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Old November 13th, 2005, 07:23 AM   #1
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Streeterville Development News

STREETERVILLE: CHICAGO AVE TO THE NORTH-OHIO TO THE SOUTH-LAKE MICHIGAN TO THE EAST: MICHIGAN TO THE WEST


150 E. Ontario. 50 Story Residential.


Last edited by LA1; November 13th, 2005 at 07:39 AM.
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Old November 13th, 2005, 07:30 AM   #2
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---------------------------------------------
Glass and glitz are the new traditions in Streeterville

By John Handley
Tribune staff reporter
Published July 10, 2005

Glass is in. Concrete and brick are out.

Modern is in. Traditional is out.

Those are the guiding lights of Chicago's leading architects who are competing — informally — to design unique skyscrapers for a glitzy new neighborhood.

Their entries in what they hope will be the best of 21st Century residential architecture soon will tower over the south end of Streeterville, the fast developing neighborhood between North Michigan Avenue and Navy Pier.

Suddenly hot, Streeterville will sprout 13 new high-rise condos in the next two years, adding 3,500 residential units.
None of the towers is ordinary. All are contemporary..

Why the switch from the old-style buildings of concrete, brick and stone?

"Developers have discovered that great design actually sells condos," explained David Hovey, president of Optima Inc., an architectural and development firm in Glencoe.

"The surge in contemporary architecture means there is an alternative to bland buildings. It's a breath of fresh air," Hovey added.

Helmut Jahn, internationally known architect of the James R. Thompson Center and the United Airlines terminal at O'Hare International Airport, has designed his first residential high-rise in Chicago for a Streeterville location.

"It will have a total glass and metal skin. No exposed concrete outside. All the balconies are recessed and part of the curtain wall," said Jahn, describing his 41-story condo that will be built at 600 N. Fairbanks Ct. "This building will be different from what you normally see. I call it urbanistically sophisticated."

The building will have a rounded corner at the intersection of Fairbanks and Ohio Street, and one side curves upward from the base.

Jahn noted that there have been complaints about the architecture of some Chicago high-rise condos built in recent years. "In a hot market, you can sell anything. But it's fortunate now that some developers want to do something better," he said.

Gary Rosenberg, president of Urban R2 Development, developer of 600 N. Fairbanks, said it will be "a work of art itself."

Jahn is not as optimistic about all the other residential towers going up in Streeterville. "My expectations are not high. We'll have to wait until they are built."

From residents' perspective, Hovey noted that buildings with floor-to-ceiling glass windows are more livable. "The views are better, and there is more light inside."

"High-rise living is all about the views," said Robert Bistry of Built Form Architects, designer of Avenue East, the 27-story condo to be built at 160 E. Illinois St., directly behind the Intercontinental Hotel at 505 N. Michigan Ave. It will have only three sides with windows.

"Architecturally, Avenue East will be a transition between the classic buildings on Michigan Avenue, including Tribune Tower and the Wrigley Building, and the new high-rises in Streeterville. The east facade will be more glassy than the sides," Bistry said.

"The refreshing, friendly architectural competition in Streeterville is good for the city," he added.

"Most developers want a safe and predictable look, so less interesting architecture has been the result," said David Brininstool, partner in the Chicago architectural firm of Brininstool & Lynch, designer of 550 St. Clair, a 26-story condo to be built at St. Clair and Ohio Streets.

"What's happening now," he said, "is that developers feel architecture has value in the marketplace."

Another force affecting design comes from City Hall. "Mayor Daley didn't like contemporary architecture before. But now he's coming around," said 550 St. Clair developer Mark Sutherland, principal of Sutherland Pearsall Development.

"There has been a definite change in climate at City Hall. Now they are encouraging contemporary design," Brininstool said. "Before, city employees were trying to read the mayor's mind. They thought he wanted red brick and limestone."

"Now is one of the most exciting times in 25 years as an architect. Great work is possible again," Brininstool said.

One key developer looks south for proof of the trend. "Millennium Park was one indication that the city had changed its thinking," said Daniel McLean, president of MCL Cos., builder of three Streeterville condo towers. "Now contemporary architecture is more accepted and main stream. The public has embraced the clean, modern look."

