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-   -   CHICAGO | 130 N Franklin | 751 FT | 51 FLOORS (https://skyscraperpage.com/forum/showthread.php?t=199537)

the urban politician Jun 6, 2016 12:55 PM

^ Spec, or have they quietly landed tenants and financing?

LouisVanDerWright Jun 6, 2016 1:23 PM

Hopefully they've landed all of the remaining F500 HQs in the suburbs.

rlw777 Jun 6, 2016 3:32 PM

Quote:

Originally Posted by go go white sox (Post 7464368)
http://www.chicagoarchitecture.org/2...rriving-at-130

This one looks to be finally getting started one of my favorite designs of this cycle.

Awesome news if it's correct.

r18tdi Jun 6, 2016 3:48 PM

Quote:

Originally Posted by go go white sox (Post 7464368)
http://www.chicagoarchitecture.org/2...rriving-at-130

This one looks to be finally getting started one of my favorite designs of this cycle.

Don't think I've seen any sort of permits or tenant announcements. Maybe they're readying a new parking lot? :shrug:

SamInTheLoop Jun 6, 2016 5:27 PM

Quote:

Originally Posted by r18tdi (Post 7464669)
Maybe they're readying a new parking lot? :shrug


Let's hope not! That would be an epic disappointment.


I don't know if I ever mentioned it, but I believe CoStar (fully realize CoStar is loaded with all kinds of BS info all the time) early in the year had switched anticipated start date for 130 to June or July 2016.......who knows - it could just be that that was correct?.......


This would be huge. There certainly are tenants out there that are looking for space - thinking mainly in the traditional office-using firm types - your law firms, professional and business services, etc - that would be the target tenants for this tower.........

Fingers and toes crossed on this news!!

harryc Jun 6, 2016 5:33 PM

Is the new building taking both lots (Wash to Randolph) or just the S lot (Wash to W Court) ?

jdcpamba Jun 6, 2016 5:34 PM

They are digging today.

SolarWind Jun 6, 2016 6:12 PM

June 6, 2016


the urban politician Jun 6, 2016 6:16 PM

^ That ain't no parking lot getting built

harryc Jun 6, 2016 6:20 PM

http://chicago.curbed.com/2016/6/6/1...p-construction

go go white sox Jun 6, 2016 6:20 PM

This is going to be a stunner!

rlw777 Jun 6, 2016 6:58 PM

Somebody close by should go by the site and see if the workers have more info.

LouisVanDerWright Jun 6, 2016 7:05 PM

Wow, if this goes under construction this will be our second office - office - residential trio to be going up simultaneously in the confluence area (can we make this a hip new neighborhood brand?) this boom. The vacant lots are really drying up fast now!

headcase Jun 6, 2016 7:15 PM

Quote:

Originally Posted by harryc (Post 7464815)
Is the new building taking both lots (Wash to Randolph) or just the S lot (Wash to W Court) ?

It's both lots, a parking podium/amenities level is taking the Northern half of the lot.

SSDD

aaron38 Jun 6, 2016 7:33 PM

Couple weeks ago I was standing on Washington at that lot, looking north, thinking about how different the view would be in a few years. Really excited to see this one start.

MultiModal Jun 6, 2016 7:40 PM

I was told by someone at Tishman that they are finalizing construction drawing details by doing excavation work.

Honestly I don't really know what that means, Ill ask about when they are looking to break ground.

headcase Jun 6, 2016 8:03 PM

Quote:

Originally Posted by MultiModal (Post 7464999)
I was told by someone at Tishman that they are finalizing construction drawing details by doing excavation work.

Honestly I don't really know what that means, Ill ask about when they are looking to break ground.

They had surveyors on site today and it looks like they are marking where the utilities run through the site. I assume they are digging to verify what exactly it looks like underground so that they can finalize what the foundation/sub levels look like.

IMHO, a good sign, but not necessarily one that says that construction is starting in short order.

SSDD

UPChicago Jun 7, 2016 2:18 AM

of the three 700' boxes this is the one I'm most excited for!

