https://aws1.discourse-cdn.com/busin...d9f0cfce1.jpeg
Credit: Chris Malchow

May 12, 2022

Nice shot. Not gonna lie, the blue glass has been growing on me. The 21st century is encroaching on the city.

Awesome shot, Joe! And I agree with your sentiments on the height as well.

The lack of height here is definitely a giant missed opportunity for the overall composition and balance of the skyline.

Oh well, it was hines' dime, not mine, that built it.

But we really could've used a touch more Hines swagger here.

Times are changing big time. If people think office culture hasn't been changing and has changed they have their head in the sand. There is a glut of empty office space as it is in Chicago and some folks here talk about building height like occupancy was in a vacuum. It's over! Computer technology has changed the world. Even with Salesforce's commitment this thing will still be half empty.

That said, it'd be cool to see a spire or something on this one.

True, but residential still has legs and can continue to lead on new height.

Also BMO and BankOfAmerica are banks and they've been a little more aggressive with getting workers back in their offices. Same with this long rumored new JP Morgan building.

But yeah, the pandemic may be the historic bookend on the era of the 'giant monolithic awe inspiring office building', whose heydey was probably 1970 -2000 anyway. This in favor of more livable, green, human sized work/play offices like we're seeing in Fulton market. Feels a bit of old school vs new school. Yet another chapter that will be preserved in the chronicle that is Chicago's architectural history.

No, just counting Kirkland & Ellis and Salesforce it's already 90% leased.

There was just a diagram shown of the available space in this building. Salesforce was taking up less than a third. And many floors appeared to be un-leased not too long ago. I may be misinformed.

Naming rights don't equate to majority occupancy. Just look at Willis Tower.

I think people here are going off previous info like

https://chicago.suntimes.com/busines...lesforce-tower

That's out of 1.2 million sqft https://www.hines.com/properties/sal...-south-chicago. So 1.1/1.2 = 92% leased. But these numbers aren't exact and subject to change.

I think both high office vacancy rates in general and high occupancy specifically at WPS can both be true. This building is certainly an exception.

Funny that Kirkland may end up leasing more of the building than Salesforce!

Maybe the better question is will the occupancy be of the soon-to-be-vacant 300 N Lasalle 600,000 sqft if Kirkland is leaving?

What's crazy is how these companies are leasing office space in a world where no one (proverbially) is going back to the office....I can't quite wrap my head around how this is sustainable. I have never worked in an office but my friends that do say they are never going back or they'll look for a new job. I've pooled enough of them to have broad feedback across industries. I feel like there is something I don't know about this market and I can't quite wrap my head around it..

I don't know about stuff involving pure numbers like finance, but jobs that require problem solving and creativity ( something like say, game development ) are inherently less efficient at home than in an office. You can't just call someone over and discuss with each other, brainstorm and all that.

Besides that, idk. Maybe they just like the centralized space? Maybe just for management?

I think as soon as the labor market isn't quite so tight a lot of employers will get stricter about this all at once.

I'm sure some people will permanently work from home. I might. My employer closed the office in NYC. The Chicago office is still open, though, and lots of my coworkers have begun returning. There's more flexibility now, though. You used to have to move to the HQ if you wanted a VP position. That's not a demand anymore. People can work from home 2-3 days a week if they want. We've started "quiet Fridays," where internal meetings are discouraged so that we can focus on work that requires attention or to schedule client meetings. In lots of ways, it's a better work environment. As my kid gets older, though, I may decide that a coworking space is ideal 2-3 days a week or just during the summer. An office is great for collaboration and feeling connected to the company.

Am thinking along those lines as well. Things won't return to exactly how they were. People will have more flexibility. Some employers may be happy with some number of workers alternating days to reduce the amount of office space needed. And some will develop a culture of more fully remote. But when we go through an economic downturn and layoffs start happening, people who have access to an office may start finding their way back there more often.

https://i.imgur.com/0qyEj2gh.jpg
Took this picture from the mightiest of towers last night.

May 10, 2022



May 12, 2022







May 16, 2022













May 17, 2022

Caught the BMU being installed today

https://i.imgur.com/rFoYMh5.jpeg

https://i.imgur.com/WY3Lnea.jpeg

Ok that last shot, best this tower has ever looked.

It looks insanely good/large in person on a sunny day. I can't imagine if it was 200 more feet.