McLean described the look of his latest Streeterville project, Park View, as "soaring glass." Designed by the architectural firm of Solomon Cordwell & Buenz, it will have 47 stories and 270 units and is scheduled to begin in the fourth quarter.

Why is Streeterville emerging as a showcase for modern architecture?

Abe Lincoln started it all. He charged $350 in 1858 for legal work in forming Chicago Dock and Canal Trust, a real estate investment firm that became a major landowner in Streeterville.

Then came "Cap" Streeter, who ran his ship aground in 1886 on a sandbar offshore of what is now Chicago Avenue and Superior Street. He decided to stay and gave the neighborhood its name.

Though just east of Michigan Avenue, south Streeterville has been slow to develop. Gradually, the sea of street-level parking lots and industrial sites is giving way to more residential buildings.

The latest condo explosion will fill in most of the vacant sites.

"Streeterville's time has come," said 550 St. Clair developer Sutherland, who added that his firm is planning another residential project in the neighborhood.

First occupancies at 550 are scheduled for the third quarter of 2007.

He says he doesn't fear the competition of the other new buildings being launched at nearly the same time. "No, the momentum of all the projects will help us," he said.

Real estate analyst Steven Friedman, president of S.B. Friedman Co., explained why Streeterville is suddenly hot. "There's land there." He added that the emergence of Chicago as a leisure destination has helped spark the popularity of city living.

"Streeterville is the only place where there are vacant sites near the lake and river," said Gail Lissner, vice president of Appraisal Research Counselors. And, she foresees no threat to the launching of the Streeterville projects. Despite fears about the overheated housing market nationally, Chicago condo sales and traffic remain strong, according to Lissner.

Not everyone is looking forward to more construction in Streeterville. The panoramic views of some existing residents will be blocked by the new buildings. These residents also fear the Manhattanization of the neighborhood, resulting in high-rise canyons towering over gridlocked traffic.

Ald. Burton Natarus (42nd), who represents the area, stressed that the neighborhood was approved as a high-rise area in the 1980s, when Chicago Dock and Canal plans were approved.

But McLean, a pioneer in Streeterville condos, sees a different outcome:

"This is the most complete downtown neighborhood in the city," he said, adding that the new projects will increase foot traffic on Streeterville's streets and make it a real neighborhood.

"Streeterville has the river, the lake, a new art gallery, sightseeing boat tours, grocery stores, two hotels, a movie theater, dozens of restaurants, a fountain on the river and views of the city's skyline from many buildings."

As cranes start cropping up, it appears that "Cap" Streeter's new neighborhood has set sail, and no sandbars are likely to block its progress
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Old November 13th, 2005, 07:31 AM   #3
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Condo Developers Cross St. Clair Street
By Mark Ruda
http://www.globest.com/news/398_398...o/139458-1.html
Last updated: October 21, 2005 05:19pm

CHICAGO-With pre-sales of a 112-unit building at 550 N. St. Clair St. hitting the 70% mark, developer Mark Sutherland is able to look across the street for his next project. Sutherland Pearsall Development’s plans for a 38-story, 316-unit building at 535 St. Clair St., 47% larger than allowed under existing zoning, were endorsed by the plan commission.

Units will range from 600-sf studios in the “mid” $200,000 range, Sutherland tells GlobeSt.com, to 1,800-sf penthouses in the $1-million neighborhood. The lender for the project across the street has expressed interest in financing the second phase of Sutherland Pearsall Development’s makeover of the block running from Grand Avenue to Ohio Street, he adds.

“I think this project is a model for future projects with its sustainable development features,” says architect Linda Searl, vice chair of the plan commission. Among the features, she notes are a greenhouse that will harvest energy and a drainage system that will recycle rain water.

The building will include 7,700 sf of ground-floor retail space as well as garage parking for 275 vehicles. The plans also include keeping a four-story building on St. Clair Street, which will be converted to nine units, as well as a four-story parking garage.

In addition, the project won over an important community group, notes plan commission member John Nelson. The Streeterville Organization of Active Residents deemed the proposed building “a very good project” in a letter to John George, the developers’ attorney. “It seems like any time we look at something in the neighborhood, SOAR would have something to say,” Nelson says. “This is a first.”
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Old November 13th, 2005, 07:33 AM   #4
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jh

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Old November 13th, 2005, 07:45 AM   #5
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CityFront Plaza



By John Handley
Tribune staff reporter
Published April 22, 2005


The concrete hulk stood empty and unfinished for more than two years, a stark reminder of the perils of real estate development.

