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1200 S INDIANA AVE
Description: INSTALL FREE STANDING POTAIN MD 485B TOWER CRANE Application Review Summary Name Completed Date Status FINAL DATA REVIEW 2017-02-01 APPROVED STRUCTURAL REVIEW 2017-01-31 APPROVED PRELIMINARY INTAKE REVIEW 2016-12-27 APPROVED The owners of this address received a permit on Wednesday, February 1, 2017 |
Major Equity Source is from China - Ping An Insurance
Industry newsletter Real Estate Alert revealed yesterday that the majority of the project's equity is being funded by China insurer Ping An.
Total project cost is estimated right around where I thought it would end up - $350 mil. or so. Article cited a unit count of around 900. That could be a mistake. Or, it also wouldn't surprise me if it's been increased somewhat with smaller avg unit sizes.....anyone here have up-to-date intel on that? |
^The unit count hasn't changed.
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the overall plan had been, and this could have changed since I worked on it, to have 100 condo units at the top and about 650 rentals on the lower floors. I had heard that they had done away with some amenity floors to raise the efficiency of the building but nothing is etched in stone yet AFAIK. |
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Can you lend any info/ideas/teases to some of the other design and/or massing elements that might be in play? If GP 1 is a nod to Sears, would GP 2 be a nod to anything? |
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I'm going to diverge from the group think for a moment and state that I would love for the developer to stick with the fraternal twin scheme.
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Looking at the skyline from Grant Park: I think that the Museum park towers, and the grant park towers on the left would provide a nice profile. Combined with Essex and 1000M on the right. both sides then kind of would be starting to bring the skyline up to a point. IMO they should burn the Jewel at Wabash/Roosevelt to the ground and put up a 1500' + tower there. Would make for an awesome 4th "peak" in the skyline. |
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According to the link the tank would likely be made of concrete. The simple fact though is that you're dealing with water and cost. Concrete is cheap whereas constructing a tank with copper or stainless steel is not and water will eventually corrode both of those alternatives. Everything that holds water will, given sufficient time, leak. Lastly, a tuned mass damper is a mechanical damper which is essentially what was described as an alternative (a mechanism for absorbing shock mechanically). |
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I can't help but let my mind wander with the slosh damper, like a layer of aluminum creating a barrier with the concrete which is relatively cheap and fairly resistant against corrosion. In time if there's any issue with the aluminum barrier, drain the tank, install a new barrier and refill the tank. Admittedly a single physical damper that wouldn't need attention for a very long time sounds more desirable even if the upfront cost is more. |
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