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Old May 26th, 2007, 11:42 PM   #181
CHIsentinel
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Quote:
Originally Posted by Loopy View Post
Go ahead. Give yourself a headache:

http://www.skyscrapercity.com/showth...38#post8721738
I knew I wasn't going "loopy"

Thanks!
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Old May 30th, 2007, 12:36 AM   #182
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Originally Posted by CHIsentinel View Post
Centrum, I was hoping you might be able to answer the question as to why there is always the one tower shown on the renderings, when I thought that originally there were two high-rise towers planned for this site? Or am I just imagining things - also, where is the second tower relative to the large one which is always shown on the renderings?

Thanks!
we only show 1 tower b/ that is all we have site plan approval for. The north parcel, bound by polk, Metra, 9th and New Financial Place will need site plan approval. The entitlements, however, are in place.
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Old May 30th, 2007, 02:26 AM   #183
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^ Great thanks! Hope you get approval for the second tower soon.
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Old May 30th, 2007, 05:22 AM   #184
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Quote:
Originally Posted by Centrum View Post
we only show 1 tower b/ that is all we have site plan approval for. The north parcel, bound by polk, Metra, 9th and New Financial Place will need site plan approval. The entitlements, however, are in place.
How tall is that tower? I don't recall the height. It's great to have Centrum's giving us an insight on RC. Question for Centrum, what's going on in the Cityfront Plaza? BTW, post your reply in the other dedicated thread, not this one.
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Old May 30th, 2007, 11:49 PM   #185
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Quote:
Originally Posted by Chi_Coruscant View Post
How tall is that tower? I don't recall the height. It's great to have Centrum's giving us an insight on RC. Question for Centrum, what's going on in the Cityfront Plaza? BTW, post your reply in the other dedicated thread, not this one.
It will be approximately 500' tall.

Cityfront is going well. There is a lot of demand for our second tower.
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Old May 31st, 2007, 03:06 AM   #186
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Centrum-

On the second tower, would you consider employing a similar strategy that the Blue Cross / Blue Shield did with vertical expansion. Since you could vertically expand your building as oppose to finding and buying new additional land. Having people living inside a building under additional construction is not un heard of. Trump Tower's hotel section will be open while construction continues. Vertical expansion offers future marketing advantage since additional floors would only offer better views and no need for land purchase, or foundation work.
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Old June 20th, 2007, 06:46 PM   #187
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According to Centrum, RC has leased out 80% of the retail so far....

http://chicagorealestatedaily.com/cg...ws.pl?id=25389

June 20, 2007

Centrum-led venture gets South Loop site for $32 million
By Alby Gallun


A joint venture led by Centrum Properties Inc. has paid $32 million for a South Loop property where it plans to build a mixed-use development with a 400,000-square-foot shopping center and as many as 1,000 condominiums.


Rendering of proposed Roosevelt Collection

The joint venture between Chicago-based Centrum and its longtime partner, Angelo Gordon Co. of New York, has also taken out a $25.2-million loan from LaSalle Bank N.A. to finance the early stages of the project on Roosevelt Road, according to a loan document filed with the Cook County Recorder.

LaSalle has agreed to lend more than $280 million to the developers, who will put in about $70 million of equity, or 20% of the $350 million the project is expected to cost, says Centrum partner Sol Barket.

Called the Roosevelt Collection, the 12-acre development will be the largest mixed-use project in the fast-growing South Loop. Anchored by a 16-screen Kerasotes Showplace Theatre, the project will sit just west of the Target at Roosevelt Road and Clark Street and stretch north to Polk Street. Construction crews have been preparing the site for the past two months.

Buyers have signed contracts for almost half of the 342 condos in the project’s first phase, and retailers have signed leases or letters of intent for about 80% of its retail space, Mr. Barket says. He declines to identify the retailers.

The Centrum joint venture acquired the land from an investor group led by Matthew and Daniel Walsh, principals of the Walsh Group construction firm. At about $61 a square foot, the price is low compared with other recent land sales in the neighborhood that have exceeded $100 a square foot. D2 Realty Services Inc. paid about $94 a square foot for an adjacent property in October.

“It seems like a good price on a square foot basis” and based on what the property’s zoning allows, says Daniel Hyman, president of Millennium Properties R/E Inc., a Chicago-based brokerage.

The Centrum joint venture will turn over almost three acres to the city for a park, one reason for the relatively low price. And it’s an especially challenging site because the developers must build a roughly 30-foot high platform so cars can enter from Roosevelt Road, which is elevated along the property.

A Walsh executive declines to comment on the transaction, which closed May 23, according to deeds filed with the county recorder.
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Old June 20th, 2007, 07:02 PM   #188
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Interesting that the transaction closed May 23, but Centrum started work on the property May 3.

http://www.skyscrapercity.com/showth...=407268&page=8
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Old June 20th, 2007, 09:18 PM   #189
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......what are you suggesting...?
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Old June 22nd, 2007, 03:17 AM   #190
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we started the project before we owned the land. Our agreement with Clark/Taylor allowed for certain work to start early.
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Old June 22nd, 2007, 03:23 AM   #191
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Quote:
Originally Posted by RavenWolf55 View Post
Centrum-

On the second tower, would you consider employing a similar strategy that the Blue Cross / Blue Shield did with vertical expansion. Since you could vertically expand your building as oppose to finding and buying new additional land. Having people living inside a building under additional construction is not un heard of. Trump Tower's hotel section will be open while construction continues. Vertical expansion offers future marketing advantage since additional floors would only offer better views and no need for land purchase, or foundation work.
Not a lot of people can afford to do this. It's very expensive to carry all that added expense w/ no revenue. Plus, a bank will not lend on those expenses.
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Old June 22nd, 2007, 09:06 AM   #192
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Thanks for patiently answering our questions. We really appreciate all the insider information we receive on this board.
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Old June 22nd, 2007, 06:33 PM   #193
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Mr./Ms. Centrum, please tell us all that the residential tower design shown in the renderings is just a placeholder at this point.

Has Centrum considered using someone other than Howard Hirsch & Associates for this tower design, or possibly hiring an exterior envelope architect for a reskinning a-la Jeanne Gang on Lowenberg's Aqua...?
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Old June 30th, 2007, 02:04 PM   #194
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that is not the current design. we use a number of resi architects. Howard is not the only one. We probably won't break out the skin, but I've done that before.
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Old July 1st, 2007, 12:22 AM   #195
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Hey Centrum what do you do over there? Before I moved out of Chicago last month I worked for the company that does all the printing for this project and others from your company. Just wondering if I have ever talked to you.
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Old July 2nd, 2007, 02:37 AM   #196
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Originally Posted by richardsonhomebuyers View Post
Hey Centrum what do you do over there? Before I moved out of Chicago last month I worked for the company that does all the printing for this project and others from your company. Just wondering if I have ever talked to you.
Cushing?
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Old July 2nd, 2007, 04:24 AM   #197
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yeah how did you know?
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Old July 2nd, 2007, 02:13 PM   #198
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Any Pics of the site? Also Whats the Curve look like lately? I am out of town
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Old July 2nd, 2007, 05:19 PM   #199
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Any Pics of the site? Also Whats the Curve look like lately? I am out of town
The Curve has been scrapped - at least for the time being. 900 South Clark is in the middle of construction though - I believe they are on the 15th floor right now.
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Old July 2nd, 2007, 05:29 PM   #200
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The Curve has been scrapped - at least for the time being.
^ Where did you hear that? There have been conflicting reports about this
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