CHICAGO | 1000M (1000 S Michigan) | 805 FT | 73 FLOORS - Page 44

rgarri4 · #**861** Posted **Feb 7, 2018, 1:51 PM**

^^^As an Architect, God I wish we could tell our clients to shut up too.

Kumdogmillionaire · #**862** Posted **Feb 7, 2018, 8:33 PM**

It hurts my heart and my brain that the developers forced Jahn to scrap that design. It would have been a signature tower in Chicago forever

Steely Dan · #**863** Posted **Feb 7, 2018, 8:41 PM**

^ it almost makes me hope that they can't sell enough units to build the tower just to spite the development team for their stupidity.

almost.

JMKeynes · #**864** Posted **Feb 7, 2018, 9:30 PM**

Quote:

Originally Posted by dropdeaded209

regarding the design, i discussed the original version with helmut recently and he told me he preferred the step back look but the developer told him they had to scrap it and start over because "it looked like the tower was falling over".

Helmut's response was pretty perfect--"Vell, it doezzen't look zat vay to me."

That's the same stupid comment that 2WTC haters lodge.

230Roberto · #**865** Posted **Feb 12, 2018, 2:39 AM**

So this project might take longer due to lack of condo sales. Right? If not when is this scheduled to break ground.

LouisVanDerWright · #**866** Posted **Feb 12, 2018, 2:41 AM**

^^^ It will not break ground until the condo sales reach whatever threshold the bank has set. Until that happens this isn't scheduled to break ground at all.

Fvn · #**867** Posted **Feb 12, 2018, 2:57 AM**

I feel like I saw somewhere that it was aiming to break ground towards the end of this year, that doesn't seem like its impossible, but again, it's all dependent on pre sales.

Zerton · #**868** Posted **Feb 12, 2018, 4:18 PM**

Quote:

Originally Posted by dropdeaded209

regarding the design, i discussed the original version with helmut recently and he told me he preferred the step back look but the developer told him they had to scrap it and start over because "it looked like the tower was falling over".

Helmut's response was pretty perfect--"Vell, it doezzen't look zat vay to me."

These clients have been crazy. They want to tower to cantilever over the adjacent lot - it's going to have to extend that direction.

KWillChicago · #**869** Posted **Feb 22, 2018, 2:00 PM**

Is anyone else seeing the the "1000M Hello Beautiful" advertising pop up all over the place? Not only online but I also saw it in CS and Michigan Ave. Magazines. Does this mean pre-sales are going well and we can still anticipate a fourth quarter ground breaking?

Mr Downtown · #**870** Posted **Feb 22, 2018, 2:55 PM**

^Sounds more like sales are lagging, and so they've changed marketing approaches or agencies.

sentinel · #**871** Posted **Feb 22, 2018, 6:55 PM**

Quote:

Originally Posted by Mr Downtown

^Sounds more like sales are lagging, and so they've changed marketing approaches or agencies.

I think it's more typical than not; OBP, Vista and other 'marquee' buildings in recent years have been popping up in a variety of marketing platforms, both prior to and after breaking ground, so I don't think it's any different for this building.

AMWChicago · #**872** Posted **Feb 22, 2018, 7:26 PM**

This building feels like its been in development for years. You know the housing market is about to dip soon. This one needs to go up now or else it'll end up like Waterview.

the urban politician · #**873** Posted **Feb 22, 2018, 9:42 PM**

Quote:

Originally Posted by AMWChicago

This building feels like its been in development for years. You know the housing market is about to dip soon. This one needs to go up now or else it'll end up like Waterview.

Wrong. On every level.

Chi-Sky21 · #**874** Posted **Feb 22, 2018, 9:49 PM**

I think they are going to have a hard time getting this one to start, especially if One Chicago Square ramps up its sales. Seems like OCS has a better chance than this in my opinion. Which is fine..i like that building better anyways.

Fvn · #**875** Posted **Feb 22, 2018, 9:51 PM**

Quote:

Originally Posted by AMWChicago

This building feels like its been in development for years. You know the housing market is about to dip soon. This one needs to go up now or else it'll end up like Waterview.

This project should be underway by the end of the year, if/when the market "crashes" it wont be until next year I feel like, and if they have funding it shouldn't hurt them. By the amount of time its taken them, I'm sure that part of that is trying to get a loan. Its also only been under development for around 2 years which isn't uncommon for a building of this scale

.

Kngkyle · #**876** Posted **Feb 22, 2018, 10:10 PM**

Everyone predicting a market crash is a pretty good sign that the market is not going to crash.

left of center · #**877** Posted **Feb 23, 2018, 4:44 AM**

Quote:

Originally Posted by AMWChicago

This building feels like its been in development for years. You know the housing market is about to dip soon. This one needs to go up now or else it'll end up like Waterview.

Quote:

Originally Posted by the urban politician

Wrong. On every level.

^ This. Waterview failed for a good number of reasons, with the declining economy being more the cherry on top of the raging dumpster fire that project ended up turning into, as opposed to being a root cause.

And just because a recession is coming doesn't mean 1000M will be killed off. Far from it. It might delay the start until the housing market begins to cycle up, or it might go rental to avoid presale requirements and the more stringent loan environment to home buyers. Neither of those scenarios is anywhere close to the project imploding financially, as your example did.