CHICAGO | Highrise Projects & Construction, v7

[Steely Dan]

once again folks, 465 N Park has its own dedicated thread: http://forum.skyscraperpage.com/showthread.php?t=224901

please post all updates and comments regarding it to that thread, thanks.

[Kngkyle]

Originally Posted by Steely Dan

once again folks, 465 N Park has its own dedicated thread: http://forum.skyscraperpage.com/showthread.php?t=224901

please post all updates and comments regarding it to that thread, thanks.

It's probably being overlooked because it doesn't have the tag for it to show in the Chicago P&C section. Although I realize you don't have the ability to fix it yourself.

[KWILLSKYLINE]

Originally Posted by Kngkyle

It's probably being overlooked because it doesn't have the tag for it to show in the Chicago P&C section. Although I realize you don't have the ability to fix it yourself.

Yeah, sorry about that, didn't mean to clutter things up. but I'm not seeing a seperate tag on my Chicago home page either.

[Randomguy34]

Originally Posted by superfishy

What do you guys think are the chances are of the Gateway Tower being constructed?

If I'm reading this new zoning request correctly, it looks like the developers are giving it a second go: https://chicago.legistar.com/Legisla...vanced&Search=

The only difference between this new plan and old one is that the unit count has dropped by ~40 (now 586 units), and the max height allowed for the two towers is 180 ft instead of 190 ft.

[marothisu]

1136 S Wabash got issued its first permits yesterday. 26 stories, 320 units, 143 parking spaces, and ground floor retail. Replaces a surface parking lot.

[ithakas]

Interesting story on the increasing difficulty of getting a construction loan for apartments: http://www.chicagobusiness.com/artic...truction-loans

I wonder how much this is driving the slowdown in new proposals we've seen this year. I'd love to start seeing some non-luxury condo proposals come out of the woodwork (like CMK specializes in).

[Jibba]

Soil testing has started at 312 W Huron.

[k1052]

Originally Posted by ithakas

Interesting story on the increasing difficulty of getting a construction loan for apartments: http://www.chicagobusiness.com/artic...truction-loans

I wonder how much this is driving the slowdown in new proposals we've seen this year. I'd love to start seeing some non-luxury condo proposals come out of the woodwork (like CMK specializes in).

I think this will only really affect smaller developers. The big guys have a lot more places to look for money (institutional investors, pensions, private equity, etc).

[the urban politician]

I also think the apartment market is softening. I'm experiencing it personally. There are only so many renters to go around

[Chi-Sky21]

Originally Posted by the urban politician

I also think the apartment market is softening. I'm experiencing it personally. There are only so many renters to go around

It is softening and there are still thousands more in the pipeline. Glad one of my new tenants just signed a multi year lease!

[Randomguy34]

This month's plan commission is a pretty big one. Development in many different parts of the city. Wolf Point East is also on the agenda: https://www.cityofchicago.org/conten...2016_Legal.pdf

[The Lurker]

Anybody remember this one? I couldnt find this project on page 1.
13 stories, 185 feet by Sterling Bay just a half a block from Google. Article from Chicago architecture suggests it may be starting up soon:

http://www.chicagoarchitecture.org/2...in-meatpacking

[BVictor1]

October 2016 Plan Commission Agenda

A proposed residential business planned development submitted by Landmark Wabash, LLC, for the property generally located at 1354-1408 South Wabash Avenue. The Applicant is proposing to construct a 296-unit, 290’ building with approximately 4,500 square feet of retail on the ground floor, 80 off-street parking spaces and 178 bicycle spaces. The underlying zoning for the site is currently DX-7, Downtown Mixed-Use District; and, while it will remain as such, the applicant will seek to utilize 58,544 square feet of bonus floor area through the Neighborhood Opportunity Bonus. (3RD Ward)


