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Old March 3rd, 2006, 03:10 PM   #721
Chi_Coruscant
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^664 N Mich kinda looks like a shorter version of Park Hyatt without roof. It would much better if it is located on LSD or South Mich Ave near the Columbian and four-towered OMP site.
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Old March 3rd, 2006, 06:47 PM   #722
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Dominick's wants slice of the high-end market
New city store puts emphasis on easy, fresh prepared foods

By John Schmeltzer

Tribune staff reporter
Published March 3, 2006

The Dominick's store opening Friday in Chicago's Streeterville neighborhood--the chain's first new store in three years--is not your typical grocery store.

For one thing, there's the wine selection: a half-bottle of Grgich Hills Violetta, for instance, sells for $69.99.

For another, there's the carving station: You can get prime rib carved to specification for $12.99 per pound on Sundays, with different cuts of meat offered each day.

The upscale offerings are part of Dominick's new "lifestyle store" strategy. The approach takes dead aim at Whole Foods, which has been skimming more customers off the high end with its River North and Gold Coast stores.

In the new Dominick's, prepared foods and specialty products are given center stage rather than relegated to the side as is done at typical grocery stores.

"This is all about the Chicago downtown experience," said Don Keprta, president of Dominick's, who on Thursday was leading tours of the 50,000-square-foot store at 255 E. Grand Ave. Downtown grocery store openings are a rarity. It's been four years since Jewel-Osco opened its store at State and Ohio Streets.

Continued here:
http://www.chicagotribune.com/busine...i-business-hed
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Old March 4th, 2006, 12:23 AM   #723
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Quote:
Originally Posted by ChicagoLover
Isn't that the base of the current building next door ? Is that building going to be incorporated into the new development ?
I'd assume so, although the current building is sorta Neo-Parisian and the new one is Art Deco... Even still, what a knockout proposal..
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Old March 6th, 2006, 03:02 AM   #724
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Here is a new and completely different rendering of 757 Orleans:

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Old March 6th, 2006, 07:47 AM   #725
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It's just peachy for infill
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Old March 6th, 2006, 08:05 AM   #726
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Holy moly - I like it, except for the parking podium. Sigh.. the things we give up for density.

It has a finished quality about it that other modern res-towers don't seem to have. I blame it on the fact that everyone forgot Sullivan's analogy of the skyscraper to a column (decorated base, unremarkable middle, and final top).
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Old March 7th, 2006, 07:02 AM   #727
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Quote:
Originally Posted by BVictor1
Also, there is a new 40 story condo tower proposed for 664 North Michigan Avenue. This is the location where the Terra Museum used to be. I don't have a rendering yet, but here is the website.

http://www.theresidenceschicago.com/
im gonna start a new thread about this one , i hope you dont mind
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Old March 21st, 2006, 05:04 AM   #728
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I am surprised it escaped our radar:

GSA Assembles Land for Major Expansion

By Mark Ruda (03/16/2006 www.globest.com
Last updated: March 16, 2006 10:19am

CHICAGO-The city is selling a 12,500-sf building at 212 S. State St. to the US General Services Administration for $2.15 million, the last piece to the acquisition puzzle for a 1.5-million-sf expansion of the federal government’s Downtown office campus. The GSA is considering several options, including identical office towers on the 200 block of South State Street, in an expansion that could take 20 years to complete and depends heavily on federal budget negotiations.


Expansion will be east of the current federal campus, which includes the 1.2-million-sf Dirksen Federal Building at 219 S. Dearborn St., 1.1-million-sf Kluczynski Federal Building at 230 S. Dearborn St. and 711,000-sf Metcalfe Building at 77 W. Jackson St. The General Services Administration’s public building service, which serves as the federal government’s property manager, already has bought six other properties as part of a $53-million acquisition program.


“We have concluded we need to expand the federal center,” says GSA assistant regional administrator David Hood. He adds that it is “unprecedented” for the federal government to commit to a $53-million property acquisition program ahead of a final development plan.


The city has owned the 4,400-sf site and three-story building since 2000, but redevelopment plans stalled because of an inability to acquire historic buildings to the north and south, says Terri Haymaker of the Department of Planning and Development. The building at 202 S. State St. needs work on the façade, while the interior has been gutted, Hood says.


City officials want the federal government to keep retail tenants on the first floor of any redevelopment and expansion projects, Haymaker says. Hood says leases already have been extended with retail tenants for five years or more.
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Old March 21st, 2006, 05:18 AM   #729
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I'm a little hopefull about this project. In other cities newly constructed federal buildings are actually designed by good architects.
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Old March 21st, 2006, 06:39 AM   #730
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SSP's vote for the top 3 CHICAGO 700+ foot proposals

Dudes, SteelyDan is holding a poll for top 3. This is for SSP members. If you want to vote, register at www.skyscraperpage.com
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Old March 21st, 2006, 07:05 AM   #731
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in regard to the federal building wat is expected height wise? do any of you think it has the possibility of being a 700+ ft building ? i remember the sq. footage was fairly large for the area of the lot
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Old March 21st, 2006, 07:36 AM   #732
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Something like a tower or two of around 35 floors IIRC.
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Old March 21st, 2006, 05:22 PM   #733
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Well, the buildings on that block of State all contain the City's highest zoning designation (dx-16) which basically puts no limits on height or bulk of structure... so, zoning certainly won't be an issue.
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Old March 29th, 2006, 04:26 PM   #734
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Downtown Vancancy Update....

