[yankeesfan1000]

The economy still stinks for real estate in Chicagoland.

Developers would be crazy to add more supply when the South Loop and West Loop are full of empty buildings. Maybe Rahm is offering TIF subsidies for new development, becaus there's no way these proposals make any financial sense.

He did. Taxpayers are paying to build the staging platform for the tower. So while this tower looks like it'll start construction by the end of the year, taxpayers are paying for that construction. Not the developer. Once the developer starts to build the actual tower with equity partners and investors, then I'll be more convinced Chicago's office market is back.

 

[yankeesfan1000]

Did I say the TIF money was for the tower? No. Did I say the TIF money was something new? No.

What I said was that the TIF money is building the platform with which the tower will be built on, as well as an adjacent park.

" 'It’s a substantial amount of money. But it’s an incredibly complex project that spans a number of railroad tracks. It’s no small engineering feat to deck over an active railway. The ventilation alone is incredibly costly,' Reilly said." SunTimes

Ivanhoe has invested $300M in the building, but we'll see what happens after the rail span is built. I suggest you work on your reading comprehension.

 

[yankeesfan1000]

Uh... I wasn't talking to you... I was referring to 3521's posts. I should've made that more clear in my post, but the name calling was really mature though. It never ceases to amaze me how quickly people can jump to conclusions, and how arrogant and rude some people are. Well done.