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Old August 3rd, 2005, 03:29 AM   #181
BVictor1
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[img]http://www.**************/NHNew/Columnists/GailGraphic.jpg[/img]
Downtown's record building matched
by record buying in 1st quarter of '05


If 2004 was a big year for new housing in downtown Chicago – and hefty sales figures and ubiquitous construction cranes leave little doubt – 2005 has the potential to be even bigger.


According to the latest Downtown Chicago Residential Benchmark Report by Appraisal Research Counselors, developers are contemplating the addition of up to 10,000 new housing units – both for sale and for rent – to the downtown market.


It’s likely that the actual number of new homes announced during 2005 will be closer to 8,000 units, but that’s still substantially more than the 6,000-plus units introduced during 2004.


And 2004 was a record-breaking year for new construction, with developers writing contracts for 6,300 housing units – 83.5 percent more than during 2003.


To put these numbers in perspective, consider this: from 1990 through 2004, an average of around 2,867 units a year were put on the market or delivered in downtown Chicago, according to an analysis by Appraisal Research Counselors.


The obvious question in the midst of such a building boom: are there enough buyers to go around?


The answer so far, is positive. During the first quarter of 2005 alone, we reported more than 2,500 sales (contracts and reservations) in our quarterly Downtown Chicago Residential Benchmark Report. This represents an 80 percent increase over the first quarter of 2004 and a 50 percent increase over the record level set in the first quarter of 2000.


Unprecedented building is being matched by unprecedented buying. In fact, of the units currently marketed by developers in completed downtown buildings, only 273 are unsold. The remainder of the 3,643 available condos that Appraisal Research Counselors has identified include 1,589 units in buildings that will be completed between sometime in 2005 and 2008, along with 1,781 units in buildings with pre-sales programs that have not yet broken ground.


Homebuyers now have a dizzying array of choices when it comes to downtown condominium developments, including a growing number of apartment buildings converting to condominum ownership.


The conversion trend really heated up during 2005, which could become the most active year for condo conversions since the early 1980s. Four major downtown highrise conversions totalling 1,360 units started marketing programs during the first quarter, and several others announced or began sales programs in April and May.


The demand for converted condo units remains high among buyers, as these buildings often have excellent locations and lower prices because of their smaller unit sizes. Their mix of units – often weighted towards studios and one-bedrooms – fills a niche that’s underserved by new construction.


The condo is king downtown, where so far in 2005, developers have not unveiled any new loft / adaptive reuse or townhouse projects.


Who is buying all of these condos?


Suburbanites, attracted to downtown living and potential appreciation, are a growing share of the market. Some are buying condos as primary residences and some simply want in-towns for use on weekends and after long workdays at Loop offices. Others are purchasing units as investments. This is different from a few years ago, when first-time and move-up buyers dominated the market.


As you might expect given this market shift, condo prices continue to rise, with less focus on entry-level product and more on homes for affluent buyers. Given current land and construction costs, developers aiming for price-sensitive buyers (purchasing homes priced at $250 per square foot and less) can’t afford to build downtown. Look for these homes in other submarkets on the periphery of the official downtown market area.


The high-end market is growing south of the Chicago River too, where $500-per-square-foot luxury housing is now firmly established. Formerly entrenched in the Gold Coast and the River North / Cathedral District area, the upscale condo market has forded the river, spurred on by the development of Millennium Park.


Buyer demand is generating premium prices for properties located along the perimeter of Grant and Millennium parks, from Randolph south along Michigan Avenue to Roosevelt. In particular, the South Loop broke the $500-per-square-foot barrier during the first quarter with One Museum Park, by the Enterprise Companies. This project alone has generated a huge share of luxury market sales for the quarter


Though sales have been brisk, this surge of downtown development will mean greater competition among developers, which can be a positive for buyers. Significant risks to the housing boom exist – competition between resales and developer units, the effect of speculators and the lack of area job growth – but 2005 is already shaping up to be a record year.


