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Old January 17th, 2005, 06:11 PM   #41
BVictor1
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I sent an email last Friday, to Timothy Desmond, president of Central Station Development Corp., reguarding One Museum Park. I certainly didn't expect to gat a response from him. Below is that coorespondance.

THE INITIAL EMAIL

Dear Mr. Desmond,

My name is Butler Adams, and I am an architecture student here in
Chicago. I have been following the One Museum Park project since the first advertisment was placed in the Tribune several months ago. I was imediately drawn to this project because of its height and location. It will certainly be a new focal point in the Chicago skyline, no one ever thought that something so tall would ever be constructed south of Roosevelt Rd. I do have a few questions for you though.

I've just finished reading the Skyline newspaper that has an article
this week on the "South Wall" of Grant Park. There are several things in the paper that I found interesting including a quote by you ( Desmond said the costs for a 75-story building "were outrageous. The costs just "skyrocketed" as it got taller, and "the pricing in Chicago wouldn't support that kind of height."). I understand that as the building gets taller the prices rise, but don't you feel with this recent condo boom your building could support extra floors? i mean there are 2 residential buildings in Chicago planned for the 1,000' mark (Trump Tower Chicago & Waterview Tower). I visited the sales center this past Monday, and it was crazy there, people everywhere, interested in One Museum Park. Also, it's not often when you have community groups in support of a tall building. There were even reports in the paper that they'd like to see it taller. So would I.

I do like the design for One Museum Park, it's bold and tall. I
certainly hope that you and your partners decide to make it taller.

I hope that you have the time to answer a few questions.

Can you tell ne the exact height of One Museum Park? I've heard reports of 670' as well as 720'. Personally I like the 720' idea, and wouldn't mind if that was increased.

When is ground breaking scheduled?

I hope to hear back from you.

Butler V. Adams
Architecture Student

---------------------------------------------------------------------------------------
THE RESPONSE

Mr. Butler-

Thanks for your email regarding our OMP development. Our sales effort commenced last Monday and we had a phenominal day.

A bit of history may help you understand our thinking process. We originally proposed a 75 story building for this site. However, a building of such height yielded more units than we wanted to bring to the market, and forced us to go further below grade to provide the additional parking required. In addition, we found that the demands on the vertical transportation, mechanical and curtain wall systems were more than the price point of the product we were offering could support. The vertical transportation alone impact was huge, and it required dwell times that were not in keeping with the quality of what we offer.

In response to your questions, may I offer the following;

1) The approved height of the development is 720', which would permit a 65 story building. At present we are only anticipate a 62 story building.
2) We expect a fall 2005 groundbreaking.
3) Fortunatly, your email leads me to believe you're knowledgable about design, construction costs, timing, risk, financing, marketing and the host of other matters involved in bringing such a development to reality. That makes my response easy to frame.

The market research you've done on the other two buildings you noted most likely has revealed to you their profit margins and time challenges. You also understand the difference in the market those two are targeting and the one we are. As you know, construction prices skyrocketed over the last 18 months, especially steel and concrete. It is outrageous, and the market as a whole has long since passed the equilibrium point where such increased costs can simply be passed along to the consumer. As an example, I'm sure you're familiar with the rare use of pile foundations here in Chicago, but for a while steel was so much less expensive than concrete that it made sense to do so!! I'll bet you share my surprise at such an event, given the history of concret pricing in the mid-west. Now the price of both products fluctuates daily, and we routinely design dual systems and pull the trigget as late as we can. I trust you've kept up to date with the voracious demands of the asian market and what that has done to the spot futures market for construction commodities, so you understand the pressure that the combination of all of these factors does to the risk evaluation of any development.

