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Old September 7th, 2006, 03:07 AM   #901
forumly_chgoman
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I am worried about this expansion of Federal Government building. Fed building are notorious for their street level disconnect, that is they are often very removed from the street upsertting the flow of street level pedestrian traffic. Additionally, they are ghost towns after hours, on weekends, and holidays. I am not convinced this is a good development for state street.


Does anyone have any renderings, I am not familiar with this design
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Old September 7th, 2006, 03:44 AM   #902
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There is no design to my knowledge, only vague info like there might be one or two towers somewhere around 35ish floors. This project is well into the future, like at the end of the decade maybe.
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Old September 7th, 2006, 03:52 AM   #903
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September 6, 2006

Silver Tower


^ Notice posted at the parking lot.


^ Haven't started construction yet.

30 West Erie
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Old September 7th, 2006, 06:19 AM   #904
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30 W Erie...almost forgot about that one. Hopefully it is as handsome (IMO) as the rendering depicts.
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Old September 8th, 2006, 12:26 AM   #905
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Some info on the expansion plans from SSP

Quote:
Originally Posted by dvidler
Attended the CAF bagged lunch presentation on the Federal Campus Expansion:

Short Term 2006-07:

Renovate 202 S. State, will be done in Oct 06

Vacate Quincy Court of vehicle access
- create a pedestrain environment

Find new tenants for 18 W. Jackson

The Berghoff building is not involved with their plans

Mid-Term 2008-2010:

beautify State St building facades
- provide new screening and interim decoration

renovate all Store fronts

possible demolition of 208-214 S. State

Long Term 2011-2015:

keep 202 & 220 S. State and add new building in between

new tower/building that currently occupies 10 W. Jackson, 18 W. Jackson, and 230 S. State

keep retail on State

No photos so if anyone else was there can add them or more details that would be great.
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Old September 15th, 2006, 08:51 AM   #906
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September 14, 2006

Avenue East


River North Center Hotel




215 West Washington


155 North Wacker

^ Future site of 155 N Wacker. The tower will replace the yellow brick building on the left side of the picture. A plaza will be constructed on the eastside taking out the buildings to the right.
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Old September 29th, 2006, 02:03 PM   #907
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http://www.suntimes.com/business/768...-caa29.article

Chicago Athletic Assoc. mulls high-rise plan
Might sell building near Millennium Park


September 29, 2006
BY DAVID ROEDER Business Reporter

The Chicago Athletic Association is negotiating with developers who want to buy its property near Michigan Avenue and Madison, and use part of it for a condominium tower that would overlook Millennium Park.
The association, one of the city's oldest private clubs, would continue at its main building, 12 S. Michigan. But its building at 71 E. Madison, which connects to the Michigan side, would be demolished.

Replacing it would be a tower possibly in the 50- to 70-story range. That's the crucial element of a proposal submitted to the club's board by HSA Commercial Real Estate, a Chicago firm with investments in retail, industrial and office properties.

While HSA isn't known for residential work, it has partnered with a condo builder, Robert Horner, in its presentations to the club. Also in its team is architect Daniel Coffey, whose work here has included renovations of the landmark Oriental Theatre and Medinah Temple.

Two competing offers also are before the board, but sources said the HSA team's bid is the front-runner. The other bids are from Cleveland-based Snider-Cannata Interests and Atlanta-based Songy Partners, both of which call for renovating the buildings into a boutique hotel. They would not build a high-rise.

All value the club's property at around $20 million. But sources said the HSA plan includes pledges of future aid to the club, raising the value of its package to about $33 million.

It would be similar to an arrangement another private enclave, the University Club of Chicago, reached with developers who are building a 71-story tower at 21-39 S. Wabash. The condo tower will be connected to the club at 71 E. Monroe, which will be offered as an amenity to condo buyers.

The sale could be financial salvation for the athletic association, known as the CAA. It has lost much of its upper-crust membership in recent years. Aging demographics and lifestyle changes have diminished the appeal of some clubs built around dining and social events.

As its membership has fallen, maintenance and services at the club have suffered, many members said. Some have expressed fears that the club, which dates from 1890, is close to running out of cash.

An attorney for the club, Stephen Berger, said the board considers all three proposals as close in merit. While HSA is offering a subsidy toward club operations, those payments are well into the future, and terms are still under discussion, Berger said.

He said the board hopes to bring a sale recommendation to the members for a vote on Nov. 13.

