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Old March 19th, 2014, 09:44 AM   #10041
droneriot
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You're missing the point. Sell to who?
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Old March 19th, 2014, 09:59 AM   #10042
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Man, I'd hate a scaled down project. I'd rather they let the whole thing sit there another decade in the hope of getting the full scale building than to just throw up something shorter now.
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Old March 19th, 2014, 02:41 PM   #10043
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You're missing the point. Sell to who?
You'd still get good views of Lake Michigan from one side at only the tenth floor. I'm sure they could find people to sell to. Probably not for the prices of the higher floors but still better than nothing.
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Old March 19th, 2014, 02:47 PM   #10044
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It doesn't help that his designs are like the literal worst possible shapes for cost-cutting measures. Which is kinda funny, really. Everything is curved and bespoke. Every window pane a slightly different size and orientation etc etc.

You've got to imagine some low-level engineer being tasked with 'cheapening the project', taking one look at the tower's design and having a nervous breakdown.

It's a shame, though, because I think we can all agree the tower as designed is beautiful. It's just designed for a rich world and we don't live in a rich world.
One can always scale it down to cut costs, but I agree its shape is complex, which makes it more expensive than a 2000ft box...
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Old March 19th, 2014, 06:58 PM   #10045
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You'd still get good views of Lake Michigan from one side at only the tenth floor. I'm sure they could find people to sell to. Probably not for the prices of the higher floors but still better than nothing.
This. If lowrises next door could be sold, I'm sure low floors in tower like this could sell for more.
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Old March 25th, 2014, 03:22 AM   #10046
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ANy news about this lately?
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Old March 25th, 2014, 04:29 AM   #10047
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ANy news about this lately?
We should find out tomorrow if they will regain control of the site because the court decision is March 25th I believe, but even then we still don't know if it will be built. Seems like a long shot if you ask me
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Old March 25th, 2014, 06:04 AM   #10048
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I'm not talking about a Six Million Dollar Man "We have the technology, we can build it" sense of realistic. If a US developer had the will to finance a mile-high tower, we would be the first country to get it done.

But the saga of New York's 57th street towers (and in particular Extell's Nordstrom Tower) has demonstrated that, at least as far as luxury condos are concerned, around 1400-1500 ft. is the point at which the return-on-investment begins to diminish past what developers are willing to accept. It's helpful to remember that for the most part these are publicly traded companies with an obligation to their investors. They can't just decide to lose profit because of the whimsical notion that having the tallest or biggest anything matters.

It's not self-defeating to admit that there's just no economic incentive for developers to build that tall. If you're upset about it, blame capitalism, blame physics, and blame the sheiks and planned-economy governments who have chosen to eschew good economic sense for vanity projects. Frankly, given what the economy has been through, I'm comfortable with the knowledge that our developers are less interested in dick-measuring contests than in sensible investments.
Which ones are publicly traded? Wasn't able
To find any stock info online. Would like to buy shares
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Old March 25th, 2014, 06:26 PM   #10049
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Upon a quick search, Vornado and SL Green appear to be, at least of the major developers I'm familiar with. It may have been an exaggeration to say that most of them are publicly traded, but the bottom-line principle still stands.
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Old March 25th, 2014, 09:35 PM   #10050
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Lets all keep our fingers & toes crossed.
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Old March 25th, 2014, 11:37 PM   #10051
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The current situation arround the Spire gave me a state of careful optimism. I would love to see a true megatall in the US, hell, I would beg to see a true megatall in the US. The US can pull this off. It is realistic. But nothing is for certain. We need to wait and see, although the waiting is killing me. But, I still put renders of the Spire into my wallpaper collection

This is certainly an ambitious project. Each generation had loads of pure economic projects, take NYc for example. The WTC Twin Towers were a visionary project while all of the dozens of other tall buildings built in the 70's in NYC were purely economic projects. As said, each generation has loads of pure economic projects but there's always one or two visionary projects that boldly go where no one has gone before. These are the projects that have spirit and that create landmarks and marvels. These are the most noble construction projects because they provide something more than just a building filled with people. These buildings provide vision, and a bold reassurance that limits are there to be beaten. To me such visionary projects always were ver reassuring of the beautiful human quality of building and overcomming problems. That's the reason why I love this project so much

As mentioned, I'll remain cautiously optimistic until we see (or don't see) financing for this tower beginning to be secured
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Old March 26th, 2014, 08:38 PM   #10052
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Bankruptcy Settled... Let's hope these guys are good at selling so this thing can get built

From the Trib
http://www.chicagotribune.com/busine...,3684918.story
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Old March 26th, 2014, 09:36 PM   #10053
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Bankruptcy Settled... Let's hope these guys are good at selling so this thing can get built

From the Trib
http://www.chicagotribune.com/busine...,3684918.story
Nothing's for certain until they get financing but I have a hunch this time the Spire might rise and dominate Chicago forever ........

