See there, off in the distance? They’re assembling the tower crane at 465 North Park.
Another day, another tower crane goes up. This one is for 465 North Park. The 47-story apartment tower from Jupiter Realty and Pappageorge Haymes Partners got its tower crane permit on September 6, then planted the stub during groundbreaking ceremonies on Sept. 20. Tuesday, the street crane went to work, assembling the crane high above Streeterville.
The photo that gave up the secret of the new tower crane stub.
Yesterday, I showed you the photos 465 North Park sent over of the groundbreaking ceremonies held Tuesday afternoon. That little seedling of a tower crane hiding in the background was enough to prompt me to get over there and capture the little guy myself. So I did. And here are a few shots to prove it.
Courtesy of 465 North Park – Left to right: Matthew Sharples, MetLife
Jerry Ong, Jupiter Realty
Judith Fryland, City of Chicago
Alderman Brendan Reilly
Don Smith, Jupiter Realty
Michael Pompizzi, Jupiter Realty
Mike Moran, Allstate
Mimi Simon, City of Chicago
Deborah Gershbein, SOAR
On Tuesday of this week, Jupiter Realty Company held groundbreaking ceremonies for 465 North Park, the 48-story, 444-unit apartment tower by Pappageorge Haymes Partners. And hey, you remember that nest Power Construction was building for the future tower crane? Well, guess who photobombed the big ceremony? You got it! A shiny new stub of a tower crane can be seen hovering over everyone’s shoulders, looking for its moment in the spotlight. Which will come very, very soon, I’m sure.
You can read the 465 North Park press release that follows the photos below.
Alderman Brendan Reilly speaks at the groundbreaking ceremony. Photo courtesy of 465 North Park.
Who’s that photobombing Mr. Reilly and Mr. Smith? A Tower Crane!
465 NORTH PARK LUXURY APARTMENT GROUNDBREAKING
MetLife and Allstate partner on new Streeterville development
CHICAGO – September 20, 2016 – Jupiter Realty Company today held a groundbreaking ceremony for a 444-unit luxury rental high-rise project at 465 North Park Drive, in Chicago’s Streeterville neighborhood. The ceremony was attended by representatives from the project team, investors from MetLife and Allstate, and the City of Chicago, including 42nd Ward Alderman Brendan Reilly. Donald A. Smith, Chairman of Jupiter Realty Company, moderated the ceremony.
Smith noted, “Jupiter is delighted to have been selected by MetLife and Allstate to develop what we believe will be a noteworthy addition to the Streeterville landscape. Its strategic location at the intersection of East Illinois Street and North Park Drive will afford it significant neighborhood prominence. Visible from both Michigan Avenue and Navy Pier, the 48-story, 444-unit rental building will contain nearly 600,000 square feet of luxury residences with market-leading amenities.”
Alderman Reilly noted, “465 North Park is creating more than 450 construction jobs and will add 75 permanent leasing, management, operations and retail positions when it opens in the spring of 2018. Ownership and Jupiter worked collaboratively with the community and my office to design a project that will greatly enhance the neighborhood while minimizing the impact on existing Streeterville buildings and residents. Importantly, Jupiter has also agreed to contribute to the redevelopment of Ogden Plaza Park, a 70,000-square-foot, 25-year-old public park, to the west of the development.”
Matthew Sharples, Managing Director and Head of the Chicago Regional Office for MetLife Real Estate, said, “MetLife is excited to make this investment possible. Having owned the 465 North Park site for many years, we are thrilled to be starting construction on this best-in-class residential community. We are excited to have Allstate as our partner, and to be working with a talented development team including Jupiter Realty Company, Pappageorge Haymes Partners and Power Construction.”
“As long-time real estate investors, we at Allstate are seeking high-quality income-producing properties like 465 North Park to achieve attractive returns and further diversify our investment portfolio,” said Michael Moran, Managing Director, Real Estate for Allstate. “As a bonus, our investment in this property and the surrounding neighborhood also benefits our hometown of Chicago.”
The 444 upscale units will include studios, convertibles, one-, two- and three-bedroom units, plus nine two-story townhomes on the fourth and fifth floors. All kitchens will feature high-end appliances and cabinetry, and all units will feature walk-in closets and full-size washers and dryers. The top two penthouse floors will feature top-of-the-line kitchens. The lower level will boast a large bike room including a repair station, a pet spa, resident storage, dry-cleaning service and 24-hour-access package pick-up. A 181-space resident-only parking garage will be located in the lowest levels of the building, accessible from a private internal drive. It is anticipated that the property will be Leadership in Energy and Environmental Design (LEED) Silver certified.
Additional project amenities will include 12,000 square feet on the sixth floor dedicated to fitness (including aerobic, weight, yoga, spinning and fitness-on-demand rooms), spa/pool, conference, business, game and party areas, demonstration kitchen and lounge, and conversation/gathering spaces. Outside on the sixth floor, a 22,000-square-foot exterior deck will include a dog run, an outdoor pool with sunning and seating areas, cabanas, multiple green-spaces, fire pits, private kitchenettes, and TV-viewing areas. Another amenity level on the 38th floor will feature a kitchen, private dining and lounge areas, along with an outdoor skydeck with multiple lounge seating areas, fire pits and breathtaking views of Lake Michigan and the city. The building will also provide 12,000 square feet of prime retail space on the first floor.
