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Old May 2nd, 2005, 06:28 PM   #41
The Urban Politician
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Quote:
Originally Posted by ThirdCoast312
Oh ya TUP, just as you hope "i get banned soon", i hope someday you look at a map of chicago
^ Perhaps that was a bit harsh.

I'm sure actually living in Chicago affords you some advantage in knowing the location of everything, but then certainly that has never crossed your brilliant mind...
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Old May 2nd, 2005, 06:29 PM   #42
The Urban Politician
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Quote:
Originally Posted by BVictor1
Thanks dude!!

And you know what I just realized? I'm the one who started this damned thread, so I will post what ever the I feel like in it.

No, there's no news on this building. I will see if there is any information at city hall when I get a chance. I'm not sure if office towers need a planned development like residential towers do.

The most recent news is the choice of an architect. And seeing as this will be an office tower, i'm assuming it will break the 600' mark.
^Thanks, BV. Your posts are much more useful and insightful, and we enjoy reading them. You don't insult and annoy us, and don't be offended by the posts of people who do
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Old May 2nd, 2005, 06:30 PM   #43
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kool another office tower yeah.
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Old May 2nd, 2005, 06:31 PM   #44
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any pictures of it i would like to see some.
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Old May 3rd, 2005, 02:25 AM   #45
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Quote:
Originally Posted by The Urban Politician
^ Perhaps that was a bit harsh.

I'm sure actually living in Chicago affords you some advantage in knowing the location of everything, but then certainly that has never crossed your brilliant mind...
Oh and the fact that you hope i get banned soon isn't harsh????? in fact i'm offended by that comment by itself! maybe you yourself should get banned along with me for being offensive! haha TUP looks like you're not a level above me like you thought you were!!!
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Old May 3rd, 2005, 03:26 AM   #46
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Quote:
Originally Posted by ThirdCoast312
Oh and the fact that you hope i get banned soon isn't harsh????? in fact i'm offended by that comment by itself! maybe you yourself should get banned along with me for being offensive! haha TUP looks like you're not a level above me like you thought you were!!!
^Actually I was referring to my own comment (for you to get banned) when I said "that was too harsh". But considering the maturity that you have displayed, I recant it.

ThirdCoast, lets please move on. If you want to pick fights on this forum then just leave--we all have real lives here, this forum is to discuss skyscrapers without getting attacked by people--ie, you..
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Old May 3rd, 2005, 09:12 AM   #47
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Seriously Butler... rofl... you know you can pretty much do anything you'd like here And as far as ThirdCoast calling you a moron? I'm fairly certain that he didn't bother to look who posted the picture before he started slinging mud. I highly doubt he could have mistaken you for a moron (despite the occassional mispelling :P). Anyone who didn't realize that we were talking about two different projects needs to pay a little closer attention - it's not like it was difficult to figure out... Presidential Towers = not near the river.
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Old May 3rd, 2005, 02:41 PM   #48
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Quote:
Originally Posted by geoff_diamond
Seriously Butler... rofl... you know you can pretty much do anything you'd like here And as far as ThirdCoast calling you a moron? I'm fairly certain that he didn't bother to look who posted the picture before he started slinging mud. I highly doubt he could have mistaken you for a moron (despite the occassional mispelling :P). Anyone who didn't realize that we were talking about two different projects needs to pay a little closer attention - it's not like it was difficult to figure out... Presidential Towers = not near the river.
I not really concerned about it. I was pissed and annoyed for a few moments, but i'm all good. The next time I go to city hall, i'm going to see if office towers have to fill out planned developments. if they do, maybe they'll have a preliminary height figure.

Spelling huh
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Old May 3rd, 2005, 09:34 PM   #49
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I just wouldn't expect to see your name plastered across the bottom of ESPN8 during the next spelling bee *uhh... not that i watch those stupid things!
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Old May 4th, 2005, 12:35 AM   #50
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Quote:
despite the occassional mispelling :P
*cough* irony *cough*

"misspell" is one of the most frequently misspelled words in the English language

(followed closely by floccinaucinihilipilification)
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Mmm... forbidden donut...
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Old May 4th, 2005, 02:46 AM   #51
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*cough* the irony of the irony *cough*

you missed the joke sim misspell was misspelled intentionally
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Old May 4th, 2005, 06:13 AM   #52
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*cough* i'm a doofus *cough*
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Old May 4th, 2005, 08:15 AM   #53
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lol
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Old May 11th, 2005, 02:52 PM   #54
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Riverfront site's liable to reel in a big catch

May 11, 2005

BY DAVID ROEDER SUN-TIMES COLUMNIST



They can't help themselves. Chicago's law firms love to anchor new downtown office towers. The latest to be tempted is Kirkland & Ellis LLP.

The firm is close to signing as the anchor tenant for a new skyscraper at 300 N. LaSalle on the north bank of the Chicago River. Steve Stratton, managing principal of Staubach Co., said the firm is in advanced talks with the site's developer, Hines Interests LP. Stratton, who has represented Kirkland to several developers touting sites for new high-rises, said the firm is looking for about 600,000 square feet.

"It's getting close to being finalized, but it's not done yet,'' said Stratton, who guessed that a lease might be finished in anywhere from "30 days to six months.'' Another option is for the firm to retain its existing East Loop space, most of which is in the Aon Center. Wells Real Estate Investment Trust Inc. owns Aon and is trying hard to keep Kirkland.

"They've put about $50 million in electrical upgrades and elevator upgrades,'' said Douglas McLemore, executive director at Kirkland. "We think there's more to be done and that's where we are.'' He said the firm, the third largest in Chicago, is "in the final stages of analysis'' on its space situation.

Hines has hired noted architect Jon Pickard for the project, but has yet to say how much it wants to build.

