CHICAGO | Highrise Projects & Construction, v7

[Kngkyle]

Originally Posted by 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.

This is my expectation. Full-block podium with 5 floors of parking on top of 2 floors of (empty) retail with two 30-40 floor luxury apartment towers that ironically look like commie blocks. A restaurant or two. For good measure they'll probably disconnect from the pedway to keep the riff raff out. Construction will start 10 years after demolition.

This will be what gets built after the original proposal of a half-decent ~900ft office tower and ~600ft apartment tower falls through because the developer and multiple politicians are mired in a corruption scandal over the procurement of the site.

When construction starts in 2033 we'll all be happy to see the homeless encampment on the empty lot finally be cleared and construction set to begin. Bananas at last.

[chicubs111]

^ Haha...yea pretty much...hate rehashing the past but that one hurts...block 37 should of just be left empty lot until something iconic and unique got proposed...I feel the same for Thompson center lot. Certain locations demand nothing less.

[Zapatan]

The negativity in this thread really depresses me, I guess Chicago doesn't have the greatest track record but that can change can't it?

It would be pointless to spend so much money tearing down an already massive building like Thompson Center just to build a sub 50 floor building.

[Tombstoner]

Originally Posted by Kngkyle

This is my expectation. Full-block podium with 5 floors of parking on top of 2 floors of (empty) retail with two 30-40 floor luxury apartment towers that ironically look like commie blocks. A restaurant or two. For good measure they'll probably disconnect from the pedway to keep the riff raff out. Construction will start 10 years after demolition.

This will be what gets built after the original proposal of a half-decent ~900ft office tower and ~600ft apartment tower falls through because the developer and multiple politicians are mired in a corruption scandal over the procurement of the site.

When construction starts in 2033 we'll all be happy to see the homeless encampment on the empty lot finally be cleared and construction set to begin. Bananas at last.

Wow...cynical much?
Actually, very amusing

[Chicago_Forever]

Originally Posted by Zapatan

The negativity in this thread really depresses me, I guess Chicago doesn't have the greatest track record but that can change can't it?

It would be pointless to spend so much money tearing down an already massive building like Thompson Center just to build a sub 50 floor building.

What goes up on the JTC site has more to do with who the state sells the site to than Chicago's track record. Unfortunately, Block 37 was a result of backroom deals brought to you by crooked Mayor Daley. The site ended up in the hands on a crooked suburban developer who lacked the wherewithal, ambition, or even the desire to take advantage of the site's full potential. Btw, I believe that crooked suburban developer ended up spending some time in prison on unrelated crookedness/thievery.

This same mistake could have taken place at One Chicago. I remember Fifield (one of the worst developers in Chicago) was in the running to buy the land when the Church first put it up for sale. At the time, I thought Fifield gaining control of the site would be the worst possible outcome as they wanted to throw up a couple of their usual 40 storey beige boxes on a podium there. Luckily, JDL won out and surprised everyone when he revealed the proposal for Chicago Square (One Chicago).

Again, thank God CIM/Golub took control/bought the Tribune Tower and adjacent lot. That prime site could have also ended up in the wrong hands.

[Zapatan]

Originally Posted by Chicago_Forever

What goes up on the JTC site has more to do with who the state sells the site to than Chicago's track record. Unfortunately, Block 37 was a result of backroom deals brought to you by crooked Mayor Daley. The site ended up in the hands on a crooked suburban developer who lacked the wherewithal, ambition, or even the desire to take advantage of the site's full potential. Btw, I believe that crooked suburban developer ended up spending some time in prison on unrelated crookedness/thievery.

This same mistake could have taken place at One Chicago. I remember Fifield (one of the worst developers in Chicago) was in the running to buy the land when the Church first put it up for sale. At the time, I thought Fifield gaining control of the site would be the worst possible outcome as they wanted to throw up a couple of their usual 40 storey beige boxes on a podium there. Luckily, JDL won out and surprised everyone when he revealed the proposal for Chicago Square (One Chicago).

Again, thank God CIM/Golub took control/bought the Tribune Tower and adjacent lot. That prime site could have also ended up in the wrong hands.

I'm not familiar with Block 37, but that sucks, good thing they went to prison.

We still don't know who the state will sell it to though so am I naive to remain optimistic?

[r18tdi]

Originally Posted by bcp

Assuming that a TIF or some other vehicle offsets some of the C/L rebuild...this will need to be $1.2B to $1.6B in newly build value. Could be a 50 story cube (200k SF footprint is basically the entire block) adds 10M in built SF...probably not enough demand here.... I'd guess it's something more like One Chicago

Or something like this with a big ass podium:


Credit AS + GG

[r18tdi]

PS: the tower crane is up at 808 Cleveland.

[rgarri4]

Originally Posted by left of center

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.

