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Chicago Spire, Waterview Tower, etc

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Old
07-27-2009, 12:24 PM
  #1
Blackhawkswincup
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Chicago Spire, Waterview Tower, etc

Chicago Spire

Now



Possibly someday


Waterview Tower

Now



Possibly someday



Waldorf-Astoria Hotel and Residence Tower

Construction has yet to begin. If ever built would look like this.


Anyone know the latest on these projects. Haven't been downtown in a few yrs.

I really think it depends on Olympics. If Chicago gets Olympics someone is going to invest money to get these buildings done before the 2016 (At least the Spire and Waterview).

I think Waterview Tower will get finished someday but I dont see the Spire getting done unless someone like Trump buys the property and design and I dont know if the economy will recover to see the Waldorf but I do believe they have secured approval from city to build.

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07-27-2009, 02:57 PM
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hopefully they build those...Chicago has the best Skyline in the world...those would only make it even better

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07-31-2009, 07:40 PM
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I still think that the Spire is fugly.

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08-01-2009, 03:02 AM
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Teemu
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The Spire is dead, they already ran out of money.

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08-01-2009, 10:05 AM
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massivegoonery
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I still think that the Spire is fugly.
The original design was nice and smooth. The later ones were quite fugly.

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08-02-2009, 03:31 PM
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The Spire is dead, they already ran out of money.
Yeah I did hear that, They were negoitating with a union to try to find a way to keep that alive. It didn't go anywhere.

What does everyone think will happen with the hole?

Anyone know the latest on the other 2? I just cant Imagine Waterview wont get finished considering how far they got on it. Someone should be able to buy the property and designs at a good discount rate and get it done and make a nice little profit.

Maybe Trump would have interest in acquiring Waterview Tower

The Waldorf is the design I actually like the best, hope that they somehow get that building done in the future.

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08-02-2009, 03:33 PM
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I would agree I have never liked the Spire idea.

My biggest problem with it was its location. If they improved the design and built it more in the city were it wouldn't stick out like a sore thumb it would work better.

Aqua turned out nicely and I thought it was not gonna look well. I also was against the Trump Tower when it was announced. It actually turned out to be a great addition to our skyline

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03-22-2010, 12:46 PM
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So I haven't heard anything on these projects since the Union deal fell apart back in late 2009 to get the Spire restarted and Chicago was pretty much b#### slapped in our bid for the Olympics

Anyone else know anything up with the other 2?

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03-23-2010, 09:47 PM
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Waterview Tower has been canned as well apparently.

Not sure about the other one.

http://www.skyscrapercity.com/showthread.php?t=303473

In that thread people post pictures of the construction site and everything. The Waterview Construction site is clean, and of course the Spire construction site is just a big hole in the ground.

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03-23-2010, 10:22 PM
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Originally Posted by Biolink View Post
Waterview Tower has been canned as well apparently.

Not sure about the other one.

http://www.skyscrapercity.com/showthread.php?t=303473

In that thread people post pictures of the construction site and everything. The Waterview Construction site is clean, and of course the Spire construction site is just a big hole in the ground.
Thank you very much

Figured given how far of progress they had made on Waterview construction that someone like Trump would buy the property low and finish it (Could still happen)

I hated the Spire but the other 2 designs I liked

Hopefully the economy can get back on track in coming years so we can get some things finished (Waterview) or started in the other tower's cases

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03-23-2010, 10:45 PM
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They should turn the Spire hole into a big wishing well. They can empty it every so often to pay for the CTA.

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03-24-2010, 09:37 AM
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Trump Tower has lost The Donald a lot of money so far. I don't know if he'd be willing to take on another project in Chicago, especially one that's been such a huge failure like Waterview.

In commercial RE, there comes a point when a site sits so long unfinished that it gains a stigma (ie: Block 37). Unless the price comes down to a very low point, a lot of developers will avoid properties like that.

But really, the main problem with Waterview is that it has the perfect makings (location, view lines, on-site parking below) to be a hotel...but the hotel market in Chicago is absolutely horrible.

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03-24-2010, 09:49 PM
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Trump Tower has lost The Donald a lot of money so far. I don't know if he'd be willing to take on another project in Chicago, especially one that's been such a huge failure like Waterview.

In commercial RE, there comes a point when a site sits so long unfinished that it gains a stigma (ie: Block 37). Unless the price comes down to a very low point, a lot of developers will avoid properties like that.

But really, the main problem with Waterview is that it has the perfect makings (location, view lines, on-site parking below) to be a hotel...but the hotel market in Chicago is absolutely horrible.
I can see all those points , I just think Waterview because of the points you make could be a hell of a steal for someone if they can buy it for low. Although I would aim it more towards luxury condo's as the hotel market as you said is horrible. (All form's of housing right now are down)

The economy will rebound someday so it would be the strategy of a short term loss for a longterm gain.

Maybe not trump but maybe if someone else with more money and less risky ventures could look to break into the Chicago propery market.

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03-25-2010, 10:01 AM
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Steve Larmer
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Right now, I believe the lender on the Waterview project has taken possession. It's up to them to decide whether they want to sit on it and wait to find a reasonable price in a year+ or to just dump it for pretty cheap.

The problem is not finding an interested party. The problem is that interested party finding a way to get financing for a hotel project in what is arguably the worst hotel market ever (both location-wise and historically). The profitability of hotels in Chicago right now is non-existent. Everyone is just trying to tread water until things hopefully recover.

As far as finding another use, the Chicago office market is not much better than hotels.

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03-25-2010, 03:17 PM
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My office is next door to Waterview at Clark & Wacker. Thankfully my view is south, but I just want them to do something with that rotting concrete carcass. Tear it down already.

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03-25-2010, 03:17 PM
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Quote:
Originally Posted by Steve Larmer View Post
Right now, I believe the lender on the Waterview project has taken possession. It's up to them to decide whether they want to sit on it and wait to find a reasonable price in a year+ or to just dump it for pretty cheap.

The problem is not finding an interested party. The problem is that interested party finding a way to get financing for a hotel project in what is arguably the worst hotel market ever (both location-wise and historically). The profitability of hotels in Chicago right now is non-existent. Everyone is just trying to tread water until things hopefully recover.

As far as finding another use, the Chicago office market is not much better than hotels.
That all makes sense

Probably just the fact I think the design fits well with Chicago downtown and the fact so much work has gone into it I would like to see it get done.

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03-25-2010, 04:32 PM
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Steve Larmer
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I would too. It's such a freakin eyesore and such a good location.

Hotel 71 just east down Wacker has been in limbo for a long time now, too.

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