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Old March 13th, 2009, 08:27 PM   #8441
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Well, that is what I wanted to say.
Sorry.
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Old March 13th, 2009, 08:49 PM   #8442
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Quote:
Originally Posted by CrazyAboutCities View Post
Sad pictures.

I can't help noticing that everytime you took pictures of Chicago Spire site, that elevated freeway always look so empty... Have that freeway had traffic jams? I think it is ridiculous to have freeway with 4 or more lanes even not many people use it.
Lately my shots have been from lunchtime, when LSD (Lake Shore Drive) is generally not as busy. Whenever I drive on it it seems quite busy.
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Old March 13th, 2009, 09:09 PM   #8443
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Quote:
Originally Posted by CrazyAboutCities View Post
Sad pictures.

I can't help noticing that everytime you took pictures of Chicago Spire site, that elevated freeway always look so empty... Have that freeway had traffic jams? I think it is ridiculous to have freeway with 4 or more lanes even not many people use it.

"I agree! It only encourages big SUV drivers to pump up evil gas in the environment! One lane should be way enough! And another one by bicycles of course."


What the **** were you on about!? Traffic comes and goes dude... Constant jam would be sooo much better for sure, right?
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Old March 14th, 2009, 01:39 AM   #8444
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Reading that article at http://www.independent.ie/business/w...t-1632650.html gives me a bit more hope. I had no idea that Kelleher had 140million euros of his own funding in the project. At the very least, this means that he has a bit more vested stake into it, though I can still picture him selling it out just to get his money back after this project doesn't get any financing for the next year.
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Old March 14th, 2009, 03:27 AM   #8445
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I don't think is dead. In the chicago social magazine for men this spring. There is a two page storie on the building. I have hope
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Old March 14th, 2009, 05:43 AM   #8446
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Quote:
Originally Posted by Helmet Yawn View Post
i had a meeting at thornton tomasetti last week and the spire came up in conversation....bottom line: this project is dead.

the only hope is someone buying out the entire deal. but if it does get built, it will be about a 1/3 of the scope of the original design.
Was Thornton the eng on this one?
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Old March 14th, 2009, 07:21 PM   #8447
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Quote:
Originally Posted by CrazyAboutCities View Post
Sad pictures.

I can't help noticing that everytime you took pictures of Chicago Spire site, that elevated freeway always look so empty... Have that freeway had traffic jams? I think it is ridiculous to have freeway with 4 or more lanes even not many people use it.
Not to mention that harryc said he times his photos sometimes to limit the number of cars in the picture. Something about a stoplight being around the corner. If you notice in the picture there is a bunch of cars that had just passed the bridge.
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Old March 14th, 2009, 09:53 PM   #8448
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Quote:
Originally Posted by harryc View Post
Lately my shots have been from lunchtime, when LSD (Lake Shore Drive) is generally not as busy. Whenever I drive on it it seems quite busy.
Ahh I see

Quote:
Originally Posted by chjbolton View Post
"I agree! It only encourages big SUV drivers to pump up evil gas in the environment! One lane should be way enough! And another one by bicycles of course."


What the **** were you on about!? Traffic comes on goes dude... Constant jam would be sooo much better for sure, right?
LOL! I never say anything that I support freeway or something like that. Just saying from my observation.

Quote:
Originally Posted by MichiganWolverine View Post
Not to mention that harryc said he times his photos sometimes to limit the number of cars in the picture. Something about a stoplight being around the corner. If you notice in the picture there is a bunch of cars that had just passed the bridge.
That made a lot of senses now. Thanks!
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Old March 15th, 2009, 01:54 PM   #8449
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Two of my favourites in your city and in the world ( Wateview,Spire ...Iwas really jealous ) are on hold or even dead ??!!?? That's really sad .
Is there any hope ...?
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Old March 15th, 2009, 11:14 PM   #8450
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Quote:
Originally Posted by frank hannover View Post
Two of my favourites in your city and in the world ( Wateview,Spire ...Iwas really jealous ) are on hold or even dead ??!!?? That's really sad .
Is there any hope ...?
there is always hope. but until the US gets out of this recession, I wouldnt expect those to happen. 2-5 years is my guess.
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Old March 16th, 2009, 03:29 AM   #8451
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I'm sort of surprised at the luck in timing of Lakeshore East, their Aqua and 340 on the Park projects sold out, but just across the river Trump is going bust. At least it was built, but they need to sell a lot more units.