Gail Lissner is co-author of Appraisal Research Counselors’ quarterly Downtown Chicago Residential Benchmark Report, an in-depth analysis of the downtown Chicago housing market, focused on the area between North (1600 N.), Cermak (2200 S.), the lake and Ashland (1600 W.) The report tracks development activity and helps people investing in residential real estate make informed decisions. www.AppraisalResearch.com.
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Old August 3rd, 2005, 04:02 AM   #182
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On the rise
Something good is happening
to highrise design in Chicago


It must be tall, every inch of it tall. The force and power of altitude must be in it, the glory and pride of exaltation must be in it. It must be every inch a proud and soaring thing, rising in sheer exaltation that from bottom to top it is a unit without a single dissenting line, that it is the new, the unexpected, the eloquent peroration of most bald, most sinister, most forbidding conditions.
—Louis Sullivan


by Barry Pearce

What would Louis Sullivan, one of the world’s greatest architects and the genius behind many of Chicago’s greatest buildings, think of the city’s skyline today? Given his quote above and his quest for an original American architecture, to say that many of our newest tall buildings would disappoint is probably gross understatement.
[img]http://www.**************/NHNew/Features/HighriseGuide_August2005/OneMuseumPark.jpg[/img]
Chicago was kind to major developers during the 1990s, but they were not inclined to return the favor. Dozens of new highrises have sprouted in neighborhoods ranging from the South Loop to the Gold Coast, and most of them, we regret, have not been proud or soaring. They were things all right, we’ll give them that, but adjectives other than Sullivan’s spring to mind: banal, beige, bland, boring.


To be fair, developers are in business to make money, not to advance the culture, and in the frenzied real estate market of the ‘90s, there was no shortage of buyers willing to sink ever-steeper amounts of cash into even the ugliest buildings. Why should we expect developers to deviate from a formula – and formula is the word – that works so well?


Perhaps the better question today, thankfully, is why have they?


If Sullivan would be disappointed by recent buildings, he might be pleased, even thrilled by much of what’s on the drawing board. Developers have shifted gears, and the residential highrises now breaking ground include many fresh designs, even a couple of gems with a chance to make it into the pantheon of iconic buildings we think of as defining the city, the buildings tourists remember and residents pause to consider year after year.


Two of the city’s biggest planned developments – Central Station in the South Loop and, across Grant and Millennium parks, Lakeshore East – deserve special mention, partly because they are large communities in prominent locations and partly because the progressive look of their latest designs is such a pleasant surprise.

In their River North developments, Magellan Development Group and NNP Residential & Development paid attention to amenities, finishes, locations and views, but architecture seemed little more than an afterthought. In their massive Lakeshore East community, however, the highrises have been interesting, with progressive designs, variety and integrity. The Lancaster, designed by Loewenberg & Associates, features a sheer glass face that will play nicely off of surrounding buildings and the community’s central park. DeStefano & Partners’ design for the Chandler will feature a glass-heavy façade gracefully beveled in a segmented design that breaks up the building’s scale. Next door, DeStefano’s Regatta will respond beautifully to its riverfront site, with an elliptical glass curtain wall that presents a curve as bold and elegant as a full sail to the river.


Directly south, in Central Station, the Enterprise Companies has turned away from the style, or lack of style, displayed in its first Museum Park buildings. Pappageorge Haymes designed the new 23-story Museum Park Place with a wall of glass, exposed steel, bold diagonal lines and postmodern accents. The architect followed this with the 61-story One Museum Park, a tower that curves and unfolds with the grace of a flower and in which form follows function to a degree approaching brilliance. Sullivan might well have been a fan.


Why this shift to a more progressive vision in some of the latest highrises? Part of the answer probably has to do with the building boom of the last decade, at its hottest downtown.


In the late ‘90s, housing analyst Tracy Cross said that the city had not seen such a construction craze since the Great Chicago Fire. Unfortunately, the comparison was apt in more ways than one. After the fire, Chicago architects, it was said, measured their work in miles of building fronts. The 1990s saw the same emphasis on quantity in residential construction, and we will have to live with the results for decades to come.
[img]http://www.**************/NHNew/Features/HighriseGuide_August2005/Regatta.jpg[/img]
As the many residential buildings designed and sold in the ‘90s were completed, there rose a small but vocal reaction against the bland retro buildings transforming our cityscape. Local media began to run stories decrying shoddy design and in 2003, even Mayor Richard M. Daley, whose personal taste seems to lean much more towards 19th century Paris than 21st century Chicago, chimed in with a call for no more ugly buildings (never mind that his administration had overseen and subsidized the development of so many).


At the same time, Chicago was building a small track record for progressive residential design. Developers like CMK Development and Smithfield Properties won praise for their consistently forward-looking buildings, and they had no trouble selling condos. They’re still at it. The new crop of highrises includes Smithfield’s 30 W. Oak, which celebrates its skeleton in a way that tastefully evokes the Chicago School, and Modern Momentum, another Smithfield building with a dramatic four-story center cutout that will keep passersby talking on State Street.