Just a block east of the Magnificent Mile, the eyesore was supposed to be a parking garage for Grand Pier Center, a $375 million, mixed-use project. But financial problems stalled construction of the project in June 2001.

Now, another developer is picking up the pieces and has revealed plans to jump-start the project and build three residential towers with approximately 1,000 units at the Streeterville site, bounded by Grand Avenue, Columbus Drive and Illinois and St. Clair Streets.

Chicago-based Centrum Properties Inc. acquired the site from Lehman Brothers in December, and has been reworking plans for the massive project.

John McLinden, partner in Centrum, the new developer, said the three slender buildings will be 31, 65 and 40 stories.

The first tower will be built over the existing parking garage, which has been finished, and also will house a 55,000-square-foot Dominick's supermarket. It will total 31 stories.

"The project has been renamed CityFront Plaza to rebrand its image and sever the ties with the past," McLinden said.

The trio of high-rises, an $800 million project designed by Chicago-based architects Destefano and Partners, should be completed in six years, McLinden said.

"This is an important site that will be visible from Michigan Avenue," he added.

The first building, named the Fairbanks, will have 281 condos priced from the mid-$300,000s to more than $2 million. A sales center will open in June. Construction should begin by the first quarter of next year, McLinden said.

The original project by developer Raymond Chin was planned for a 480-room hotel over the garage and a separate condo tower with 538 units.

"We scrapped the old development plan. It just didn't make sense," McLinden said. "Our new vision is completely different."

He said planning for CityFront Plaza is in the final stages and should be completed soon.

The existing parking garage, designed for 750 cars, will be modified. Part of its six floors will be converted into 42 loft condos, McLinden said.

The main access to CityFront Plaza will be on upper Illinois Street, which runs between Michigan and Columbus. Four restaurants are planned on Illinois in the three new buildings. "They will create new street life," McLinden said.

The Fairbanks will have an outdoor swimming pool, fitness center and media room.

A boutique hotel and spa will be located in the second building. When complete, the project will have parking for 1,300 cars.

CityFront Plaza is just one of several residential high-rises planned for the Streeterville neighborhood between Michigan and Lake Shore Drive, north of the Chicago River.

"Some 3,500 new residential units are planned for the area," said Daniel McLean, president of MCL Cos., a pioneer in Streeterville development. "So far, the market has been good," he added.

Even with the boom in new residential projects, real estate analyst Gail Lissner does not expect a glut.

"In the last 15 years Streeterville has been somewhat ignored by developers while other downtown areas have been developed with new residential. Now Streeterville's time has come. The new projects should gain market acceptance. There should be no glut," said Lissner, vice president of Chicago-based Appraisal Research Counselors.

Lissner said the Centrum project has the advantage of having a direct link to the Magnificent Mile on upper Illinois Street. "Every residential developer wants to be as close to Michigan Avenue as possible," she said.
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Old December 17th, 2005, 03:48 AM   #6
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Marvel33 @ SSC posted:
BTW, one of my colleagues heard a rumor yesterday that a Canadian Developer is interested in purchasing the block between Ontario, Ohio and La Salle where the "Ohio House" motel and the "Sports Authority" currently are located. That would be a great location for a new development. I have always thought that's kind on an eye-sore for that area.

Has any body heard anything about it?


http://forum.skyscraperpage.com/show...pagenumber=288
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Old December 17th, 2005, 03:59 AM   #7
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OH NO! my life would be ruined if the world's tallest sport's store was destroyed!! that place is awsome, especiallly the lit up exterior and the floor numbers seen from the exterior with baseballs, footballs, and other sports things identifying each floor. IT CAN't GO AWaY!
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Old December 18th, 2005, 03:28 AM   #8
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Quote:
Originally Posted by Chi_Coruscant
Marvel33 @ SSC posted:
BTW, one of my colleagues heard a rumor yesterday that a Canadian Developer is interested in purchasing the block between Ontario, Ohio and La Salle where the "Ohio House" motel and the "Sports Authority" currently are located. That would be a great location for a new development. I have always thought that's kind on an eye-sore for that area.

