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Old December 22nd, 2009, 02:54 AM   #9361
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Looking at all the exposed steel and concrete is there a time limit as to when all of this exposed material (in the Chicago winters and summers) will beging to degrade to the point where it will need replacing?
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Old December 22nd, 2009, 03:11 AM   #9362
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it looks like it needs to be replaced already if they want to actually build it.
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Old December 22nd, 2009, 03:19 AM   #9363
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Quote:
Originally Posted by LAX 777 View Post
Looking at all the exposed steel and concrete is there a time limit as to when all of this exposed material (in the Chicago winters and summers) will beging to degrade to the point where it will need replacing?
i think that steel is just to hold the walls in the hole up(for now), it's not structural steel. once they build the basment it will be replaced
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Old December 22nd, 2009, 04:58 AM   #9364
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i think that steel is just to hold the walls in the hole up(for now), it's not structural steel. once they build the basment it will be replaced
Correct, this is just shoring so they can construct the core. The steel and concrete you see will all be removed as part of the excavation for the parking garage!
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Old December 22nd, 2009, 06:07 AM   #9365
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mmo

ok.Fantastic
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Old December 22nd, 2009, 06:47 PM   #9366
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I just watched the video,well it seems like there's still hope but as the interviewed man said "the clock is ticking"...It goes without saying that "Spire" cannot afford to remain "on hold" for ages.This 1 year delay's gonna cost much money(if it was to get built)as it wouldn't be delivered in time,and if the situation was to carry on,at some point I'm afraid a decision(likely to be heartbreaking)will surely have to be made.If Chicago had got the Olympics,things would have obviously been easier.(We've had the same issues when Paris lost to London for the 2012 summer games,some big projects have been heavily delayed and might never get built.)
However,fingers crossed for the gorgeous Spire.
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Old December 22nd, 2009, 09:13 PM   #9367
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Quote:
Originally Posted by Jex7844 View Post
I just watched the video,well it seems like there's still hope but as the interviewed man said "the clock is ticking"...It goes without saying that "Spire" cannot afford to remain "on hold" for ages.This 1 year delay's gonna cost much money(if it was to get built)as it wouldn't be delivered in time,and if the situation was to carry on,at some point I'm afraid a decision(likely to be heartbreaking)will surely have to be made.If Chicago had got the Olympics,things would have obviously been easier.(We've had the same issues when Paris lost to London for the 2012 summer games,some big projects have been heavily delayed and might never get built.)
However,fingers crossed for the gorgeous Spire.
True.

The longer it's on hold, the more chance buyers will throw in the towel and ask for their deposits back..

It does mention they did get a bridge loan recently. Probably wasn't anything more then a stay of execution. If something isn't finanlized in the next six months I think it could get officially cancelled.

If Shelbourne decides to hold onto the land, he could always try again years down the road. But probably won't be as grand or as nice as the Spire.
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Old December 23rd, 2009, 08:11 PM   #9368
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I'm surprised. If I had money put down on the Spire and saw this mess I would have thrown in the towel a long time ago and gone to Trump or Hancock if I wanted a condo super-high in the sky.
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Old December 25th, 2009, 11:34 PM   #9369
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I'm surprised. If I had money put down on the Spire and saw this mess I would have thrown in the towel a long time ago and gone to Trump or Hancock if I wanted a condo super-high in the sky.
Most of the buyers are (were) speculators who had hoped to flip the properties. I doubt even half of the so-called "30% pre-sales" would be willing or able to close since the 2008 collapse.

I think Kelleher is getting ready to pull the plug.
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Old December 25th, 2009, 11:45 PM   #9370
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Most of the buyers are (were) speculators who had hoped to flip the properties. I doubt even half of the so-called "30% pre-sales" would be willing or able to close since the 2008 collapse.

I think Kelleher is getting ready to pull the plug.
People have been saying that for over a year now, nothing's happened.
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Old December 26th, 2009, 01:21 AM   #9371
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The type of buyers in a project like this are multi-millionaires. Most can afford to wait, but how long will they is the question. In a typical project like this it's standard to put about 5% down. To reserve a million dollar condo, that's $50,000 (and adding a little interest each month). Ty Warner probably put around $2 million down, on a penthouse that's no longer worth $40 million.

I would be shocked if many of the early buyers would be willing to close on the condos knowing their value has plummeted. The values will come back, but it'd take years.

I just don't see this one going forward in this kinda economic climate.

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Old December 27th, 2009, 06:14 AM   #9372
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A shame really. I had hope that this thing might get built, but at this point I think it's doom. Still hoping that I'm wrong though.
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Old December 29th, 2009, 12:59 AM   #9373
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Quote:
Originally Posted by DFDalton View Post
Most of the buyers are (were) speculators who had hoped to flip the properties. I doubt even half of the so-called "30% pre-sales" would be willing or able to close since the 2008 collapse.

I think Kelleher is getting ready to pull the plug.
And you know this how?
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Old December 29th, 2009, 09:51 AM   #9374
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Word??????
Chicago only... USA, maybe.
Yes, that's right, the world. To me and many other other people, this will be the world's best landmark building, the most recognizible one. Not the Burj Dubai or any other.
Why? Well, two reasons: the first, because it is a great design and will have an impressive height.
And the second one: it's Chicago! The city with skyscrapers from all times, where all styles mix to make a special landscape. I've nothing against Dubai, or any other "emerging" city or country, but Chicago's unique.
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Old December 29th, 2009, 07:23 PM   #9375
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No need to build this ugly building, nothing special at all.
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Old December 29th, 2009, 07:31 PM   #9376
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No need to build this ugly building, nothing special at all.
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Old December 30th, 2009, 12:27 AM   #9377
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Quote:
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No need to build this ugly building, nothing special at all.
come on! it is a nice round thingy
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Old December 30th, 2009, 06:04 AM   #9378
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Quote:
...this will be the world's best landmark building...
I'd like to believe you...

Quote:
No need to build this ugly building, nothing special at all.
"De gustibus non disputandum est" However, I don't think so that you will be able to find a lot of people which share Your opinion...
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Old December 30th, 2009, 06:06 AM   #9379
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No need to build this ugly building, nothing special at all.
Troll.
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Old December 30th, 2009, 10:09 AM   #9380
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I just can't wait to see this building under construction.. I hope that 2010 would be a better year for the constructions at USA..
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