Helmut Jahn, whose cutting-edge work seems to be appreciated everywhere but Chicago, is back on the local scene, following up his Illinois Institute of Technology project with the planned 600 N. Fairbanks, a sleek glass tower that audaciously leans over a neighboring building and in some ways, seems a response to the awkward pedestals on which so many recent Chicago highrises have been perched.


Of course, the developers of 600 N. Fairbanks are touting Jahn’s name as they promote the project, and if his star power entices buyers who are more concerned with cachet than aesthetics, so much the better. Likewise, it doesn’t matter whether or not Chicago developers have seen the light of good design, or herd mentality intact, are simply being jostled up a new hill. The important thing is the shape of our built environment, and judging by the new towers, we’ve shifted, at least slightly, in the right direction.
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Old August 5th, 2005, 12:44 AM   #183
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August 04, 2005
www.chicagobusiness.com


Wacker Drive rehab gets funding


(AP) - The planned renovation of a one-mile stretch of Upper and Lower Wacker Drive in the heart of Chicago took a major step forward Thursday when officials announced that $25 million in federal funds had been secured for the project.
The north-south section of the roughly L-shaped roadway needs "dramatic improvement for safety purposes," said Sen. Dick Durbin, who announced the funding alongside fellow Democratic Sen. Barack Obama, Chicago Mayor Richard Daley and other officials.

None of the officials could say where the rest of the money for the $280 million project would come from, but they were uniformly confident city, state and federal sources could be found.
"We've done it in the past, we will do it again here," said Daley, referring to the $200 million project to renovate the east-west portion of Wacker Drive that was completed in late 2002.

Some 60,000 vehicles and hundreds of thousands of pedestrians use Wacker Drive each weekday. The double-decker drive's lower level was featured in car chase scenes in "Batman Begins" and "The Blues Brothers."

Illinois Transportation Secretary Tim Martin said that while he could not say what the state's share of the reconstruction project would be, it would go forward.

"It pretty much has to get done because it's some 50 years old and on its last legs," he said after the news conference.

Daley said he hoped the project would break ground in 2007 or 2008. When it does, the project would likely proceed in much the same way as the first phase of the project, which took nearly two years to complete, said Denise Casalino, the city's planning and development commissioner.

That means portions of Upper and Lower Wacker Drive would be closed during reconstruction and reopened when work is finished. One major change, though, is that because so many people who take commuter trains to the city cross the affected section of Wacker Drive on their way to and from the Loop, more temporary pedestrian bridges will be built.

"We have to maintain that commuter traffic," Casalino said.




Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast or redistributed.
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Old August 5th, 2005, 03:00 AM   #184
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I would expect this project to be simpler to complete than the east/west portion because there are no bridges involved.
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Old August 5th, 2005, 02:17 PM   #185
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Streeterville style

August 5, 2005

BY LARRY FINLEY Real Estate Reporter



The time is right for Streeterville.

A dozen or more new condominium high-rises are under way or will begin next year, adding about 3,500 moderate- to high-priced residences to the market there, according to Gail Lissner, vice president of Appraisal Research Counselors Ltd.

Streeterville has a lot to offer -- large pieces of land close to Michigan Avenue and surrounded by Lake Michigan and the Chicago River. It's got shops, restaurants, theaters, museums, beaches and even a Ferris wheel. So why now?

"It's been overlooked, and suddenly it's all coming together," she said. "There hasn't been a lot of development there in the last 15 years. And now it just so happens that it is all being clustered in one year. Michigan Avenue has become increasingly desirable as a place to be near. What better place to be than Streeterville?"

Building might have been put off there because some developers were uncertain of the market and how many new condominiums Downtown could handle, she said.

"I think that the sites were big, and early in this market developers were looking for smaller projects," she said. "Developers were concerned about absorption and most of the projects were smaller."

The area will have a sufficient variety of units and prices to attract more of the "middle market" than the nearby Gold Coast, on the other side of Michigan Avenue, she said.

"The buyer profile continues to be a mix, which is what gives strength to the market," Lissner said. "It's people who are coming back from the suburbs, whether for permanent or part-time residency. It's trade-up buyers. It's first-time buyers. And there is speculating going on. We also are seeing a lot more people from out of town coming in and keeping part-time homes here."

The Northwestern University and hospital complex at the north end of Streeterville has brought a steady market of staff, students and interns, she said.

"There are many more sites left," she said. "It's been reported the CBS-TV site [630 N. McClurg Court] will be redeveloped. LR Development has another site they haven't developed yet at Lake Shore Drive and Grand. There are a number of sites throughout the area that are potentials. But we don't see them happening this year."

