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  #1681  
Old Posted Jun 20, 2022, 2:48 PM
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Quote:
Originally Posted by SIGSEGV View Post
To be fair, they probably wouldn't put "large, loud construction project coming soon!" in their promotional material
Very true, and perhaps one of the reasons Lee was playing off phase 2 as "not serious." The goal right now is to sell every last unit from phase 1. Still not holding out much hope for the supertall to built as currently approved.
     
     
  #1682  
Old Posted Jan 24, 2023, 10:40 PM
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Anyway, Tribune East Tower makes a reappearance in the news, not to get anyone's hopes up or anything as I've never heard of this source and it's no new news, the author probably never heard the rumor about it being downsized or cancelled.

But thought I'd share it anyway.

https://chicagoagentmagazine.com/202...ne-east-tower/

I noticed this, perhaps this is why they're being quiet about it?

Quote:
Standing at 1,422 feet upon completion, the 102-story tower will dwarf its neighbor, the historic, 36-story Tribune Tower which drew early opposition from prospective Tribune Tower buyers

Last edited by Steely Dan; Jan 24, 2023 at 11:21 PM.
     
     
  #1683  
Old Posted Jan 26, 2023, 10:50 PM
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Quote:
Originally Posted by Zapatan View Post
Anyway, Tribune East Tower makes a reappearance in the news, not to get anyone's hopes up or anything as I've never heard of this source and it's no new news, the author probably never heard the rumor about it being downsized or cancelled.

But thought I'd share it anyway.

https://chicagoagentmagazine.com/202...ne-east-tower/

I noticed this, perhaps this is why they're being quiet about it?
The document that Chicago Agent site is referencing is from May 2020. This would be a nice one to see soon, but it doesn't look like it for now.
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  #1684  
Old Posted Mar 7, 2023, 11:20 PM
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https://www.cimgroup.com/bidding-opportunities

Quote:
a2Z40000002oXdaEAE
Location:
Chicago IL
Trade:
General Contractor
Est. Construction Start:
February - 2024
Est. Construction End:
September - 2027
Description:
Fully-entitled development site adjacent to existing Tribune Tower Residences. Entitlement allows for approximately 1.3M square feet and a height of 1442 feet. The site is allowed up to 564 units (125 condos/439 rentals) 250 hotel keys and 426 parking spaces.
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  #1685  
Old Posted Mar 7, 2023, 11:26 PM
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Wha??
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  #1686  
Old Posted Mar 7, 2023, 11:28 PM
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Holy shit!!
     
     
  #1687  
Old Posted Mar 7, 2023, 11:32 PM
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  #1688  
Old Posted Mar 7, 2023, 11:42 PM
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I saw bidding and assumed they were selling the site but I guess not?

If that's not the case and they actually want to build it then damn straight
     
     
  #1689  
Old Posted Mar 7, 2023, 11:57 PM
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damn so we have to wait until next year for it to start construction? but this bidding news is hopeful news that this will actually get built
     
     
  #1690  
Old Posted Mar 8, 2023, 12:55 AM
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It’s also worth noting the bid was listed by the developer CIM Group.
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  #1691  
Old Posted Mar 8, 2023, 12:55 AM
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I sure hope this is true. What a great looking skyscraper this will be!!!
     
     
  #1692  
Old Posted Mar 8, 2023, 1:02 AM
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Quote:
Originally Posted by Urbannizer View Post
It’s also worth noting the bid was listed by the developer CIM Group.
What does this mean? Is this credible and that they are actually serious about building this?
     
     
  #1693  
Old Posted Mar 8, 2023, 2:29 AM
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As recently as a couple of weeks ago that page said:

Quote:
Ground-up mixed-use development located on the site immediately east of the Tribune Tower currently a parking lot. Final scale of project TBD. The project is currently going through entitlements with Tribune West (the two projects are part of the same Planned Development).

Est. Construction Start Date: Mar-2023
Est. Construction End Date: Oct-2026
http://web.archive.org/web/202302140...front-plaza-dr

vs what it says now:

Quote:
Fully-entitled development site adjacent to existing Tribune Tower Residences. Entitlement allows for approximately 1.3M square feet and a height of 1442 feet. The site is allowed up to 564 units (125 condos/439 rentals) 250 hotel keys and 426 parking spaces.


Est. Construction Start:
February - 2024
Est. Construction End:
September - 2027
https://www.cimgroup.com/bidding-opportunities

So that is indeed a promising update...
     
     
  #1694  
Old Posted Mar 8, 2023, 2:50 AM
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I haven't seen any recent publicly disclosed sales figures for the Tribune Tower remodel, but I see 69 units sold on the MLS, with 4 additional under contract, and 10 currently listed. With 162 units total presumably they just don't have the entire inventory listed on MLS - which makes sense. This would imply they have 89 more units to sell and are thus 45% sold or under contract.

Of those sales, 37 were in 2021 (when the remodel finished, so that's probably a lot of pre-sales), 31 in 2022, and 5 so far in 2023.

At that rate they should be pretty much all sold around the time they'd need to start sales on Tribune Tower East. With it being mostly rental and hotel keys, they could probably get financing and kick off construction without presales anyway.

The new timing kinda makes sense and rents in the area have really skyrocketed over the past year. There's also very little new supply even on the drawing board. Is there anything in Streeterville other than the Spire site? Maybe some boutique projects in nearby River North but almost all new supply is in West Loop.
     
     
  #1695  
Old Posted Mar 8, 2023, 3:35 AM
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I know beggars can’t be choosers but man, 10 more feet and we’d have a new tallest building
     
     
  #1696  
Old Posted Mar 8, 2023, 3:46 AM
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Hot damn.... I had written this thing off for dead. I am still skeptical given the economic headwinds that will continue over the coming months.

However..... This is one proposal I would kill for. The design is sexy in itself, but that sleek modern up against the Tribune Tower?...... My heart would melt.
     
     
  #1697  
Old Posted Mar 8, 2023, 3:58 AM
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Since the bidding page officially lists the height as 1,442 feet, can we finally change the title of the thread to this height?

Edit: Thank you

Last edited by Randomguy34; Mar 8, 2023 at 4:11 AM.
     
     
  #1698  
Old Posted Mar 8, 2023, 4:02 AM
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  #1699  
Old Posted Mar 8, 2023, 4:15 AM
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Since the narrative was that Golub seemed less convinced that this was a concrete proposal, I wonder if CIM bought them out of the project and wants to move forward with it? Just spitballing here...
     
     
  #1700  
Old Posted Mar 8, 2023, 2:34 PM
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I thought this was dead after some executive Golub schmuck joked that it was never a real proposal anyway
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