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Old Posted Mar 6, 2013, 1:29 PM
the urban politician the urban politician is offline
The City
Join Date: Jul 2004
Location: Chicago region
Posts: 21,375
Originally Posted by ardecila View Post
It does, but it won't come to market for a long time if ever. With the exception of River Point, none of these projects seem to be moving forward.
Well, vintage office buildings in the east loop continue to be converted into other uses (apartments, dorms, hotels), including an announcement in today's Crains that yet another one (which is nearly 100% occupied) will be converted into a Hyatt Place.

While those were probably all Class C, still the conditions for a few new office towers seem to be brewing. Once vancancies reach that magic number and the lenders loosen up a bit more, perhaps we'll see 2 or 3 new towers over the next 4-5 years?

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