The proposed 115-story Fordham Spire, at Lake Shore Drive and the north bank of the Chicago River, should not have an impact on the market any time soon, she said. The builder, Fordham Co., must get city approval and then it would take several years to build, she said.

But projects such as Centrum Properties' 3-tower CityFront Plaza "can bring up the number of condominiums in Streeterville pretty fast," Lissner said.

Centrum partner John McLinden said the first building, the Fairbanks, will have 281 condominiums out of the total 900 expected for the entire trio of towers. The site is the entire block bounded by St. Clair Street, Illinois Street, Columbus Drive and Grand Avenue, he said.

"The time for the neighborhood finally came, and a lot of people were thinking the same thing," he said. "A lot of the projects over there are big projects because the city zoning allows it. It's not like building just a few town homes."

Early preconstruction sales have been strong, he said, and include a high number of suburbanites buying a city place, and empty nesters who own second homes outside of the area.

"Even though there are a lot of sales going on over there, everyone seems to be doing well," he said.

Fairbanks prices begin in the mid $300,000s for a 1-bedroom to more than $2 million for the largest penthouse. Sizes range from about 875 to 1,920 square feet.

Standards include floor-to-ceiling windows, kitchens with granite countertops, stainless steel appliances, marble-tiled master baths, recessed lighting fixtures and a pre-wired media center.

The building will have 24-hour doormen, concierge services, indoor parking, outdoor pool, fitness center, steam room, locker rooms, clubroom, business center, theater, media room and bar area, as well as beautifully landscaped gardens, McLinden said.

Construction is scheduled to begin by the end of the year, with the first deliveries in 2007, he said. The sales center is at 240 E. Illinois, (312) 923-9990, or visit www.CityFrontPlaza.com.

The @properties real estate company has had so much business in the Streeterville and Gold Coast areas that it will open an office there, at 212 E. Ohio, later this year, according to co-founder Thaddeus Wong.

"The number of people we have who are looking for housing is astronomical, especially new construction," he said.

The initial spurt of residential housing in the 1990s caused a growth in restaurants, businesses and other services, which made the current growth more attractive, he said.

"You have a movie theater," he said. "You have a Dominick's [Finer Foods] opening. You have Fox & Obel [food market]. You have the retail and commercial that it was lacking. At the same time, it borders Michigan Avenue. You walk directly west and you are at Nordstrom's. Walk to the east, you are at the beach and Navy Pier."

Favorable zoning for larger buildings has made construction more profitable there, he said.

"Streeterville still has many spots available for construction," he said. "The density allows for a much larger number of units, which allows for 1 bedrooms and 2 bedrooms. That is more affordable to more people. It's still expensive, but it is more affordable. The Gold Coast has been heavily developed for a century. So, the opportunities for new housing are scarce. Most of the new housing that is going up is high end. It's exclusive."

The people who are buying in Streeterville want "luxuries and amenities" for their money, Wong said. They want 9- or 10-foot ceilings, lots of windows, a concierge service, 24-hour doormen and a party room, he said.

"All of the buyers are purchasing a parking space," he said "If they don't have a car, they still purchase a parking space, because everybody knows Chicago is still a driving city. When you have a condominium without parking it is in much less demand at resale than that same condominium with parking."

"A number of parents are buying homes for their kids, whether they are students or graduates from college," Wong said. "With the real estate appreciation that everyone has experienced, they all want to be owners rather than renters."

The @properties information number is (312) 254-0200 or www.atproperties.com.

The recently announced 550 St. Clair sold 59 of its 112 condominiums the first weekend it opened and is now close to 70 percent sold, according to Mark Sutherland, principal of Sutherland Pearsall, the developer.

"It hasn't been one particular type of unit, either," he said. "It's been across the board from our studios to the 1-, 2- and 3-bedrooms to the penthouses."

All sizes are available, he said, from the studios, starting at $270,000 to the penthouses from $1.1 million and $1.6 million.

A buyer survey found that 20 percent are from out-of-state, 25 percent are from the suburbs and the rest from the city, he said.

"Quite a few have homes in Florida and are buying these as a summer home to get away from the south," Sutherland added.

Interiors and appliances will all be premium quality, he said, including granite countertops, marble or slate floors and stainless-steel appliances.

Other amenities include floor-to-ceiling windows, 10-foot to 11-foot ceilings, Brazilian cherry or maple flooring, solid core doors and wiring for telephone, satellite TV and high-speed Internet.

