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

UPChicago Aug 14, 2015 1:15 PM

Quote:

Originally Posted by rlw777 (Post 7129156)
Next cycle? Do you mean next year? They might as well not be going through the planning commission at all if they're planning on next cycle.



I think we can rule out Tishman building on spec. They are most likely just still shopping for an anchor tenant nothing too concerning here. You don't stop doing maintenance on a property out of speculation.

Exactly, this building cycle just began. Anything being proposed now that isn't build in this cycle will likely end up cancelled in my opinion.

hawainpanda Aug 14, 2015 2:15 PM

Quote:

Originally Posted by munchymunch (Post 7128958)
In regards to 130 n Franklin, I have a feeling that tishman is gunning for the first one to start an office building next cycle. At this point I think they just want to get everything set up before starting.

I'm not even sure what constitutes the "beginning" or "end" of a cycle....Chicago is constantly building, with the exception of the recent recession was there ever a year Chicago did not have at least 5 projects underconstruction?

Steely Dan Aug 14, 2015 2:19 PM

Quote:

Originally Posted by hawainpanda (Post 7129217)
with the exception of the recent recession was there ever a year Chicago did not have at least 5 projects under construction?

yes. pretty much every year in the 1990s after the commercial real estate crash in the early '90s.

it was a painfully boring time for skyscraper construction fans in chicago (and most other US cities).

SamInTheLoop Aug 14, 2015 5:24 PM

Quote:

Originally Posted by rlw777 (Post 7129156)
Next cycle? Do you mean next year? They might as well not be going through the planning commission at all if they're planning on next cycle.



I think we can rule out Tishman building on spec. They are most likely just still shopping for an anchor tenant nothing too concerning here. You don't stop doing maintenance on a property out of speculation.




Yeah, absolutely.

Certainly if we were to go through a downturn much earlier than most expect, than Tishman Speyer would be well-positioned to be first out of the gates for next cycle.

However, most think that this cycle has some really decent legs still, and thus a favorable office demand outlook for the next few years, so base case I believe Tishman is fully planning to - as they've said earlier this year - start this one by year-end 2016. I wouldn't read too much into them resurfacing the parking lot, if it's potentially got (up to) another 12-15 months of revenue producing life to it. They are speaking with tenants right now, as they continue to over the coming months and quarters until they land their anchor(s). Now, if they were planning to start work by the end of this year - or even first part of next year, that would be very strange to redo the lot this summer.....but that was never the case......

I think this one really has the potential to be one of the absolute design gems of this boom/cycle. I think this is one of those cases in which the design of this office project will result in a true competitive advantage in the market for tenants - that's very much not always the case with new office towers.......but here I think it will really be at least one significant draw for multiple tenants that Tishman WILL land.....

BVictor1 Aug 20, 2015 11:36 PM

Yeah, went to plan commission and I asked around...

130 N. Franklin passed.

aaron38 Aug 21, 2015 1:50 PM

Quote:

Originally Posted by BVictor1 (Post 7137017)
Yeah, went to plan commission and I asked around...
130 N. Franklin passed.

Does that mean they're clear to build? Is construction expected to start soon?

go go white sox Aug 25, 2015 2:03 PM

http://www.chicagoarchitecture.org/2...orth-franklin/

I think this is and will be my favorite project so far. It's going to be a beauty

sentinel Aug 25, 2015 3:32 PM

Quote:

Originally Posted by aaron38 (Post 7137450)
Does that mean they're clear to build? Is construction expected to start soon?

Most likely when they reach a certain financing threshold...speaking of, has there ever been anything announced for this building, in terms of financing?

SamInTheLoop Aug 26, 2015 4:50 PM

^ No, but keep in mind that Tishman Speyer's previously mentioned target for groundbreaking here is very late 2016.......so a lot of time still to land an anchor tenant and nail down financing and still be able to hit that timeline goal........

munchymunch Oct 1, 2015 2:08 AM

They changed the song in the video.

It's now dull and generic. :hell:

SamInTheLoop Nov 4, 2015 5:35 PM

Website now up
 
Stand-alone website has been launched - link below. Previously, it had only been a page (or pages) on the Tishman Speyer company website.


http://www.130northfranklin.com/

Steely Dan Nov 4, 2015 5:39 PM

Quote:

Originally Posted by SamInTheLoop (Post 7222886)
Stand-alone website has been launched - link below. Previously, it had only been a page (or pages) on the Tishman Speyer company website.


http://www.130northfranklin.com/

the stacking plan on the website clearly shows a building with 50 floors, not 53 as we previously had heard, so maybe this one has been downsized a touch?

losing 3 floors would equal roughly 42', bringing this one down to the 710' range.

SamInTheLoop Nov 4, 2015 5:51 PM

^ I know it seems odd saying this (as it's the developers' own site!), but I wouldn't assume that it's 50 instead of 53.......I've seen it so many times - and just recently - that info exactly such as this posted and presumably updated on the developer's own site, is not what the developer is presently planning to build: It took Hines quite some time to update their website to the expanded (by I think 3-4 floors) version of RiverPoint (after it was widely known that they did upsize) for example......also, Buck (I'm not checking right now, if it's recently been changed) I think still has its website stacking plan for 151 at 32 floors, even though they've really been at 36 for the last nearly 2 years (that's caused some confusion here as well).......these office developers don't design these websites really for the public, they design them for tenants and tenant brokers, etc........most tenants could care less if a building is 53 vs 50 stories - or 36 vs 32 stories (unless they are planned to go on floors 51-52, or 33-35!!).....it's other info and details they are most concerned with (and a lot of them aren't going to a public website necessarily even to get those).....

BVictor1 Nov 4, 2015 6:21 PM

Quote:

Originally Posted by SamInTheLoop (Post 7222918)
^ I know it seems odd saying this (as it's the developers' own site!), but I wouldn't assume that it's 50 instead of 53.......I've seen it so many times - and just recently - that info exactly such as this posted and presumably updated on the developer's own site, is not what the developer is presently planning to build: It took Hines quite some time to update their website to the expanded (by I think 3-4 floors) version of RiverPoint (after it was widely known that they did upsize) for example......also, Buck (I'm not checking right now, if it's recently been changed) I think still has its website stacking plan for 151 at 32 floors, even though they've really been at 36 for the last nearly 2 years (that's caused some confusion here as well).......these office developers don't design these websites really for the public, they design them for tenants and tenant brokers, etc........most tenants could care less if a building is 53 vs 50 stories - or 36 vs 32 stories (unless they are planned to go on floors 51-52, or 33-35!!).....it's other info and details they are most concerned with (and a lot of them aren't going to a public website necessarily even to get those).....

Perhaps, but this site was just launched and you'd think that have the most current information on it.

SamInTheLoop Nov 4, 2015 6:51 PM

^ I've learned through experience not to think that.........

Tom Servo Nov 4, 2015 10:18 PM

Big fan. Will fit in nicely with all the other gigantic Franklin towers.

Krueck + Sexton need more work.


http://www.130northfranklin.com/site...usk_04.12a.jpg

i_am_hydrogen Nov 4, 2015 10:38 PM

^Daaamn! I just soiled myself.

munchymunch Nov 4, 2015 11:47 PM

No Kidding, this building is a fucking Masterpiece.

marothisu Nov 4, 2015 11:54 PM

Really hope they don't mess up the glass. I really like the design.

patriotizzy Nov 5, 2015 6:27 PM

That base looks like a stunner. I can just imagine walking up to those shiny steel columns and looking up at the super tall ceiling in complete awe.


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