CHICAGO | St. Regis Chicago (Vista) | 1,191 FT | 101 FLOORS - Page 368

Rooted Arborial · #**7341** Posted **Aug 8, 2020, 4:09 AM**

What an amazing image! That is a massive amount of electricity.

I'm guessing that's a forest preserve in the foreground out in the direction of Schaumburg or Elgin, maybe?

chicubs111 · #**7342** Posted **Aug 8, 2020, 11:24 AM**

Quote:

Originally Posted by jjk113

...I live about four blocks north of Vista and it seems that work on the north facade has ground to a halt. I keep waiting for the final corner to be glassed in and the skip removed.......nothing seems to have changed on the north facade in almost a month.

Ive been saying the same things for months!...has to be the slowest glass installation i have ever seen...its just been dragging to almost zero movement on the north corner for months.. I guess there in no rush

LouisVanDerWright · #**7343** Posted **Aug 8, 2020, 12:28 PM**

Quote:

Originally Posted by cozy

Looking for the restaurant I found this: https://www.enr.com/articles/48869-a-double-decker-road-tower-runs-through-vista-tower-chicagos-third-tallest-building awesome read

and this:

[URL="https://www.chicagotribune.com/columns/ryan-ori/ct-biz-vista-tower-sale-magellan-ryan-ori-20200730-xar3h25bpjabxblhhkftzaha4i-story.html[/URL], https://www.chicagotribune.com/colum...a4i-story.html

Magellan owns the whole thing now. I don't know how construction financing works, anybody know it's likely that Wanda took a loss on this?

As usual Magellan probably killed it on this deal by taking advantage of the stupidity of others. They timed everything similarly perfectly with Aqua when they finished selling all the condos (or most of them) right before the crash hit, then we're able to collect a huge fee for the hotel backing out in the recession, then a short time later secured an even better hotel deal as Chicago's tourism boom picked up steam, and then finally scored massively on the apartment component as the apartment boom ramped up.

The same thing is likely happening here. Odds are they took Wanda for a ride on this deal and are probably using bank money to buy them out now that the project is nearly done. Pretty sweet deal to borrow hundreds of millions of dollars from an investor who is then forced to sell to you right when the biggest bump in equity is achieved. Refinance, give them their money back, and enjoy your new supertall. Magellan isn't as flashy as Sterling Bay or Related, but they sure as hell are just as shrewd if not moreso.

the urban politician · #**7344** Posted **Aug 8, 2020, 1:12 PM**

Quote:

Originally Posted by chris08876

Credit: John Crouch

cozy · #**7345** Posted **Aug 8, 2020, 1:14 PM**

Very interesting.. thanks for that response!

Chicagolover88 · #**7346** Posted **Aug 8, 2020, 3:33 PM**

Quote:

Originally Posted by chris08876

Credit: John Crouch

This is amazing!!

pianowizard · #**7347** Posted **Aug 8, 2020, 3:39 PM**

That's an amazing skyline photo from a rarely seen angle! Too bad it doesn't include the NEMA cluster, but it's still impressive enough that I have just downloaded it. This view will get even better in 5 - 7 years, after One Chicago, Lakeshore East's Parcel I, and all those ~600 to ~900 footers are done. If we are really lucky, perhaps we will get the Tribune Tower Addition as well!

sentinel · #**7348** Posted **Aug 8, 2020, 4:52 PM**

Quote:

Originally Posted by chris08876

Credit: John Crouch

Incredible...the whole skyline also looks...brighter/whiter, which I wonder if that's an effect of changing out the old orange streetlights for the new, white LEDs, even within building interiors as everyone is switching to more energy efficient and long lasting LEDs..which has it's negative side too, considering that most people don't know anything about color temperature (I cringe whenever I walk past a residence at night, and the interior is flooded with white, 3700K-4000K bulbs

)

HomrQT · #**7349** Posted **Aug 8, 2020, 6:36 PM**

Quote:

Originally Posted by chris08876

Credit: John Crouch

WOW, thanks for sharing!!!

bhawk66 · #**7350** Posted **Aug 8, 2020, 8:02 PM**

Quote:

Originally Posted by LouisVanDerWright

As usual Magellan probably killed it on this deal by taking advantage of the stupidity of others. They timed everything similarly perfectly with Aqua when they finished selling all the condos (or most of them) right before the crash hit, then we're able to collect a huge fee for the hotel backing out in the recession, then a short time later secured an even better hotel deal as Chicago's tourism boom picked up steam, and then finally scored massively on the apartment component as the apartment boom ramped up.

The same thing is likely happening here. Odds are they took Wanda for a ride on this deal and are probably using bank money to buy them out now that the project is nearly done. Pretty sweet deal to borrow hundreds of millions of dollars from an investor who is then forced to sell to you right when the biggest bump in equity is achieved. Refinance, give them their money back, and enjoy your new supertall. Magellan isn't as flashy as Sterling Bay or Related, but they sure as hell are just as shrewd if not moreso.

That was pure dumb luck. Right place, right time. I wouldn't be too quick to call them savvy or shrewd business types. They got effing lucky. Good for them. I'm sure you've heard what the Chinese government has imposed on foreign real estate investing? Wanda's decision to back out was most likely not all free will. And Aqua's perfect economic timing had nothing to do with the braininess at the Megellan think tank. Good on them for taking advantage, however.

SIGSEGV · #**7351** Posted **Aug 9, 2020, 6:03 AM**

Quote:

Originally Posted by Rooted Arborial

What an amazing image! That is a massive amount of electricity.

I'm guessing that's a forest preserve in the foreground out in the direction of Schaumburg or Elgin, maybe?

I'm thinking that's the comms tower in Norridge to the right of the Hancock (with the blue light, there's another comms tower between it and the Hancock with a red light that is probably the one in Cragin). So my best guess is that this is from Busse Forest Preserve, but I can't positively identify the foregroundish building on the right.

Chicagolover88 · #**7352** Posted **Aug 9, 2020, 4:49 PM**

Quote:

Originally Posted by SIGSEGV

I'm thinking that's the comms tower in Norridge to the right of the Hancock (with the blue light, there's another comms tower between it and the Hancock with a red light that is probably the one in Cragin). So my best guess is that this is from Busse Forest Preserve, but I can't positively identify the foregroundish building on the right.

It gives me Wayne manor looking over Gotham city vibes