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-   -   CHICAGO | Riverline | 8 Towers | 600FT - 500FT(X2) - 380FT(X2) - 242FT(X2) - 300FT~ (https://skyscraperpage.com/forum/showthread.php?t=221826)

nomarandlee Feb 28, 2018 9:40 PM

wrong thread

ithakas Mar 14, 2018 2:08 PM

Quote:

$2 billion Riverline mega-development divides into separate residential projects

Riverline’s developers said the eight-tower South Loop mega-development is now two separately controlled projects, with Australia’s Lendlease taking over work on the 7-acre portion north of River City Condominiums and Chicago-based CMK Cos. keeping the 8-acre parcel south of the Bertrand Goldberg-designed complex.

The developments will continue to use the master plan designed by Perkins+Will, but each developer now will separately make decisions on financing, construction schedules and how to balance the mix of apartments, condos and other potential uses.
http://www.chicagotribune.com/busine...313-story.html

SteelMonkey Mar 14, 2018 2:08 PM

Now 2 projects ....will timeline speed up or slow

http://www.chicagotribune.com/busine...313-story.html

the urban politician Mar 14, 2018 2:10 PM

^ Probably a good idea

LouisVanDerWright Mar 14, 2018 2:18 PM

^^^ They are probably refinancing the tower they are finishing up and using the proceeds/profits to cover the costs of the land. That means both parties will essentially own their parcels cash after completion and can basically just finance each additional project off their track record and equity in the dirt.

KWillChicago Mar 14, 2018 3:17 PM

Quote:

Originally Posted by SteelMonkey (Post 8119365)
Now 2 projects ....will timeline speed up or slow

http://www.chicagotribune.com/busine...313-story.html

They said it's not common for this to happen. Is that a good thing or bad thing? This better not put tower two on hold for a year.

ardecila Mar 14, 2018 4:08 PM

Quote:

Originally Posted by LouisVanDerWright (Post 8119380)
^^^ They are probably refinancing the tower they are finishing up and using the proceeds/profits to cover the costs of the land. That means both parties will essentially own their parcels cash after completion and can basically just finance each additional project off their track record and equity in the dirt.

How do you refinance a tower when it’s not even done yet? No proven cash flow. A lender would have to A) take for granted that construction will be completed and B) take for granted that the building will command ever-increasing rents.

It’s not impossible, but that’s a lot of uncertainty. Have we ever seen a developer do a refi before construction is even complete, with no tenants whatsoever?

It does seem like the split was amicable, but this may tank the possibility for a riverwalk connection through River City. On the other hand, that building is going rental again, so the new owner may see the upside to putting in a Riverwalk connection through the property, and it doesn’t have to be okayed by a stingy and NIMBYish condo association.

LouisVanDerWright Mar 14, 2018 4:15 PM

^^^ They may have a loan which converts into term debt upon completion and leasing. If they are talking about splitting the project now, the odds are that the split won't actually occur for several months because these types of deals take time even if you aren't negotiating any of the terms. My bet is that they already have financing in place (this is Lend Lease after all, they are basically as close to a zero risk borrower as you can get) and are announcing this split now when it really won't be official until the financing is complete on the project they are wrapping up now. It's likely they will do a big refi closing and back all the equity out at the same time as they refi the tower and split the ownership of the project. It makes very little sense to have multiple closings on any project, let alone one this large, so a smart developer is going to try to do all the ownership, financing, and equity changes all at once. That means you need to get the gears turning on your split a few months before financing will be ready which is now.

spyguy Mar 19, 2018 12:34 AM

https://farm5.staticflickr.com/4793/...bb3f9364_b.jpgRiverline construction by Steven Vance, on Flickr

BVictor1 Apr 12, 2018 3:13 AM

How do we want to do this guys?

Should the thread be spit into two, or just double named?

We have a name for the northern half...

SOUTHBANK

https://southbankchicago.com

harryc Apr 12, 2018 3:16 AM

Quote:

Originally Posted by BVictor1 (Post 8151659)
How do we want to do this guys?

Should the thread be spit into two, or just double named?

We have a name for the northern half...

SOUTHBANK

https://southbankchicago.com

Keep the same thread.

