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Old September 2nd, 2014, 12:13 PM   #10281
siamu maharaj
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I personally don't like this building. It totally ruins in the skyline. Maybe if it was a darker color, but in its current state it looks totally out of place.
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Old September 6th, 2014, 02:58 PM   #10282
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Is it still going to be built?
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Old September 6th, 2014, 03:29 PM   #10283
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nobody knows until now, but we all hope it .
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Old September 6th, 2014, 04:00 PM   #10284
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The history of this building has had more twists and turns than a piece of titanium in the hands of Frank Gehry. Personally, I'm not optimistic, but will continue to tune in every six months or so to see if anything is really happening.
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Old September 6th, 2014, 04:24 PM   #10285
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Quote:
Originally Posted by siamu maharaj View Post
I personally don't like this building. It totally ruins in the skyline. Maybe if it was a darker color, but in its current state it looks totally out of place.
Exactly. Chicago skyline is great as it is - this belongs in Dubai.
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Old September 6th, 2014, 04:52 PM   #10286
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If this were in Dubai, I'd think it would have to be at least 200 feet taller than the Burj Khalifa so that it would be the star in Dubai. As much as I love the Burj Khalifa, this design is superior to it.

I wonder how the people who say the Chicago Spire looks out of place reacted when the Trump Tower was built.
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Old September 6th, 2014, 05:23 PM   #10287
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I'll have to disagree for two reasons.....

1. This thing is massive if you've ever seen a 2,000ft+ building you'd know that it's completely amazing to see how huge it is. This isn't like the the burj with a big old spire on top, but with the spire it has floors running all the way up. It would be just huuuuggge.

2.I agree why care if it doesn't fit Chicago skyline, does the Trump building fit? Will wolf point "fit"? I hope everyone knows that EVERY skyline changes I don't think people bitched about it when the big black boxes went up, and said "what a piece of shit doesn't look like the Tribune Tower, tear that vomit down!" Or maybe they did but I don't hear people complain about the Hancock, or the Sears today. The Chicago Spire is awesome, I'm going to leave it at that.


All these designs look great let's build the Spire!

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Old September 6th, 2014, 05:26 PM   #10288
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I agree, but I only (hypothetically) want it to be taller than the Burj Khalifa because it has such a great design and deserves to be a star.
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Old September 6th, 2014, 05:29 PM   #10289
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I lament that a 680m building was approved here in my town then didn't go ahead so I say...build it and they will come...doomsayers are but a fragment of time...Your city is wonderful and should prosper and climb...I visited the then Sears and JH towers a ways back and know time stands still for no man...or any woman that likes to tag along...
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Old September 7th, 2014, 06:14 AM   #10290
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Quote:
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I agree, but I only (hypothetically) want it to be taller than the Burj Khalifa because it has such a great design and deserves to be a star.
well it will have titles to it like the tallest residential building and tallest in the u.s and in my opinion thats all that matters ,**** vanity height of the burj
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Old September 7th, 2014, 08:09 PM   #10291
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The tower would be an instant world icon if built. No doubts about it. But with all the shenanigan I see around it I am not sure this project is realistic.
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Old September 8th, 2014, 08:50 PM   #10292
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Chicago Spire Developer Looks To Bring In Additional Financial Backers

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Chicago Spire developer Garrett Kelleher wants to widen his search for money that will get his company out of bankruptcy and potentially restart work at the famed hole in the ground near the city's lakefront..

Kelleher's Shelbourne North Water Street L.P. admitted in court documents filed late last week that it and Atlas Apartment Holdings LLC have "throughout the last five months ... experienced certain delays in connection with their efforts to advance" the financing plan that is the linchpin of Shelbourne's exit from Chapter 11 bankruptcy protection.

"During this time, (Shelbourne)has received communications from third parties expressing interest in participating in the financing and/or development of the Spire," state documents filed Sept. 3 with the court by Shelbourne.

While Shelbourne also stated it "presently anticipates" being able to complete the restructuring deal with Atlas, it has asked Atlas for permission to talk to other potential funders, a request that must also be approved by Judge Janet Baer.

It's the latest chapter in a complicated saga that has had as many twists as the 150-story, Santiago Calatrava-designed residential skyscraper that Kelleher intended to construct at 400 N. Lake Shore Drive.

Under an agreement reached earlier this year by Shelbourne, Atlas and Related Midwest, which bought the debt on the property in 2013, Northbrook-based Atlas was to provide up to $135 million, either from its own funds or from other investors, to pay bankruptcy claims and in return it would become majority owner of the site. Kelleher was to continue guiding the project.

Related Midwest signed off on the settlement agreement because it called for the company, which is constructing residential towers of its own in several parts of Chicago, to receive $109 million-plus by Oct. 31. If Shelbourne opted to defer that payment until March 31, 2015, Related was to receive $22 million by Oct. 31 and more than $92 million by March 31. If those payments weren't made or Shelbourne doesn't move forward with the plan, Related would take title to the coveted 2.2-acre site.


