As companies embrace remote work and shrink their workspace, it’s harder for developers to ink the massive leases they usually need to finance skyline-altering office towers. While the public health crisis hasn't eliminated the office, Buck's pivot signals it may be fueling the demise of the traditional office skyscraper. "But it is clear that virtually all users are going to reduce their footprints." His new approach: build a pair of shorter, connected office buildings in phases, boosting his chances of finding tenants to kickstart one of them. Madison St., which would have been the tallest new office building in the city since 1990. "That was just a little too ambitious," he says of his design for a 1.5 million-square-foot high-rise at 655 W. After spending the first half of the COVID-19 pandemic unsuccessfully trying to get big companies to anchor a 60-story office tower in the West Loop, Buck finally scrapped the idea. That was the signal sent last month by veteran office developer John Buck, who redrew much of downtown with skyscrapers over the past 40 years. Now developers are sensing that era may be over. From early feats of design like the Monadnock Building to renowned structures such as Willis Tower, the former John Hancock Center and Aon Center, soaring office towers have defined the city's identity for generations as a muscular hub of midcontinent commerce and pioneering architecture. Chicago spent well over a century earning its reputation as a global skyscraper capital.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |