CHICAGO | 400 N Lake Shore Drive | 851 FT & 765 FT | 73 & ? FLOORS - Page 101

lakeshoredrive · #**2001** Posted **Jun 14, 2023, 2:48 AM**

Quote:

Originally Posted by Zapatan

Nice shot SIGSEGV!

They were already supposed to have broken ground but I'm not sure what happened.

I was always under the impression that Parcel I was pretty likely to get built.

Apparently someone bid on Tribune East Tower (if news articles are correct).

400LSD is cool but probably my least favorite of the major proposals (800+ feet).

I would say the most guaranteed would be Parcel I and NEMA 2. Tribune is 50/50 at this point. I don't think 400 LSD will happen.

The Lurker · #**2002** Posted **Jun 14, 2023, 3:53 AM**

Site I will be built once the condo market thaws. I highly doubt it would start construction without presales.

Anyone know how units are selling at Cirrus?

DalronJ · #**2003** Posted **Jun 14, 2023, 4:56 PM**

From my understanding, 400 LSD is on hold hoping they can catch an increase in condo demand and shoot for a height increase. I personally hope the shorter tower can be at least 850'+ for such a prominent location.

r18tdi · #**2004** Posted **Jun 14, 2023, 6:52 PM**

Quote:

Originally Posted by DalronJ

From my understanding, 400 LSD is on hold hoping they can catch an increase in condo demand and shoot for a height increase.

It's all rentals.

AlpacaObsessor · #**2005** Posted **Jun 15, 2023, 3:10 AM**

Quote:

Originally Posted by The Lurker

Site I will be built once the condo market thaws. I highly doubt it would start construction without presales.

Anyone know how units are selling at Cirrus?

Only comment I've heard was from a consultant that worked on the project last year who said that the Cascade was performing farther above expectations than Cirrus. Wasn't sure if it was regarding the general strength of rent growth at the time, or the weakness in the condo market (sans the ultra-luxury end of the market).

ChiPlanner · #**2006** Posted **Jun 15, 2023, 1:37 PM**

Quote:

Originally Posted by DalronJ

From my understanding, 400 LSD is on hold hoping they can catch an increase in condo demand and shoot for a height increase. I personally hope the shorter tower can be at least 850'+ for such a prominent location.

Staged is all- one tower, then the other. Construction start before year end.

Tom In Chicago · #**2007** Posted **Jun 15, 2023, 3:06 PM**

Quote:

Originally Posted by AlpacaObsessor

Only comment I've heard was from a consultant that worked on the project last year who said that the Cascade was performing farther above expectations than Cirrus. Wasn't sure if it was regarding the general strength of rent growth at the time, or the weakness in the condo market (sans the ultra-luxury end of the market).

That seems to make sense. . . I would expect a general slowdown in condo sales if only due to interest rates coupled with the existing tax burden. . .

. . .

r18tdi · #**2008** Posted **Jun 15, 2023, 4:05 PM**

And the St. Regis reportedly still has 150 unsold condos.

Zapatan · #**2009** Posted **Jun 18, 2023, 12:03 AM**

Quote:

Originally Posted by r18tdi

And the St. Regis reportedly still has 150 unsold condos.

According to Wikipedia it has 393 total, is it normal to sell more than half in a buildings first few years of existence?

NSW2492 · #**2010** Posted **Jun 20, 2023, 12:32 PM**

Quote:

Originally Posted by Zapatan

According to Wikipedia it has 393 total, is it normal to sell more than half in a buildings first few years of existence?

I would think a more important question would be the mix of units sold. It's all about dollar sales, not not number of units, you can't pay your debts in number of units sold. St. Regis still has a pretty substantial number of unsold full floor units, so those weigh significantly more heavily than a 1BR on the 15th floor. If the competition is looking at the fact that those large, expensive units aren't selling, they may as well build another 400' building full of inexpensive 1-2BRs, or if the land was particularly prominent/expensive, it makes sense to wait until they believe larger, higher units will sell quick and at a premium.

Kngkyle · #**2011** Posted **Jun 20, 2023, 3:48 PM**

Quote:

Originally Posted by Zapatan

According to Wikipedia it has 393 total, is it normal to sell more than half in a buildings first few years of existence?

It used to be normal to sell that many units pre-construction....

Jibba · #**2012** Posted **Jun 21, 2023, 4:15 PM**

Wouldn't care in the slightest if this proposal gets killed. I don't care for the design. And if this dying increases the chances of Site I in LSE getting built, then chop this thing.

Steely Dan · #**2013** Posted **Jun 24, 2023, 1:40 PM**

I love the cascading waterfall effect of the design of this project, and I hope it can still find a way to get built.

ChiPlanner · #**2014** Posted **Jul 22, 2023, 2:37 PM**

This was approved at the Illinois Housing Development Authority’s Board meeting yesterday for financing of the north tower. 80/20 marker/affordable unit split. It’s happening!

BrickellBased · #**2015** Posted **Jul 22, 2023, 2:56 PM**

It's been almost happening for 15 years. We'll believe it once there are shovels in the ground. God willing.

Quote:

Originally Posted by ChiPlanner

This was approved at the Illinois Housing Development Authority’s Board meeting yesterday for financing of the north tower. 80/20 marker/affordable unit split. It’s happening!

Randomguy34 · #**2016** Posted **Jul 22, 2023, 3:56 PM**

Pending permits are in place, this is not a drill!

462 E NORTH WATER ST

Quote:

DDS 2019 CBC: CAISSONS ONLY (VERTICAL PENETRATION ONLY) PERMIT FOR THE NEW CONSTRUCTION OF A 73 STORY HIGH RISE RESIDENTIAL BUILDING WITH 3 BASEMENT LEVELS. ALL CAISSONS TO BE DRILLED FROM EXISTING GRADE. (OCC GROUPS: R-2, S-2, A-2, A-3, B; CONST I-A) CON

munchymunch · #**2017** Posted **Jul 22, 2023, 4:18 PM**

Quote:

Originally Posted by Randomguy34

Pending permits are in place, this is not a drill!

462 E NORTH WATER ST

Super exciting, I think this design is super solid. Hopefully the finished product matches the renderings. 800ft+ towers continue in Chicago.

twister244 · #**2018** Posted **Jul 22, 2023, 4:41 PM**

What?????!!!!!!!!!!!

So, there's financing in place and pending caison permits??????

lakeshoredrive · #**2019** Posted **Jul 22, 2023, 5:30 PM**

holy shit wow! i did not think this was happening. so the north tower is 875 ft?

Zapatan · #**2020** Posted **Jul 22, 2023, 5:31 PM**

Awesome, same design and height I'm assuming?

Quote:

holy shit wow! i did not think this was happening. so the north tower is 875 ft?

Originally yes, but it mentions 73 floors and not 74 (what it used to be). Hopefully the height wasn't cut.