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Two Chicago Towers Fall Victim to Scarce Financin

Started by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
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CHICAGO — Back in 2006, at the height of the real estate boom, two projects here stood out as harbingers of a bright future for residential development. [...] Both projects got off to fast starts in terms of sales and construction, but both have now ground to a halt amid the many mechanics’ liens filed by subcontractors as the developers struggle to find additional financing. http://www.nytimes.com/2009/02/04/business/04chicago.html?ref=business More proof that Chicago is falling into the lake.
Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

What is "Chicago"?

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Response by Sizzlack
over 17 years ago
Posts: 782
Member since: Apr 2008

Rufus throws a tantrum in 5...4...3...2...

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

He should have asked me for a recommendation to Columbia. I can pull strings. :)

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Response by quantum
over 17 years ago
Posts: 102
Member since: Dec 2008

Times are tough for all cities, although NYC is being hit harder because of its failure to diversify beyond finance.

Chicago still has more luxury highrise condos and rentals than NYC, so I'm not too worried about this. Also, NYC projects like 30 park place, 50 west street, and the nobu tower, have all been cancelled. And the WTC towers are at a standstill.

NYC's reversion back to the 1970's has begun.

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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

And don't forget Chicago is at the heart of industries like Madison Avenue and Seventh Avenue, and the HQ of all the major broadcasting and cable networks, etc. etc. etc.

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Response by Sizzlack
over 17 years ago
Posts: 782
Member since: Apr 2008

quantum
7 minutes ago
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Chicago still has more luxury highrise condos and rentals than NYC, so I'm not too worried about this.

What does this prove? Nothing. It is a worthless statement. No one besides you judges a city based on how many high rise condos it has. How do you not see how pathetically ridiculous this statement is? If that actually meant anything Dubai would be the center of the universe...but it isn't because it's fu**ing Dubai. Your Narcissistic Personality Disorder is really showing its colors today.

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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

Inspired by Iraq's lower murder rate, Chicago tries military tactics (in desperation): http://www.suntimes.com/news/24-7/1412155,CST-NWS-strike04good.article

When they perfect those methods in west side, maybe they can address the through-the-roof crime rates of Gold Coast, Lincoln Park, Streeterville, etc.

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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008

Quantum is yet another alias for Rufus, who was rejected by his dream school and dream city, Columbia and New York City.

He loved the city until sour grapes set in...

This is all well documented...
http://www.streeteasy.com/nyc/talk/discussion/8131-rufus-mystery-solved

He is so jealous he spends all day trying to post negatively about NYC.

Man, this guy is so pathetic...

"got rejected at columbia business and am pretty devastated."

"Oh well. I have to spend an extra year in shitty Chicago and reapply for round 1 next year."

"I've been to NYC several times but haven't really partied extensively. But almost everyone I've talked to who lives there tells me how NYC is so much fun and doesn't really get boring, people are interesting, etc. To what extent is this true? What makes NYC so much more fun than other cities like LA, SF, Boston, Chicago, etc.?"

"I live in Chicago but have been to NYC quite a few times and noticed a very sharp difference in the respective social scenes. Chicago seems much more fratty and bar oriented while NYC is a bit more upscale and pretentious. The girls in NYC also dress a lot better as well. I would like to hear opinions on this subject from those of you familiar with both cities."

"Thanks for the encouragement. I'm just really bummed out since I'm 27 years old, and now is the perfect time to go. And socially, I'm extremely dissatisfied with Chicago and really want to be in NYC. I just have to improve my application for next year and hope things turn out better"

Now that he's been rejected multiple times, he's changed his story a bit.

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Response by metalhead
over 17 years ago
Posts: 69
Member since: Feb 2009

Does Chicago really have more luxury highrise buildings than NYC? I find that hard to believe unless rufus posts actual data to support that. I do think Chicago's modern condos and rental buildings are better than ours, but in terms of pure quantity, I'm pretty sure NYC has more.

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Response by manhattanfox
over 17 years ago
Posts: 1275
Member since: Sep 2007

Have you noticed that RUFUS spelled backwards phonates as [SUFER]sic. Ha!

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Response by manhattanfox
over 17 years ago
Posts: 1275
Member since: Sep 2007

SUFUR -- oops!

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

Chicago doesn't even have Marshall Field's anymore. Just a Macy's. Our Macy's is better than theirs.

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Response by anotherguy
over 17 years ago
Posts: 168
Member since: Oct 2007

Deposits held in escrow until 4th quarter of 2013! Yow!

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

Did you know that Chicago is called "The Windy City" not because of the wind, but because they are blowhards?

True fact.

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Response by kylewest
over 17 years ago
Posts: 4455
Member since: Aug 2007

Know what wouldn't make NY better? More condos in glass towers.

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Response by w67thstreet
over 17 years ago
Posts: 9003
Member since: Dec 2008

aren't they the people who pumped raw sewage into their own lake until 2007? :) No EFFECT on their lifespans :)

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

Actually - another little know fact - before Mrs. O'Leary's cow, Chicago was sinking & they had to build sidewalks out of planks because it sits on a swamp. They poisoned Lake Michigan with the blood of slaughtered animals, and they turned the Chicago River around and made it flow backwards to connect it to the Mississippi.

They built their finest neighborhood - Lincoln Park - on a cemetery.

And our Macy's is still better than theirs.

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Response by Sizzlack
over 17 years ago
Posts: 782
Member since: Apr 2008

I bet Rufus started this fire in hopes of burning the place to the ground so they could build a highrise condo in its place...

http://news.yahoo.com/nphotos/Fire-breaks-out-landmark-Chicago-cathedral/ss/events/us/020409cathedralfire

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Response by w67thstreet
over 17 years ago
Posts: 9003
Member since: Dec 2008

Stevie... you have much knowledge :)

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