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At 2.8 Million sq feet across 14 floors, you're talking roughly 200,000 sq. feet (or a building the size of 145 S. Wells) per floor. Hard to believe half that space is already spoken for.
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https://vimeo.com/269231549 There's some quick pans of renders in that area here as well: https://vimeo.com/287470483 |
^They've even knocked the logo out of the park!
Can't wait for that Meadow |
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Cboe nears deal to move HQ to Old Main Post Office
https://www.chicagobusiness.com/comm...in-post-office Quote:
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Damn....that 2nd video....Damn
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And thinking about it, I’m a Millennial (technically), or an “old Millennial” in my 30s, and my parents are Boomers. Generation X was quite literally skipped over, as a function of my father being an older dad. If I had kids I’d be an older dad as well and there would be no Generation Z. |
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You guys are enjoying the fruits of our labor. Cities were much more rough around the edges in the 90s when our generation was starting to live in them. |
It's amazing how quickly this is leasing up for a 2.5mil ft2 building. The updated estimated cost for rehabbing the OPO is up to $900 MILLION! I'm really glad this masterpiece is getting a new life and businesses are flocking to it, but for that price, someone could build a 1000ft+ office tower in the West Loop near Union Station. I know people have been saying that Chicago will never see a supertall office tower again, but the HQ relocations and Chicago's western shifting CBD might say otherwise in the future.
Thoughts? |
Wow, this is going to be another whole Merchandise Mart on the river full of workers when it opens! It's really going to energize this section of the southwest loop! The area south of it reminds me of the west loop in 2006 with sleepy low slung industrial buildings and surface lots. Maybe it will start a boom in that area soon. It looks amazing, I would love to work here.
Sorry if someone answered before, but is the roof garden going to be open to the public? |
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I think the initial idea was that it was going to cost $600 million for the renovation. Where did they say it's $900 million now? I think this is still alot cheaper than building a new construction supertall office building of that size. After this fills up, I think there would be alot more construction in the area a few years later if the economy is still doing ok. |
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Today, tenants are paying a premium to be in Fulton Market; they couldn't care less how tall their building is, so developers put up midrises that are super efficient and relatively inexpensive to build. There's also a steady stream of new buildings along Wacker and the South Branch for successful, more conservative companies (law firms, banks, etc) - these are taller because the land is more expensive, but still top out in the 700-800' sweet spot. |
If we did get another only office supertall, it would be one via technicality with a spire like the last two
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Fulton Market tenants want footage in that neighborhood and want it fast. You are correct that tall doesn't really enter into the calculus. I'm totally fine with a nice midrise office district that gives over to nightlife/hospitality after work and on the weekend with a smattering of for-rent residential. I am curious to see if the strong leasing at OPO will influence the city to revisit the DS zoning to the south in the near-ish future. |
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