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Old July 12th, 2012, 02:45 PM   #1781
DarkShadows1966
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There was a parking lot in the site
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Old July 12th, 2012, 03:11 PM   #1782
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I thought Waterview was cancelled.
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Old July 18th, 2012, 08:39 PM   #1783
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Nope, they changed the design. It's just that it hasn't restarted yet
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Old July 20th, 2012, 09:25 PM   #1784
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There are folks on site most days now, just a few planning and surveying, but they do seem to be gearing up.

Last month


Last word was that the city had approved a permit to demolish the top 2 floors in order to re-work the design.
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Old September 7th, 2012, 11:04 PM   #1785
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I spoke with construction worker today who was able to confirm that this one is now u/c.
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Old September 7th, 2012, 11:09 PM   #1786
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it's a pity no supertall will rise here...but at least something is coming now. And not the worst design i think
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Old September 8th, 2012, 12:01 AM   #1787
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Excellent news!
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Old September 28th, 2012, 01:43 AM   #1788
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Good news on 111 West Wacker?

I ran across this story, dated 9/26/12:

Developer lands $115 million construction loan for Waterview Tower
By: Alby GallunSeptember 26, 2012

(Crain's) — A development group led by Related Cos. has landed a loan to resume construction of Waterview Tower, the 27-story concrete structure on Wacker Drive that has sat unfinished since its prior developer ran out of money in 2008.

U.S. Bank said Wednesday that it and Bank of America Corp. have led a bank group that provided a $115-million construction loan for the project at 111 W. Wacker Drive.

The Related venture plans to finish the development as a 60-story tower with 504 apartments. Demolition of parts of the existing structure is under way; Related expects to finish the building in the spring of 2014.

Here's a link to the full story:

http://www.chicagorealestatedaily.co...aterview-tower



Yes, it's a shame a supertall couldn't be built here. But at least the concrete hulk will be completed, no longer blighting the view along the river.

I think we can now safely assume it will be completed soon.

Last edited by DFDalton; September 28th, 2012 at 01:50 AM.
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Old September 28th, 2012, 01:46 AM   #1789
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Soon. First, there's a therapeutic demolition of the top of the unfinished parking garage structure before Related can begin to build the residential tower floors. Nice to hear about the financing, but I was never in doubt given related's standing in the development community.
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Old September 28th, 2012, 01:56 AM   #1790
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Given the history of this site, I don't count my chickens until they're hatched. Actually securing the construction loan is a BIG DEAL to me. Everything before was just talk.
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Old October 2nd, 2012, 05:53 AM   #1791
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Languishing Chicago Address Gets New Life with $115 Million U.S. Bank Loan



Quote:
Minneapolis-based U.S. Bank has closed on a $115 million construction loan that will kick start one of Chicago’s most anxiously awaited projects.

The bank provided the loan to Related Midwest for the company’s construction of a 504-unit apartment complex at 111 West Wacker Drive in downtown Chicago. The development site was acquired by Related in late July 2011 in a joint venture with Clark Wacker LLC, after previously petering out at 25 stories. Demolition of that portion is underway now. “In cities all over the country, U.S. Bank is working with customers like Related to get the economy moving again,” said Don Pafford, Chicago commercial real estate manager with U.S. Bank. “We are happy to see this project will move forward and become a significant addition to the heart of Chicago.”

A spokesperson for U.S. Bank declined to provide details about the loan’s terms, but said that the deal was attractive on several fronts. “We look at the sponsor of the project,” she said. “This project sponsor has a really good history and also Chicago is a really important market to us.”

Related Midwest is a division of New York-based Related Companies, which through a spokesperson also declined to comment on the details of the loan.
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Old October 3rd, 2012, 01:51 PM   #1792
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Quote:
Originally Posted by ZZ-II View Post
it's a pity no supertall will rise here...but at least something is coming now. And not the worst design i think
I agree. This plot has been in this condition far too long.
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Old October 3rd, 2012, 02:56 PM   #1793
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This tower is very disappointing.
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Old October 3rd, 2012, 10:57 PM   #1794
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I like the new design much better.
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Old October 4th, 2012, 06:29 AM   #1795
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Quote:
Originally Posted by RobertWalpole View Post
This tower is very disappointing.
It's gone from an attractive supertall tower with an interesting curtain wall that would have had major impact on the skyline to being merely a glass box lot filler. Still, it's better than having that rotting concrete carcass despoiling the view along the river.
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Old October 4th, 2012, 10:01 AM   #1796
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Quote:
Originally Posted by desertpunk View Post
Languishing Chicago Address Gets New Life with $115 Million U.S. Bank Loan

"after previously petering out at 25 stories. Demolition of that portion is underway now. "
Does that mean that they demolish all the first 25 stories?
I had expected that they remove only the topmost stories and continue from there on..
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Old October 23rd, 2012, 11:57 PM   #1797
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10-17 - demo



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Old October 24th, 2012, 01:23 AM   #1798
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Quote:
Originally Posted by RobertWalpole View Post
This tower is very disappointing.
Handel out of Boston: Glass Boxes 'R' Us.


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Old October 24th, 2012, 05:10 AM   #1799
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This building is the only glass box there...
In between a pomo and an art deco building.


Doesn't matter, because it's a beautiful design.

Last edited by ThatOneGuy; October 24th, 2012 at 10:49 PM.
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Old October 24th, 2012, 08:38 AM   #1800
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This site deserves more than this.
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