Berger declined to discuss the association's financial picture, saying only, "This is a good opportunity for the club to realize the value of the asset,'' its real estate.

Its location is directly west of Millennium Park, which has given a push to new construction in every direction of its shining Bean artwork except toward the lake.

The club's 18-story building at 71 E. Madison contains about 50 hotel rooms for members' use, and a small number of rented offices. The HSA proposal would replace that structure with a tower holding about 200 condos and another 200 or so hotel rooms under an independent operator.

The sale would leave the club with its current dining and athletic facilities, with money to renovate them and a potential source of new members from the connected skyscraper.

"This sounds like a fabulous solution," said a member who supports the HSA bid. "Everything that counts is saved."

Horner and Coffey referred inquiries Thursday to HSA executives, who could not be reached.

Their plan could require careful maneuvering at City Hall. The CAA property is within the city's official Michigan Avenue historic district, so designated because of its famous street wall that exhibits work of important architects.
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Old October 5th, 2006, 01:08 AM   #908
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Sorry if this was already posted somewhere.

http://chicagobusiness.com/cgi-bin/news.pl?id=22316

Texas firm wants to buy downtown site, build apartments

A Texas apartment company new to Chicago is negotiating to buy a property just east of the Merchandise Mart where it plans to build a 300-plus unit apartment building.

San Antonio-based Lynd Co. is in “advanced discussions” to buy the parcel at Wells and Kinzie streets from Sterling Bay Cos., the Chicago-based real estate firm that owns the lot, says Sterling Bay Principal Andy Gloor.

Mr. Gloor cautions that the deal could still fall apart and says a retailer he declines to identify has also expressed interest in the site, a possible plan B if Lynd walks away.

Sterling Bay took over the property, currently a parking lot, as part of its 2004 acquisition of the former Helene Curtis building immediately to the south, at 325 N. Wells St. The firm had considered a hotel on the site and even drew up plans for a 350,000-square-foot office condominium building there, after its successful conversion of the Helene Curtis building into office condos.

A Lynd executive did not return phone calls for comment. Lynd owns about 8,000 apartments, mainly in Texas and the Southeast, and manages 25,000, but none in Illinois, according to its Web site.
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Old October 5th, 2006, 04:40 AM   #909
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Hmm... CAA's Madison Annex is RIDICULOUSLY small.

Guys, if they build anything, we're talking something on the scale of Mather Tower. But, it will be obscured by Willoughby Tower, so it will have to be TALLER! This seems like a poor place to build a tower... Remember, this is on the SAME BLOCK as Legacy. I'd much prefer to see them gut the middle building on the next block north.
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Old October 5th, 2006, 05:10 AM   #910
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http://www.suntimes.com/business/roe...eder04.article

Athletic Assn. could lock horns with clout-heavy Walshes

October 4, 2006
BY DAVID ROEDER Sun-Times Columnist
A new high-rise near Michigan Avenue could turn into a Clash of Clout. The Chicago Athletic Association, as I reported in the Sun-Times last week, is considering an offer for its property that could produce a new 50-story building near Michigan and Madison.
That could be big trouble for a different high-rise plan. It's called the Legacy at Millennium Park, and it's due to be built at 21-39 S. Wabash. Construction on the athletic club property, in the same block, could partially block views from many of the Legacy's units.

The Legacy is an investment of Matthew and Daniel Walsh, friends of Mayor Daley, and Mesa Development LLC. The luxury building is now being marketed, and construction is expected to begin next year.

Negotiating for the athletic club site is a venture that includes HSA Commercial Real Estate. The building would go up behind the main club building at 12 S. Michigan, if city authorities allow construction in a landmark district.

To head off problems, HSA has agreed to hire the law firm Daley & George to handle the zoning. The firm, whose name partner is mayoral brother Michael Daley, also worked for the Legacy.

Partner Jack George, an athletic club member, said he had no idea if the Walshes would object to a tall new neighbor. "I have agreed to represent HSA if they are successful in their negotiations with the club. The club needs something like this so it can keep operating,'' George said.


GOING UP: AMLI Residential, owner of apartment buildings in many suburban markets, is at last getting into downtown. It plans to start construction by yearend on a 24-story apartment building at 900 S. Clark, just north of the Target. Monthly rents are expected to range from $1,300 for a studio to $2,400 for a three-bedroom. The architecture is by Solomon Cordwell Buenz. The building will contain 440 units, and AMLI reports 70 percent will be studios, convertibles or one-bedrooms.