Our decision to do a 62 story building versus a taller building was made in light of all of those factors. We're fully congizant of the two taller residential condo's projects you mentioned, but perhaps the question to ask is why there are only two of them?? If you look at the number of residential developments over 60 stories done in Chicago since 1990, you'd find very few. Part of that answer must also includes the expertise of any developer, and that's an important point to include in your evaluation process. It's the combination of market duration, costs, delivery schedule and experience that makes a building over 65 stories more challenging than normal. Don't misunderstand me, I'm not saying it can't be done, but I am saying it wasn't prudent for our business plan. Others have different hurdles to jump, and do so differently. Neither is right or wrong, it's just comes down to risk evaluation. That's what makes real estate so fun!!

We are very pleased with the community support that our development has gained, and are pleased with the quality of the architecture as well. Such a development is emblematic of the quality of developement we seek to do, and is among the reasons for the success to date of Central Station.

I hope this brief note has given you a glimpse of our thought process. Thanks for your interest and if you haven't done so, you should visit our sales office at 13th and Indiana. We have a marvelous model of the building and it is stunning. Best of luck to you in your studies, and don't hesistate to call should you have further questions.

B. Timothy Desmond, AIA
President, Central Station Development Corp.
---------------------------------------------------------------------------------------

I hope that information above was helpful. I still have my fingers crossed that the building will at least rise to it's 65-story approved height, but whatever happens, we still have a tall proposal south of Roosevelt Road.
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Old January 17th, 2005, 07:50 PM   #42
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^ Awesome response, Thanks for sharing it with us. As a layman, I always appreciate learning how the process works.
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Old January 17th, 2005, 08:01 PM   #43
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^Nice info grab. I think this is the longest reply you've ever gotten. I am growing to appreciate the Central Station developers more and more
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Old January 21st, 2005, 05:56 PM   #44
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The fact that this guy would bother to write such an insightful and thoughtful response just blows me away. I guess there are still decent people hanging around here and there

Great work as always bvic!
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Old February 18th, 2005, 10:36 AM   #45
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I was at the sales center on thursday (02/18/05), and I was told that construction would probably be starting sometime in September. At that time they will also be introducing 2 new buildings.

Presently One Museum Park is about 80% sold and remains 61 stories. I don't believe that there are any plans to increase the height.
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Old March 12th, 2005, 10:25 AM   #46
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I sent an email to the developers of One Museum Park at the beginning of the month about the height of the tower, and this was the response that I received today...

We have settled in on a 62 story building. We ran into a limitation on the elevator, parking and mechanical systems to go any higher.

You are welcome to contact my assistant Jane and set up an appointment to come visit us any your convenience. We'd love to help you where we can.

td



You best believe that I will be making that appointment to go there. Hopefully within the next couple of months.
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Old March 13th, 2005, 04:01 AM   #47
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Okay, I want to the One Museum Park sales center today to see if I could get some atraight answers, and I did. That straight answer didn't include an exact height, but I got the reason why there isn't an exact height yet.

-First of all, they had originall planned an 80-story building.

-As I mentioned yesterday, they have settled on a 62-story tower

-The resaon why there isn't an exact height yet is because they are still working out the design for the top of the building. The metal clad mechanical penthouse. I was told that they will be having several more meetings with the city as well as the architects. I was told that the city has been very supportive in the design process.

-The tower will probably end up in the 690' range. But as I said, nothing has been finalized yet. Things probably won't be set in stone for another couple of months. I didn't see the blue-prints or anything, the manager of the sales center told me this.

-I was also told that Mayor Dayley has been helping them with the permit approval process. Seeing as he also presently lives in Central Station. I was told that they've been put on the "Fast Track", when it comes to the permit approval process. So instead of having to wait possibly a year to year and a half, they more than likely will only have to wait 6 months.

-All of the towers that will be built along Roosevelt will have their own shape and character. I was told that the developers were told that they didn't want to have the mistakes on the north wall of Grant Park repeated on the south wall. Also they didn't want the mistakes of River North repeated. All of the towers along Roosevelt will be glassy.

-Another building will be introduced sometime this fall.

-Groundbreaking for One Museum Park hopefully will be sometime in September 2005.
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Old March 13th, 2005, 06:35 PM   #48
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Quote:
Originally Posted by BVictor1
I was told that the developers were told that they didn't want to have the mistakes on the north wall of Grant Park repeated on the south wall.
^Thanks for the info, BV.