Has any body heard anything about it?


http://forum.skyscraperpage.com/show...pagenumber=288
this belongs in a river north thread not streeterville
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Old December 18th, 2005, 04:03 AM   #9
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Rivernoth thread is buried somewhere. I don't feel like looking for it. I am so lazy.
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Old January 3rd, 2006, 06:23 AM   #10
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Two

...pictures of The Streeter (sp?) taken on Christmas Day looking south across the river.



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Old January 3rd, 2006, 06:27 AM   #11
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You can also post these on the 321 East Ohio (The Streeter) thread.
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Old January 5th, 2006, 01:07 AM   #12
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A blurb from today's Chicago Tribune.

http://www.chicagotribune.com/busine...i-business-hed

Golub buys studios: As expected, Golub & Co. has completed the purchase of the historic Streeterville studios of WBBM-Ch. 2, with plans for construction of a 750-unit apartment complex after the CBS affiliate moves in late 2007 to its new home on Block 37, said Michael ******, president of the Chicago development firm.

Golub has formed a development joint venture with Boston-based Halcyon Ventures, which was formed in 2004 by former principals of AEW Capital Management LP, a frequent financial partner, said Lee Golub, executive vice president with the developer.
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Old January 5th, 2006, 04:18 AM   #13
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750 units!!! Woah... Does this project have a name?
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Old January 5th, 2006, 05:37 AM   #14
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^ Plus it's apartments, which means we don't have to wait for the long, laborious process of units being sold..
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Old May 3rd, 2006, 02:50 AM   #15
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Here is the information that I have on the twin towers for the CBS site in Streeterville.















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Old May 3rd, 2006, 02:59 AM   #16
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woow those look like they got alot of promise!!
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Old May 5th, 2006, 07:43 AM   #17
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I've got to admit I'm a bit concerned about how these will look so close to another set of twins (McClurg Court Towers).
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Old June 18th, 2006, 06:16 PM   #18
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A touch of glass

June 18, 2006

BY SANDRA GUY Staff reporter






Jim and Sara Coffou moved to the burgeoning River East neighborhood from Wicker Park a year ago to take advantage of the conveniences of downtown living, and quickly discovered that their unobstructed views proved a design bonanza.

The family's northwest corner condo features a wrap-around window design that provides a spectacular view of city landmarks: Millennium Park and Navy Pier, in particular, pop out.

"It exemplifies a modernist design in its surfaces and its openness," said Jim Coffou, who, along with Sara, runs executive-search consulting firm Coffou Partners. "The detailing is minimal -- the moldings and the finish are minimal -- to highlight the views."

The Coffous enhanced the effect by having their hardwood floors stained black and keeping the walls neutral in the 3,500-square-foot condo.

"You are blown away by the views," Jim Coffou said.

The Coffous' "green" philosophy of efficiently using resources played a role in the design elements: They own a hybrid car and believe in environmental responsibility.

"When you are living in a high-rise, you need a sense of foundation. A dark floor provides that," Jim Coffou said. The color scheme mirrors the Earth's palette: The ground is darker than the surfaces above.

The colors also enhance the Coffous' collection of mid-20th century artwork, including oils on canvas by artists from the Depression-era Works Progress Administration, and post-World War II abstract paintings by artists from the Chicago and New York schools. The family also displays contemporary works by Chicago artists Anna Kunz and Miyoko Ito.

The Coffous chose modern, urban-friendly furniture designers such as Donghia, Holly Hunt, Ray and Charles Eames, Ero Saarinen and Mies van der Rohe.

The southern portion of the River View tower features condos with rounded living rooms -- another element intended to enhance the building's city views.

The developer, Dan McLean's MCL Cos., chose a Marshall Field's designer to decorate the showpiece rounded condo, called the Wabash.

Senior designer Martin O'Connor said the rounded glass wall presented a design challenge, but also an opportunity to enhance the condo's "timeless, classic modern look."

O'Connor chose low-slung furniture to prevent obstructing the view, and chose contemporary designers such as Henredon, David Easton, Thomas O'Brien, Barbara Berry and Pa Larkin. He selected from Marshall Field's partner business BBT handmade Oriental rugs in a modern design, artwork from Look Gallery and bath accessories from Water Works.