The site currently has a parking garage. Stratton and Kirkland could move in 2009 or 2010.
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Old May 12th, 2005, 12:29 AM   #55
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I am so excited about this project. It will go a long way toward making the view corridor looking north on LaSalle as impressive as that looking south. Although, it never ceases to amaze me how much space some of these law firms require!
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Old May 12th, 2005, 08:20 AM   #56
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^ Yes, the space of some of these law firms far exceeds much larger companies. I suppose every partner requires a large office?!?
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Old June 10th, 2005, 01:50 PM   #57
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Kirkland firm joins flight to new towers
Lawyers shaking up downtown market

By Thomas A. Corfman
Tribune staff reporter
Published June 10, 2005

In a move sure to shake up the downtown office market, Kirkland & Ellis LLP has signed a tentative agreement to anchor a skyscraper proposed by Hines Real Estate Interests LP for a site along the Chicago River at LaSalle Street.

The 1,000-lawyer firm has signed a non-binding letter of intent to lease 600,000 square feet in the tower, to be completed in 2009, confirmed Douglas McLemore, administrator of the firm, which is being advised by real estate firm Staubach Co.

The new tower, with an address of 300 N. LaSalle St., will have at least 1.1 million square feet of space, said Gregory Van Schaack, a senior vice president in Hines' Chicago office. A deal with Hines had been expected since late February, when Kirkland began talks with developers.

Kirkland would be the third big law firm to move to a new high-rise, joining rivals Mayer, Brown, Rowe & Maw LLP and Sidley Austin Brown & Wood LLP.

Kirkland expects the 55-story tower, to be designed by architect Jon Pickard of New Haven, Conn.-based Pickard Chilton Architects Inc., to give the firm renewed prominence.

"We talk about taking the architectural tour down the river and it be pointed out that it's a noteworthy building that houses Kirkland & Ellis," McLemore said.

The deal, one of the largest leases in the city's history, reflects several trends in the downtown market, including the strong growth of law firms and the magnetic attraction that new office towers seemingly have for tenants.

Kirkland would move from Aon Center, its home since 1972, becoming the latest big-name tenant to migrate westward from an area that was once a premier office location.

"The East Loop is always the poster child of market abuse," said Richard Schuham, executive vice president with tenant representative firm Studley Inc., which isn't involved in the deal.

Kirkland is the second-largest tenant in Aon Center, 200 E. Randolph St., with about 450,000 square feet of space

Aon Center's owner, Wells Real Estate Funds, held out some hope that talks with Kirkland might resume, noting that most of the firm's space in the prominent 80-story tower is under lease until 2011.

"If it doesn't work out, given the lead time and the fact that it is the Aon Center, we are certainly optimistic about our ability to re-lease that space at appropriate terms," said Richard Matthews, a spokesman for the suburban Atlanta real estate firm.

Ironically, the former Amoco Building was renamed Aon Center in 1999 after the Chicago-based insurance firm moved to the building from Wacker Drive, a rare instance of a high-profile tenant moving eastward.

But in recent years many tenants have taken advantage of new office towers that are closer to the commuter train stations and expressways. Mayer Brown, for example, is moving from 190 S. LaSalle St. to Hyatt Center at 71 S. Wacker Drive later this year.

Yet Kirkland isn't moving as far west as some others, such as Deloitte & Touche LLP, which this year is moving to 111 S. Wacker Drive, where it will be the lead tenant in a 51-story skyscraper developed by Chicago-based John Buck Co. The accounting giant is moving its main Chicago office from Two Prudential Plaza, 180 N. Stetson Ave., which was built during the last building boom in the 1980s.

Kirkland also has about 100,000 square feet of space in the nearby One Prudential Plaza, 130 E. Randolph St.

The opportunity to consolidate offices into a single building was an important factor in Kirkland's decision, but the move won't come cheap.

At the new tower, sources said, Kirkland will nearly double its net rent, which in 2003 was $13.67 a square foot for most of its space, according to Wells.

McLemore declined comment on the lease terms, but noted that net rent is only one of several cost factors.

Operating expenses will be substantially lower in the new building, McLemore said. They are about $8.65 a square foot in Aon Center, according to an estimate by real estate research firm CoStar Group.

Because of the expected growth in the size of the firm, Kirkland thinks it would need about 750,000 square feet by 2009 if it stayed put. It expects to reduce that amount by about 25 percent at 300 N. LaSalle St. through several factors, including more efficient design and slightly smaller lawyers' offices. And those savings will multiply if Kirkland expands. The firm has an option to increase its space by 300,000 square feet.

In the new tower the floors will average about 26,000 square feet, said Hines' Van Schaack. Kirkland's space will probably be located below the 38th floor, leaving the top floors, which typically command higher rents, still to lease.

The new tower would be the third Chicago office building that Houston-based Hines has developed with a law firm anchor tenant. The others are 191 N. Wacker Drive., completed in 2002 and anchored by Gardner Carton & Douglas, and 1 S. Dearborn St., to be completed later this year and anchored by Sidley Austin.

"We've been able to show Kirkland what we've done for others," Van Schaack said.

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Old June 10th, 2005, 07:44 PM   #58
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This is great news. I'm really geeked about this project - I've hated that parking structure for years!
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Old June 11th, 2005, 12:52 AM   #59
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Quote:
Originally Posted by geoff_diamond
This is great news. I'm really geeked about this project - I've hated that parking structure for years!
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Old June 11th, 2005, 02:12 AM   #60
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This proposal is just the latest that have been planned for this location. . . in fact we added it in Emporis back in 2001. . . it's really no surprise that the site has been underutilized for so long but it would be good to finally see something being built. . .
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