A presentation to the Chicago Plan Commission for Planned Development No. 98, submitted by Wolf Point Owners, LLC, for the property generally located at 316-26 North Orleans Street. The applicant proposes to construct the 660’ east tower which will contain 930,000 square feet of floor area, 700 residential units, retail and accessory and related uses. No change is being requested to any other aspect of Planned Development No. 98. (42nd Ward)


A proposed residential planned development submitted by LG Development Group, LLC, for the property generally located at 57-61 W. Erie Street. The proposed planned development would be comprised of two sub-areas. Sub-Area A would be the site of a proposed 12-story, 10 unit building which includes lobby space and parking for 10 vehicles on the ground floor. Sub-Area B is currently improved with a three-story residential building which would remain on site with no changes proposed. The applicant is seeking an increase from the base 5.0 FAR to a 6.0 FAR by utilizing the Neighborhood Opportunity Bonus. The Applicant is proposing to rezone the property from the current DX-5 (Downtown Mixed-Use District) to a Residential Planned Development. (42nd Ward)

[maru2501]

hmmm to 660

[Jibba]

Originally Posted by BVictor1

A proposed residential planned development submitted by LG Development Group, LLC, for the property generally located at 57-61 W. Erie Street. The proposed planned development would be comprised of two sub-areas. Sub-Area A would be the site of a proposed 12-story, 10 unit building which includes lobby space and parking for 10 vehicles on the ground floor. Sub-Area B is currently improved with a three-story residential building which would remain on site with no changes proposed. The applicant is seeking an increase from the base 5.0 FAR to a 6.0 FAR by utilizing the Neighborhood Opportunity Bonus. The Applicant is proposing to rezone the property from the current DX-5 (Downtown Mixed-Use District) to a Residential Planned Development. (42nd Ward)

I keep seeing this process wherein property owners are seeking additional FAR via the Opportunity bonus but still proceeding with a full-on PD anyway. Is this a requirement? Or could one simply by the bonus FAR and call it a day?

[PKDickman]

Originally Posted by Jibba

I keep seeing this process wherein property owners are seeking additional FAR via the Opportunity bonus but still proceeding with a full-on PD anyway. Is this a requirement? Or could one simply by the bonus FAR and call it a day?

This is a more complicated project. If you remember it previously, it was a very sexy looking 10 story as an as of right project. LG got a hold of it and acquired the unused development rights of a historic building next door which would have allowed then to go to 12 stories.
They could have gone two ways. One was to put a connection between the buildings so that it was technically one principal building on one zoning lot. (just that one side was taller) Or they could go as a PD in which each building was a separate subarea, FAR could be transferred between the two and no interconnection was required.

They have chosen the latter and decided to buy some FAR as well.

[k1052]

Originally Posted by PKDickman

This is a more complicated project. If you remember it previously, it was a very sexy looking 10 story as an as of right project. LG got a hold of it and acquired the unused development rights of a historic building next door which would have allowed then to go to 12 stories.
They could have gone two ways. One was to put a connection between the buildings so that it was technically one principal building on one zoning lot. (just that one side was taller) Or they could go as a PD in which each building was a separate subarea, FAR could be transferred between the two and no interconnection was required.

They have chosen the latter and decided to buy some FAR as well.

I thought the Neighborhood Opportunity Bonus ordinance required a PD for any purchased (paid for by either cash into the fund or negotiated local improvements) FAR but my memory could be hazy.

Interesting that more of these are coming from the 42nd ward since you know who voted against it.

[PKDickman]

Originally Posted by k1052

I thought the Neighborhood Opportunity Bonus ordinance required a PD for any purchased (paid for by either cash into the fund or negotiated local improvements) FAR but my memory could be hazy.

Interesting that more of these are coming from the 42nd ward since you know who voted against it.

I think they do have to go through a PD to get the bonus, it was just that in this case I think the idea of a PD occurred to them before they decided on bonus.

[Tom In Chicago]

Originally Posted by maru2501

hmmm to 660

The elevation drawings I've seen show 675'-0"

. . .

[SolarWind]

October 3, 2016