HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > General Development


    Old Post Office Redevelopment Tower [1] in the SkyscraperPage Database

Building Data Page   • Comparison Diagram   • Chicago Skyscraper Diagram

Map Location
Chicago Projects & Construction Forum

Reply

 
Thread Tools Display Modes
     
     
  #461  
Old Posted Oct 8, 2014, 4:25 PM
Swicago Swi Sox's Avatar
Swicago Swi Sox Swicago Swi Sox is offline
Registered User
 
Join Date: Dec 2011
Location: Chicago
Posts: 244
Quote:
Originally Posted by k1052 View Post
I am just excited that this thread was bumped with actual news, and not someone asking when this tower was going to break ground...
Reply With Quote
     
     
  #462  
Old Posted Oct 8, 2014, 4:34 PM
SamInTheLoop SamInTheLoop is offline
you know where I'll be
 
Join Date: Sep 2006
Posts: 5,535
^^ Most certainly true. He doesn't remotely have what it takes as far as actual development. No track record for large, complex, mixed-use development whatsoever. What's funny is he didn't even have nice renderings - 'sales brochurey stuff' put together. First Booth Hansen (surely they knew what was going on here with this guy - maybe they 'threw' the designs they "threw" together, because they were pretty bad - certainly uncharacteristically bad for that firm), and then Antunovich, which was being, well, "Antunafish" per usual........


People need to forget about the fanciful dreams for the adjacent land parcels and start solely focusing on adaptive re-use of the building itself - the other stuff was just a mis-direct. Sterling Bay's plan offered this necessary focus, credibility, the experience, etc etc necessary to get this done.....but this yahoo screwed his chances....
__________________
It's simple, really - try not to design or build trash.
Reply With Quote
     
     
  #463  
Old Posted Oct 8, 2014, 7:51 PM
the urban politician the urban politician is offline
The City
 
Join Date: Jul 2004
Location: Chicago region
Posts: 21,375
^ Yep. Davies needs to go away
__________________
Supercar Adventures is my YouTube channel:

https://www.youtube.com/channel/UC4W...lUKB1w8ED5bV2Q
Reply With Quote
     
     
  #464  
Old Posted Oct 8, 2014, 10:06 PM
Buckman821's Avatar
Buckman821 Buckman821 is offline
Registered User
 
Join Date: Jun 2008
Posts: 485
Wow. Davies is a first class moron. This news has seriously ruined my day.
Reply With Quote
     
     
  #465  
Old Posted Oct 8, 2014, 11:02 PM
emathias emathias is offline
Adoptive Chicagoan
 
Join Date: Sep 2007
Location: River North, Chicago, Illinois
Posts: 5,157
Quote:
Originally Posted by Loopy View Post
I don't think he ever intended to develop the property. His motive for entertaining these proposals was simply to create a nice sales brochure.
I find that hard to believe if Sterling's offer really was double his investment and likely an opportunity to participate in future development in some way financially. Doubling your money plus upside in five years may not be up there with the best hedge fund returns, but it's certainly not small either. I think it's more likely that he's simply a really rich guy who sees no reason to rush things even though it costs the City of Chicago a fair bit of opportunity cost because maybe he'll fall into an opportunity to actually do something enormous there and get all the credit for it then. I think a lot of unheard-of but fantastically rich people like the idea of using their money just to play with big things at their own pace.
Reply With Quote
     
     
  #466  
Old Posted Oct 9, 2014, 6:43 AM
LaSalle.St.Station's Avatar
LaSalle.St.Station LaSalle.St.Station is offline
Registered User
 
Join Date: Jul 2007
Posts: 335
Use eminent domain to transfer this over to a serious developer. Simply based on the fact that this is a deteriorating landmark warrants it. I'd give Davies another year to show intent to develop or sell, and if no, eminent domain his ass.
Reply With Quote
     