The redevelopment of Ogden Plaza Park is expected to be complete by 2018. The scope of the redevelopment will include new trees, plantings, seating and lighting, as well as a dog-friendly area and modifications for better overall park access.
Chicago-based Jupiter Realty Company is a privately held, vertically integrated development, investment and management firm since 1985 with its origins in real estate since 1960. Jupiter develops, acquires, finances, renovates, repositions, and sells hotels, mid-rise or high-rise, apartments, residential communities, office parks, office buildings, regional or neighborhood shopping centers, free-standing retail stores, industrial buildings, mixed-use properties and land in response to the ebb and flow of market cycles. Jupiter works closely with corporate clients, major tenants, institutions, pension funds, banks, REITs, lenders and other financial partners. Jupiter and its affiliates operate nationally with a special focus on the Midwest.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About Allstate
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households from life’s uncertainties. Allstate’s real estate investments group has decades of experience and looks for core and value-add opportunities across geographies in the United States and internationally, and in a range of investment vehicles, such as funds, co-investments and joint ventures. Allstate’s real estate investments include retail, multi-family, office and industrial properties.
Contact: Beth at Treacy Marketing Group, 312-343-8900, btreacy@treacymarketing.com
Crews set rebar for the tower crane foundation at 465 North Park.
465 North Park, the Pappageorge Haymes Partners-designed, Jupiter Realty Company-developed 48-story, 444-unit apartment tower in Streeterville, received a tower crane permit from the City of Chicago on Tuesday of last week. On Tuesday of this week, Power Construction crews could be seen setting the foundation that will hold the crane in place.
I’m still struck by how barren a lot looks just after caisson work concludes. This is 465 North Park, once again a blank canvas.
“Life moves pretty fast” Ferris Bueller once said. “If you don’t stop and look around once in a while, you could miss it.” For instance, wait three weeks to go check on caisson progress at 465 North Park, and find out you’re too late. Yep. Life moves pretty fast.
Power Construction has begun digging a foundation, now that the heavy drilling is out of the way. They’re working on Jupiter Realty Company’s 47-story, 444-unit apartment tower at 465 North Park Drive in Streeterville. The Pappageorge Haymes design will include 11,650 square feet of retail/commercial space, and 181 parking spaces.
On the horizon, Case Foundation drills caissons at 465 North Park.
They got their permit July 6th. And time is of the essence. That’s why dirt is flying every which way at 465 North Park.
Case Foundation moved equipment from 625 West Adams over to this lot two weeks ago, reassembled it all, and got to work. They’re drilling caissons for Jupiter Realty Company’s 47-story, 444-unit apartment tower at 465 North Park Drive in Streeterville. Once caissons are done, Power Construction will get to work turning the Pappageorge Haymes Partners design into reality.
Case Foundation made quick work of the caissons for the new office tower at 625 West Adams Street in the West Loop. So what does one do with all that equipment? Well, this is Chicago, and all those tools and toys are in high demand.
Which is why most of it poured into the construction site at 465 North Park Drive in Streeterville. That’s where Power Construction (625’s general contractor as well) has begun foundation work on the 47-story, 444-apartment tower designed by Pappageorge Haymes Partners. There, it will all be reassembled so holes can be dug and caissons can be sunk and a tower can be built.
A straight-up rendering of 465 North Park from Pappageorge Haymes Partners.
It’s Showtime for 465 North Park.
That dirt being shoved around last month wasn’t just for fun. Yesterday, the City of Chicago filed a foundation permit for the new apartment tower at 465 North Park Drive in Streeterville. That’s right next door to the new Loews Hotel, and just across Illinois Street from the AMC River East.
Another design from Pappageorge Haymes Partners, 465 North Park will stand 47 stories tall and weigh…actually, I don’t have stats on weight. But expect 444 apartments, with 181 parking spaces. The permit says parking will be on levels one through four, an amentiy deck on the 6th floor, apartments for regular folks on 7-35, penthouse units on 38-46, and a mechanical floor at the 47th level.
Jupiter Realty Company is the developer. Power Construction has the general contractor reins. Expect to see caisson equipment start pouring into the lot any minute now.
Power Construction and Pappageorge Haymes Partners. How’s that for a Power Couple?
Reinforcements are on the way.
The Foundation Permit for 465 North Park.
No, it’s not much. But it’s something. And I’d rather watch something being done than nothing.
Something’s afoot at the foot of the new Loews Hotel in Streeterville. And surprise surprise, it looks like construction.
How’s this for a blast from the past? A 2008 permit for a 50-story tower.
Back in October, the Chicago Plan Commission approved a 47-story, 444-unit apartment tower for the site at 465 North Park Drive. Designed by Pappageorge Haymes Partners (they’re everywhere!). 465 North Park will include 181 parking spaces within its 4-level podium. and, if what I heard at a community meeting last year still holds true, will also include upgrading Ogden Plaza, the small but rundown park at the corner of Columbus Drive and Illinois Street.
Building Up Chicago 