Part of the early sales success, he said, has been because of the response to the sales center at 201 E. Ohio, which includes two fully decorated models -- a studio and a 3-bedroom, with lighted city panoramas as a backdrop.

Call (312) 222-0550 or visit www.550StClair.com.

To the east, 600 N. Fairbanks will be a 41-story high-rise with 224 condominiums designed by the internationally known architect Helmut Jahn for Urban R2 Development LLC.

Jahn said he would bring European influences to the building design. It is Jahn's first project in the downtown area since his 120 N. La Salle office building was completed in 1991.

"Europe has encouraged innovation in technology and materials," Jahn said. "The expectations for living accommodations are higher in Europe in such areas as fresh air, light and visual privacy."

Prices will start at $330,000 for a 1-bedroom unit with 850 to 925 square feet of space and 1-1/2 baths. The largest offerings are the 3-bedroom penthouses on the four top floors, which have 3,000 square feet and 12- to 14-foot ceilings. Prices range from $1.6 million to $1.9 million.

Company President Gary Rosenberg said that "to meet the desires of a market looking for high-quality living, we created, as our standard, what is offered as upgrades for others."

This includes premium appliances, hardwood flooring, exposed concrete walls and ceilings, individual heating and cooling, solid core doors, chrome plumbing and hardware fixtures and floor-to-ceiling windows.

All units will have inset balconies, he said, "which is a nice feature because it provides a semi-protected area. In many locations, it gets windy and people don't get to use them as much as they expected."

Building amenities will include a glass lobby, conference/media room, green-roof terrace, fitness center, lap pool, sun-deck, home theater, business facilities, 24-hour doormen and two dog runs on the 13th floor. Eleven floors of the high-rise will be designated for parking and mechanicals, he added. For more information, call Koenig & Strey at (312) 951-0807.

Some of the last pieces of Streeterville's lakefront will be filled by 600 N. Lake Shore Drive, a two-building set of high-rises being built by the Belgravia Group and Sandz Development, which also built 530 N. Lake Shore.

There will be a total of about 400 units in a 40-story tower and a 46-story companion. Prices start in the high $300,000s for a 1-bedroom unit with about 1,000 square feet and 1-1/2 baths. There are also 2- and 3-bedroom units with 2 to 3-1/2 baths.

The north building is being constructed first, and will be about 60 feet from the south tower to help improve the views. The buildings will be set back on their sites to help reduce shadows on the nearby beach.

Standard features include: stainless steel appliances, granite countertops, marble master baths, separate tubs and showers, laundry appliances, oak flooring or carpeting, walk-in closets, balconies and individual heating and cooling.

The building features a rooftop sun-deck and garden, fitness center, community rooms with kitchens, dry cleaners, individual storage, bicycle room, indoor parking, 24-hour doormen and concierge services. For more information, call (312) 832-0060.

MCL Companies continues to grow its big River East neighborhood with three sections and room for two more on the south end of Streeterville.

The 47-story ParkView condominium, at McClurg and Illinois, has 1-, 2- and 3-bedroom units starting at $425,900. They feature hardwood floors, walk-in closets, granite countertops, stainless steel appliances, contemporary baths, whirlpool tubs and private balconies.

The building includes indoor parking, fitness center, outdoor pool, theater room, entertainment suites, individual storage, bicycle room, dry cleaners, 24-hour doormen and on-site management. Call (312) 836-4200 or visit www.mclcompanies.com.

At 150 E. Ontario, a 51-story condominium building is planned for the current properties at 148-152 E. Ontario, just east of Michigan Avenue.

The 160-unit development will feature retail space on the first three levels, as well as parking for 180 cars, according to Monaco Development, now waiting for final approval from the city.

At 222 E. Pearson, Vilas Development Corp. recently purchased a 213-unit apartment building and is planning to convert it to condominiums this autumn. The high-rise building was built in 1963. For more information, call (630) 986-2434.
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Old August 7th, 2005, 02:17 PM   #186
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CITY REPORT
Condos to rise on Gold Coast parking lot

41-story tower set for Streeterville

By Jeanette Almada
Special to the Tribune
Published August 7, 2005

A $100 million, 41-story tower will go up on the site of a parking lot in the Streeterville neighborhood, adding another 227 condos to a substantial number of residential units planned or under construction in the area.

The 600 N. Fairbanks LLC will build the tower on a .66-acre site at 250 E. Ohio St. and 610 N. Fairbanks Ct.

That limited liability corporation consists of Chicago-based Urban R2, a residential developer, and Schatz Properties, a family-owned business that has developed other projects in Streeterville. It also owns the building that in the 1930s was the Chez Paree Supper Club, north of the development site.

