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Old October 7th, 2008, 10:14 PM   #7781
Dale
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If he's waiting for the economy to recover ... we could be waiting for a very long time.
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Old October 7th, 2008, 10:53 PM   #7782
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It is very important for us to see some pictures in order to have a clear understanding of what is going on with the project.I would say that form the latest pictures ..that the project is ON HOLD and the prove is the fence surrounding the hole (made in order to protect unwanted accidents) The hole will remain unchanged for an undetermined period until financing is back on track .. Thanks
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Old October 7th, 2008, 10:54 PM   #7783
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RUMOR (He moved his family to Chicago because he is the head of Chicago's Irish mob) RUMOR

Not really, he's just a huge baseball fan and wanted to live in a city where the local teams are champions!!!?
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Old October 7th, 2008, 11:00 PM   #7784
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There are two major gauges of a project's progress: (1) construction activity and (2) units sales. In this case, construction has been halted. Kelleher, nonetheless, still intends to continue selling units. It's not as if the project is being mothballed indefinitely. Therefore, I'm removing the "on hold" designation from the thread title and replacing it with, as was done at SSP, "Pending."
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Old October 8th, 2008, 01:21 AM   #7785
spire1000
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.its better than on hold
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Old October 8th, 2008, 01:25 AM   #7786
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or is it?
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Old October 8th, 2008, 01:44 AM   #7787
ames
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pending.
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Old October 8th, 2008, 03:31 PM   #7788
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Quote:
Originally Posted by i_am_hydrogen View Post
There are two major gauges of a project's progress: (1) construction activity and (2) units sales. In this case, construction has been halted. Kelleher, nonetheless, still intends to continue selling units. It's not as if the project is being mothballed indefinitely. Therefore, I'm removing the "on hold" designation from the thread title and replacing it with, as was done at SSP, "Pending."

You should change the designation to "wait till next year" then it can fit into the whole Chicago Cubs theme.
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Old October 8th, 2008, 03:42 PM   #7789
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or the status..."Impossible to build a Billion Dollar building during the current US Financial Crisis"
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Old October 8th, 2008, 04:57 PM   #7790
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they can begin to put some grass ... uh ... forget it i prefer to wait summer ... but they can plant a big Xmas Tree or to set up a car park / bank cemetery / Softprimes National Memorial ... i have many low cost projects for this place ...
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Old October 8th, 2008, 08:55 PM   #7791
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Quote:
Originally Posted by chicagogeorge View Post
Unless Kelleher has 50%+ of the units sold. I will bet the farm that he won't get a penny from any financial institution in this uncertain economic period. All one has to do is look at what the BBA libor rates have been doing lately.
How do you base that? If he has 20% of the construction completed (the foundation), and probalby plans to kick in another bagful of cash (to make 33%), he probalby could build the thing with very few sales. How do you get loans for apartment buildings? Equity. Most developers of condos put very little equity and need to resort to some magic number of sales to find a loan.

With sales going the way they are, and if he does well on the upcoming tour, why wouldnt a lender give money? In fact, they might just do it because no one is making any interest off anything else right now...

I dont think he will get it today, but if things settle down in the next few months, I would not be surprised if he gets his loans by the spring.
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Old October 8th, 2008, 08:57 PM   #7792
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I've been afraid to look at this site for the last week and I guess my suspicions have been confirmed. Have no fear though - change is coming.
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Old October 9th, 2008, 02:46 AM   #7793
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Oct 08 - lunch

From above



higer res
2007 series
2008 Q1 series
2008 Q2 series
2008 Q3 series

Lots of activity as Centtral pulled out the last 2 mobile cranes.








Lunch almost over - looking at the hole.




Full size

Pump re-intalled ?
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Old October 9th, 2008, 03:10 AM   #7794
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trés jolie towers a chicago mes a tanger oussi

A really good and beautiful project in america, like the famous AMERICAN DREAM....., by hope it will be true....
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Old October 9th, 2008, 05:02 AM   #7795
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i would be more for the buliding to have a obs deck on the 150th floor. It would be bad deal for chicago visiters to go up the top of 2ND TALLEST BULIDING and NOT THE TALLEST BULIDING. Chicago visiters had that luxury for 38 years. I would be mad that it ends
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Old October 9th, 2008, 05:47 AM   #7796
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Quote:
Originally Posted by Dale View Post
If he's waiting for the economy to recover ... we could be waiting for a very long time.

If every developer/businessman adopts this idea the economy will never recover.
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Old October 9th, 2008, 05:55 AM   #7797
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At least we have a very nice deep hole.
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Old October 9th, 2008, 05:56 AM   #7798
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...last one to leave please turn out the lights.
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Old October 9th, 2008, 10:04 AM   #7799
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Quote:
Originally Posted by nickw311 View Post
If every developer/businessman adopts this idea the economy will never recover.
Agreed. Also wasn't the ESB built during the great depression?
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Old October 9th, 2008, 03:32 PM   #7800
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I really don't like ths tower! Something about it's poroportions is off and a great city like Chicago with one of the best skylines in the world definitely deserves a better center piece than this! Maybe it being on hold is a blessing in disguise for Chicago!
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