But I am curious about this statement. What exact mistakes were they referring to?
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Old March 13th, 2005, 06:45 PM   #49
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One Outer Drive? This is all music to my ears BVictor... One Museum Park looks just amazing, and all thanks to the Planning Dept.
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Old March 13th, 2005, 07:30 PM   #50
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Quote:
Originally Posted by BVictor1
I was told that the developers were told that they didn't want to have the mistakes on the north wall of Grant Park repeated on the south wall. Also they didn't want the mistakes of River North repeated. All of the towers along Roosevelt will be glassy.
Wow. Awesome.
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Old March 14th, 2005, 03:46 PM   #51
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Quote:
Originally Posted by The Urban Politician
^Thanks for the info, BV.

But I am curious about this statement. What exact mistakes were they referring to?

I believe he was refering to the hodge-podge of structures. Personally, I somewhat agree. On the north wall some of the buildings set back from Randolph while others are flush. Some buildings look nice (340 OtP west to the Prudential Complex) while others are blah---(Outer Drive East, the Buckingham Plaza and The Doral).
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Old March 16th, 2005, 04:01 AM   #52
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What does the Doral have to do with any of this? I wouldn't really consider it part of the northern "bookend" to Grant Park because so little of its facade even faces south.
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Old March 16th, 2005, 08:25 AM   #53
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Quote:
Originally Posted by geoff_diamond
What does the Doral have to do with any of this? I wouldn't really consider it part of the northern "bookend" to Grant Park because so little of its facade even faces south.

That may be, but a sliver of it does. None of Prudential Plaza 2 is on Randolph, but it's in the mix.
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Old March 17th, 2005, 04:09 PM   #54
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But, 2 Pru might as well be on Randolph... it has far more of an effect from the park than does the Doral (which does a good job, thankfully, of blending its ugly face in with the surroundings).
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Old March 19th, 2005, 02:05 AM   #55
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This article is from this weeks edition of Skyline News March 16-17 2005.

Today's New Homes/Pioneer Press

One Museum Park sets record as fastest selling residential project in Chicago

After its January 23 grand opening, One Museum Park sold more than 80 percent of its units, making it the fastest selling residential development in Chicago. Developed by the Enterprise Companies, One Museum Park will be located at the edge of Grant Park, adjacent to Lake Michigan and Museum Campus.

IMPACT ON THE SKYLINE
Soaring 61 stories above Grant Park and Lake Michigan, One Museum Park will offer 277 luxurious condominium residences. Construction is slated to begin this fall with first occupancies expected by late 2007.

"Due to the impact One Museum will have on the Chicago skyline, it was imparative for us to create a truly elegant, landmark-quality building," said Ron Shipka, Jr., a principal of the Enterprise Companies.

"Another primary goal was to provide every resident with not only spectacular views of the city, but also the guarantee that they'll be unobstructed forever."

Priced from the $400s, one-bedroom plus den residences offer up to 1,002 square feet. Two-bedroom-plus-den units include two baths and range in size from 1,425 and 1,700 square feet. Pricing for these homes starts in the $600s.

Three-bedroom, three-bath units begin in the $800s and offer between 1,821 and 2,917 square feet of living space. Highlighting floors 57 through 61, five penthouses offer over 7,000 square feet of living space.

Priced from $4.5 million, the posibilities to customize these full-floor residences are endless. Though easily accommodating up to six bedrooms and 6.5 baths, buyers may choose to create a wine room, media and entertainment center, chef's kitchen or art gallery.

LUXURIOUS AMENITIES
Each home features oversized living/dining rooms, gourmet kitchens, sumptuous master bathrooms and floor-to-ceiling windows. With the assistance of One Museum's professional interior designers, every buyer has the opportunity to custonize their home, utilizing finishes of the highest quality including imported Italian marbles, furniture quality cabinetry and custom millwork. The "Design Center Showroom" offers endless opportunities for luxury, turning each person's vision into a reality.

