today," he said.

The Los Angeles-based CIM Group has also set its sights on a number of stalled developments, and last year bought the vacant site of the former Drake Hotel in New York on Park Avenue in a deal with developer Harry Macklowe. CIM and Mr. Macklowe also recently bid on the failed condo conversion project at 1107 Broadway, a mostly empty building in Manhattan, according to a person familiar with the matter.

In Chicago's Waterview Tower, Related is buying a skyscraper project that once was slated to be among the city's tallest buildings, a slender glass building on West Wacker Drive along the Chicago River. With contracts signed for many of its condos and a hotel tenant committed, Mr. Dvorak's group took the unusual step of starting building without a construction loan back in 2006. They ran out of money by the end of 2007, but contractors kept working, assuming money was soon to come. "We obviously convinced everybody that the loan is around the corner," said Mr. Dvorak, a Chicago-based developer, in an interview. He said he received tentative commitments from multiple banks. "Until you have it, it's only on paper," he said

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Crain's Chicago (http://www.chicagorealestatedaily.com/article/20110726/CRED03/110729878/developer-closes-on-deal-for-stalled-waterview-tower-project)


Developer closes on deal for stalled Waterview Tower project

By: Alby Gallun
July 26, 2011

http://2.bp.blogspot.com/_CO0zjjgBW3s/SRnMYXfNonI/AAAAAAAAB7w/1Sho8mSD0JY/s400/Waterview+Tower.jpg
The unfinished Waterview Tower at 111 W. Wacker Drive. Photo by Stephen J. Serio

(Crain's) — Related Midwest has completed its acquisition of the stalled Waterview Tower project, with plans to convert the Wacker Drive structure into a 65-story, 500-unit luxury apartment building.

The developer, a unit of New York-based Related Cos., closed Tuesday on a deal Crain's first reported it struck back in May to buy a controlling stake in the project at 111 W. Wacker Drive, said Curt Bailey, president of Related Midwest.

Related is buying its stake from a group of creditors that took over the project last year. Its original developer, an affiliate of Chicago-based Teng & Associates Inc., had planned a 90-story condominium-hotel tower there but ran out of money in 2008 and only completed a 27-story concrete shell. Teng has retained an ownership stake in the project.

Related pulled off a deal after unsuccessful attempts by Chicago developers Michael Reschke and Mark Goodman, who both wanted to refashion the project into hotel and office space. But apartments are a more appealing choice amid a booming downtown rental market. Four new downtown apartment towers are under construction, and at least 10 more are on the drawing boards. In addition to Waterview, Related also plans a 500-unit apartment tower at 500 N. Lake Shore Drive.

Related likes the site because of its proximity to the downtown business district and the restaurants and entertainment attractions in River North, Mr. Bailey says. In addition, “the views afforded from the site are spectacular,” he says. Related aims to begin construction in first-quarter 2012 and complete the project 18 to 24 months later, he says.

[...]

65 floors? If we're (really) lucky, it might come close to it's original height ^.^

Although something like 850-900 feet is probably what's gonna happen right?

I would guess something in the high 600s or low 700s. Given they are apartments the ceiling heights will likely be somewhat low.

50 floors should put it in the same vicinity as the neighboring United Building and Leo Burnett Building, which is just fine with me.

Yep. If all goes right they should all make a nice trio.

^^

Yeah, I think we're talking skyscraper now. Still a great outcome for this troubled tall! :cheers:

Well, at least those apartments will have plenty of parking

What is the height of the floors already constructed?

wow, exciting news for Chicago!!!!!!

This should be moved to the skyscraper thread. It won't be a super tall.

I was thinking the same thing.

Surprisingly good news. This time last year I'd have told you it would be eventually demolished.

This should be moved to the skyscraper thread. It won't be a super tall.

Done. If height is increased again, we can move it anyway.

Done. If height is increased again, we can move it anyway.

Thanks

At 65 stories, this is what the old Waterview design would look like (give or take a few floors) compared to the original proposed height. Of course, the design will change.

http://img189.imageshack.us/img189/9800/waterviewnightviewlower.jpg

Rendering from post #1

Really nice comparison, thank you! But I hope the design won't change at all.
I loved the slender appearance and the crown of the initial concept.

Done. If height is increased again, we can move it anyway.

Let's change the floor count (to 65) and erase the height figures. It's just going to cause confusion.

Done, thanks for the useful advice!

Change 'Cancelled' to something else, too.

Oh, and it's no longer "canceled". ;) Since it's already 25 floors up, and construction is to resume, maybe move it from 'proposed' and call it 'on hold'?

I was about to do that beforehand... Oh well. Now it should be to everybody's pleasure ;)

Really nice comparison, thank you! But I hope the design won't change at all.
I loved the slender appearance and the crown of the initial concept.