BVictor1 Jun 7, 2016 4:33 AM

Quote:

Originally Posted by harryc (Post 7464815)
Is the new building taking both lots (Wash to Randolph) or just the S lot (Wash to W Court) ?

Both. Perhaps just potholing to prepare the site.

SamInTheLoop Jun 7, 2016 4:13 PM

Quote:

Originally Posted by MultiModal (Post 7464999)
Ill ask about when they are looking to break ground.


Yes - please do! :)

SamInTheLoop Jun 7, 2016 4:14 PM

Quote:

Originally Posted by the urban politician (Post 7464410)
^ Spec, or have they quietly landed tenants and financing?


Yes, this is indeed the question.

My complete guess at the moment is that they have - or are nearing - deal(s) with one or two anchor tenants.......

SamInTheLoop Jun 7, 2016 4:18 PM

Quote:

Originally Posted by UPChicago (Post 7465452)
of the three 700' boxes this is the one I'm most excited for!



Same here. Don't get me wrong - I very much like those others as well, but the design here really does it for me.......and, this is one that I think will truly make - in 3-4 years time - this boom feel 'complete' (along with confluence stuff/wolf point, Roosevelt/Michigan and Vista, among potentially a few others as well) and one of historical significance in the history of downtown Chicago's high-rise booms.....

the urban politician Jun 7, 2016 5:17 PM

^ Yep, I'm pretty much there with you on this one.

Skyguy_7 Jun 8, 2016 12:12 PM

6/7

https://c3.staticflickr.com/8/7387/2...e2dc49cf_c.jpg

Old Chicago Stock Exchange parts
https://c3.staticflickr.com/8/7309/2...096541e3_c.jpg

Pilton Jun 8, 2016 12:41 PM

River Point, 150, WPW and the Riverwalk extension - all special. 130 Franklin will be another great addition to the Confluence neighborhood. Glad it seems to be starting up now.

rlw777 Jun 8, 2016 10:38 PM

Quote:

Originally Posted by SamInTheLoop (Post 7466019)
Same here. Don't get me wrong - I very much like those others as well, but the design here really does it for me.......and, this is one that I think will truly make - in 3-4 years time - this boom feel 'complete' (along with confluence stuff/wolf point, Roosevelt/Michigan and Vista, among potentially a few others as well) and one of historical significance in the history of downtown Chicago's high-rise booms.....

I agree. I love 150 N riverside and River Point is pretty awesome as well but this one might top both of them. It's a very Chicago take on the trend toward more sculptural forms in architecture similar to Aqua I think. Structurally it's a simple efficient modernist Chicago box but like Aqua it plays with the space outside that box to breakup the form in interesting ways.

ardecila Jun 9, 2016 3:50 AM

Quote:

Originally Posted by SamInTheLoop (Post 7466019)
Same here. Don't get me wrong - I very much like those others as well, but the design here really does it for me.......and, this is one that I think will truly make - in 3-4 years time - this boom feel 'complete' (along with confluence stuff/wolf point, Roosevelt/Michigan and Vista, among potentially a few others as well) and one of historical significance in the history of downtown Chicago's high-rise booms.....

Well, yeah... it's easily the biggest piece of empty land in the Loop, and it's a very visible site close to commuter flows.

After this, what are the obvious sites for new office towers? There's General Growth.... maybe one or two River North sites including Wolf Point. Beyond that, developers will have to start looking westward for marquee projects, or maybe even southward or northward. Could the site at Canal/Kinzie conceivably be an office site? Or the Blommer Chocolate parking lot?

Stunnies23 Jun 9, 2016 3:58 AM

The 311 S Wacker Parking lot and the parking lot just south of there on Van Buren.

munchymunch Jun 9, 2016 4:40 AM

Please have this one built, my favorite of the cycle by FAR.

Skyguy_7 Jun 9, 2016 12:46 PM

^It's happening. They're digging up the old footings for the next 1-2 months and then banana time, I'm told. It's currently the same wrecking crew who took down the old Chicago Mercantile Exchange in '02. Go figure.

