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muted
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Discussion Starter · #1 · (Edited)
Height: ~213m/700ft
Floor count: 50
Location: West Randolph and North Riverside Plaza
Construction end:
Architect: Lucien LaGrange Architects
Developer: Prime Group, Inc.





1.2 msf office tower, 20,000 sf retail, riverwalk

Reschke brings on team to lease tower

By Andrew Schroedter, Feb. 14, 2008


(Crain’s) — Prime Group Inc. has tapped veteran landlord reps Nancy Fendley and James Philbin to market a Lucien Lagrange-designed office tower planned for the West Loop.

Their hiring marks the beginning of the Chicago-based Prime Group's push to land a big-name tenant at the proposed 50-story high-rise at 400 W. Randolph St.

The 1.25-million-square-foot steel and glass tower, scheduled to be completed in 2011, could rank as one of the top "trophy buildings in the city," said Michael Reschke, Prime Group's chairman and CEO.....

Continue reading at: http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=28199

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400 West Randolph
Prime is currently developing an office tower on
one of the last riverfront sites available in the
Chicago Central Business District. Plans include
1,200,000 RSF of Class A+ office space and
20,000 RSF of ground floor and riverwalk retail
space.

The office development project will be located
in the West Loop central business district of
downtown Chicago, located at 400 West
Randolph Street, across the street from Boeing
Corporation's global headquarters.

The building will be one of the most
technologically efficient office buildings in the City
of Chicago and is expected to receive LEED Gold
certification.

Building amenities will include a 325-car parking
garage with a car wash and car rental service,
conference facilities, executive health club, river
walk retail/restaurants, concierge, and outdoor
gardens and terraces.

The building will feature spectacular riverfront and
cityscape views in all directions.

http://www.primegroupinc.com/
 

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Banned
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i like it. nothing spectacular, but a great tower nonetheless. it will only add to the awesomeness that is chicagos skyline.

bring it on, i say :)
 

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2,374 Posts
exactly, it's noting special. but a good addition to the greatest skyline!
 

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exactly, it's noting special. but a good addition to the greatest skyline!
I'm with you on that. It's not really something incredible, but it'll fit in nicely. There's nothing "wrong" with the design at all. I kind of like it, but the height fits the design very well.
 

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Whiskey Tango Foxtrot
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55,632 Posts
The on-again off-again plans for 400 West Randolph are on once again.

It’s official. A vacant downtown site that awaits the next construction boom has a new developer in charge.

John O’Donnell said he closed the deal in December for a nearly half-acre parcel at 400 W. Randolph, on the west bank of the Chicago River between Randolph and Lake. O’Donnell is a former executive of the John Buck Co. who is now putting together deals on his own.

The site is alongside Amtrak-owned railroad tracks that feed Union Station. O’Donnell would need an air rights agreement to build over the tracks. He said he’d like to put up an office building in the 40- to 50-story range, covering some 900,000 to 1.2 million square feet, similar to the Wacker Drive buildings Buck erected while O’Donnell worked there.

Don’t look for it to happen soon. O’Donnell said he’s betting the market will be ready for his building by 2016 or 2017.
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Ex-Buck exec pays $12.5 million for West Loop site

Mr. O'Donnell confirmed his plans to put an office building at the site but offered few other specifics with the purchase of adjacent parcels, as well as city approval for the project, still pending. Mr. Reschke had once planned a 50-story, 1.25-million-square-foot tower on the site, and Mr. O'Donnell's is expected to be of a similar scale.

To do so, the developer also will need to acquire an adjacent city-owned parcel and air rights from Amtrak, since a large building would jut out over the train tracks. Mr. O'Donnell, who retired as president and vice-chairman of the John Buck Co. in 2009, is one of several developers courting big anchor tenants for office sites and won't be able to secure a construction loan until he lands one.

“This isn't going to be a ‘Field of Dreams' scenario of ‘If you build it, they will come,' ” says Shawn Mobley, Chicago market leader for Cushman & Wakefield Inc., which seeks to boost its landlord leasing practice here. “I don't see any appetite for spec development. It will be predicated on the decisions of a half-dozen large tenants.”

Overall downtown office vacancy was 15.4%, down from 17.0% a year earlier, according to fourth-quarter statistics from the Chicago office of CBRE Inc. The West Loop was 14.5% vacant, down from 15.5% a year earlier.

Although much space still remains and tenants continue to secure favorable rents and concessions, large blocks of high-rise, Class A space have become relatively scarce, according to many brokers. “I think the market is tight for A-plus office buildings in the West Loop,” Mr. O'Donnell says.

Robert Chodos, a Colliers Inc. principal who represents tenants, says there are tenants in the market that collectively are looking for 7.5 million to 8 million square feet of space by 2017, about the time when a large office tower would reach the finish line. He anticipates a developer announcing a new building sometime in 2012. “I think one will go,” Mr. Chodos says. “That will unleash another one.”

[...]
Read more: http://www.chicagorealestatedaily.c...12-5-million-for-west-loop-site#ixzz2Y4KwTr7P
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Whiskey Tango Foxtrot
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Update ~

More than a year later, 400 W. Randolph is still mired in the approval process while various former developers deal with their own legal hassles from prior attempts to build at the site:

Former Prime Group exec faces $8.5 million lawsuit

By: Ryan Ori June 12, 2013

A former Prime Group Inc. executive faces an $8.5 million lawsuit over debt involving riverfront land in the West Loop where another Chicago developer is trying to get a 1.2 million-square-foot office tower off the ground.

Chicago-based MB Financial Bank N.A. alleges David Trandel has failed to live up to a settlement agreement on $16.4 million in delinquent loans on the parcel at 400 W. Randolph St. and one in Texas.

John O'Donnell, a former John Buck Co. executive, acquired the West Loop site for $12.5 million in December 2011 and is trying to gain city approval to develop an office high-rise. The lawsuit does not affect Mr. O'Donnell's development.

[...]

At the West Loop site Mr. Trandel left behind, Mr. O'Donnell's plan has drawn positive reviews from brokers who represent office tenants. But he has yet to win the endorsement of Ald. Brendan Reilly (42nd), who has stated his preference for more public space along the Chicago River.

[...]
Read more: http://www.chicagorealestatedaily.c...-exec-faces-8-5-million-lawsuit#ixzz2Y4MJFl3c
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