The project was approved as a planned development July 21 by the Plan Commission. City Council approval is still needed.

The developer has owned the land for a year, said Gary Rosenberg, CEO of Urban R2, in an interview last week. The developer bought the property for a private owner.

"One reason building has not happened on the lot is because it was the site of a former gas station and had to be cleaned," Rosenberg said, adding that work is complete.

Residential units in the 600 N. Fairbanks Tower, designed by Helmut Jahn of Chicago-based Murphy Jahn Architects, will be on floors 13 through 40, Rosenberg said.

The one-, two-, three-bedroom and penthouse condos will range from 820 square feet to more than 3,150 square feet, Geoffrey Ruttenberg, co-chair of Urban R2, said in a phone interview last week.

"Floors 14 though 36 will each have nine units--five one-bedroom units with 820 to 926 square feet of space; three two-bedroom units with 1,085 to 1,258 square feet of space; and one three-bedroom unit with 1,750 square feet of space," Ruttenberg said. Penthouses on the 37th through 40th floors will consist of two-bedroom units with 1,550 square feet and three-bedroom units with 3,000 to 3,150 square feet, according to Ruttenberg. "We have some flexibility concerning those larger penthouse units, so that we can customize to accommodate buyers who are looking for a four-bedroom unit," Ruttenberg said.

Prices will range from $325,000 to $2.2 million.

Parking for 210 cars will be built on the second through 12th floors, Rosenberg said. A fitness room, party room and landscaped outdoor area will be built on the 41st floor. Aside from a lobby and mail room, the ground floor will have a conference room for residents, according to Rosenberg.

The developer will contribute $580,880 to the Chicago Department of Housing's Affordable Housing Opportunity Fund, which the city uses to subsidize the cost of affordable housing construction, Planning Department staff told commissioners.

Urban R2 began marketing the units from its office at 1246 W. George St. in July It has a list of 750 interested buyers, according to Ruttenberg. Pending receipt of a building permit, Rosenberg expects to begin construction in early 2006 and to deliver the first units in late 2007.
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Old August 7th, 2005, 08:52 PM   #187
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How tall was the Scholl building anyhow?

From New Homes Magazine:

August 5, 2005
Horizontal emphasis marks 30 W. Oak design
About 75 percent of the units have been sold at 30 W. Oak, according to developer Smithfield Properties. The highrise came online in early 2004, but a sales center on site was closed when construction began.


The tower is well underway at the corner of Dearborn and Oak on the former site of the Scholl College of Podiatric Medicine, in the Gold Coast.


Developer William Smith, of Smithfield Properties, is a fan of contemporary architecture, and his recent collaboration with architects Booth Hansen has been especially productive.


The new 30 W. Oak development is in one way, a direct heir of the Chicago School, with the building’s skeleton proudly displayed in the deign by Booth Hansen. But the emphasis here is insistently horizontal despite the tower’s 24-story height, and there is no distinguishable base or cap. This highrise is simply of a piece, an effect that’s accentuated by a curvilinear façade.


“It’s not a contextual building in that it doesn’t look like the buildings around it,” said Charlie Stetson, principal at Booth Hansen. But, Stetson explained, “It interacts very well with the location based on the fact that the south part of the building is curved and opens up views to the south…The idea was to maximize glass on the south side.”


The main living areas in most of the units are located on building’s south side, and bedrooms and closets are on the north ends of the units. The condos have two to four bedrooms and 2.5 to 4.5 baths. Units feature granite countertops, Sub-Zero refrigerators, marble-tiled baths with marble counters, frameless glass shower doors, Grohe faucets, eight-foot solid-core doors, Baldwin hardware, floor-to-ceiling windows and Castec shades. Prices for the condos ranged from the $630s to $3 million in July.


The building has 24-hour door staff, 10-foot ceiling heights, a fitness facility, storage rooms, bike storage and a year-round heating and cooling system. Spaces in the heated indoor garage are priced from $50,000 to $85,000.


Most of 30 W. Oak has only two units per floor. Large 18-by-24-foot terraces provide what are essentially added rooms outside the homes, Stetson said. The terraces jut out on the east and west sides of the building and are surrounded by glass railings. The east side of the building offers a view directly down Oak Street to Oak Street Beach.


