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  #1841  
Old Posted Feb 9, 2021, 7:48 AM
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dropdeaded209 dropdeaded209 is offline
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looks like all the detailing for the crown fell by the wayside... too bad
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  #1842  
Old Posted Feb 9, 2021, 5:19 PM
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Jibba Jibba is offline
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Quote:
Originally Posted by dropdeaded209 View Post
looks like all the detailing for the crown fell by the wayside... too bad
I think that's an improvement. The uninterrupted façade will help promote the sculptural aspect of the design, given the dimensionality of its curvy shape.
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  #1843  
Old Posted Feb 26, 2021, 1:49 PM
CaptainJilliams CaptainJilliams is offline
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Renderings Reveal Updated Design For 1000M At 1000 S Michigan Avenue In South Loop



Renderings have been revealed of the updated design for 1000M, a residential tower located at 1000 S Michigan Avenue in South Loop. Located on an empty lot, the site fronts S Michigan Avenue midblock between E 9th Street and E 11th Street. Time Equities and JK Equities are the developers behind the project.

https://chicagoyimby.com/2021/02/ren...outh-loop.html
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  #1844  
Old Posted Feb 26, 2021, 2:49 PM
Barrelfish Barrelfish is offline
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Quote:
Originally Posted by CaptainJilliams View Post

Renderings have been revealed of the updated design for 1000M, a residential tower located at 1000 S Michigan Avenue in South Loop. Located on an empty lot, the site fronts S Michigan Avenue midblock between E 9th Street and E 11th Street. Time Equities and JK Equities are the developers behind the project.

https://chicagoyimby.com/2021/02/ren...outh-loop.html
Here is the key quote from that article:
Quote:
The change in unit type from condos to rentals was a result of the financing structure behind the project. The developers secured construction financing in two phases, where the provider had the option to change or rescind funds for the second phase if they chose to. In the late spring of 2020, financing for the second phase was not released by the provider and the project was halted. The developers hope that the change in unit type will allow for the reinstatement of financing either by the current provider or a new provider. Final negotiations on financing are still underway.
So as we suspected, COVID was just a fig leaf for the pause in construction last year. And they still have not secured financing to actually finish it.
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  #1845  
Old Posted Feb 26, 2021, 4:36 PM
SamInTheLoop SamInTheLoop is offline
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So according to article, all rentals, now 738 units. Big boost in density. I wish them all the luck in the world in pulling this off.

I haven't researched, but I wonder if these developers have any relevant experience (let alone a strong established track record) with very large rental development? If not, that will certainly not make things easier to pull off financing here. It's a heavy lift, and I hope they can get it done. If they run into real difficulty in the months ahead, would appear to be a good opportunity to JV with an established player in the market, or potentially sell to one that can hit the ground running.
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  #1846  
Old Posted Feb 26, 2021, 5:24 PM
Chi-Sky21 Chi-Sky21 is offline
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We just better not end up with a half built skeleton to look at for years and years from Grant Park and the Lake.
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