O'Connor chose deeper hues of otherwise neutral wall colors, such as taupe, gray and off-white, to brighten the condo without being distracting.

"I wanted people to have the sense that 'this could be my home,' " he said of the model unit.

The Wabash model and the Coffous' condo are emblematic of the conversion to glass and a move away from concrete in Chicago residential high-rise architecture.

A key reason is Mayor Daley's efforts to keep the city as energy efficient as possible. The city Department of Construction and Permits started doing audits in March to ensure that buildings meet Chicago's energy code.

Buildings have more glass than ever before.

"The new energy code heightened the requirement for energy-efficient window walls, which must keep buildings warmer in winter and cooler in summer," said Bruce Armstrong, senior vice president of development for Golub & Co., which is building the Streeter at 345 E. Ohio.

"In the past, most exterior facades consisted of exposed concrete frames with punched windows. Glass is highly energy efficient; concrete is not. So to meet the energy code, developers are enlarging windows and covering the exposed concrete with insulated metal so energy doesn't escape."

Insulated glass technology has evolved with the renaissance of glass high-rises, as well as glass coated with glazes to reduce the need for artificial lighting.

Today's high-rises also have higher doors and ceilings than condo buildings built six years ago to create the effect of a larger living space, said developer McLean of MCL Companies.

"Glass buildings tend to have 8-foot and 10-foot [high] doors instead of old-fashioned 6-foot doors," he said. "And it's almost standard to have 9- and 10-foot ceilings rather than the 8-foot-high ceilings common prior to 2000."

The River East high-rises will be joined by even more development in the near future.

New development includes:

*MCL Companies has just broken ground on a 268-unit high-rise building, Park View Condominiums, at the corner of McClurg and Illinois at the old Kraft manufacturing plant site.

*LR Development CoLa. LLC will start marketing a 350-unit, 57-story condominium building at 515 N. Peshtigo Court between Grand and Illinois this summer.

*Two condominium towers of 38 and 48 stories are on tap at 600 N. Lake Shore, totaling 395 units.

*The Fordham Spire, a 2,000-foot-tall, corkscrew skyscraper that would be the nation's tallest building and, possibly, the world's tallest, is being proposed by developer Christopher Carley and world-renowned architect Santiago Calatrava at 420 E. North Water, opposite Navy Pier.

For the Coffous, the River View setting marks the first time in their family's history that home is downtown.

"Our kids are sixth-generation Chicagoans, and none of us had ever lived downtown," Jim Coffou said.

Coffou is pleasantly surprised that the building is teen-friendly, with indoor parking, a health club, swimming pool, outdoor deck and 24-hour security.

Even better for an environmentally conscious family, the utility bills are one-tenth that of their former house, a 5,100-square-foot mansion built in the early 1880s in what was known as Beer Baron Row.

"The downtown lifestyle is awesome. It doesn't get more convenient," he said.

*River View is composed of two buildings. The tower at 445 E. North Water is sold out.

The second tower at 415 E. North Water St. has 148 condos and 11 town houses. Prices range from $607,900 for a 1-bedroom-plus-den at 1,370 square feet, to $6 million for a customizable penthouse of more than 9,000 square feet. Town houses start at $1.69 million for 3,766 square feet and go up to $2.12 million at 4,573 square feet.

MCL Cos.' River View sales office is at 415 E. North Water St., (312) 527-2500.

sguy@suntimes.
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Old July 26th, 2006, 07:02 AM   #19
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Thought this shot was cool. You can see the cranes for 600, 550 and The Fairbanks. The Ville is really starting to fill out.

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Old July 27th, 2006, 08:02 PM   #20
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Quote:
Originally Posted by LA1
STREETERVILLE: CHICAGO AVE TO THE NORTH-OHIO TO THE SOUTH-LAKE MICHIGAN TO THE EAST: MICHIGAN TO THE WEST


150 E. Ontario. 50 Story Residential.

Does anybody know where this project stands? I walked by this site and one of the bars that occupy the exisiting building is closed. I wish this project wouldnt go through. I really like those short/old building that are currently there.

Also, I pray they do not demolish this site and then have the construction not go through
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