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  #161  
Old Posted Apr 10, 2016, 9:32 PM
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Originally Posted by LouisVanDerWright View Post
No one got pictures of the soil testing rigs? I'd love to have seen where they were drilling.
http://www.chicagoarchitecture.org/2...f-point-south/
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  #162  
Old Posted Apr 10, 2016, 9:32 PM
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  #163  
Old Posted Apr 11, 2016, 2:38 PM
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they need to know if the surface parking lot will be stable?
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  #164  
Old Posted Apr 11, 2016, 3:00 PM
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they need to know if the surface parking lot will be stable?
No I believe these are soil rigs so they can determine the amount of contaminating soil in the area.
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  #165  
Old Posted Apr 11, 2016, 3:49 PM
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yeah kidding. they filed paperwork at one point suggesting it would be turned back into parking until they build. Let's hope not
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  #166  
Old Posted Apr 11, 2016, 9:00 PM
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Soil testing usually means that they are working on the engineering of the building which isn't exactly cheap, but also ain't exactly impending construction either. They probably wanted to get that testing out of the way before paving it so they don't tear their new lot up drilling holes should they want to proceed with engineering drawings for either project. It's forward momentum, but who knows when these projects will start. Could be waiting another decade!
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  #167  
Old Posted Apr 11, 2016, 11:00 PM
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Originally Posted by LouisVanDerWright View Post
Soil testing usually means that they are working on the engineering of the building which isn't exactly cheap, but also ain't exactly impending construction either. They probably wanted to get that testing out of the way before paving it so they don't tear their new lot up drilling holes should they want to proceed with engineering drawings for either project. It's forward momentum, but who knows when these projects will start. Could be waiting another decade!
I am going to go out on a limb and guess that we will be hearing about specifically the south tower pretty soon. I suspect that the south tower is going to be part condo part hotel. If that's the plan it won't surprise me if they move on this sooner rather than later. The market suggests we are right at the beginning of a little condo boom. Prices are above 2008 levels and are expected to continue to rise.
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  #168  
Old Posted Apr 11, 2016, 11:29 PM
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Originally Posted by rlw777 View Post
I am going to go out on a limb and guess that we will be hearing about specifically the south tower pretty soon. I suspect that the south tower is going to be part condo part hotel. If that's the plan it won't surprise me if they move on this sooner rather than later. The market suggests we are right at the beginning of a little condo boom. Prices are above 2008 levels and are expected to continue to rise.
Isn't this generally considered near the peak of the hotel boom though? They're also building another luxury hotel as part of Vista.
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  #169  
Old Posted Apr 12, 2016, 3:00 AM
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  #170  
Old Posted Apr 12, 2016, 3:25 AM
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Isn't this generally considered near the peak of the hotel boom though? They're also building another luxury hotel as part of Vista.
Yes I think most folks think we are at or near the peak of the hotel boom. However it's worth noting that there are several hotel proposals very close to wolf point that may or may not get off the ground. Like 590 W Madison / Hubbard & Lasalle / and a few in the west loop. Also I'm not sure how much Magellan really cares about competition between Vista and the hypothetical WPS tower. I think that would be mostly the concern of Hines and Wanda.
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  #171  
Old Posted Apr 12, 2016, 2:49 PM
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if they were smart they would try to deliver before wanda, but maybe that's a stretch
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  #172  
Old Posted Apr 13, 2016, 2:46 AM
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if they were smart they would try to deliver before wanda, but maybe that's a stretch
Big stretch as this has to have more neighborhood meetings and would have to go back before the plan commission.
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  #173  
Old Posted Apr 13, 2016, 3:49 AM
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I wonder how accurate this is...

Quote:
One big discussion was on the Wolf Point project with its developer Joseph P. Kennedy Enterprises’ chairman Chris Kennedy. This mega project has been in the process for some time. It will eventually be home to four buildings: a parking garage, which is open now; an apartment tower; and two other towers, one with one million square feet of office, with residential on top, and another that will likely house apartments. f

link


If this is true, it would be hard to imagine this one starting during the current office cycle.
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Last edited by munchymunch; Apr 13, 2016 at 4:09 AM.
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  #174  
Old Posted Apr 13, 2016, 4:36 AM
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Originally Posted by munchymunch View Post
I wonder how accurate this is...



link


If this is true, it would be hard to imagine this one starting during the current office cycle.

Just glancing at that website and I'm already leaning towards not trusting their word. My guess is they misheard, office with residential would just be inefficient building
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  #175  
Old Posted Apr 13, 2016, 4:40 AM
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Originally Posted by munchymunch View Post
I wonder how accurate this is...



link


If this is true, it would be hard to imagine this one starting during the current office cycle.
I would think someone got mixed up. The PD includes around 1400 residential units 450 hotel rooms and then office space.
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  #176  
Old Posted Apr 13, 2016, 4:51 AM
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Originally Posted by Kumdogmillionaire View Post
Just glancing at that website and I'm already leaning towards not trusting their word. My guess is they misheard, office with residential would just be inefficient building
Going through, you'd see that they are a legit company. Working with JDS development on a supertall tower in New York.
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  #177  
Old Posted Apr 13, 2016, 2:20 PM
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Going through, you'd see that they are a legit company. Working with JDS development on a supertall tower in New York.
Them being a real business isn't my point
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  #178  
Old Posted Apr 13, 2016, 2:40 PM
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Originally Posted by Kumdogmillionaire View Post
Just glancing at that website and I'm already leaning towards not trusting their word. My guess is they misheard, office with residential would just be inefficient building
While not as common, there are plenty of examples of office/residential mixed use buildings. JHC would be a pretty good analogue for what is planned here.

I don't think claiming it would be 'just inefficient' actually weighs on it's likelihood.
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  #179  
Old Posted Apr 13, 2016, 3:21 PM
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Originally Posted by jc5680 View Post
While not as common, there are plenty of examples of office/residential mixed use buildings.
i can't think of too many office/residential mixed-use towers in chicago:

1. JHC
2. 900 N michigan
3. olympia center
4. one magnificent mile
5. mid-continental plaza (built as all office, retrofit of upper floors to residential)
6. doral plaza

am i missing any?
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Last edited by Steely Dan; Apr 13, 2016 at 3:33 PM.
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  #180  
Old Posted Apr 13, 2016, 3:39 PM
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Quote:
Originally Posted by Steely Dan View Post
i can't think of too many office/residential mixed-use towers in chicago:

1. JHC
2. 900 N michigan
3. olympia center
4. one magnificent mile
5. mid-continental plaza (built as all office, retrofit of upper floors to residential)
6. doral plaza

am i missing any?
1 E Erie / Ontario Place.


Also, I would not take much stock into this information but on Costar (a commercial real estate site used by commercial brokers) it list the south tower as 1,800,000 SF proposed 2018 and the east tower as 1,500,000 SF proposed 2020. Once again, I would take that information with a grain of salt.
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