EYE ON THE SKY: Stuff is happening with Chicago's three tallest buildings. Here's what I know:

John Hancock Center: The offer book is being circulated for the office portion of the building, and respondents are asked to indicate their price by the second week of November. Shorenstein Properties LLC is selling its piece of the landmark. About half the building is residential condos and those remain with their owners.

Insiders expect offers of about $375 million to $390 million. Eastdil Secured LLC is marketing the property. In 1998, Shorenstein bought the Hancock for $220 million. Its resulting profit makes the $8.6 million it agreed to pay as part of the 2002 scaffolding tragedy seem a pittance.

Sears Tower: The ownership team including New Yorker Joseph Chetrit is trying mightily to refinance debt that comes due in a few months. But sources say the team isn't likely to succeed and that the building could go up for sale.

Aon Center: The top of the building is turning pink this month. Special lighting commemorates Breast Cancer Awareness month. The cause is great, but I'm glad nobody's trying pink on the Sears.
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Old October 5th, 2006, 05:33 AM   #911
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Quote:
Originally Posted by Chi_Coruscant View Post
[url]That could be big trouble for a different high-rise plan. It's called the Legacy at Millennium Park, and it's due to be built at 21-39 S. Wabash. Construction on the athletic club property, in the same block, could partially block views from many of the Legacy's units.
This is a Miami issue...its nuts to assume a new devolopment in a dense downtown area like Chicago won't eventually be obstructed by a new devolopment. So what if something partially obstructs Legacy's new condo owner's units...they should of read the fine print about view obstruction liability...and as far as the potentially partially obstructed views affecting sales at Legacy...Legacy's design will sell itself, good views or not.

Last edited by danthediscoman; October 5th, 2006 at 05:42 AM.
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Old October 7th, 2006, 01:36 AM   #912
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There is no fine print. The ads for Legacy SPECIFICALLY guaranteed forever-unobstructed views, because the buildings along Michigan are landmarked. The same for Park Michigan, Heritage, Millennium Tower, and any other recent residential property on Grant Park West there.

That's why this is a problem.

Also, like I said, any design for CAA's Madison Annex will have to be rather unique. I'll wait until I see the design before I pass judgment. Unless the tower is mushroom-shaped, it can't possibly block too many views.
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Old October 14th, 2006, 11:02 PM   #913
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Does Buck stop here?
Developer's latest Wacker project tests limits of building boom

By Thomas A. Corfman


Developer John Buck is looking to extend his string of Wacker Drive towers with what would be his riskiest development yet.

Mr. Buck's firm and New York-based Skadden Arps Slate Meagher & Flom LLP have the outlines of an agreement to make the law firm's Chicago office the anchor tenant of a proposed skyscraper at 155 N. Wacker Drive, his third in seven years, sources say.

Marian Wexler, head of Skadden's local real estate practice, confirms the negotiations but says the new development is one of several options for the firm, which has about 1,750 lawyers worldwide, a tenth of them in Chicago. Skadden could also renew its lease at 333 W. Wacker Drive. A decision is expected within a month, she says.

Yet Skadden is much smaller than the typical anchor tenants that have launched the office high-rises that transformed the Loop over the past five years. The firm would lease less than a fifth of Mr. Buck's 1-million-square-foot tower, far below the 40% to 50% widely believed to be the threshold for a construction loan as big as the estimated $275-million one this project would likely require.

The real estate industry is watching to see if Mr. Buck can finance a huge tower with so little pre-construction leasing. If he does, there may be no end to the downtown building boom, which has continued despite relatively high office vacancy rates. But if he can't, there may be a pause in the new construction, to the relief of the landlords whose tenants have defected to newer, fancier towers.

"Lenders and developers in this last cycle have generally applied more sensible principles, and this one seems like a stretch," says George Kohl, Midwest managing director with Dallas real estate firm Trammel Crow Co., which isn't involved in the talks.

Mr. Buck, chairman of Chicago-based John Buck Co., was unavailable for comment last week. Drew Nieman, the Buck principal handling the talks with Skadden, declines comment.

BETTING BIG ON MARKET

But Mr. Buck is making a "Field of Dreams" bet that credit-worthy, mid-sized tenants will continue to pay premium rents for the sizzle and technology of new buildings, and that the real estate investment market will stay hot. He reaped record-setting prices when he sold his most recent projects at 1 N. Wacker Drive, completed in 2001, and 111 S. Wacker Drive, finished last year.

