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Old 04-03-2019, 04:04 PM
 
504 posts, read 495,478 times
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I'm really excited for this new development announced today in the IlMeDi - https://chicago.curbed.com/2019/4/3/...use-innovation
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Old 04-04-2019, 02:24 PM
 
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Originally Posted by OKParker View Post
I'm really excited for this new development announced today in the IlMeDi - https://chicago.curbed.com/2019/4/3/...use-innovation
I wish I could get excited but the way development works in Chicago with all the numerous and prolonged construction phases plus scale backs and height reductions keeps my hopes grounded. If any of these mega projects had an ambitious timeline I would be excited. Riverline and Wolf Point are prime examples of why I don't put much stock in "megaprojects"...

Wolf Point is 6 years in and the east tower is only halfway up. The south tower probably won't begin for a couple years while the east and south towers received significant height cuts from the anticipated figures. The project will take at least 10 years to complete only 3 buildings. The south tower has a major anchor tenant and they have the resources to build both simultaneously but this never happens. Riverline is years in and one 300'er has been completed with another groundbreaking nowhere in sight as they work on the riverwalk. I wish there was more confidence in the Chicago market for large scale projects instead of inching everything in. While NY has completely different dynamics Hudson Yards was amazing to see being built simultaneously creating a rapid transformation to the skyline. Lincoln Yards, The 78, River District, Michael Reese, One Central, IMD etc. etc. will all be multi-decade projects where they build from smallest to tallest. Not to mention not one of these projects will produce a single supertall. Lincoln Yards has already been watered down so badly it hardly resembles the original proposal. Building heights dropped from 850' to 600' along with a stadium and entertainment venues being scrapped before a shovel hit the dirt. By the time construction starts there could be a 400' height restriction. Dearborn Park people are going to fight The 78 tooth and nail the whole way as well. Having a "neighborhood" mayor isn't going to help development of the core either.

Last edited by IronWright; 04-04-2019 at 02:42 PM..
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Old 04-11-2019, 10:52 AM
 
1,067 posts, read 914,457 times
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Nema just finished and renters will be moving in soon. The amenities here are INSANE....def an amenity war in Chicago for rental buildings. But this is prob the coolest rental building I've seen in Chicago so far.

https://www.rentnemachicago.com/
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Old 04-11-2019, 05:50 PM
 
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Originally Posted by dtcbnd03 View Post
Nema just finished and renters will be moving in soon. The amenities here are INSANE....def an amenity war in Chicago for rental buildings. But this is prob the coolest rental building I've seen in Chicago so far.

https://www.rentnemachicago.com/
Wasnt there suppose to be a twin tower next to it?
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Old 04-11-2019, 06:02 PM
 
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Originally Posted by prhill View Post
Wasnt there suppose to be a twin tower next to it?
No real plans, that was just a concept of the possibility when they announced it. Anything concrete is years away. I hope they break 1,000' with an original design that offers contrast to NEMA instead of a twin.
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Old 04-12-2019, 09:01 PM
 
504 posts, read 495,478 times
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Quote:
Originally Posted by dtcbnd03 View Post
Nema just finished and renters will be moving in soon. The amenities here are INSANE....def an amenity war in Chicago for rental buildings. But this is prob the coolest rental building I've seen in Chicago so far.

https://www.rentnemachicago.com/
less pricey than wloop too!
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Old 04-15-2019, 08:35 AM
 
629 posts, read 542,683 times
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Originally Posted by OKParker View Post
less pricey than wloop too!
"only" $3400 a month for a 1000 sqft 2br/2ba on a low floor (6)....

ouch!

6 grand for a 1300 sqft 2/2 on a high floor (58)
wow!
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Old 04-15-2019, 11:03 AM
 
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Sales begin on 47 and 40 story condo towers in Lakeshore East at site K/L & J. Both are planned to break ground this summer which is surprising.




https://www.chicagobusiness.com/resi...ng-harbor-view
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Old 04-15-2019, 11:42 AM
 
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Originally Posted by IronWright View Post
Sales begin on 47 and 40 story condo towers in Lakeshore East at site K/L & J. Both are planned to break ground this summer which is surprising.
Wondering why is that surprising? Curious when you expect this building boom to peak (whether rentals or condos).
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Old 04-15-2019, 02:14 PM
 
551 posts, read 407,170 times
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Originally Posted by dtcbnd03 View Post
Wondering why is that surprising? Curious when you expect this building boom to peak (whether rentals or condos).
I find it surprising that they are breaking ground on two towers simultaneously as Vista is about to bring units to the market. I assumed there'd be a period of absorption before beginning on the other tower ala Wolf Point model.

As for the boom peaking I thought we would have seen a major slow down by now, I don't know how the demand can be remaining this high but absorption rates are near equilibrium with deliveries over the past couple years. 1000M seems to be the only high profile project that is struggling to break ground for whatever reason. Maybe we have reached an NY style state of perpetual boom in response to how the demographics are changing with higher and higher incomes and education moving to the core.
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