First occupancy scheduled for late summer 2006.
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Old August 7th, 2005, 10:54 PM   #188
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With regard to 30 West Oak, What is it with that bare-bones model? If I were a potential buyer, that would simply not do. For a project with homes starting essentially at around $700K, if you include one parking spot, they should be able to produce one freakin' rendering.
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Old August 8th, 2005, 01:59 PM   #189
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INSIDE INFORMATION
NEW CONSTRUCTION


Published August 8, 2005

The following construction projects are coming up for bid. Listings include project city, name of project, address, description, start date and project value. Complete bidding details and contact information can be found at BidClerk.com.

COOK COUNTY

Chicago--Pacific Garden Mission, 14th Place and Canal Street, 50,000-square-foot community center, July 2006, $5 million.

Chicago--Fordham Spire, 400 E. North Water St., 115-story residential tower, March 2006, $300 million

Chicago--Burnham Pointe, 720 S. Clark St., 386,500-square-foot mixed-use development, February 2006, $30 million.
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Old August 8th, 2005, 04:28 PM   #190
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Quote:
Originally Posted by BVictor1
INSIDE INFORMATION
NEW CONSTRUCTION


Published August 8, 2005

The following construction projects are coming up for bid. Listings include project city, name of project, address, description, start date and project value. Complete bidding details and contact information can be found at BidClerk.com.

COOK COUNTY

Chicago--Pacific Garden Mission, 14th Place and Canal Street, 50,000-square-foot community center, July 2006, $5 million.

Chicago--Fordham Spire, 400 E. North Water St., 115-story residential tower, March 2006, $300 million

Chicago--Burnham Pointe, 720 S. Clark St., 386,500-square-foot mixed-use development, February 2006, $30 million.
Fordham Spire is up for bid? Is it standard practice to advertise bids for a project that isn't even approved?
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Old August 8th, 2005, 05:26 PM   #191
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Developers eye condos, hotels for Near North

August 8, 2005

BY DAVID ROEDER AND FRAN SPIELMAN Staff Reporters

Encouraged by strong demand for housing and hotel rooms, Chicago developers are pushing ahead with plans for three new high-rises on the Near North Side.

Two of the buildings are condominiums, and one calls for a hotel, according to the developers' zoning applications.

The largest is a 37-story building proposed for 535 N. St. Clair. The developer, Mark Sutherland, principal of Sutherland Pearsall Development Corp., said the building will capitalize on the success of his project across the street at 550 N. St. Clair.

Sutherland said 60 percent of that building's 112 units drew sales contracts in the first week of marketing.

To the west, at 320 W. Erie, a 162-unit building is being proposed. The development manager, Louis Jones, said the zoning request would let an 18-story building replace a parking lot and a smaller structure that includes the Coyote Ugly nightclub.

Jones said the development team has hired well-known architect Lucien Lagrange, whose Chicago firm has designed two other high-rises in the same neighborhood. Their strikingly modern looks have appealed to younger buyers, and are in contrast with the classical buildings Lagrange produced for sites closer to the lake.

Construction could start next year, Jones said. He declined to discuss who the investors are, but public records indicate they include members of the prominent Berger real estate family, including Jonathan and Jeffrey Berger.

The hotel application was filed for 666 N. State, the Dana Hotel, a deteriorated building and a favorite for transients. The application called for a maximum 20 stories with 165 hotel rooms.

Eugene Kornota filed the application. He could not be reached for comment. His publicist couldn't describe the project, but said he has been involved in renovations of neighborhood inns, such as the Park Brompton, 528 W. Brompton, and the Surf Hotel, 555 W. Surf.

City records indicate the Dana Hotel dates from 1891 and has potentially significant architectural features. But downtown's alderman, Burton Natarus (42nd), said the building does not merit preservation
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Old August 8th, 2005, 06:58 PM   #192
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OMG... if the Dana Rooms get knocked down I will actually dance in the street!!!!!!
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Old August 8th, 2005, 08:27 PM   #193
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666 N. State? Sounds like an evil place to live in!
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Old August 9th, 2005, 05:42 AM   #194
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I recall that the building occupied by Playboy Enterprises on Lake Shore Drive used to have the address "666", but was changed to avoid the obvious association.
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Old August 9th, 2005, 09:37 PM   #195
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New Homes Publisher Angered by Neglect to include Article Attribution

I received the following nasty email from Joe Zekas, co-publisher of New Homes (www.**************). I decided to post it here to warn others about how Mr. Zekas' reacts to the neglect of attribution.

I neglected to cite New Homes Magazine when I posted a New Homes articles about Hotel 71 on July 23rd. I know others' postings of articles from New Homes Magazine occasionally haven't included the requisite attribution. Its an oversight. Usually I would write "from such-and-such magazine," but in this case I forgot to do so.

