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Old April 7th, 2008, 10:09 AM   #1161
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Quote:
Originally Posted by philvia View Post
i love how chicago construction sites are usually so clean and organized
I know

Look at a New York site (Freedom tower) and you have no idea what is what.
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Old April 8th, 2008, 03:33 AM   #1162
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April 7, 2008













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Old April 8th, 2008, 05:08 AM   #1163
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Quote:
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April 7, 2008


Swimming pool ?

Your pictures leave me at a loss for words, and a big grin.
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Old April 8th, 2008, 05:18 AM   #1164
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so the core has reached height of resi setback? good progress. should shoot up soon


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Old April 8th, 2008, 07:42 AM   #1165
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Quote:
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Swimming pool ?

Your pictures leave me at a loss for words, and a big grin.


Can't be the pool yet... three more floors of hotel to go.. the floors must reach the core.. then the amenity level.. that is where the lap pool is..

also, the lap pool is on the west side of the building (so you'd be swimming North/South.. that hole ( whatever it is ) is on the south side of the building making you swim East/West.
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Old April 9th, 2008, 02:39 AM   #1166
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Ok... What is going on at SSP? Someone wrote in stating that there is going to be some huge news 3 days from now. The person that wrote in works for the concrete company working on the project. Someone else wrote in that the Waterview confirmed that the project contractor is out of money. In addition, the Waterview folks stated that Teng should be able to secure the remaining financing in short order. The building is 67% sold out. Others believe that the building will be topped off without the condo portion.

Last edited by cheeps; April 9th, 2008 at 02:47 AM.
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Old April 9th, 2008, 02:54 AM   #1167
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The overmoderation is out of hand over there.

This tower is apparently on the rocks. Funding has dried up. It may be finished just as a hotel at roughly its current height. Lots of people confirmed the rumor, too, so there was no reason to delete all the threads.
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Old April 9th, 2008, 05:34 AM   #1168
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Please tell me this is not true!! This is my second favorite project in chicago! If it tops out now, i will be unbeleivibly dissapointed. Sigh
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Old April 9th, 2008, 06:04 AM   #1169
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thats terrible news if its true.
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Old April 9th, 2008, 06:47 AM   #1170
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I like this better than Trump, I would hate to see it go. Hey, it could still be a rumor, and they could get their money, it is supposedly 2/3 sold, and that seems to be the magic threashold for funding, so I am crossing my fingers. Hope it is just a bad rumor.
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Old April 9th, 2008, 08:42 AM   #1171
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Quote:
Originally Posted by WonderlandPark View Post
The overmoderation is out of hand over there.

This tower is apparently on the rocks. Funding has dried up. It may be finished just as a hotel at roughly its current height. Lots of people confirmed the rumor, too, so there was no reason to delete all the threads.
I hope that's not true but I seriously doubt that because isn't the Shangri-La hotel supposed to be in there? A high class hotel like that would want to be in an elegant building in a prime location.

Plus no changes on the websites:

http://www.waterviewtower.com/

http://www.shangri-la.com/en/property/chicago/shangrila

I think everything is going to be fine. I'd love to stay at that hotel too. Looks NICE.
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Old April 9th, 2008, 09:18 AM   #1172
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that is quite some bad news
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Old April 9th, 2008, 09:25 AM   #1173
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That would be catastrophic if it's true, although I have a very hard time believing that would happen. A high profile tower like this in a city like Chicago coming to a halt after 20 floors? I say no way.
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Old April 9th, 2008, 01:14 PM   #1174
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Hopefuklly not, it would be bad to stop at this height.
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Old April 9th, 2008, 01:55 PM   #1175
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Drama

Quote:
http://www.suntimes.com/business/roe...eder09.article

Trouble in Shangri-La REAL ESTATE | High-end hotel was set for Wacker tower hit by money crunch
April 9, 2008Recommend

DAVID ROEDER [email protected]

...........But progress on the building, marketed as Waterview Tower, has been excruciatingly slow. Sources said the the developer, Teng & Associates Inc., has been unable to secure about $320 million in construction financing and may be forced to stop work. With the shell of the lower floors in place, it's possible the structure will serve merely as a multilevel parking garage until the market for high-priced housing revives.

Five contractors have filed liens on the property since January. The most significant appears to be a claim by Thatcher Engineering Corp. for $207,000. One lien can indicate just a payment dispute; several indicates a project is in trouble and creditors are protecting their interests in case of a bankruptcy or property sale.

...........Sources said Teng has been trying to arrange financing through a German bank, WestLB AG. But the credit crisis has made bankers notably more conservative. "It's getting so you have to put up 30 percent to 40 percent equity," said Chicago developer Michael Reschke, who said third parties have solicited his interest in a stake in the Teng deal but that he's declined.

Hoepf said he wasn't aware of plans to stop construction on his building and referred questions to the project's manager at Teng, Sean McMahon. McMahon and Teng President Ivan Dvorak did not return calls made over several days....................
..
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Old April 9th, 2008, 03:36 PM   #1176
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Old April 9th, 2008, 04:40 PM   #1177
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Rumors are true. If this is in trouble, makes me wonder about Chicago Spire.
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Old April 9th, 2008, 05:16 PM   #1178
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Quote:
Originally Posted by WonderlandPark View Post
Rumors are true. If this is in trouble, makes me wonder about Chicago Spire.
how do u know rumors are true? secondly, this building is said to be 67% sold. I think spire sales have been going well and are mostly international buyers.(may end up better then 67% who knows) different funding source, etc etc. for now, I think the spire is safe.
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Old April 9th, 2008, 05:22 PM   #1179
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WTF? This is very disappointing and depressing news. A freaking parking garage! Are you serious?
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Old April 9th, 2008, 05:23 PM   #1180
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That's a kick in the face...
It's true that the West LB is going through a big crisis, and the bank's future is unclear, after negotiations about the fusion with other state banks failed in February. Now the state North Rhine-Westphalia and others have assured to support the West LB and to shield risks up to 5 billion Euro. So I really hope that this trouble won't damage this great project (and also I hope that up to 1500 employees won't lose their jobs in Germany)!

But what about the mentionned "excruciatingly slow" progress on the Waterview Tower... I almost was about to post a positive statement that it's growing well, especially when I see a marvellous pic like this one by Retrograd. Do you think that Waterview Tower has slowed down?
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Last edited by Dan Hochhaus; April 9th, 2008 at 06:58 PM.
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