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Old December 12th, 2009, 06:47 AM   #9301
Westyguy
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I will only believe this when there are workers on site and construction happening.
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Old December 12th, 2009, 06:49 AM   #9302
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Quote:
Originally Posted by DFDalton View Post
Hold your horses. Stop the party. The report above doesn't say anything new. We've known that Kelleher was "in talks" with the construction union for a couple of weeks now. The story doesn't indicate there is any deal worked out. Nothing has changed. Yet.
I think the news is still trickling out, I'm sure most people thought the project was likely dead.
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Old December 12th, 2009, 07:22 AM   #9303
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The developer guarantees a buyer to find a tenant for the unit at an annual rent that's equivalent to a percentage of the purchase price, e.g. 7%. The guarantee is typically offered for two years and, in some instances, is given in the form of a cash or escrowed credit at closing.

It's pretty easy to see how this kind of an offer distorts the economics of the purchase and inflates market values.

Many deals that have offered a rent guarantee have resulted in a substantial number of foreclosures at the end of the guarantee period.
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Old December 12th, 2009, 07:34 AM   #9304
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In any case, it's looking more and more like pigs can fly.
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Old December 12th, 2009, 08:57 AM   #9305
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Quote:
Originally Posted by Swiddle View Post
Some I see right off hand:

- orange dumpster is missing
- wooden fence (upper right corner of plot) is moved
- objects (posts?) near said fence are missing
- container/object next to corner of office trailer is missing
- icicles in hole are gone
- green traffic sign is missing
..looks like you got most of them! The object by the trailer was a porta-potty. What appears to be a sign at the foot of the ramp is gone. An object behind the trailer is gone.
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Old December 12th, 2009, 07:00 PM   #9306
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At least we should know the true fate of this tower in the following weeks. If the deal goes through, great, work should start up this spring. If not... GG
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Old December 13th, 2009, 02:46 AM   #9307
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The Silver Lining we've all been waiting to hear!


Let's hope this is more than posturing by the developer, and that there is a real chance here....
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for the Pelasgians, too, were a Greek nation originally from the Peloponnesus
The Roman Antiquities of Dionysius of Halicarnassus
http://penelope.uchicago.edu/Thayer/...assus/1B*.html

Macedonia, of course, is a part of Greece". Strabo, VII, Frg. 9
http://penelope.uchicago.edu/Thayer/...ragments*.html

But north of the gulf, the first inhabitants are Greeks called Epirotes....
Procopius
http://books.google.com/books?id=9m6...page&q&f=false

Last edited by chicagogeorge; December 13th, 2009 at 03:29 AM.
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Old December 13th, 2009, 11:36 PM   #9308
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Let's not get our hopes up too much. It is Chicago+unions that we're talking about. The two don't have a great track record together of getting stuff done. But I still am hoping we will get this sexy baby built. Chicago deserves it after losing out on the Olympics.
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Old December 14th, 2009, 12:33 AM   #9309
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Quote:
Originally Posted by boyerling3 View Post
Let's not get our hopes up too much. It is Chicago+unions that we're talking about. The two don't have a great track record together of getting stuff done. But I still am hoping we will get this sexy baby built. Chicago deserves it after losing out on the Olympics.
Huhh? That's all they've been saying that the unions GET stuff done! The unions built Marina City back when and have spent a billion dollars on projects in Chicago to this day. They have at least until the end of the month, cool your jets!
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Old December 15th, 2009, 12:56 AM   #9310
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WE WANT THE SPIRE!!COME ON CHICAGO!!!!!
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Old December 15th, 2009, 03:37 PM   #9311
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Quote:
Originally Posted by bububoost View Post
WE WANT THE SPIRE!!COME ON CHICAGO!!!!!
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Old December 15th, 2009, 08:13 PM   #9312
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http://www.artinfo.com/news/story/33...-spire-rescue/


CHICAGO—The dream of creating North America’s tallest building — architect Santiago Calatrava’s Chicago Spire — has found new life. Tom Villanova, leader of the Chicago and Cook County Building and Construction Trades Council (CBTC) has announced that his organization will provide a $170 million loan to the project’s current developer, Shelbourne Development Group, in an effort to restart work on the building, which could create as many as 1,000 new construction jobs.
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Old December 15th, 2009, 08:14 PM   #9313
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http://www.artinfo.com/news/story/33...-spire-rescue/


CHICAGO—The dream of creating North America’s tallest building — architect Santiago Calatrava’s Chicago Spire — has found new life. Tom Villanova, leader of the Chicago and Cook County Building and Construction Trades Council (CBTC) has announced that his organization will provide a $170 million loan to the project’s current developer, Shelbourne Development Group, in an effort to restart work on the building, which could create as many as 1,000 new construction jobs.
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Old December 15th, 2009, 09:03 PM   #9314
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..

Last edited by SGMD1; September 12th, 2013 at 07:41 PM.
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Old December 15th, 2009, 09:07 PM   #9315
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wow 1000 that so much than freedom tower
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Old December 15th, 2009, 09:21 PM   #9316
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Quote:
Originally Posted by cbotnyse View Post
http://www.artinfo.com/news/story/33...-spire-rescue/


CHICAGO—The dream of creating North America’s tallest building — architect Santiago Calatrava’s Chicago Spire — has found new life. Tom Villanova, leader of the Chicago and Cook County Building and Construction Trades Council (CBTC) has announced that his organization will provide a $170 million loan to the project’s current developer, Shelbourne Development Group, in an effort to restart work on the building, which could create as many as 1,000 new construction jobs.
Great news! But before I start dancing and frolicking, I want to wait for another corraborating source bigger than artinfo.com
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Old December 15th, 2009, 09:23 PM   #9317
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Has this been confirmed as a done deal?

No other news sites have covered this announcement, and the article at artinfo.com seems to be re-hashing info from the well-known announcement on Dec. 8th.
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Old December 15th, 2009, 09:24 PM   #9318
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Not sure this has this been confirmed as a done deal.

No other news sites have covered this announcement, and the article at artinfo.com seems to be re-hashing info from the well-known announcement on Dec. 8th. I still think chances are good, but wait for SOLID official info before popping the champagne...
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Old December 15th, 2009, 09:37 PM   #9319
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Quote:
Originally Posted by Flubnut View Post
Has this been confirmed as a done deal?

No other news sites have covered this announcement, and the article at artinfo.com seems to be re-hashing info from the well-known announcement on Dec. 8th.
The major difference is that past-tense language is also being used.
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Old December 15th, 2009, 09:46 PM   #9320
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Yes, but the Shelbourne quote is exactly the same from the previous article (emphasis mine):

Quote:
“The loan would mean 7.5 million man hours of union labor...
Not enough consistency or new material here to make me believe it's not just a re-hashed story by a tense-challenged blogger.
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