CHICAGO | Highrise Projects & Construction, v7

[skysoar]

Originally Posted by rivernorthlurker

That's a shame. Was hoping they'd want to 'one up' both BoA and BMO. Their new building in NYC is definitely built with intention to impress over just functionality. I was hoping maybe that could carry over into a new building in Chicago as well. But maybe they only care about their headquarters.

Well do we know that all of the bidders for the Thompson Center redevelopment for example is Chase Bank related? Could it be that some of the other bidders have some other corporations in mind involving greater height, hopefully we will find out soon. It also would be nice to see some of those proposed drawings for Chase Bank mentioned being seen by Ned B.

[chicubs111]

The size of of Thompson center lot and amount of zoning changes that they wanted for this site to building something very sizeable. Def not under 700ft... I would be disappointed to see anything under 1000ft to be honest. This is basically the last remaining large lot left in the central loop to build something sizeable.

[left of center]

^ Exactly. It really is the last full block site right in the center of the CBD. Anything short of a supertall there would be a disappointment, especially considering the excellent transit access.

[r18tdi]

Originally Posted by chicubs111

The size of of Thompson center lot and amount of zoning changes that they wanted for this site to building something very sizeable.

Yes but so far no developer has asked for a zoning change. The alderman submitted an ordinance for the site to revert back to original DC-16 zoning, but that's it. And just because someone can build Willis Tower height and density, it doesn't mean developers open their wallets and go that route. A building in the BoA/BMO class is a safer bet.

[rivernorthlurker]

JP Morgan said they are looking up to 1 million square feet, so that would not be so easy to fit in a sub 700 footer but possible. Riverside and River Point are 1.2 million sqft and 1.0 million sqft respectively at around 730' for comparison. Hopefully they go for mixed use as an anchor tenant and then the building could be much larger.

The following article mentions Tishman Speyer's proposal at 130 N Franklin for JPMorgan which is 1.1 million leaseable sq ft on their website - though of course they could change the design substantially. But this would fit the 1 million JP Morgan desires well. Additionaly Tishman Speyer is the developer for 270 Park in New York. Methinks maybe they go with 130 N Franklin for the ease of working with the same developer. We'll see.

https://chicagoconstructionnews.com/...o-development/

Also the city apparently gave Tishman 1 more year due to Covid to get 130 N Franklin going with a deadline of September 24, 2022. So maybe that will push them to get a deal closed next year - JP or not. https://www.chicagoarchitecture.org/...-blames-covid/

There could be new towers at both 130 Franklin and Thompson Center soon...

[Zapatan]

Originally Posted by chicubs111

This is basically the last remaining large lot left in the central loop to build something sizeable.

Yea, question is, how could anyone have such little ambition to build a 7-800 foot building here? Even from a financial standpoint I would imagine it would make sense to go taller / more SF given the location, especially mixed use.

They're tearing down the freaking Thompson Center, a Chicago landmark, for what? A building that isn't at all tall by the city's standards?

There could be new towers at both 130 Franklin and Thompson Center soon...

I wonder what the odds of a supertall, or at least 900+ footer are there

[chicubs111]

Originally Posted by r18tdi

Yes but so far no developer has asked for a zoning change. The alderman submitted an ordinance for the site to revert back to original DC-16 zoning, but that's it. And just because someone can build Willis Tower height and density, it doesn't mean developers open their wallets and go that route. A building in the BoA/BMO class is a safer bet.

How would you even know that regarding the zoning change since they havent even released the proposals/developers bidding the for site?

[r18tdi]

Originally Posted by rivernorthlurker

JP Morgan said they are looking up to 1 million square feet, so that would not be so easy to fit in a sub 700 footer but possible. Riverside and River Point are 1.2 million sqft and 1.0 million sqft respectively at around 730' for comparison.

The JRTC site is much fatter. A new building could easily accommodate 1 million sqf within a 400-500 footer.

[rivernorthlurker]

Originally Posted by r18tdi

The JRTC site is much fatter. A new building could easily accommodate 1 million sqf within a 400-500 footer.

Bummer.

[marothisu]

Originally Posted by r18tdi

The JRTC site is much fatter. A new building could easily accommodate 1 million sqf within a 400-500 footer.

