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Old April 23rd, 2008, 01:43 AM   #1241
harryc
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April 22 - AM

Lower Wacker

Site very quite today ( Tuesday )







NW corner









middle





The Pump is still there









Some work continues





Ramp down to lower parking levels





Temporary power ( NE corner )













The surface peeks through

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Old April 27th, 2008, 05:41 PM   #1242
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What is the status of this building?
Thanks
Lance
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Old April 27th, 2008, 05:55 PM   #1243
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it's at 26th level as far as i know but it might be on hold.
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Old April 30th, 2008, 10:55 PM   #1244
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Has anyone heard anything whether construction is on hold pending the anticipated June closing on the financing? I walked by the site on two different days last week over lunch and both construction entrances were chained and padlocked. I did not see any workers or activity going on at street level. I have also not seen any activity on the tower crane as well.
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Old April 30th, 2008, 11:11 PM   #1245
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It is on hold until June when financing is scheduled to close.
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Old May 1st, 2008, 12:12 AM   #1246
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noooooooooooooooooooooo!!!!!!!!!!!!!!!!!!!!!!!!!!!!! thats not what i wantd to hear
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Old May 1st, 2008, 04:11 AM   #1247
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Taken today:
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Old May 1st, 2008, 05:14 AM   #1248
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so what will happen if financing cant be found?
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Old May 1st, 2008, 06:00 AM   #1249
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Quote:
Originally Posted by Dallasbrink View Post
so what will happen if financing cant be found?
it has been found. A deal has been made and it closes in June. http://forum.skyscraperpage.com/show...postcount=1764
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Old May 3rd, 2008, 01:03 AM   #1250
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Good. A high-profile project by Chicago standards should be able to find financing. Interesting that a Chinese bank would step in to do it though.
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Old May 3rd, 2008, 05:45 PM   #1251
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I dont think Chicago can afford this. Taking more credit from Chinese banks? Have you checked your national debt lately? Insane.

But good for skyscraper lovers.
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Old May 3rd, 2008, 10:26 PM   #1252
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Main-farmer and Alle, the City of Chicago is not responsible for financing these private construction projects. TENG, the developer, has taken the risk of building this project, in the hopes of making a lot of money. That is the reason that private developers undertake such projects. The people at TENG can go into as much debt as they want, and it won't affect our US national debt. There is a big difference between the national debt of our government, and the private debt of individuals (or corporations).
If developing a highrise was easy, everyone would be able to do it. There is a lot more to it than just watching tradesman place concrete. Look how many projects have been proposed, and never built. It's not because architects and engineers couldn't figure out the design, and it's not because contractors couldn't figure out how to build them. It's because the developers have been unable to assemble the complex financial and legal agreements necessary to make "the deal" work successfully. Say what you want about Trump and his unlikable personality and taste, but the man knows how to make those things happen behind the scenes.
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Old May 3rd, 2008, 11:55 PM   #1253
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Its gonna get built, thats how Chicago is. we just kick ass like that.

watch and learn.
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Old May 4th, 2008, 04:04 AM   #1254
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gorbett/ flickr
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Old May 4th, 2008, 09:17 AM   #1255
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damn...this on-holding thing was just so unexpected!!
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Old May 4th, 2008, 11:58 AM   #1256
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why is it "on hold"?
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Old May 4th, 2008, 01:12 PM   #1257
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one word: Money

Last edited by ZZ-II; May 4th, 2008 at 01:20 PM.
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Old May 4th, 2008, 09:37 PM   #1258
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by the sound of it, its not really 'on-hold' which suggests some major issue like the bankrupcy of the developer, or (especially in Britain), a public inquiry as part of the planning process. This is a temporary hiatus until the final development financing is signed and sealed......the development, its site and final value hold too much of premium for the rug to be pulled.

You'll know its serious if the crane disppears from the top of the core.
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Old May 5th, 2008, 08:38 AM   #1259
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Quote:
Originally Posted by 3521usa View Post
What are you talking about??? how is it obvious? I do partially agree with you though as I'm still amazed by the number of high end condos the city is able to support. With that siad, I don't think wv running into some minor financial problems, even though it has sold enough units, is any evidence that the city cannot support these high end condos. Look at the times we're in. There are several other factors that should be considered before making that observation. In other words, I think your observation is weak and very inaccurate. Btw, financing has been secured and they're just waiting to close on the loan, which should happen sometime in june. In the mean time, lets just hope all goes well.

what am I talking about?? huh?

they are three floors from the setback and they don't put in rebar for the columns to support the next floor like they have for the past 20+ floor and you don't o-b-s-e-r-v-e anything odd with that?

i don't have all the links.. but 1119 is a 'normal' floor pour.. and the one I posted onto was the one that caught my eye.. seemed odd... so I posted.. turns out it was odd.

that is what i am talking about..
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Old May 5th, 2008, 08:47 AM   #1260
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Quote:
Originally Posted by 3521usa View Post
What are you talking about??? how is it obvious? I do partially agree with you though as I'm still amazed by the number of high end condos the city is able to support. With that siad, I don't think wv running into some minor financial problems, even though it has sold enough units, is any evidence that the city cannot support these high end condos. Look at the times we're in. There are several other factors that should be considered before making that observation. In other words, I think your observation is weak and very inaccurate. Btw, financing has been secured and they're just waiting to close on the loan, which should happen sometime in june. In the mean time, lets just hope all goes well.


my personal take on the high-end condos in chicago is with its flat and feature-less geography, there is no where else interesting to live in Chicago ( i.e. inland lake, river bluff, foothill, valley, etc.)... so anyone with money.. esp empty nesters.. take their money downtown. I would bet the condo boom over the last five years is from folks that do not work downtown... no, not 'obvious'.. but probable.
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