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Old January 22nd, 2007, 01:22 AM   #21
ardecila
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I think the amount of residential units has been reduced since the original post. In fact, I would not be surprised if the building had exactly 570 units, with the space from the other 144 units becoming office space.
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Old February 15th, 2007, 02:31 AM   #22
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I currently have a 28th floor unit under contract in this building. Residential units begin on 14 and continue up to 44. Penthouses on 45-46.

Currently the plan for retail is to have a fitness center/gym on street level.
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Old February 15th, 2007, 02:46 AM   #23
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Quote:
Originally Posted by PilotEricB View Post
I currently have a 28th floor unit under contract in this building. Residential units begin on 14 and continue up to 44. Penthouses on 45-46.

Currently the plan for retail is to have a fitness center/gym on street level.
Cool. Do you have any idea how the sales are going?
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Old February 15th, 2007, 03:26 AM   #24
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Cool. Do you have any idea how the sales are going?
I have a unit under contract as well, and I think that sales are going unbelievably well. About a week and a half ago, I was looking at one of the sales agent's list of all the units, and it looked like about 25% of them were marked as SOLD. And this is all before the official grand opening, nor are do they have a website, the units on MLS searches, or are they officially marketing the units. All of these sales are just coming from their friends and family/exclusive agents period.
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Old February 15th, 2007, 03:30 AM   #25
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25%? That IS amazing, anybody have any word on when they will open a sales center, or at this rate I don't think they will need one!
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Old February 15th, 2007, 03:37 AM   #26
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25%? That IS amazing, anybody have any word on when they will open a sales center, or at this rate I don't think they will need one!
The sales agent made it sound like the "official" sales kickoff would be in a few weeks, probably in March. I'm not sure if they will open a sales office nearby 235 West Van Buren of if they would just use the CMK office on South Michigan Ave.
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Old February 15th, 2007, 03:40 AM   #27
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Also, don't take my figure of 25% as the gospel - I don't want to spread around bad information....that's just what it looked like, looking at the unit list. What the sales agent did specifically say himself, is that they had at least 100 units under contract (as of a week and a half ago). Looking at the unit list, it seemed like there may have been a decent amount more than 100 units listed as sold.
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Old February 15th, 2007, 08:00 AM   #28
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So are floors 2-13 all parking?

Oh, and good news on the 25% estimate. I'm hoping the unique location of this development very near the southern end of the financial district will unlock some serious pent up demand.
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Old February 15th, 2007, 04:21 PM   #29
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Quote:
Originally Posted by Sir Isaac Newton View Post
What the sales agent did specifically say himself, is that they had at least 100 units under contract (as of a week and a half ago). Looking at the unit list, it seemed like there may have been a decent amount more than 100 units listed as sold.
I wouldn't take available units list as gospel either. They ussually save a certain amount of the prime units for sale when the project get closer to completion. I haven't seen the list, but I bet it lists most of the units with great views as sold. They have saved a lot of those units to mark-up and sell in the last 6 months.
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Old February 15th, 2007, 07:07 PM   #30
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Originally Posted by High Life on LSD View Post
I wouldn't take available units list as gospel either. They ussually save a certain amount of the prime units for sale when the project get closer to completion. I haven't seen the list, but I bet it lists most of the units with great views as sold. They have saved a lot of those units to mark-up and sell in the last 6 months.
You could be right....that would explain why the sales agent said 100 units had been sold whereas looking at the units list, it seemed like 150-200 units had been sold.

TUP - you are correct, floors 2-13 are parking, which is a lot. At least you will be happy to hear that the parking spot/unit ratio is less than 1....I think something like 80%.
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Old February 15th, 2007, 10:25 PM   #31
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Floors 2-12 are parking. No 13th floor in this building.

CMK will be opening up a sales office soon on Wells Street (actually, they're moving the whole company headquarters there from their current location at 1637 N. Milwaukee.)

One of the things about CMK is that they have a strong contingent of repeat buyers who have moved from project to project. The 235 W. Van Buren building also has a strong pull because of the partnership with Ralph Johnson.

Re: High Life's comment on great views - the entire space to the south of this building is permanently open, due to the Eisenhower off-ramps and the old Grand Central Station vacant space along the river. So - any unit with a south view is going to sell like hotcakes and I don't think they're holding any back at this point.

"SirIsaacNewton" is right. CMK has done pretty well so far with sales on this building without an flashy website, sales center, or cheesy radio commercials. The sales contracts currently in effect are contingent on the sale of 286 units by 8/1/07. At this rate, they should well exceed that goal.

Last edited by PilotEricB; February 16th, 2007 at 04:13 PM.
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Old March 9th, 2007, 01:23 AM   #32
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I could be wrong, but when I walked by the site today, it looked like a couple piles had already been driven into the ground. Can anyone back me up on this?
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Old March 9th, 2007, 01:31 AM   #33
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I could be wrong, but when I walked by the site today, it looked like a couple piles had already been driven into the ground. Can anyone back me up on this?
Easy. Photos on Emporis.
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Old March 13th, 2007, 12:26 AM   #34
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Construction on 235 W. Van Buren

Yes. They are driving piles into the ground, although I was surprised they didn't rip up all of the asphalt parking lot first before starting...I guess that's why I fly airplanes instead of work construction. I am curious if anyone knows when they might start demolishing the Chinese restaurant and vacant club?

There are photos on Emporis as well.
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Old March 13th, 2007, 02:32 AM   #35
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I saw that too... I had to drive by the site to make sure I was seeing what was happening.

I am not so sure the developer owns the lot with the Chinese restaurant yet (and if he does, he probably acquired it recently since it does not show up at the recorders office).
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Old March 14th, 2007, 02:01 AM   #36
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I have a little inside information on this since I work for the developer. The owner of the Chinese restaurant was playing a lot of games with the developer as far as selling the property. Ultimately, the city decided to use eminent domain to get the parcel. I know the eminent domain is well underway, but I haven't had a chance to ask him where it stands yet.
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Old April 22nd, 2007, 07:40 AM   #37
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I went by this site today while out taking photos. It didn't look any different that it did around St. Patrick's Day. Piles driven or not, there's no way this one is u/c. I'm bumping it back down to site prep.
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Old April 28th, 2007, 03:42 AM   #38
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Following the successful completion of the Contemporaine condominium building, Perkins+Will was selected again by CMK Development Corporation to design this 740,000 square foot residential building in Chicago's financial district.

This building sits on a prime site, as a threshold to the city from the Eisenhower Expressway and one of the first things people see as they arrive downtown. The predominantly glass southern facade corresponds to the more commercial buildings of the Chicago skyline to the north while the dynamic expression of the cantilevered balconies adds a residential scale. In contrast, the articulation of concrete and glass of the north fašade blends well in proportion with the residential background of the South Loop Neighborhood.

The 714 condominium units are designed to target first time home owners, typical 1-2 bedroom units range in size from 580 to 1800 square feet. The 47 story tower contains 650,000 square feet of residential space, and provides 11 floors of parking for a total of 572 spaces. The first and second floors of the building will house approximately 10,000 square feet of retail space.


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Old April 28th, 2007, 05:19 AM   #39
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^ Nice find, Spyguy.

Good architecture, less parking than units, and a fast-moving project.

I can't complain about ANYTHING here..
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Old April 28th, 2007, 05:59 AM   #40
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Quote:
Originally Posted by The Urban Politician View Post
^ Nice find, Spyguy.

Good architecture, less parking than units, and a fast-moving project.

I can't complain about ANYTHING here..
And retail at the base...
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