LouisVanDerWright Jun 9, 2016 1:58 PM

^^^ Excellent, could this be a rare example of a historically significant building was lost at replaced by something at least somewhat worthy of taking its place? Of course I would rather have the Sullivan, but this has the potential to at least be of similar quality and much higher use than the CDC building changing the whole sad saga from a total loss to a somewhat positive result since we can't go back and undo the original mistake.

Stay tuned to SSP to find out!

Ned.B Jun 9, 2016 2:48 PM

^Unless we cause some confusion, I just wanted to point out that the building that was here before was the 1927 Chicago Mercantile Exchange designed by Alfred Alschuler and demolished in 2002.

Skyguy_7 Jun 9, 2016 2:53 PM

^Thanks for clearing that up. I was confused as well. Sullivan's Stock Exchange was located at 30 N Lasalle.

^^Not all was lost.. Got a sweet charcoal grill stand out of the deal:

https://c2.staticflickr.com/8/7325/2...f99d5da7_c.jpg

SamInTheLoop Jun 9, 2016 3:20 PM

Quote:

Originally Posted by Skyguy_7 (Post 7468602)
^It's happening. They're digging up the old footings for the next 1-2 months and then banana time, I'm told. It's currently the same wrecking crew who took down the old Chicago Mercantile Exchange in '02. Go figure.



I've been asking around to some folks who would know, and was pretty much told same - this is for real, it's happening. I think we'll be hearing of at least a first anchor tenant deal soon - within the next couple months for certain, potentially within the next few weeks.....I've heard some names, don't want to reveal them (mainly because I don't want to jinx anything with this one!!).......good, good stuff.....

LouisVanDerWright Jun 9, 2016 3:33 PM

Quote:

Originally Posted by Ned.B (Post 7468765)
^Unless we cause some confusion, I just wanted to point out that the building that was here before was the 1927 Chicago Mercantile Exchange designed by Alfred Alschuler and demolished in 2002.

That's what I had thought, then this is for sure an upgrade, even though it was senseless to demolish the Merc.

SamInTheLoop Jun 9, 2016 3:33 PM

Quote:

Originally Posted by ardecila (Post 7468379)
Well, yeah... it's easily the biggest piece of empty land in the Loop, and it's a very visible site close to commuter flows.

After this, what are the obvious sites for new office towers? There's General Growth.... maybe one or two River North sites including Wolf Point. Beyond that, developers will have to start looking westward for marquee projects, or maybe even southward or northward. Could the site at Canal/Kinzie conceivably be an office site? Or the Blommer Chocolate parking lot?


General Growth is definitely an A+ riverfront site, as are the couple that Stunnies mentioned, toward the south end of Wacker - those two I think have been somewhat overlooked as most of the action obviously has been further north this boom....however, if you really think about their location, proximity to the train stations and Loop transit, they are really some truly prime sites (it's possible some sort of mixed-use is a possibility down there too. Then of course (I'm still very surprised Hines is opting to make the East Tower at Wolf Point residential instead of office.....such a strange choice) you have whatever happens with the South Tower at Wolf Point, which I'm assuming will be at least partly - or now maybe completely - office (office and hotel maybe?), that's although not quite as accessible as the others, still a very prime site just based on visibility, riverfront, views, etc)........you have sites still in the West Loop between the river and expressway, and there are in fact at least a couple less obvious sites (not thinking in terms of demolishing anything existing of actual significance) in the Loop proper....

Speaking of General Growth, I've seen a rendering - however I have no idea how recent/if current, etc - if it's something 'real' by an architect that's been commissioned or if it's just a quite good 'placeholder' for early marketing purposes or what have you.......I'm hoping it's real because my reaction was "yes, please"..........I no next to nothing as far as a prospective timeline, if they're serious about moving on it in the next few years, etc etc......

headcase Jun 9, 2016 3:55 PM

Quote:

Originally Posted by ardecila (Post 7468379)
Well, yeah... it's easily the biggest piece of empty land in the Loop, and it's a very visible site close to commuter flows.