Yeah that short of a tower is probably not going to happen for someone trying to compete with others who have larger towers (B of A and BMO for example).

[bnk]

Originally Posted by left of center

^ Exactly. It really is the last full block site right in the center of the CBD. Anything short of a supertall there would be a disappointment, especially considering the excellent transit access.

Are you talking about taking down the Thompson center or a tall addtion that Jahn wanted?

Because the footprint is small with the TC still there.


https://www.google.com/maps/@41.8851...6314737,18.81z


Was the location of the high rise addition to be on the south east bit of land that is currently the plaza?

[ithakas]

Originally Posted by r18tdi

The JRTC site is much fatter. A new building could easily accommodate 1 million sqf within a 400-500 footer.

Hopefully we get Jahn's proposed reuse and tower addition, and Chase takes something like 130 Franklin or a lot near Sears if they want their own 700-footer.

Someday, with competent owners, Thompson Center could be known as Chicago's pantheon.

(Sorry, I just looked up photos of what used to be at Block 37 for the first time and it left a horrible taste in my mouth. They tore down the theater where North by Northwest premiered? )

[left of center]

Originally Posted by bnk

Are you talking about taking down the Thompson center or a tall addtion that Jahn wanted?

Because the footprint is small with the TC still there.


https://www.google.com/maps/@41.8851...6314737,18.81z


Was the location of the high rise addition to be on the south east bit of land that is currently the plaza?

I was talking about taking it down completely since that appears to be what the winning bidder for the property is most likely to do.

Jahn did release renders for a 110 story supertall addition to the Thompson Center as a way to preserve it, but that project would still not really have addressed the issue of the building requiring over $300 million dollars in deferred maintenance as well as the vast insulating work/HVAC upgrades to keep the existing building from freezing in the winter and cooking in the summer. From a cost/benefits standpoint, it's unlikely any developer would sink that much money to save the existing structure unfortunately.

The proposed tower appears to have been on the southwest corner of the property:


Source: archdaily.com


Source: archdaily.com

[rivernorthlurker]

Originally Posted by left of center

I was talking about taking it down completely since that appears to be what the winning bidder for the property is most likely to do.

Jahn did release renders for a 110 story supertall addition to the Thompson Center as a way to preserve it, but that project would still not really have addressed the issue of the building requiring over $300 million dollars in deferred maintenance as well as the vast insulating work/HVAC upgrades to keep the existing building from freezing in the winter and cooking in the summer. From a cost/benefits standpoint, it's unlikely any developer would sink that much money to save the existing structure unfortunately.

The proposed tower appears to have been on the southwest corner of the property:


Source: archdaily.com


Source: archdaily.com

This is the good stuff lol. Too good to be true.

[Zapatan]

This is the good stuff lol. Too good to be true.

It is good stuff, but I don't know why it's too good to be true. Chicago has historically been one of the supertall cities of the world, basically starting the whole trend along with NY.

Who's to say a 1,500+ footer is out of the question? There's a good chance unfortunately that they'll blow this opportunity and build something lame but they don't have to.

[munchymunch]

SOM is behind the 401 S wacker tower I saw them mention that on their website, yet I can't find it anymore. Mentioned being designed for "Post-Covid Work" whatever that could mean.

[LouisVanDerWright]

Guys Thomson Center is coming down to complete Block 37.2 and you all know it.

No supertall will be built here and any proposed replaced is likely to be some stupid multi tower on podium scheme with maybe two sub 50 floor towers.

[Zapatan]

The USA is one of the most populous, wealthy and powerful countries in the world and can't manage to put up a decent sized building that's respectable by global standards in its third largest city (second largest by skyscraper count)?

That's just sad. If the Thompson Center is replaced by a 50 floor box they may as well just not tear it down at all.

[bnk]

Originally Posted by rivernorthlurker

This is the good stuff lol. Too good to be true.

Too Good because the plan and planer are dead and have been for a while now.


I was just asking about Jahns dream plan....

And if anyone else had the same idea.

[Randomguy34]

Originally Posted by bcp

What's the sale price/sf of the land? Not so hard to get a sense of how many sf/floors they need to build to pencil out, with a few assumptions

The state budgeted $200 million for the sale of the building. The developer will also have to pay for the costs of rebuilding Clark/Lake, which will add several tens of millions to the cost.