CHICAGO | 725 W Randolph | 700 FT | 41 FLOORS - Page 17

SamInTheLoop · #**321** Posted **Sep 2, 2021, 9:41 PM**

^ Could be wrong but I'd assume it's staying, especially if there's an actual business still operating out of this building. I'd think Related would have a strong preference to clear the site and start prep at once.

Just a guess but mine would be that they may have landed their construction loan and are waiting on permits ready to rock. Which, if that is the case, 2 large residential towers starting within a couple blocks of each other in the West Loop, by same company. Very nice. The apartment market is ridiculous right now - and it's going to get even more so, so seize the day.

Suburban Shadow · #**322** Posted **Sep 2, 2021, 10:12 PM**

Quote:

Originally Posted by spyguy

I wonder what the chances are for this one now?

These renders uploaded by skyguy last year show that adding the office building (Phase 2?) made the bank disappear. I hope so.

jpIllInoIs · #**323** Posted **Sep 2, 2021, 10:16 PM**

Quote:

Originally Posted by Suburban Shadow

These renders uploaded by skyguy last year show that adding the office building (Phase 2?) made the bank disappear. I hope so.

We miss you SpyGuy, I really hope all is well.

Handro · #**324** Posted **Aug 28, 2022, 7:12 PM**

Whatever happened to the proposed hotel at 725 W Randolph? IIRC it will no longer be branded Equinox, but is anything going in there?

Related really is slow.

ardecila · #**325** Posted **Aug 28, 2022, 9:25 PM**

Quote:

Originally Posted by Handro

Whatever happened to the proposed hotel at 725 W Randolph? IIRC it will no longer be branded Equinox, but is anything going in there?

Related really is slow.

The hotel market has been pretty craptacular since Covid, the only new construction hotels we've seen since Covid were in prime spots right off Michigan Ave. I don't think we'll see a hotel start in Fulton Market for awhile, especially with inflation, supply chain issues, etc.

I'm guessing Related will start that project with the office midrise on the Washington side, if they can get interest from tenants. Of course, they're not really office developers, their focus is in housing.

rgarri4 · #**326** Posted **Aug 29, 2022, 2:23 PM**

Quote:

Originally Posted by Handro

Whatever happened to the proposed hotel at 725 W Randolph? IIRC it will no longer be branded Equinox, but is anything going in there?

Related really is slow.

From what I've heard, expect a design change soon.

thegoatman · #**327** Posted **Aug 29, 2022, 2:38 PM**

Quote:

Originally Posted by rgarri4

From what I've heard, expect a design change soon.

another height cut, with more parking added, the chicago way

r18tdi · #**328** Posted **Aug 29, 2022, 5:30 PM**

Quote:

Originally Posted by rgarri4

From what I've heard, expect a design change soon.

I figured as much. Wonder if they are looking to shed the hotel rooms for more apartments.

thegoatman · #**329** Posted **Aug 29, 2022, 5:45 PM**

has there ever been a height INCREASE with these "revisions"? Everytime I hear about a design change I just know they're cutting the height and adding more parking...

Zapatan · #**330** Posted **Aug 29, 2022, 6:09 PM**

Quote:

has there ever been a height INCREASE with these "revisions"? Everytime I hear about a design change I just know they're cutting the height and adding more parking...

I think a few Chicago towers did get (slight) height increases in the past years but I too am expecting the opposite.

Hopefully it's still 150+ meters.

BuildThemTaller · #**331** Posted **Aug 29, 2022, 6:45 PM**

This project had the perfect mix of stuff that was hammered by COVID: Hotels, gyms, and commercial office space. That being said, it is a prime spot in a hot residential market. A design change might mean a taller residential tower. TBD.

SamInTheLoop · #**332** Posted **Aug 29, 2022, 10:48 PM**

Quote:

Originally Posted by ardecila

The hotel market has been pretty craptacular since Covid, the only new construction hotels we've seen since Covid were in prime spots right off Michigan Ave. I don't think we'll see a hotel start in Fulton Market for awhile, especially with inflation, supply chain issues, etc.

I'm guessing Related will start that project with the office midrise on the Washington side, if they can get interest from tenants. Of course, they're not really office developers, their focus is in housing.

As others might be hinting at, the smart move and perhaps most likely on Related's part is residential-focused. Dump the hotel component and just plow forward with a rental tower. Hold off on the office and/or change the programming there as well.

Don't know anything re nature of (former?) deal with Equinox though as it relates to hotel.

bhawk66 · #**333** Posted **Aug 30, 2022, 12:54 AM**

I recently read that Chicago was top 5 in USA tourism behind NYC, Las Vegas, Orlando and Los Angeles. I'm not convinced dumping the 'hotel element' should be a forgone conclusion.

That list is "cities" not destinations. Like Yellowstone, Yosemite, and the Grand Canyon among others...Mt. Rushmore and Niagra Falls.

SolarWind · #**334** Posted **Oct 13, 2022, 3:52 AM**

October 3, 2022

Randomguy34 · #**335** Posted **Oct 13, 2022, 4:02 AM**

Oooo, hint of a new design and the Equinox hotel portion seems to be staying.

r18tdi · #**336** Posted **Oct 13, 2022, 3:18 PM**

Interesting. Looks like a much smaller footprint with much more green space to the east?

k1052 · #**337** Posted **Oct 13, 2022, 3:41 PM**

I bet they axed the office space. Gyms got hammered during COVID but they are back now though smaller niche stuff is still in trouble. Longer term the hotel component is a better bet even if occupancies are still struggling a bit for now. In 2-3 years when this is done they could easily be fully recovered and then some.

r18tdi · #**338** Posted **Oct 13, 2022, 3:45 PM**

Quote:

Originally Posted by k1052

I bet they axed the office space. Gyms got hammered during COVID but they are back now though smaller niche stuff is still in trouble. Longer term the hotel component is a better bet even if occupancies are still struggling a bit for now. In 2-3 years when this is done they could easily be fully recovered and then some.

Or perhaps they're looking to redevelop the property in two phases by decoupling the Randolph portion from the piece they acquired south of Court Pl.

k1052 · #**339** Posted **Oct 13, 2022, 3:53 PM**

Quote:

Originally Posted by r18tdi

Or perhaps they're looking to redevelop the property in two phases by decoupling the Randolph portion from the piece they acquired south of Court Pl.

Sure, but I'm not even thinking that's likely to go office either like the previous plan. With so many more aggressive players in the submarket and their relative conservative nature I somewhat doubt Related ultimately ends up jumping in that particular pool. Though at their current...er...deliberate rate of development that parcel would not see construction until probably 2030 so who knows.

Briguy · #**340** Posted **Oct 13, 2022, 11:35 PM**

Quote:

Originally Posted by Randomguy34

Oooo, hint of a new design and the Equinox hotel portion seems to be staying.

That looks more like the entrance to the equinox gym than hotel.

It actually looks like residential, then an office lobby with revolving door, and a separate gym entrance