Less pre-leasing boosts the risk not only for the banks but also for the Buck-managed fund that would invest in the project along with partner Morgan Stanley & Co., the New York investment bank.

"If you don't have 50% pre-leasing, it just means you have to put in more equity," says Bruce Cohen, CEO of Chicago real estate finance firm Wrightwood Capital LLC.

The proposed skyscraper would be completed before Skadden's current lease expires in mid-2009. The firm is an attractive tenant in part because of its 2005 revenues of $1.61 billion, the highest of any law firm in the nation, according to American Lawyer magazine. Although a co-anchor tenant would be ideal, a second, credit-worthy tenant that would bring pre-leasing to about 25% of the space could be critical to starting construction, sources say.

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Old October 19th, 2006, 03:16 AM   #914
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Any news on the ridiculously-thin tower, supposed to rise where La Strada is now, in front of Doral?

I went past La Strada today, and thought of this proposal.
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Old October 19th, 2006, 09:12 PM   #915
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why would they knock down a whole row of buildings at 155 n wacker when there is a parking lot across the street?

thats really stupid, the yellow building is ugly but the other ones look fine,
what the hell is going on?

and they are knocking down the other buildings for a plaza?
that is so so stupid, unless the buildings are unsound.
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Old October 19th, 2006, 09:28 PM   #916
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Quote:
Interesting graphic. I've been to 1-6, all of which have gorgeous offices with spectacular views. The Hyatt Center is the most impressive.
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Old October 20th, 2006, 12:02 AM   #917
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Quote:
Originally Posted by mohammed wong View Post
why would they knock down a whole row of buildings at 155 n wacker when there is a parking lot across the street?
There site across the street is for a future Buck office tower.
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Old October 20th, 2006, 12:05 AM   #918
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am i crazy?

Quote:
Originally Posted by spyguy View Post
There site across the street is for a future Buck office tower.
that building on the corner is cool, its so small
and the other yellow one next to it is the nice,
the others arent so great,

but doesnt this seem too rash and crazy?
i dont think we need more plazas, does anyone else?
is there a rendering for this buck office tower?

does someone own the whole block or something?

too much destruction in chicago IMHO,
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Old October 20th, 2006, 05:02 AM   #919
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Quote:
Originally Posted by mohammed wong View Post
that building on the corner is cool, its so small
and the other yellow one next to it is the nice,
the others arent so great,

but doesnt this seem too rash and crazy?
i dont think we need more plazas, does anyone else?
is there a rendering for this buck office tower?

does someone own the whole block or something?

too much destruction in chicago IMHO,

mohammed wong, you are right about that corner building being cool. In fact you should have seen it before they sprayed it with that gray dry-vit. There is terrific orginal detailing under that gray coating.

This building, i.e., the one with the light blue panel at the far right edge, was constructed immediately after the Great Fire, in roughly 1872-74.

This building houses the Showmen's League of America, and for decades had a quaint sign with circus-like lettering at the corner of the building at the third floor. By the way, the first president of the Showmen's League of America was Buffalo Bill, who passed through town frequently and who put on huge Wild West Shows at the West Side ball park, on which site the gothic red-brick UIC College of Medicine now stands.

The Showman's League is also famous for erecting a monument in the Chicago suburbs after the famous "Circus Train Crash" that killed many performers and animals.

Anyway, the Showman's League building had ugly panels on its facade since the 1950's. Then, in 2003, those panels were removed, revealing the beautiful original brickwork and limestone window surrounds, featuring arched window lintels with apical keystones that were common in the 1860's and 1870's.

Sadly, as soon as the panels were removed, revealing the true beauty of the building, the owner sprayed the whole building with gray dry-vit, covering up 100 per cent of the original facade. They gave the building some blue trim, which you can see above, and put little elephants here and there to give it a circus theme. However, dry-vit with elephants is still dry-vit.
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Old October 20th, 2006, 05:30 AM   #920
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Quote:
Originally Posted by i_am_hydrogen View Post
Interesting graphic. I've been to 1-6, all of which have gorgeous offices with spectacular views. The Hyatt Center is the most impressive.
I agree. I went to a meeting on one of the top floors there once. Gorgeous view. I think it is better than the view from the mid-day club on the Chase building down the street.
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