THis is another beautiful tower!

https://images2.imgbox.com/51/45/JBe9a2j6_o.jpg

https://images2.imgbox.com/67/1c/swyAMbT4_o.jpg

https://images2.imgbox.com/8b/84/swH69Aak_o.jpg

rgarri4, my friend, you do amazing work. Just spectacular! Your models give such an accurate glimpse as to what could be in our future. Thanks again :)

Crossing my rebar fingers that this view materializes within 5 years.

No kidding! Truly an exciting time. It's going to change the whole perspective of that area.

dude thank you so much for these.

elite content.

Or which developers are willing to take a punt on timing the delivery of units with the eventual recovery. Even if we had a brief recession in 2019 (say over 4 quarters), none of these would be ready to close sales before things started heading up again. So unless something happens to change the medium-term thesis, a recession doesn’t really matter as long as they don’t have too many balls in the air. The 2008 crash was different because you actually had major banks struggling with solvency; no one could place a bet on anything.

But I think what he meant is that, if Amazon chose Chicago, the local high-end condo market would probably grow through any national recession anyway, whether it was actual amazon employees or just speculators looking to flip to them. Hell, if Amazon chose Chicago then I might look for a 2-bedroom to buy quickly at the right price.

^ Amazon choosing Chicago is a long shot (technically all the locations are long shots; from a purely mathematical perspective its 5% for each of the 20 locations.... short of the DC area that is) but if they do indeed choose us, you are absolutely right. I don't see why any of these major 1000+ ft projects wouldn't get built, recession or not. It would be a fantastic situation to find ourselves in.

Regarding an upcoming recession, you are correct in that most likely we wont see all bank lending dry up completely as was the case in 08-09, but it might cause some parties to put a few projects on pause, especially if they have several high end projects all going at once in the same market (like Related Midwest, for instance). The fact that these towers are predominantly rentals also works in their favor of being built during a down market, since mortgages wont be an issue and people need a place to live regardless of the economic situation. It all really depends on how well the high end segment of the rental market fares when the economic headwinds go south in the next year or two. People may feel pressured to trade down to more economical living quarters, even if they keep their job; the fear of losing it could be enough to depress demand.

Mortgage lending is already pretty anemic IIRC. It's definitely too cautious to fuel a true condo boom around the city. Banks are already extending mortgages to the most credit-worthy folks only, so I'm not sure they have much room to pull back in the event of a recession.

In other words, the folks buying high-end downtown condos right now would probably be doing that anyway, recession or not.

Maybe not a condo boom, but there is demand not being tapped. There really has not been much of anything built with moderately well to do condo pricing. There is a demand. Anything that has gone on sale in my building in the West Loop has not even lasted a week on market and gets higher than what they were asking most of the time. It is insane.

Round 2:

Looks to be the same # of units.

Nice. When it rains it pours.

New housing for Salesforce, jk. lol

Ha, pretty much

No, WPE is new housing for Salesforce, this is where the Amazon employees will live...

Yeah I know. Nah I don't think Amazon people would go there ;) public transit objectively sucks from there. My least favorite part of downtown.

Not so fast. I personally would rather paint my living room beige than work immediately next door to the building I work in. :yuck: I can't think of a more monotonous and numbing way to live. At least in this location you could commute via the riverwalk.

After the grueling 3 hours I spent in traffic yesterday, I would gladly take the option to live next to where I work

I am 100% with you!!! And worst case scenario...

"We can see the lights are on in your condo so your home. We really need your help with a problem so could you come to work for a few hours"....:yuck:

I wonder how different the new design will be from the original design?