One Museum Park will provide residents with numerous hotel-style amenities including a full-survice concierge office and 24-hour doorman on duty to assist residents and greet their guests.

ONE MUSEUM PARK CLUB
Situated on the fifth floor, the "club" offers something for everything. It features a heated indoor lap pool as well as a professionally equipped fitness center, which includes seperate men's and women's locker rooms and a sauna. Additionally, a multi-purpose room is ideal for a yoga or Pilates class.

On those beautiful summer days, residents can take a dip in the outdoor pool or relax and savor the views from the spacious sundeck. And for entertaining, the "Owner's Club" boasts gracious gathering spaces with an adjacent restaurant-quality kitchen-perfect for hosting just about any kind of celebration.

THE LAKEFRONT NEIGHBORHOOD
The homes themselves are simply one reason why Museum Park has become a desirable lakefront neighborhood. Outside the door, residents have access to some of the best Chicago has to offer.

Staps away lay the world-class institutions of Museum Campus or the flower gardens at Grant Park. Outdoor enthusiasts will enjoy the close proximity to the 20-mile lakefront path, perfect for jogging, biking or walking. Also, tennis courts and fields are three blocks away, and water lovers are only a short stroll to the beach.

"Being close to so much is what makes this a great neighborhood," shipka said. "Living at Museum Park presents you with an infinate variety of choices for recreation, shopping, supurb dining and entertainment. No other location offers so much."

For more information or to make an appointment, please call 312-363-0200 or visit the web site at www.onemuseumpark.com
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Old March 20th, 2005, 01:40 AM   #56
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Gee, Skyline News needs an editor!
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Old April 10th, 2005, 05:51 PM   #57
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This article was in the Sun Times today! Good news!
High-rise units by museums selling fast

April 10, 2005

BY BILL CUNNIFF Real Estate Reporter Advertisement








Sales are soaring at One Museum Park, a 61-story condominium development near Michigan and Museum Campus. The high-rise will have 277 units.

"Since our Jan. 23 grand opening, we have sold more than 80 percent of the homes," said Ron Shipka Jr., a principal of Enterprise Companies, the developer.

One-bedroom units, with dens, start in the $400,000s. Sizes range from 959 to 1,002 square feet.

Two-bedroom condos, with dens, are priced from the $600,000s. Sizes range from 1,425 to 1,700 square feet.

Three-bedroom units, with 3 baths, begin in the $800,000s. Sizes range from 1,821 to 2,917 square feet.

Penthouses, on floors 57 through 61, are priced from $4.5 million.

"Due to the impact One Museum will have on the Chicago skyline, it was imperative for us to create a truly elegant, landmark-quality building," Shipka said. "Another primary goal was to provide every resident with not only spectacular views of the city, but also the guarantee that they'll be unobstructed forever." Floor-to-ceiling windows are standard.

Building amenities include heated parking, a heated indoor lap pool and a fitness center.

Construction is slated to begin this fall. First occupancies are expected by late 2007.

One Museum Park is part of Central Station. In 1994, Central Station began with the construction of townhomes. Since then, this lakefront neighborhood has boomed with the building of more town houses, high-rise condominiums, apartments and retail stores.

One Museum Park, 1259 S. Indiana, Chicago. Enterprise Cos., (312) 362-0200.
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Old April 25th, 2005, 03:53 AM   #58
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I don't know if anyone has seen the rendering of One Museum Park in the Tribune, but to me it seems at if the crown of the building is much more pronounced. It seems taller than before and it also seems to have a bit more detail.

Is it just me, or has anyone else noticed this?
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Old April 25th, 2005, 05:32 AM   #59
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I didn't catch the rendering. Can you post it? I'll put together a comparison graphic if you do.
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Old April 27th, 2005, 02:43 AM   #60
BVictor1
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Here's the rendering that I was talking about. To me, it seems as if the crown has been refined and looks abit taller, or is it just me?

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