Latest crane marks a 400% increase compared to 2010
Mayor Rahm Emanuel and the Department of Buildings today announced the 60th tower crane to operate in Chicago in 2017. This, of course, indicates what could only be called “a boom in building.”
The amazing 400% increase since 2010, breaks records for the most tower cranes to operate in one year since the height of the great recession, speaking well to investment and confidence in our city.
OR as Mayor Emanuel notes, “It is not only a historic high. It is a sign of Chicago’s economic vitality, vibrancy and versatility.”
The newest tower crane is on-site at 403 N. Wabash, part of the major construction along Chicago’s riverfront. Crane #60 will be utilized to help build an 18-story condominium building, Renelle on the River.
The condo building, a collection of 50 three-and four-bedroom luxury condominiums, is sure to give nearby Trump Tower a run for the money with floor plans ranging from 2,249 to 3,434 square feet and prices starting at $1.3 million to over $3 million.
Already, over half of the units are under contract.
For their money, buyers get a private rooftop lounge, indoor and outdoor kitchens, an outdoor terrace with fireplace, private screening and game rooms, a 24-hour doorman, a state-of-the-art fitness center with private yoga room, bicycle storage, individual storage lockers and an outdoor dog run–not to mention some of the best views of the city and the river.
Cranes typically operate on construction sites for over a year and can operate for as long as two years, depending on the size of the development. Of the 60 tower cranes operating in 2017, 33 are still on construction sites in Chicago.
In addition to tower crane records, Chicago reports over 1,000 more building permits issued to date in 2017 as compared to same time period in 2016. This is the highest number of building permits issued in five years.
So while the birds (cranes) may be heading south for the winter, Chicago, it seems, will have no shortage of cranes no matter what the weather.
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Filed under: Chicago News