Chicago to have a new supertall by 2018 (how much, house)

[pete6032]

Originally Posted by marothisu

I was actually thinking about this just a little bit ago. The guy behind this company is apparently the richest man in mainland China and one of the top 100 or 125 richest guys in the world. I wonder if him picking to have his first major US project in Chicago instead of NYC or LA (which he'll be branching out to next) will have any indirect results on the city anywhere.

Wasn't it a couple of months ago that the president of China came to the US, and he went to only two cities - Washington DC and Chicago.

[marothisu]

Mod cut: Orphaned (quoted post has been deleted).

This will happen barring the city trying to block it - the financing appears as if it is already in place. Wanda Group does $30 Billion in revenue per year with $2 Billion in profit, and is also led by the richest man in mainland China. They have $63 Billion in assets, paid $2.6 billion to buy AMC Theatres recently, and also are paying $1.1 Billion to build something big in London. They also purchased Sunseeker International recently for $500 million. They're paying 90% of this and Magellan is paying 10%.

They already own and operate 55 5-star hotels along with 88 plazas (residential/commercial). This is not like the Spire - it appears that they already have funding (their own funds + about $90M from Magellan) and are expected to start construction this year. Comparing Shelbourne to Dalian Wanda Group, who actually profits a few billion dollarsper year, led by one of the richest men in the world is a joke.

This video is a few years old (2012) .. they make more money now and operate even more stuff than said in this video

[CCrest182]

Mod cut: Orphaned (quoted post has been deleted).

The problem is that Chicago doesn't have super-high real estate prices, so there aren't fundamentals for residential supertalls. The only way you build them is if you're willing to lose money. Supertalls require extremely high sales prices for profitability, and outside of NYC and SF, there aren't too many places in the U.S. where they would conceivably make sense.[/quote]

Maro is right. There's a Chinese investor who has already established $900M in the project, which, unlike the Spire (when it started construction), is pretty much guaranteed. Even the Spire nowadays, is starting to pick up ground. International investors are everything. Once they step up to the plate, it's pretty much a done deal then.

Also, you never know what will happen. Frankly, this building stands out among the rest. It's a supertall, but not only that, it has a unique design that grabs attention. I'm very sure people from all around the world would find this a nice building to rent/buy in. Also, wasn't it said that this would be a hotel, instead of a residential tower?

[eating while walking]

When it comes to architecture I definitely prefer the old school. Why don't they just make a supertall with the classic looks of the Carbon and Carbide or tribune buildings? This one just looks like a bunch of Chinese food boxes stacked on top of each other.

[marothisu]

Originally Posted by eating while walking

When it comes to architecture I definitely prefer the old school. Why don't they just make a supertall with the classic looks of the Carbon and Carbide or tribune buildings? This one just looks like a bunch of Chinese food boxes stacked on top of each other.

If everything art related looked the same every time, there would not be advancement in design. You have to push the boundaries to create new forms. 700 years ago, the Carbon and Carbide building to some would have looked "out there" too perhaps.

[thefallensrvnge]

Originally Posted by eating while walking

When it comes to architecture I definitely prefer the old school. Why don't they just make a supertall with the classic looks of the Carbon and Carbide or tribune buildings? This one just looks like a bunch of Chinese food boxes stacked on top of each other.

I love the old stone Art Deco 'scrapers as well. However, I would imagine the detail and stone work is deemed to be too expensive anymore. Luckily, Chicago has a wealth of the pre-Depression skyscrapers, easily second outside NYC.

[CCrest182]

Originally Posted by eating while walking

When it comes to architecture I definitely prefer the old school. Why don't they just make a supertall with the classic looks of the Carbon and Carbide or tribune buildings? This one just looks like a bunch of Chinese food boxes stacked on top of each other.

I do too, but I don't see what's wrong with having a mix of both. Modernizing the skyline is essential if this city wants to gain some money, make some jobs, and get people working. It would also keep it a world class city and keep it more talked about. The more we try to play it safe with the same ol' same ol buildings and same designs and don't change anything, this city will age, it will lose value, and nobody will care about Chicago. Now more than ever is a time Chicago needs something that will gain attention, something that will make headlines and not for the violence. I personally think it's an out of the ordinary building, but that's good. We need more things like that. I'm sure the Sears tower was thought of as being "odd" and "out of shape" when it was being built as well, but is it now? The old buildings aren't getting taken down, it's just in empty areas, why build more of the same thing rather than build something newer and more innovative that would move the skyline more into the future?

[mike230]

The Trump (and its sign) looks beautiful compared to that

[glass_of_merlot]

Originally Posted by CCrest182

Cool, but I wish it was taller. Chicago needs an update for it's "world's tallest buildings" position. As time progresses on, Chicago continues to lose this title...

However I do think out of all supertalls, the Old Post Office project plans look the best.

I think so too. Why don't they go for a taller building.

Otherwise, I think it's cool. Keep em coming.

[marothisu]

This will be the 3rd tallest building in Chicago....it's pretty tall