I agree the Spire will eventually happen with probably the same design, but in my opinion another project Mandarin Oriental could end up being something completely different.

Eric
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Old March 16th, 2009, 05:50 AM   #8452
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i dont know, i just dont like the design it looks like a candle hahah =/
i think the top of the buildng its what i dont like bout it, or the way it rolls all the way up..
i love this city, but id prefer another design for the spire..
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Old March 17th, 2009, 02:46 PM   #8453
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u would certainly prefer current design if u look at the dodgy previous design.
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Old March 18th, 2009, 01:28 AM   #8454
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one thing that caught my attention was that the hancock center was halted mid-construction due to a credit crunch, too, yet we all know how that story ended. i guess hope springs eternal
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Old March 18th, 2009, 01:55 AM   #8455
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I thought the Hancock was stopped because they found out some of the caissons were in the wrong spot?
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Old March 19th, 2009, 07:52 PM   #8456
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The Hancock caissons were done in the dead of winter, and they had trouble with seeing into them as they were pouring the concrete. When one of the structural columns was being placed in summer 1966, a workman noticed that it tipped slightly from its true position. Luckily, a foreman ordered the column removed and the caissons inspected. Voids were found in several, delaying construction for six months.

I know of no problems with a credit crunch or wrong placement. The only problem was the integrity of the caissons.
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Old March 20th, 2009, 03:00 AM   #8457
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Old March 20th, 2009, 03:02 AM   #8458
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From SSP

Quote:
Originally Posted by Sir Isaac Newton View Post
I received an email newsletter from Shelbourne Development on the Spire and have copied the most important parts of the email below. The email expresses confidence that the Spire will get built....granted, it would be poor salesmanship to exude anything but confidence; but still - the email shows that Shelbourne is still actively marketing the Spire and has at least some hope that it will get built.

There was also some less substantive information in the email, part of which talked about how Chicago may get the 2016 Olympics. I'm thinking that Shelbourne may be holding out on the hope that Chicago gets the Olympics, which would spur a new wave of international investors to buy a unit in the Spire....

Also, do you think that if Chicago does win the Olympics, that the city and/or USOC might help provide capital/assistance in getting the Spire financed? I would imagine that they would have an interest in the Spire being built, as it would provide for a profound icon and legacy for Chicago and their 2016 Olympics. I think that the $75 million in TIF funds that 29 South LaSalle is requesting would be better spent on getting the Spire built, don't you think?


"THE CHICAGO SPIRE PROJECT
Dates: Currently, the project completion dates remain unaffected as time allowances for unanticipated events were included in the original schedule. We are currently working with some of the world's top financial institutions to secure project financing for the next phase of construction. The Chicago Spire will be in position to be afforded the first credit when it becomes available and we have every reason to believe that this will become reality in short order.

Earnest Money: Buyers' Earnest Money deposits are held at Bank of America in segregated interest-bearing accounts assigned to each individual Buyer. The accounts are insured by the Federal Deposit Insurance Corporation (FDIC), are held harmless from any developer debt and are unable to be accessed for construction costs.

Construction Status: Approximately 70% of our construction materials' procurement is bid out. Chicago Spire LLC's land assembly agreements with the City of Chicago and the Chicago Park District are engrossed and fully approved by the City's Department of Law. A significant body of construction work has been completed to date including:
Foundation and substructure works by Case Foundation Company;
Ramps to serve the site, to and from Lake Shore Drive completed by Lorig Construction; and
Utility relocation work (substantially completed).

Construction/Liens: We announced recently that due to the global credit crisis, a slowdown in the rate of project construction would be necessary. Shelbourne Development has been working closely with our contractors, advisors and design professionals over the past two years as this project has come to fruition, and while there have been some lien filings, we can assure you that everyone has been extremely well paid.


An investment in the last remaining undeveloped parcel of land on Lake Shore Drive represents an investment in the future of one of the leading cities in the world today and Shelbourne remains committed to realizing this vision."
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Old March 20th, 2009, 03:03 AM   #8459
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hm, the wikipedia article mentions it, but doesn't provide a citation. i wonder then... (just added a "needs citation" tag)
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Old March 20th, 2009, 04:06 AM   #8460
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That's good news... at least now we know they're most likely going to restart the construction in a year or two
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