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Old August 5th, 2008, 05:35 AM   #21
ChicagoNight
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This would be great, that lower garden is so interesting
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Old August 27th, 2008, 12:53 AM   #22
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Old August 27th, 2008, 02:56 AM   #23
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love it, ryan, but after enticing us and making us salivate:

you better show up at Waterview tomorrow morning at 5:00 a.m. with your hammer, nails, and tool box, take the elevator up, and get to work. Even if you do not have any compnay!
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Old August 27th, 2008, 04:47 AM   #24
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Amazing stuff, as always, ryan!
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Old August 27th, 2008, 05:00 AM   #25
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Ryan you mock us with your cruel mock illustration showing tall towers mocking smaller towers.
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Old August 27th, 2008, 05:05 AM   #26
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That is really cool!
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Old August 27th, 2008, 05:38 AM   #27
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Very nice. Would that garden really stay so green and lush during the winter? I'd like to live in that building..
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Old August 27th, 2008, 09:05 PM   #28
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Great work! But seeing the Waterview makes me sick. What could have been....
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Old August 28th, 2008, 07:30 AM   #29
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Quote:
Originally Posted by cheeps View Post
Great work! But seeing the Waterview makes me sick. What could have been....
And what very likely might still be...
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Old August 29th, 2008, 01:02 AM   #30
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Great work! But seeing the Waterview makes me sick. What could have been....
It still could be. Have a bit of faith.
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Old August 29th, 2008, 04:17 PM   #31
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It still could be. Have a bit of faith.
It still will be.
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Old August 29th, 2008, 11:32 PM   #32
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as much as i hate to say it, the residential market in chicago is dead. it will continue to be so for at least the next 24 months. when it returns, it will not be like it was in it's peak.

waterview will probably be bought out by someone locally when the market picks up and will then be VE'd or even downsized quite a bit depending on if they can find a reputable flag to take over the hotel component. it actually happens all the time.
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Old August 30th, 2008, 01:19 AM   #33
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Originally Posted by Helmet Yawn View Post
as much as i hate to say it, the residential market in chicago is dead. it will continue to be so for at least the next 24 months. when it returns, it will not be like it was in it's peak.

waterview will probably be bought out by someone locally when the market picks up and will then be VE'd or even downsized quite a bit depending on if they can find a reputable flag to take over the hotel component. it actually happens all the time.
Really? Where? Do you have examples?
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Old August 30th, 2008, 10:02 AM   #34
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locally, i think gammonly bought out a job in chicago on ohio & orleans a few years ago and renaisscant bought the 1000 s. michigan deal 2 years ago but still haven't broken ground on it.

many years ago, like in the late 80's, ray chin's deal on columbus & ohio was bought out after it initially got up to the garage then died. the ugly beige brick building at the corner of grand, erie, and milwaukee was started, stopped, then started again about 3 times before the city stopped construction on it before some suburban guys bought it out and put up the pos that's there now.

and let's not forget the struggle bill moran and howard weiner went through to get skybridge built. they needed to redesign the building and make it double-loaded which ate up a lot of time and when it finally went to market, the unit mix was way off (too BIG) and the project went belly up and stopped construction a couple of times before they had to make their gc a financial partner in the deal just to get the project built. the finished project has paper-thin windows, terrible concrete work and the interior finishes feel college dorm-like.

as far as hotels, there are a couple hotel/condo jobs in cleveland and one in newark i'm working on right now that had three different flags rotating interest depending on market spikes. the cleveland deal just killed it's condo component.