On the one hand, I'm glad Mr. Zekas let me know; I don't want to be posting stuff without attribution. But this guy could have behaved in a professional way, rather than suggest that I'm stupid, and accuse me of "stealing" his content. I certainly never passed off his content as my own.

A more professional "please remember to include attribution and quotations to any material taken from the New Homes website" would have done the trick, Mr. Zekas.


"
re Falor opening Hotel 71 ...

Perhaps you're too stupid to realize that you can't simply copy copyrighted material from someone's web site (in this case, mine, www.**************) and paste it into another Web site without attribution.

I find it difficult to believe, however, that anyone can be that stupid -- despite much evidence to the contrary in this forum.

You're free to summarize our content, quote at reasonable length from it, and link to it. You're not free to steal it outright and paste it into this site.

Please stop, before we have to take more heavy-handed actions to make you stop."

Last edited by ChicagoLover; August 9th, 2005 at 09:49 PM.
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Old August 10th, 2005, 01:53 AM   #196
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Quote:
Originally Posted by ChicagoLover
I received the following nasty email from Joe Zekas, co-publisher of New Homes (www.**************). I decided to post it here to warn others about how Mr. Zekas' reacts to the neglect of attribution.

I neglected to cite New Homes Magazine when I posted a New Homes articles about Hotel 71 on July 23rd. I know others' postings of articles from New Homes Magazine occasionally haven't included the requisite attribution. Its an oversight. Usually I would write "from such-and-such magazine," but in this case I forgot to do so.

On the one hand, I'm glad Mr. Zekas let me know; I don't want to be posting stuff without attribution. But this guy could have behaved in a professional way, rather than suggest that I'm stupid, and accuse me of "stealing" his content. I certainly never passed off his content as my own.

A more professional "please remember to include attribution and quotations to any material taken from the New Homes website" would have done the trick, Mr. Zekas.


"
re Falor opening Hotel 71 ...

Perhaps you're too stupid to realize that you can't simply copy copyrighted material from someone's web site (in this case, mine, www.**************) and paste it into another Web site without attribution.

I find it difficult to believe, however, that anyone can be that stupid -- despite much evidence to the contrary in this forum.

You're free to summarize our content, quote at reasonable length from it, and link to it. You're not free to steal it outright and paste it into this site.

Please stop, before we have to take more heavy-handed actions to make you stop."

I got a similar PM. The bastard has joined the forum to keep tabs on things. I think that he was extremely unprofessional, and there was no need to make threats, which is what he's doing. I actually got 2 messages. As far as I know, I did credit New Homes. Below are the messages that I received...


On the rise copyrighted material

--------------------------------------------------------------------------------

I note that you copied and pasted a story and photos from our Web site, www.************** into this forum.

All of the contents of that Web site, and of our New Homes Magazine, are copyrighted and not subject to the kind of thievery you're engaged in.

We have no objection to your summarizing our content, quoting from it, or linking to it.

It's not permissible under federal copyright laws to simply lift it and incorporate it into other Web sites.

Further violation of our copyrights won't be greeted with as friendly a message as this one.



Wacker Drive rehab gets funding

--------------------------------------------------------------------------------

Note that when you stole this material from this Associated Press you included their copyright notice which specifically barred you from redistributing it.

I'm sure the AP's attorneys are going to get quite a kick out of nailing you to the wall with your juvenile indiscretions when I bring them to their attention.




Not a very nice guy, I think he needs to get laid.....
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Old August 10th, 2005, 02:28 AM   #197
Steely Dan
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guys, the solution is to never post anything from that website again. if we ignore him, he'll go away, and isn't that what we all want anyway?
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Old August 10th, 2005, 04:12 AM   #198
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Steely Dan: Rest assured, I will never post anything from that website again.
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Old August 10th, 2005, 04:21 AM   #199
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He's on right now watching us <_<
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Old August 10th, 2005, 09:40 PM   #200
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Quote:
Originally Posted by Steely Dan
guys, the solution is to never post anything from that website again. if we ignore him, he'll go away, and isn't that what we all want anyway?
Steely, that SOB sent me 4 friggin messages in 1 day, just to tell me the same thing!

He also contacted Jan the administrator, who also informed me that I needed to change the way I provided articles to this website.

I am okay with complying to that, but this Joe Zekas guy needs to just go away. I'm not going to provide any articles from his magazine again, but can't you just ban him? He has harrassed the shit out of many of us through his unprofessional PM's
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