[...]

According to the latest filing, if Atlas is replaced by another financial partner, the breakup fee rises to $7.75 million from the current $3 million. A hearing is set for Wednesday on the proposed changes to the financing plan....



Harry C. http://chicago.curbed.com/archives/2...le-roundup.php
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Last edited by desertpunk; September 8th, 2014 at 09:17 PM.
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Old September 10th, 2014, 11:07 PM   #10293
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JUDGE ALLOWS SPIRE DEVELOPER TO SEEK MORE FINANCIAL BACKERS

JUDGE ALLOWS SPIRE DEVELOPER TO SEEK MORE FINANCIAL BACKERS
By David Lee Matthews

A judge signed off today on a motion that will allow Chicago Spire developer Garrett Kelleher to pursue alternative funding sources he needs to keep the lakefront development and exit bankruptcy.


Mr. Kelleher's development venture filed a proposed amendment to its financing plan that allowed it to seek alternative financing sources to pay off its largest creditor, Related Midwest LLC.


Read More Here:

http://www.chicagobusiness.com/reale...ancial-backers
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Old September 11th, 2014, 07:24 AM   #10294
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In the magazine article it looks like the hole is filled with water. I hope there in no corrosion going on or they might have to start from scratch.

This is by far my favourite building planned for the US, let's just hope the condo market remains high for a few more years. There is definitely a bubble brewing again with massive condo towers sprouting up all over the US. Banking regulations and better due diligence can keep the market strong for a few more years, but there is bound to be a correction.
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Old September 11th, 2014, 01:54 PM   #10295
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Quote:
Originally Posted by Severiano View Post
In the magazine article it looks like the hole is filled with water. I hope there in no corrosion going on or they might have to start from scratch.

This is by far my favourite building planned for the US, let's just hope the condo market remains high for a few more years. There is definitely a bubble brewing again with massive condo towers sprouting up all over the US. Banking regulations and better due diligence can keep the market strong for a few more years, but there is bound to be a correction.
I think it's very premature to suggest that a property bubble is forming. The U.S. still hasn't recovered from the meltdown and while there may appear to be a lot of extra property entering the market, I would say that that's not really the case. Mostly it's high-end condo properties not suburban over-development.

As we've seen, the one market that appears to be furthest from saturation is the high-end. I agree that Chicago may not be the best place for a high-end mega-condominium at the present time but that is a volatile thing anyway.
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Old September 11th, 2014, 02:00 PM   #10296
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Quote:
Originally Posted by Severiano View Post
In the magazine article it looks like the hole is filled with water. I hope there in no corrosion going on or they might have to start from scratch.

This is by far my favourite building planned for the US, let's just hope the condo market remains high for a few more years. There is definitely a bubble brewing again with massive condo towers sprouting up all over the US. Banking regulations and better due diligence can keep the market strong for a few more years, but there is bound to be a correction.
It's artificially cheap to build at the moment because interest rates are low. If interest rates suddenly spike, they'll be in trouble - though we (and obviously most developers these days) know that won't be happening any time soon; or will occur gradually, at the least.

The 2008 "Property Bubble" was a bubble in credit anyways, not really in property.
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Old September 11th, 2014, 05:36 PM   #10297
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Quote:
Originally Posted by Severiano View Post
In the magazine article it looks like the hole is filled with water. I hope there in no corrosion going on or they might have to start from scratch.

This is by far my favourite building planned for the US, let's just hope the condo market remains high for a few more years. There is definitely a bubble brewing again with massive condo towers sprouting up all over the US. Banking regulations and better due diligence can keep the market strong for a few more years, but there is bound to be a correction.
the hole is not structural, they were going to start the core down there, then take down those walls and dig more. the building will be bigger than that hole.

the bubble is various world billionaires storing their money somewhere safe, american real estate. getting it out of russia or whereever, if they need to flee.
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Old September 12th, 2014, 08:07 PM   #10298
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I think it doesn't ruin the skyline... although in this image it looks pretty fat.
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Old September 12th, 2014, 10:05 PM   #10299
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Sigo esperando ...
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Old September 12th, 2014, 10:32 PM   #10300
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Quote:
Originally Posted by siamu maharaj View Post
I personally don't like this building. It totally ruins in the skyline. Maybe if it was a darker color, but in its current state it looks totally out of place.
I bet people said the same about these two which were once the tallest residential towers in the world. But now they are an icon of city of Chicago and a priceless piece of architectural history by architect Bertrand Goldberg.



Located just up the river from the Chicago spire site. One might consider these twins the ancestral roots of the spire design.

[IMG]http://i59.************/3584bq8.jpg[/IMG]
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