But Jahn did have a plan for the existing building. They were going do have the atrium be open air, therefore eliminating the issue of insulate/ upgrading the HVAC for such a huge space.

[west-town-brad]

maybe it works for a long term investor to control the parcel as is, doing the minimum required to keep the existing building functional, keep it low rent office (state of IL for example) and figure something out in 20/40/50 years

[Tom In Chicago]

I'm beginning to think we need a specific thread for the Thompson Center redevelopment. . .

. . .

[Randomguy34]

Originally Posted by Tom In Chicago

I'm beginning to think we need a specific thread for the Thompson Center redevelopment. . .

. . .

Whoever starts the thread could also include a poll asking what folks think the height will be

[BVictor1]

https://www.chicagobusiness.com/resi...g-called-embry

$2 million condos coming to West Loop

Eleven of the roughly 46 units priced at $2 million or more are already under contract at Embry, a building planned for a site on May Street.

December 13, 2021 07:44 AM 14 MINUTES AGO
DENNIS RODKIN

The developers planning to break ground this month on a West Loop condo building have priced nearly three dozen of its units at $2 million or more, another sign of the neighborhood’s rise into the upper price echelon in the city.

Sulo Development expects to break ground by the end of December on Embry, a 16-story, 58-unit building at 21 N. May St. Of the 36 units not yet under contract, all but one are priced at $2 million or more. They include a pair of penthouses whose prices the sales team, Mark Icuss and Tim Sheahan of Compass, said they are not yet divulging.

It's almost hilarious... This is the 25th ward and the alderman is supposedly, pro affordable housing and yet he didn't care to have any here nor did he do a good job with the project at 37 S. Sangamon

[west-town-brad]

Originally Posted by BVictor1

https://www.chicagobusiness.com/resi...g-called-embry

$2 million condos coming to West Loop

Eleven of the roughly 46 units priced at $2 million or more are already under contract at Embry, a building planned for a site on May Street.

December 13, 2021 07:44 AM 14 MINUTES AGO
DENNIS RODKIN




It's almost hilarious... This is the 25th ward and the alderman is supposedly, pro affordable housing and yet he didn't care to have any here nor did he do a good job with the project at 37 S. Sangamon

maybe he know something you dont.... because If you add it all up, I would bet his ward has some of the most government subsidized affordable housing in the city

[twister244]

Originally Posted by BVictor1

https://www.chicagobusiness.com/resi...g-called-embry

$2 million condos coming to West Loop

Eleven of the roughly 46 units priced at $2 million or more are already under contract at Embry, a building planned for a site on May Street.

December 13, 2021 07:44 AM 14 MINUTES AGO
DENNIS RODKIN




It's almost hilarious... This is the 25th ward and the alderman is supposedly, pro affordable housing and yet he didn't care to have any here nor did he do a good job with the project at 37 S. Sangamon

Wow, $2 million for a condo in the West Loop? I find this kinda crazy considering there are beautiful units in the Tribune Tower (new rehabs) for $3-$4 million. Such is the interesting nature of real estate....

[thegoatman]

Originally Posted by twister244

Wow, $2 million for a condo in the West Loop? I find this kinda crazy considering there are beautiful units in the Tribune Tower (new rehabs) for $3-$4 million. Such is the interesting nature of real estate....

I keep hearing stories about the million dollar condos in the west loop, and the crazy thing is they keep selling! Could we say the West Loop is officially more desirable than downtown?

And is there any other news article about this project? paywall.

[the urban politician]

That's a nice development for another side street in the West Loop

Pretty soon there will need to be a Ferrari dealer in that neighborhood

[rivernorthlurker]

Previous version was taller/thinner. https://blockclubchicago.org/2020/07...ssion-support/ I think I preferred the previouis design but I prefer the materials/color on the redesign.

https://www.sulodevelopment.com/property/embry/

I'm eager to see see how the cladding on this one turns out. It is a very nice change of color/material from most things going up. From the interior pics on their website I can see why the price is pretty high.

From their website



Edit: Oh just realized the building has it's own site. https://embrywestloop.com/

There's actually 4 br units so I suppose that makes it a little easier to reach that $2 million.

Are there other comparable luxury buildings in the West Loop to this or is this pushing into new territory?

[r18tdi]

Originally Posted by rivernorthlurker

Are there other comparable luxury buildings in the West Loop to this or is this pushing into new territory?

The Hayden around the corner (also by Sulo) was pretty damn pricy. And the condos at Noir (previously 900 West Washington) were up there too... like this PH that sold for $5.7M. And 37 S. Sangamon should be expensive.

[rivernorthlurker]

Originally Posted by r18tdi

The Hayden around the corner (also by Sulo) was pretty damn pricy. And the condos at Noir (previously 900 West Washington) were up there too... like this PH that sold for $5.7M. And 37 S. Sangamon should be expensive.

Holy moly. Over $1000/sqft - wasn't expecting that. Thx for the info!