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Old November 16th, 2013, 03:32 PM   #9721
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Quote:
Originally Posted by Funkyskunk2 View Post
If there is enough room and the views are clear for two smaller towers, what was the point of a 600m tower in the first place? Are they trying to burn money?
Prestige ad having the tallest in the U.S.. Also don't forget Chicago's inferiority complex to overdue things.

But hey, I don't mind having Chicago a megatall at all. On the contrary, I'd follow this project very closely.
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Old November 16th, 2013, 03:34 PM   #9722
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Here's hoping that the naysayers among you wind up with egg on your faces.
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Old November 16th, 2013, 06:06 PM   #9723
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Santiago Calatrava is the architect of the Chicago Spire.

That means that if the Spire is said to cost 2.4 billion dollars, it will finally cost 4.8 billion...

http://www.nytimes.com/2013/09/25/ar...fans.html?_r=0
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Old November 16th, 2013, 06:15 PM   #9724
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Originally Posted by scalziand View Post
IMO, something like this is more likely to be built than the original Spire. Here's a design that popped up last month in an Urban Land Institute Magazine article about Chicago development.

I'm a little more disappointed than I thought I would be. I would have liked a shorter building with the same design. This reminds me of the Federation Towers. Oh well. At least something is being built.
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Old November 16th, 2013, 06:20 PM   #9725
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not enough room to build these 2 buildings there. I am not even going to discuss the point that it is not going to be such a prestigious building.

IMHO someone should retake the original proposal and make it happen. Maybe with an addition of spire and viewing platform for tourists. It will bring a huge amount of money for any developer so all the expenses will be paid in 3-4 years.
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Old November 16th, 2013, 06:22 PM   #9726
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Quote:
Originally Posted by Funkyskunk2 View Post
If there is enough room and the views are clear for two smaller towers, what was the point of a 600m tower in the first place? Are they trying to burn money?
I agree. The 2 tower proposal above makes more sense and probably contributes more to the city than a megatall full of condo's that are bought for investment purposes.
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Old November 16th, 2013, 06:22 PM   #9727
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I agree. I wonder how famous these two towers will be after they are actually completed.
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Old November 16th, 2013, 06:54 PM   #9728
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Theyll be a lot more famous than the hole in the ground thats there now.
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Old November 16th, 2013, 06:55 PM   #9729
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Quote:
Originally Posted by onewtclover View Post
I agree. I wonder how famous these two towers will be after they are actually completed.
"Will" is not the right word because it is far from certain that they will ever rise. I'd even say the Spire is more probable to rise than those two because the Spire has finished foundations while the foundations would have to be first demolished and after that started from scratch for those two bland towers
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Old November 16th, 2013, 07:12 PM   #9730
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The current foundation work could be reused in the construction of one of those two towers. It wouldnt have to be demolished.
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Old November 16th, 2013, 07:32 PM   #9731
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But from this pic it looks like the SPire foundation is right between the footprint of those two proposed towers, also, the shape is different:

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Old November 16th, 2013, 07:51 PM   #9732
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i think the two tower project is much better than the spire. the spire simply does not fit, i really want a 600m building, but it has to be in the middle of the skyline and should be a box or at least nothing turning. but that is just my opinion
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Old November 16th, 2013, 07:57 PM   #9733
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Quote:
Originally Posted by pichuneke View Post
Santiago Calatrava is the architect of the Chicago Spire.

That means that if the Spire is said to cost 2.4 billion dollars, it will finally cost 4.8 billion...

http://www.nytimes.com/2013/09/25/ar...fans.html?_r=0
In 2009 the cost to build the Spire was estimated at $1.4 billion, when Garret Kelleher sought to partner with a union pension fund for financing. Some costs have declined since then but it's a fair guess that the Spire would cost $1.5 billion overall. Given the desired return on equity of 2X for condos, Related would need $2.5-3 billion in sales to make the numbers work. That is an extremely lofty goal for a tower anywhere, much less in Chicago which is just now seeing a modest recovery in the residential sale market. You're basically asking New York numbers for a project in Chicago.
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Old November 16th, 2013, 08:39 PM   #9734
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Great point Desertpunk. 432 Park is being built for $1,000,000,000 and is expected to get only $2,100,000,000 back in sales. They'll really have to do something major to make this work.
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Old November 16th, 2013, 08:41 PM   #9735
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Quote:
Originally Posted by KillerZavatar View Post
i think the two tower project is much better than the spire. the spire simply does not fit, i really want a 600m building, but it has to be in the middle of the skyline and should be a box or at least nothing turning. but that is just my opinion
imo the spire would fit great, and i would love to see it back on track though i doubt it will really happen.
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Old November 16th, 2013, 08:43 PM   #9736
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I agree ZZII. The design is fantastic and I can definitely see it in Chicago.
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Old November 16th, 2013, 08:54 PM   #9737
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In the current political and economic climate in Chicago, the Spire has no chance. Practically the only buildings going up right now are rental apartment buildings. No one with any sense wants to potentially be trapped in an unsellable high-end condo in a cash-strapped city where the politicians see you as a bottomless ATM to be mercilessly tapped. You'd have to be borderline insane to buy a multimillion dollar condo in Chicago these days.

Now if they could cut costs, do some brutal WTC-style value engineering and turn the Spire into a rental building, it may have a chance. Shortening the building by 30 - 50 floors and eliminating the twisting floor plates might make it feasible.
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Old November 16th, 2013, 08:56 PM   #9738
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I hate the idea of two smaller towers, but that would be a great swimming pool in between them...
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Old November 16th, 2013, 08:59 PM   #9739
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I want to see a 350-storey tower rise in that spot!!
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Old November 16th, 2013, 09:13 PM   #9740
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Quote:
Originally Posted by Knitemplar View Post
I want to see a 350-storey tower rise in that spot!!
Oh yeah? Well I want to see a 9,001 story tower rise in this spot!!
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