I kinda hope the same though I expect it to change. I loved the orginal concept and at the time was more excited about it than I was about Trump.

Thanks erbse! :cheers:

And Related may make changes to the top since the five star hotel concept is out, but beyond that, the biggest changes are obviously going to be inside. Unless they want to get frisky with the curtain wall...

Posted by spyguy at SSP:

I'm not sure if this is the final design or not (by DeStefano and Partners).

http://img200.imageshack.us/img200/7526/111wacker2.jpg
http://img194.imageshack.us/img194/6871/111wacker1.jpg
http://img20.imageshack.us/img20/5164/111wacker3.jpg
http://img220.imageshack.us/img220/6871/111wacker4.jpg
http://img687.imageshack.us/img687/8981/111wacker5.jpg

Hm... In some way, I think I prefer the sleek initial design.

Sweet! Anything is better than what it is now, and I couldn't have asked for much more with that design. :)

Wow! What a redesign! I'm amazed that they would make such a change but we'll see I guess...

Very creative. Creative architecture always trumps height.

Very cool! It's good to see some progress with that site!

Very cool! It's good to see some progress with that site!

Curbed (http://chicago.curbed.com/archives/2011/11/04/scaledback-plan-for-waterview-site-a-net-gain-for-wacker.php)


Scaled-back Plan for Waterview Site a Net Gain for Wacker

http://farm7.static.flickr.com/6107/6315397069_a8633540f4.jpg (http://www.flickr.com/photos/27006681@N05/6315397069/)
Marque Chicago (http://www.flickr.com/photos/27006681@N05/6315397069/) by MM2 (http://www.flickr.com/people/27006681@N05/), on Flickr

In case you missed it on Skyscraper Page (we almost did), the latest renderings for development of the former Waterview Tower site at Clark & Wacker have hit the scene. News of Related Midwest's plan for a 500-unit "marque" rental tower broke in late July, after their purchase of the unfinished tower for $26 million. We hadn't seen fresh renderings until the ones above from DeStephano Partners emerged last week. We don't know yet if recent news of the impending collapse of DeStephano will affect the project. Originally 90 stories, speculation had it scaled back to 65, and it now stands at 52, as Jeff Blau, president of Related told Bloomberg Media in mid-September.

The technique for dealing with the half-finished base of the Waterview is to cantilever the new portion above. It's an interesting juxtaposition, the top looking nothing like the base. The 5-10 story gap between halves brings the actual height closer to a 65-story story building, and in line with RR Donnelly next door. There's no indication this is the final design. And across the board, there's skepticism about the safety of the cantilevered design, with only the core suspending the upper 30 stories.

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So the name for this iteration of Waterview is now "Marque"? Or are they just trying to upscale the brand?. The floor count is 52 actual occupied but may be marketed as "65 stories" owing to the core shaft between the base and upper tower.

It looks like someone's been chewing through the pencil. I like it a lot more than the original design they had.

Are there any closeups of that mid section?

Great tower in the end if they go ahead with this design. This could actually have a happy ending! :)
Question: is this a 'vision' or are the architects sure about the weight distribution on the single core?

outside design is actually a bit more interesting with these bumps along the way, but 52 stories instead of 90... Not so good IMHO.

this is atrocious. i mean, the top part is beautiful. but what they hell are they thinking with the base? this is a beautiful stretch along the river and placing something like that along there is going sned us smacking our foreheads 30 years from now (or probably before). im with everyone that what is there now is terrible, but dont sacrifice the character of a city just to put up a tower sooner. we've dealt with it for awhile now as it is, but lets try and replace it something worth building!

This will be hideous. That top part is horrid. So sad the old, superior design is a no go.

This is what it suppose to represent?
http://3.bp.blogspot.com/_6I27LgG9bck/SYziY18VNiI/AAAAAAAAHqE/NO7KO2os8hg/s400/z151589611.jpg

I'd much rather see the initial design that says Chicago all over shortened, than getting this flashy-style short-sighted trend slave getting built.

The new design sucks.