     
  #467  
Old Posted Oct 9, 2014, 6:19 PM
Rizzo Rizzo is offline
Registered User
 
Join Date: Jun 2004
Location: Chicago
Posts: 7,280
Deleted. Wrong thread
Reply With Quote
     
     
  #468  
Old Posted Oct 9, 2014, 6:54 PM
wierdaaron's Avatar
wierdaaron wierdaaron is offline
Registered User
 
Join Date: Nov 2012
Location: Chicago
Posts: 2,011
Quote:
Originally Posted by LaSalle.St.Station View Post
Use eminent domain to transfer this over to a serious developer. Simply based on the fact that this is a deteriorating landmark warrants it. I'd give Davies another year to show intent to develop or sell, and if no, eminent domain his ass.
There is a highway going through it. I bet that would help.
Reply With Quote
     
     
  #469  
Old Posted Oct 9, 2014, 7:13 PM
ardecila's Avatar
ardecila ardecila is offline
TL;DR
 
Join Date: Jun 2006
Location: the city o'wind
Posts: 16,352
Quote:
Originally Posted by LaSalle.St.Station View Post
Use eminent domain to transfer this over to a serious developer. Simply based on the fact that this is a deteriorating landmark warrants it. I'd give Davies another year to show intent to develop or sell, and if no, eminent domain his ass.
Just where is the city going to come up with $40M to purchase the building?

Admittedly, the city is pursuing eminent domain against General Mediterranean for Riverside Park. But that's a far larger site that demands careful planning and probably demands a thorough public process. The city can also add value by building infrastructure like the Wells-Wentworth Connector and parkland, and maybe even make money on the thing. The Post Office only covers two blocks, not 18, and success or failure there is not crucial.
__________________
la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
Reply With Quote
     
     
  #470  
Old Posted Oct 10, 2014, 3:34 PM
UPChicago's Avatar
UPChicago UPChicago is offline
Vote for me for Mayor!
 
Join Date: Apr 2013
Location: Chicago
Posts: 797
Quote:
Originally Posted by ardecila View Post
Just where is the city going to come up with $40M to purchase the building?

Admittedly, the city is pursuing eminent domain against General Mediterranean for Riverside Park. But that's a far larger site that demands careful planning and probably demands a thorough public process. The city can also add value by building infrastructure like the Wells-Wentworth Connector and parkland, and maybe even make money on the thing. The Post Office only covers two blocks, not 18, and success or failure there is not crucial.
might not be crucial but GOD is it a blight!
Reply With Quote
     
     
  #471  
Old Posted Oct 10, 2014, 5:45 PM
Ryanrule Ryanrule is offline
BANNED
 
Join Date: Sep 2013
Posts: 772
Quote:
Originally Posted by ardecila View Post
Just where is the city going to come up with $40M to purchase the building?

Admittedly, the city is pursuing eminent domain against General Mediterranean for Riverside Park. But that's a far larger site that demands careful planning and probably demands a thorough public process. The city can also add value by building infrastructure like the Wells-Wentworth Connector and parkland, and maybe even make money on the thing. The Post Office only covers two blocks, not 18, and success or failure there is not crucial.
nuts to purchasing. just take it.
Reply With Quote
     
     
  #472  
Old Posted Oct 10, 2014, 6:19 PM
ardecila's Avatar
ardecila ardecila is offline
TL;DR
 
Join Date: Jun 2006
Location: the city o'wind
Posts: 16,352
Are you aware of how eminent domain works? The government still has to pay the owner.

Fifth Amendment to the US Constitution
Quote:
No person shall be... deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
The opportunity for the city to get the building for free died when the Post Office decided to sell it.
__________________
la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
Reply With Quote
     
     
  #473  
Old Posted Oct 10, 2014, 10:52 PM
wierdaaron's Avatar
wierdaaron wierdaaron is offline
Registered User
 
Join Date: Nov 2012
Location: Chicago
Posts: 2,011
I think the only hope is continuous media ridicule of Davies until he realizes it's not worth the trouble and sells it. He passed up a 625% return on his investment when Sterling Bay offered $150m for it, so I don't know if he can be reasoned with.