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


Vacancies down: In a sign that a recovery in the downtown office market is under way, demand for space is increasing, pushing down vacancy rates to their lowest level since the fourth quarter of 2004, according CB Richard Ellis Inc.

"It may be two steps forward, one step back, but I think there is a positive trend," said tenant representative Jeffrey Liljeberg, a CB senior vice president.

There is a shrinking number of vacant spaces with premium views that are at least 50,000 square feet in size, particularly in the West Loop, Liljeberg said. "We are going to see some pressure on pricing because the landlords can afford to ask for higher rents," he added.

200 W. Monroe lease: National Education Servicing LLC has leased 21,677 square feet of space at 200 W. Monroe St., moving from Lincoln Square, said tenant representative Studley Inc., which represented the student loan company. National currently has about 14,000 square feet at 2412 W. Lawrence Ave., which is owned by Corus Bank.


Space gets tighter 4th Qtr 2005 1st Qtr 2006 VACANCY RATES West Loop 17.5% 15.1% Central Loop 13.2% 13.2% East Loop 17.7% 18.2% N. Michigan Ave 13.5% 13.7% River North 25.2% 20.7% Downtown Market Total 16.0% 15.1% DEMAND FOR SPACE* Class A buildings 23,585 373,187 Class B buildings 43,868 276,102 Class C buildings 69,328 -86,840 Downtown Market Total 136,781 562,449 *As measured by net absorption, change in amount of occupied space, compared to prior quarter. Buildings graded according to quality. Source: CB Richard Ellis Inc.
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Old March 29th, 2006, 05:25 PM   #735
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At least it's getting better.
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Old March 29th, 2006, 06:26 PM   #736
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The Park Monroe website is up now. These are the condos that will be on the top floors of 55 E. Monroe.

There really isn't anything on the website but I have a brochure for it (I work in the building and they handed them out). Some details:

- 1, 2 or 3 bedroom homes as well as some two-level penthouses

- 900 to 2500 square feet

- rooftop sundeck, pool and fitness center

- private lobby, elevators and parking

It should also be noted that each residence wil have its own private balcony. They have a picture of the exterior of the building and the top floors look really weird with the balconies. It looks like there may be some significant structural changes necessary to the facade for these homes.

A model is supposed to open in the building sometime this summer.
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Old March 29th, 2006, 10:58 PM   #737
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Quote:
Originally Posted by tootshibbard
Downtown Vancancy Update....

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

Vacancies down: In a sign that a recovery in the downtown office market is under way, demand for space is increasing, pushing down vacancy rates to their lowest level since the fourth quarter of 2004, according CB Richard Ellis Inc.
John Buck has been obviously right all along. Last year, he announced his intention in developing a 50-stories high-rise office tower on the corridor of Randolph and Wacker (I think). His announcement drew ire from other developers who are worried about Buck's proposals would make office space market even softer.
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Old March 29th, 2006, 11:05 PM   #738
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Quote:
Originally Posted by itsnotrequired
It should also be noted that each residence wil have its own private balcony. They have a picture of the exterior of the building and the top floors look really weird with the balconies. It looks like there may be some significant structural changes necessary to the facade for these homes.
that ******* sucks. i really like the clean and sleek modernist facade of mid-continental plaza as it exists now. balconies are going to seriously **** that all up.

too bad.
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Old March 30th, 2006, 01:34 AM   #739
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About the vacancy rate issue... As some of you guys know, I often have expressed concern about the vacancy rate in downtown office space. The rate has gone as high as 16% (or about 18% counting sublease space on the market), which is high historically, and high compared to other US cities. I have become increasingly concerned when Chicago's rate didn't decline, even though high rates in several other cities in the US have declined. I know some of this is due to the new construction, but some of it is due to the lack of job growth in the CBD.

I was encouraged today to hear the news that vacancy rates are down according to the latest quarterly report from CB Richard Ellis. (There seems to be a discrepancy between the Tribune and the Sun-Times in the reportage of the CBRE report. According to the Trib, total vacancy across the 5 downtown submarkets is 15.1%, down from 16.0% in the 4th quarter of 2005. According to the Sun-Times, the total vacancy rate is 14.5%, down from 15.5% "at the end of 2005.")

Its hard to know how to interpret these numbers. How much is the decline due to a shrinking overall amount of office space in the 1st quarter of this year due to condo conversions, and how much is the decline to net positive leasing activity? Did the space at 55 East Monroe come off the market this quarter or earlier? What about the space at 900 North Michigan? I wish I had more specific numbers for this stuff. Why am I so interesting in leasing activity? Well, I think its a really good barometer of Chicago's economic growth.
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Old March 30th, 2006, 01:42 AM   #740
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Chicago Lover... a part of the article that is not clear is the breakdown by area:
This is even more promising. The West loop and River North went down significantly. The Central Loop remained the same even with some new buildings. N. Michigan Avenue and East loop went up... these two areas are turning more and more residential and these numbers actually indicate that the trend from office to condo is being driven by the OFFICE market, not necessarily the residential market. With the conversions in these two areas, there is a large demand of residential demand in these areas. With JHC, IBM, and Wrigley/Tribune thinking of going condo, these numbers will improve.

4th Qtr 2005 1st Qtr 2006 VACANCY RATES
West Loop 17.5% 15.1% << Very promising.
Central Loop 13.2% 13.2%
East Loop 17.7% 18.2%
N. Michigan Ave 13.5% 13.7%
River North 25.2% 20.7%
Downtown Market Total 16.0% 15.1%
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