Last edited by Helmet Yawn; August 30th, 2008 at 10:08 AM.
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Old August 30th, 2008, 08:52 PM   #35
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^ What you said is correct. What you said before was a bit of an exaggeration. The residential market in chicago is far from dead. The current market conditions have simply weeded out the weak developers, which imo is a good thing for the long term strength of our city. The ease of obtaining loans in the past allowed some rather mediocre projects to get built that would never have made it in this market. A QUALITY project from a QUALITY developer- and you need BOTH to be QUALITY- will still have a decent chance even in these market conditions. For example, park michigan and 1000 s michigan are projects that have failed because the developer is an amateur. 680 N rush was a great design by a competent developer, but the price points were too high and the canyon ranch concept was wrong for that location. Even Mandarin Oriental, which imo is in the wrong location, is still alive and it's a massive project. Central station and LSE are still moving forward, and various other projects are simply waiting for creditors to gain a little more confidence in the market, so that they feel better about the financial risks. The demand for chicago housing is still strong, and developers with experience, balls, and the right connections can still produce. Chicago isn't the hardest place to build, but knowing how to play politics here is very important in any business venture. Some do it well, and some cave in.
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Old March 5th, 2009, 07:24 PM   #36
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This settles the question of whether this is a vision or proposal:

Quote:
Originally Posted by spyguy View Post
http://www.chicagorealestatedaily.co...age.pl?id=2166

Chicago: Conservatory Tower, 201 N Clark St., 1.1 million-sq.-ft. mixed-use development, February 2012, $140 million.
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Old March 5th, 2009, 08:22 PM   #37
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Quote:
Originally Posted by i_am_hydrogen View Post
This settles the question of whether this is a vision or proposal:
Spire is still on that list wooo hoo!!

Chicago: Chicago Spire, 400 E. North Water St., 115-story residential tower, March 2010, $2.2 billion.
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Old June 1st, 2009, 03:50 PM   #38
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Any NEW news on this project?
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Old June 4th, 2009, 09:12 PM   #39
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Hopefully someone will get smart and build this out as an apartment/hotel project. That way, when the market gets better, the building can convert those really nice, expensive apartments into condos. That seems to be the trend lately...developers building apartment towers with the mentality of converting to condos at a later date. Plus, financing will be much easier to secure.

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Old November 26th, 2015, 09:59 AM   #40
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BOOM!

Two more towers planned for Loop, one with 83 stories

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September 09, 2015


A rendering of the project planned at 215 W. Lake.

Two big high-rise projects—including one as tall as 83 stories—are in the works on Lake Street in the Loop, a stretch better known for its elevated train tracks than trophy buildings.

The bigger tower, at the northeast corner of Clark and Lake streets, would include 600 hotel rooms and 300 apartments, according a court document. The promoters of the project announced their plans in June, saying it would include two hotel brands new to Chicago—Live Aqua and Dream Hotels—but didn't disclose its location.

In late June, Mexican hotel chain Grupo Posadas and Las Vegas-based private-equity firm Bighorn Capital said they planned an 82-story tower in the West Loop that would include Live Aqua and Dream hotels and open in 2017. But a person familiar with the plan and public documents reveal they actually want to build the skyscraper at 201 N. Clark St., on the site of the Garvey Food Court.

In court testimony in May, Bighorn executive Mark Goldstein said Bighorn planned to tear down the existing building and build an 83-story high-rise with 600 hotel rooms and 300 apartments in its place, according to a recently filed transcript. Goldstein, who did not provide specifics about the hotels, was testifying in a trial in a Chapter 11 bankruptcy case over the site, formerly owned by Chicago developer Nicholas Gouletas. Bighorn's partner in the project is Steven Gouletas, son of the longtime American Invsco CEO.

Last year, the Bighorn-Gouletas joint venture signed a 20-year agreement under which New York-based Hampshire Hotels Management would run the hotels, according to a document filed with the Cook County Recorder. A Hampshire Hotels unit operates the Dream Hotel chain and has been hired to manage the U.S. expansion of the Live Aqua chain.

[...]

It's unclear whether they have the financing, track record and support from the city to pull off such a huge, complex real estate deal. Bighorn is a relative unknown in Chicago real estate circles and in the hotel industry, and recent legal squabbles between Bighorn and Gouletas raise questions about their partnership. They also need a zoning change from the city to accommodate such a big tower. Considering they haven't even filed plans with the City Council, a 2017 completion date is out of the question.

[...]
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