What an incredibly stupid name - even for the real-estate sales world - Yeah I know East Bank is already taken, but that does not in any way make this the south bank.

left of center Apr 12, 2018 3:25 AM

Quote:

Originally Posted by BVictor1 (Post 8151659)

SOUTHBANK

:sly:

Kumdogmillionaire Apr 12, 2018 4:26 AM

So... what do we call the other one? Souther Bank? :haha:

What a bad name

Randomguy34 Apr 12, 2018 4:28 AM

Quote:

Originally Posted by Kumdogmillionaire (Post 8151742)
So... what do we call the other one? Souther Bank? :haha:

What a bad name

The southern one now has the "Riverline" name, while the northern portion is now called "Southbank". Why was the name change necessary? Who knows :shrug:

sentinel Apr 12, 2018 1:54 PM

Quote:

Originally Posted by Randomguy34 (Post 8151747)
The southern one now has the "Riverline" name, while the northern portion is now called "Southbank". Why was the name change necessary? Who knows :shrug:

Because now it's two separate developments from two separate companies, since Lendlease and CMK parted ways:

http://www.chicagotribune.com/busine...313-story.html

SolarWind Apr 24, 2018 2:46 AM

April 23, 2018








harryc May 26, 2018 3:27 PM

April 30







May 9




the urban politician May 26, 2018 3:46 PM

How rad that concrete would look if they didn't paint it...

left of center May 26, 2018 4:11 PM

Quote:

Originally Posted by the urban politician (Post 8200542)
How rad that concrete would look if they didn't paint it...

Would've been almost like an homage to River City.

BrinChi May 27, 2018 4:40 AM

I know! This looks great as is. Seal the concrete and call it a wrap.

Kumdogmillionaire May 27, 2018 3:19 PM

I feel like I'm alone in not liking how the bare concrete looked on this building. I feel like this collection of buildings and the others nearby being white will create a cool shift in the coloration of the skyline as it shifts south.

harryc Jun 2, 2018 11:40 PM

May 27

From the Dan Ryan


With the Essex in the back.

harryc Jun 16, 2018 11:44 PM

June 15





Working on the River




Holding back the river bank (sheet piles)


Old pilings - sharpened pine trees.



aaron38 Jun 27, 2018 5:49 PM

6-25-18

http://i66.tinypic.com/azc8ed.jpg

KWillChicago Jun 27, 2018 6:09 PM

Wierd to think that corner lot is going to get going before the second riverline tower does. Anything going on the southend of river city?
Also looks like the 311 roofs got a paint job.

Kumdogmillionaire Jun 27, 2018 6:18 PM

Quote:

Originally Posted by KWillChicago (Post 8234791)
Wierd to think that corner lot is going to get going before the second riverline tower does. Anything going on the southend of river city?
Also looks like the 311 roofs got a paint job.

Yeah, in their defense, there is a lot of work that had to be done to fix the topography and river frontage before they could build the next few towers. I just drove past Roosevelt this morning after going to Costco and didn't notice anything on the southern end. Hope the pace starts to pick up though as well...

Mikemak27 Jun 27, 2018 6:49 PM

Website, leasing info, move in availability, prices, and floor plans are now live at their website

Thecoopersouthbank.com

Jim in Chicago Jun 27, 2018 7:15 PM

Quote:

Originally Posted by Mikemak27 (Post 8234872)
Website, leasing info, move in availability, prices, and floor plans are now live at their website

Thecoopersouthbank.com

Much is not yet there. From what is, 2 bedrooms cap out at 1,100 square feet which is hardly luxurious. Nothing online yet for the 3 bedrooms or the Town Houses or Penthouses.

moorhosj Jul 20, 2018 8:23 PM

Picture from the Water Taxi today (7/20/18). Lots of earth being moved and it looks like the river walk is starting to take shape.

https://i.imgur.com/HKZm7sP.jpg

SolarWind Aug 3, 2018 4:02 AM

August 2, 2018


10023 Aug 3, 2018 8:13 AM

Quote:

Originally Posted by Jim in Chicago (Post 8234932)
Much is not yet there. From what is, 2 bedrooms cap out at 1,100 square feet which is hardly luxurious. Nothing online yet for the 3 bedrooms or the Town Houses or Penthouses.

lol... Chicago

Here in London, 1100 square feet is a 3 bedroom of an enormous 2 bedroom.

RedCorsair87 Aug 3, 2018 7:38 PM

I hope these go quickly and construction begins on another tower. This is probably the least interesting building of either the north or south portions of Riverline.

intrepidDesign Aug 3, 2018 7:47 PM

Quote:

Originally Posted by RedCorsair87 (Post 8271789)
I hope these go quickly and construction begins on another tower. This is probably the least interesting building of either the north or south portions of Riverline.