After this, what are the obvious sites for new office towers? There's General Growth.... maybe one or two River North sites including Wolf Point. Beyond that, developers will have to start looking westward for marquee projects, or maybe even southward or northward. Could the site at Canal/Kinzie conceivably be an office site? Or the Blommer Chocolate parking lot?

Another one would be 35 N State, the old Old Navy store/current GAP. If I remember correctly the lease on that space runs out next year, and it is assumed that the building was purchased in '10 or '11 with eyes towards a larger development.

SSDD

SamInTheLoop Jun 9, 2016 4:01 PM

^ That one is not likely to have a major office component, if any at all. Think retail, residential, hotel as the likely major program options there.......but it is indeed one of the absolute juiciest redevelopment sites in the Loop (along with 300 N Michigan - which would also heavily lean toward retail/resi/hotel and away from office - and potentially a couple others)....

headcase Jun 9, 2016 4:08 PM

Quote:

Originally Posted by SamInTheLoop (Post 7468905)
^ That one is not likely to have a major office component, if any at all. Think retail, residential, hotel as the likely major program options there.......but it is indeed one of the absolute juiciest redevelopment sites in the Loop (along with 300 N Michigan - which would also heavily lean toward retail/resi/hotel and away from office - and potentially a couple others)....

You are absolutely right, I skipped over the "office" part of the quoted email. It would obviously be a location that could support nearly any use, but a new office tower would be against the recent trends.

SSDD

LouisVanDerWright Jun 9, 2016 4:27 PM

The funny part about the conversation people were having the other day about McDonalds locating in the West Loop is that it's quite clear the CBD has nowhere to go but West. Harpo is about the same distance from Union as the center of the Loop is, but much closer than any location in River North or South Loop. As such those areas are desirable for only retail/residential/hotel and not office. Things will start getting really interesting in the next boom when there will be almost no options for large new towers left East of the river and most of the lots between the river and freeway have been mopped up with econoboxes and medium sized hotels or residential. I've been saying this for years, but Chicago is rapidly spiraling towards the point where land is again scarce in the core and the only way to go is up or into previously undesirable neighborhoods. Who knows exactly how or where demand will manifest itself (McDonald's itself is a great example of the ability of markets to surprise), but it will sure be fun to watch. Let's hope this boom keeps rolling for a while longer and more surface lots continue to be gobbled up!

SolarWind Jun 10, 2016 2:38 AM

June 9, 2016






trvlr70 Jun 10, 2016 12:58 PM

I can't recall, but is the parking lot (the one filled with cars) slated for development as well?

aaron38 Jun 10, 2016 2:06 PM

^^^ Yes, just go to page 1 of the thread and look at the renders.

SamInTheLoop Jun 10, 2016 2:11 PM

Quote:

Originally Posted by trvlr70 (Post 7469995)
I can't recall, but is the parking lot (the one filled with cars) slated for development as well?

This tower itself goes extends maybe ~20-25'? into that lot, and then the rest of the lot is parking podium with amenity roofdeck and plaza.....

SamInTheLoop Jun 10, 2016 2:13 PM

Quote:

Originally Posted by LouisVanDerWright (Post 7468957)
The funny part about the conversation people were having the other day about McDonalds locating in the West Loop is that it's quite clear the CBD has nowhere to go but West. Harpo is about the same distance from Union as the center of the Loop is, but much closer than any location in River North or South Loop. As such those areas are desirable for only retail/residential/hotel and not office. Things will start getting really interesting in the next boom when there will be almost no options for large new towers left East of the river and most of the lots between the river and freeway have been mopped up with econoboxes and medium sized hotels or residential. I've been saying this for years, but Chicago is rapidly spiraling towards the point where land is again scarce in the core and the only way to go is up or into previously undesirable neighborhoods. Who knows exactly how or where demand will manifest itself (McDonald's itself is a great example of the ability of markets to surprise), but it will sure be fun to watch. Let's hope this boom keeps rolling for a while longer and more surface lots continue to be gobbled up!