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Old March 26th, 2014, 09:52 PM   #10054
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Quote:
Originally Posted by Kanto View Post
The current situation arround the Spire gave me a state of careful optimism. I would love to see a true megatall in the US, hell, I would beg to see a true megatall in the US. The US can pull this off. It is realistic. But nothing is for certain. We need to wait and see, although the waiting is killing me. But, I still put renders of the Spire into my wallpaper collection

This is certainly an ambitious project. Each generation had loads of pure economic projects, take NYc for example. The WTC Twin Towers were a visionary project while all of the dozens of other tall buildings built in the 70's in NYC were purely economic projects. As said, each generation has loads of pure economic projects but there's always one or two visionary projects that boldly go where no one has gone before. These are the projects that have spirit and that create landmarks and marvels. These are the most noble construction projects because they provide something more than just a building filled with people. These buildings provide vision, and a bold reassurance that limits are there to be beaten. To me such visionary projects always were ver reassuring of the beautiful human quality of building and overcomming problems. That's the reason why I love this project so much

As mentioned, I'll remain cautiously optimistic until we see (or don't see) financing for this tower beginning to be secured

I am positive that almost anyone on this forum as well as in US would love to see something that extraordinary as Spire to really happen. Point is from the get go I thought that the way they are going about this tower is a bit light. Like you have a hunch these guys were not serious enough about it. I can only hope that this time around they will rethink this project.

One way of doing it is by making it a mix use and add stores, restaurants and observation deck on top. that will add tremendous amount of value to it and make it much more possible to build. it will require some change in the design, but it is very doable.
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Old March 26th, 2014, 11:49 PM   #10055
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I am positive that almost anyone on this forum as well as in US would love to see something that extraordinary as Spire to really happen. Point is from the get go I thought that the way they are going about this tower is a bit light. Like you have a hunch these guys were not serious enough about it. I can only hope that this time around they will rethink this project.

One way of doing it is by making it a mix use and add stores, restaurants and observation deck on top. that will add tremendous amount of value to it and make it much more possible to build. it will require some change in the design, but it is very doable.
Mixed use is a great idea.

They do seem a little non-chelant about the whole thing but then again they did actually start construction of the building back in 2008 so they have to be somewhat serious.

There are many more hurdles to be crossed obviously but good news is good news, and the US just might see it's first megatall. I wouldn't want it in any other city but Chicago (and maybe NYC)
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Old March 26th, 2014, 11:57 PM   #10056
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At the very least it's something. Something is better than nothing.

Even if it's two dudes in an office somewhere having a swordfight with two scale models of the Chicago Spire, that's progress. A strange definition of progress, but progress nonetheless.

How many projects get scrapped before they even make it to the drawing board? 90%? 95? The Chicago Spire has a chance to exist one day. A slim chance, but that's enough for me to get excited.
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Old March 27th, 2014, 12:46 AM   #10057
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At the very least it's something. Something is better than nothing.

Even if it's two dudes in an office somewhere having a swordfight with two scale models of the Chicago Spire, that's progress. A strange definition of progress, but progress nonetheless.

How many projects get scrapped before they even make it to the drawing board? 90%? 95? The Chicago Spire has a chance to exist one day. A slim chance, but that's enough for me to get excited.
I would say our chances are now better than slim for several reasons.

A. The foundation already exists
B. Condos were sold before the market collapsed
C. They now have control of the site if they can pay, and they seem pretty confident they can get the money.

However there are also cons like...

D. They might be overconfident and now even realize how much this project will cost and how many hurdles they have yet to overcome.
E. They are not able to pay Related on time and lose control of the site.

At the end of the day I think the news we keep hearing will be good and that eventually will lead to something great on this site.

Here's to hoping
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Old March 27th, 2014, 01:57 AM   #10058
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Let's hope they rethink the observation tower as I had read a recent article how popular and financially beneficial they are to other Chicago landmarks.
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Old March 27th, 2014, 02:26 AM   #10059
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Let's hope they rethink the observation tower as I had read a recent article how popular and financially beneficial they are to other Chicago landmarks.
I think there were a number of reasons they didn't have one, i.e. a seperate entrance, limited street access, but maybe they could have some kind of limited occupancy observation deck. Where you sign up for specific times and its only in small groups. I feel like they could charge more than other decks and people would still pay.
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Old March 27th, 2014, 04:05 AM   #10060
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I think there were a number of reasons they didn't have one, i.e. a seperate entrance, limited street access, but maybe they could have some kind of limited occupancy observation deck. Where you sign up for specific times and its only in small groups. I feel like they could charge more than other decks and people would still pay.
That might work. A top floor for the residents but could be groups or rented out. Something like the Gerkin in London has but without a full restaurant. An event venue sort of thing. Still wish they could fit a small 5 star hotel in there but that never was in the latest plan.

http://searcys.co.uk/venues/the-gher.../#.UzN4aMEo7mI

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