I think there are some very charming aspects to this building actually. The townhomes at the base to be specific, once everything is landscaped and the other towers are built, this will be a really, really nice area, the tower is whatever, certainly better than it's neighbors, but I agree that the other towers, with their cantilevered elements and height are going to be the crown jewels of the development.

RedCorsair87 Aug 4, 2018 12:30 AM

You are correct. The base is good. I wish the tower itself was a little more dramatic. I think the whole development will be stunning once complete.

SolarWind Aug 28, 2018 5:23 AM

The Cooper Southbank
 
August 27, 2018








the urban politician Aug 28, 2018 2:41 PM

^ Wow, I'm impressed with how this one is turning out. Even though it is basically parking ramps, it looks quite graceful at the base

Kippis Aug 28, 2018 2:57 PM

^ Agreed. I don't say much in these forums (as I don't readily have time to follow all the excitement these days), but hot damn. THAT is how you treat a building's parking element. Very nicely done!

Jim in Chicago Aug 28, 2018 4:25 PM

Quote:

Originally Posted by RedCorsair87 (Post 8272080)
You are correct. The base is good. I wish the tower itself was a little more dramatic. I think the whole development will be stunning once complete.

I think it will be fine. The parking element treatment rocks, and the building will be toward the back of a much larger development. Why waste your design bang on something that will be in the background.

I'm actually much more concerned about what the unrelated development on the Wells/Harrison corner will do.

rgarri4 Aug 28, 2018 5:33 PM

One down. So many more to go! How many years is this development supposed to take to complete?

harryc Aug 28, 2018 5:36 PM

Quote:

Originally Posted by rgarri4 (Post 8296581)
One down. So many more to go! How many years is this development supposed to take to complete?

Less time than it has spent as an empty lot.

Near North Resident Aug 28, 2018 5:38 PM

Quote:

Originally Posted by BrinChi (Post 8201062)
I know! This looks great as is. Seal the concrete and call it a wrap.

no that looks awful

left of center Aug 28, 2018 10:09 PM

Quote:

Originally Posted by harryc (Post 8296584)
Less time than it has spent as an empty lot.

Very succinct, Harry :haha:

BonoboZill4 Aug 29, 2018 3:05 AM

Quote:

Originally Posted by rgarri4 (Post 8296581)
One down. So many more to go! How many years is this development supposed to take to complete?

I know it's a random comment, but I wish your Chicago Model was interactive with VR headsets. Me O My that would be fun!

I believe the end date was supposed to be 2023, but with the project being split into two parts, who knows if the timeline gets longer.

harryc Sep 8, 2018 10:58 PM

Sep 5













Testing the patios



rgarri4 Sep 9, 2018 1:03 PM

Quote:

Originally Posted by BonoboZill4 (Post 8297276)
I know it's a random comment, but I wish your Chicago Model was interactive with VR headsets. Me O My that would be fun!

I actually have all the tools to make that happen! I would just need time to work out how game play would work. Like would you only experience it from the ground or would you also have a flying ability or a jet pack or something lol.

Unlike NEMA I'm not digging the painting of the concrete on this one. This really would of looked better with just the raw concrete texture especially in close ups.

BonoboZill4 Sep 9, 2018 4:35 PM

^ Yeah, I'd definitely want a jetpack for that haha

RedCorsair87 Sep 11, 2018 1:59 AM

Like the tower. Really like the base. Can't wait for the next one!

marothisu Sep 11, 2018 2:03 AM

Quote:

Originally Posted by rgarri4 (Post 8308248)
I actually have all the tools to make that happen! I would just need time to work out how game play would work. Like would you only experience it from the ground or would you also have a flying ability or a jet pack or something lol.

Unlike NEMA I'm not digging the painting of the concrete on this one. This really would of looked better with just the raw concrete texture especially in close ups.

And thus a new business was born in making VR "games" to walk around in virtual models of some of the world's best architectural cities :D

BonoboZill4 Sep 11, 2018 2:22 AM

Quote:

Originally Posted by marothisu (Post 8309949)
And thus a new business was born in making VR "games" to walk around in virtual models of some of the world's best architectural cities :D

Your boy would pay 60 bucks for that :cheers:

maru2501 Sep 11, 2018 4:25 PM

and your avatar would be the look on your face after taking off the VR eyewear


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