Maybe SB could team up with another developer to raise enough cash to make a deal.

This whole thing makes me angry. Woooo-sahhh.
Reply With Quote
     
     
  #474  
Old Posted Oct 11, 2014, 1:09 AM
ardecila's Avatar
ardecila ardecila is offline
TL;DR
 
Join Date: Jun 2006
Location: the city o'wind
Posts: 16,352
Sterling Bay was going to put in $150M of capital investment, that wasn't an offer to purchase.

I'm guessing Sterling Bay wanted to do something basic - large floorplate office and parking - and Davies rejected this vision because he still wants to build some kind of futuristic mixed-use arcology.
__________________
la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
Reply With Quote
     
     
  #475  
Old Posted Oct 13, 2014, 5:09 PM
munchymunch's Avatar
munchymunch munchymunch is offline
MPLSXCHI
 
Join Date: Feb 2014
Location: Omicron Persei 8
Posts: 1,090
__________________
"I don't want to be interesting. I want to be good." -Ludwig Mies van der Rohe
Reply With Quote
     
     
  #476  
Old Posted Oct 13, 2014, 6:15 PM
wmarczyk333 wmarczyk333 is offline
Registered User
 
Join Date: Oct 2014
Posts: 13
Dead

Why are we still talking about this , this project is dead, thread should be remove.
Reply With Quote
     
     
  #477  
Old Posted Oct 14, 2014, 2:54 PM
UPChicago's Avatar
UPChicago UPChicago is offline
Vote for me for Mayor!
 
Join Date: Apr 2013
Location: Chicago
Posts: 797
Quote:
Originally Posted by munchymunch View Post
What is this mess?
Reply With Quote
     
     
  #478  
Old Posted Oct 14, 2014, 6:15 PM
SamInTheLoop SamInTheLoop is offline
you know where I'll be
 
Join Date: Sep 2006
Posts: 5,535
Quote:
Originally Posted by ardecila View Post
Sterling Bay was going to put in $150M of capital investment, that wasn't an offer to purchase.

I'm guessing Sterling Bay wanted to do something basic - large floorplate office and parking - and Davies rejected this vision because he still wants to build some kind of futuristic mixed-use arcology.

The Crain's article, citing sources close to the deal, clearly stated Sterling Bay offered to buy the property from Davies for $150 mil. Are you stating that you know that is not factual?
__________________
It's simple, really - try not to design or build trash.
Reply With Quote
     
     
  #479  
Old Posted Oct 14, 2014, 6:18 PM
SamInTheLoop SamInTheLoop is offline
you know where I'll be
 
Join Date: Sep 2006
Posts: 5,535
At any rate,

Imagine a world in which either the Post Office wasn't auctioned off until the last few couple years, or another in which Sterling Bay had risen to its present prominence as far as visionary W Loop adaptive re-use 5 or 6 years ago. In either world, there is probably a half-decent chance Sterling Bay might now be the present owner of the post office, and we'd have never heard the name of this screwball Davies in Chicago......

A shame.....
__________________
It's simple, really - try not to design or build trash.
Reply With Quote
     
     
  #480  
Old Posted Oct 14, 2014, 7:10 PM
Steely Dan's Avatar
Steely Dan Steely Dan is online now
devout Pizzatarian
 
Join Date: Jul 2001
Location: Lincoln Square, Chicago
Posts: 29,605
Quote:
Originally Posted by wmarczyk333 View Post
Why are we still talking about this , this project is dead, thread should be remove.
the part of this "proposal" that involved fantastical supertall towers was never alive to begin with.

something will eventually be done with the old post office hulk, and this will remain the thread to discuss that eventuality.
__________________
"Missing middle" housing can be a great middle ground for many middle class families.
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Global Projects & Construction > General Development
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 2:25 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.