Dec 2011
https://lh6.googleusercontent.com/-atBdwiZr62s/TuedD8GTwiI/AAAAAAABpEQ/250YYmA_Y8Y/s912/P1100794.JPG

https://lh5.googleusercontent.com/-CU1uXOPKkUI/TuedEexEtAI/AAAAAAABpEU/mZhJxWiD024/s912/P1100799.JPG

https://lh5.googleusercontent.com/-_G-qzU97L9s/TuedE86K7VI/AAAAAAABpEY/nNu_V_8OmyU/s912/P1100797.JPG


Jan 6 2012
https://lh3.googleusercontent.com/-kI_S8-Xat3Y/Tw9xUU4WO6I/AAAAAAABpXQ/VMj3GAyVtGI/s912/P2010309.JPG

^ Not showing up here. :(

via JM Tungsten over @ SSP via cgarchitect

Thanks nowhereman. If this one turns out half as cool as this rendering, I will be beyond ecstatic!
http://i592.photobucket.com/albums/tt1/JMTUNGSTEN/c4e54658.jpg
Pic from: http://www.cgarchitect.com


Also from today over @ SSP via modkris

Noticed this sign going up today at the site. http://img39.imageshack.us/img39/6715/img3874z.jpg (http://imageshack.us/photo/my-images/39/img3874z.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

https://lh6.googleusercontent.com/-bJ3cs063lic/T1i-1GMtLGI/AAAAAAABp0M/_cSGRCot0dI/s800/P1020695.JPG

I really hope for Chicago's sake that design isn't final

What on earth is this design supposed to be? I dont get it... at all. In fact, there are no words. Just awful.

I dont get why they feel the need to put two completely different designs on top of one another. I would like the top half if it had more continuity with the bottom half but it doesn't, especially with the huge gap in the middle.... Weird.

i like that design :)

I think it's pretty cool what they made of it.. I mean, there's a screwed up carcass in the middle of the city. What are you supposed to do with that?

I think it's pretty cool what they made of it.. I mean, there's a screwed up carcass in the middle of the city. What are you supposed to do with that?

Do what Toronto did and tear it down.

Who is going to pay for that?

I like the design. But is the top not to heavy for the bottum?

I love both designs.. The new design is awesome in my opinion. Especially the bottom part. I just hope Chicagoes skyline doesn't become a row of dominoes falling on top of each other because this tower is unsteady. :lol:

The top one is pretty nasty. Hope the gap in the middle is fixed too.

https://lh3.googleusercontent.com/-1bQ_qfOkTGc/T2tt0UUm5yI/AAAAAAABp8w/FZ7OLQ31QKg/s800/P1030072.JPG

March 12 2012

https://lh3.googleusercontent.com/-1bQ_qfOkTGc/T2tt0UUm5yI/AAAAAAABp8w/FZ7OLQ31QKg/s800/P1030072.JPG

March 12 2012

So I'm guessing this is becoming reality???

I have also heard that there are people up on the top floor walking around taking pictures of its current conditions. I think there observing it for the middle part of the project. So that nothing goes wrong with it..

I believe I read about this on skyscraper page.

I cant see why they can just stick with the old design, this one is ridiculous :weird:

Freaking awesome design! How can some not adore it?!

Part of me likes the design because its bold, daring, and eye catching. But, part of me sees the top and bottom, and is like did you order the wrong part ?

Question: how did you find this new proposal? Is there any articles on this? Also is there a name for this?

Question: how did you find this new proposal? Is there any articles on this? Also is there a name for this?

This may not be the final design, but its definitely getting built, and will be 65 stories, maybe more if we are lucky. But the name is still water view i believe.

The new design sucks.

Kind of have to agree, its tall though.

Kind of have to agree, its tall though.

Yeah, but I honestly think they will fix the design. The cantilever would look incredible if done right, and would give the river a more futuristic look, this could be magnificent, lets just wait for the final design.

This may not be the final design, but its definitely getting built, and will be 65 stories, maybe more if we are lucky. But the name is still water view i believe.

That will be awesome if it gets built, another supertall, and bumping the height is a bonus. I honestly love the design I mean it's something different. Especially in Chicago, it's taking it to a whole new level. Probably when it gets built it would look different but for me the design is unique. I love of. Also I want to read more about it. Know anything?

That will be awesome if it gets built, another supertall, and bumping the height is a bonus. I honestly love the design I mean it's something different. Especially in Chicago, it's taking it to a whole new level. Probably when it gets built it would look different but for me the design is unique. I love of. Also I want to read more about it. Know anything?

No, im not saying they are bumping the height, im saying that maybe they will build it closer to waterviews original height if we are lucky, but they haven't said anything about going higher then 65 stories.

No, im not saying they are bumping the height, im saying that maybe they will build it closer to waterviews original height if we are lucky, but they haven't said anything about going higher then 65 stories.

No, I was meaning it would be awesome if they bump the height a little. And thanks

There's a new design. Here's my blog post for Curbed:

http://chicago.curbed.com/archives/2012/04/25/waterview-redesign.php

Hrmpf. Not a change for the better, frankly. :colbert:


Actually, it has become quite an uninspiring, ugly duck now.

Why can't they just switch back to original design?

While I like the new design more, I'm not a fan of the building being shortened...