Again - you really accelerate these things in your head - there's plenty, plenty of total sites east of the expressway for the next cycle as well.........

LouisVanDerWright Jun 10, 2016 3:48 PM

Quote:

Originally Posted by SamInTheLoop (Post 7470063)
Again - you really accelerate these things in your head - there's plenty, plenty of total sites east of the expressway for the next cycle as well.........

Except I keep being right, as you admit, I've been saying this for a while. The area between the freeway will fill in almost completely in the next 10 years. The West Loop will continue to fill in and see denser and denser uses. Big companies like Google and McDonald's will keep getting adventurous in their siting. The Post Office will go the way of 600 W Chicago, 111 n canal, merch Mart, etc. There will always be a handful of developable sites, but we are meat grinding about two square blocks of vacant land a year in that area right now, it's not unrealistic to see it fill in even more rapidly as vacant land becomes more scarce and therefore more valuable. This has happened in various other neighborhoods downtown from Streeterville to River North, to the South Loop. You can see the process in all stages in Chicago which is fascinating. However many of these traditional development zones are running out of space. The only direction to go is West.

MultiModal Jun 10, 2016 4:31 PM

Quote:

Originally Posted by LouisVanDerWright (Post 7470228)
Except I keep being right, as you admit, I've been saying this for a while. The area between the freeway will fill in almost completely in the next 10 years. The West Loop will continue to fill in and see denser and denser uses. Big companies like Google and McDonald's will keep getting adventurous in their siting. The Post Office will go the way of 600 W Chicago, 111 n canal, merch Mart, etc. There will always be a handful of developable sites, but we are meat grinding about two square blocks of vacant land a year in that area right now, it's not unrealistic to see it fill in even more rapidly as vacant land becomes more scarce and therefore more valuable. This has happened in various other neighborhoods downtown from Streeterville to River North, to the South Loop. You can see the process in all stages in Chicago which is fascinating. However many of these traditional development zones are running out of space. The only direction to go is West.

I agree that the West Loop will continue to fill and get denser and denser but 10 years is really aggressive IMO. Even just East of the river there are a lot of developable sites. Just walk along Wabash and you can see numerous potential tower sites:


The corner of Wabash and Adams: https://goo.gl/maps/WcAoueZBjAm

The corner of Wabash and Van Buren has very large parking lots at 3 of the four corners: https://goo.gl/maps/QckqBqaWPo62

Just south of there is another opportunity with a parking lot and one story buildings; https://goo.gl/maps/jyHAz2pGkJR2

The corner of Wabash and Washington is a 3 story parking garage with first floor retail that is underutilized: https://goo.gl/maps/hFX91W4b4qR2

Just North is an empty parking lot which we just saw a proposal for: https://goo.gl/maps/j4DJwsL5XQG2

The 17th Church of Christ could also be redeveloped at some point (I know that a lot of people on here don't ever want to see it ever redeveloped but that doesn't mean it isn't a possibility): https://goo.gl/maps/ABDHqGJ1Gtq



That's eight developable lots in either in or just outside the loop on Wabash alone.

LouisVanDerWright Jun 10, 2016 4:56 PM

I don't disagree there are developable sites, but Wabash simply is not suitable for office, by the time you are the far East Harpo is as close or closer. McDonalds probably dropped their previous consideration in Illinois Center for that reason. Any site with a Wabash address is probably far more profitable as residential or hotel. Finally, just being vacant land doesn't make a site suitable for office. Office typically needs nice large square or rectangular parcels. A 75'x450' site crammed up against symphony center that also needs to accommodate symphony centers loading isn't going to be very efficient for office. It would be perfect for residential or hotel though. The near West Loop and West Loop is the last remaining area with a significant stock of big sites that's anywhere near Union and Olgavie.

Notyrview Jun 10, 2016 6:53 PM

Is the adjacent parking lot part of the site?

SamInTheLoop Jun 10, 2016 8:24 PM

^ :D Oh no you didn't.....


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