Waterview Tower- A Leading Economic Indicator?

If you’ve strolled (or floated) down the main stem of the Chicago River in the last 4 years, you’ve probably spotted the unfinished concrete skeleton at 111 W. Wacker Drive. The building, to be called the Waterview Tower, epitomized the 2008 recession. Construction started in 2006 with a grand vision for a 90-story luxury hotel with high-rise condominiums which would be sold using the fractional ownership model where they charge four people full price for a condo and tell them they only get a certain number of days per year to use their property (wonder why that brilliance didn’t pan out..)

The dream...

Unfortunately, after the recession hit and funds for the project dried up, work on the building halted after only getting concrete poured for about 20 floors.  Down came the crane, out went all of the equipment, and there it has sat going on four long years, blocking a lane of traffic on Clark and running the lights regularly (who’s footing that electric bill?) Negotiations for a new loan package on the building fell through in 2009, and eventually even partner Shangri-La Hotels pulled out of the deal, putting the prospects for the project further into limbo.

...and the sobering reality.

However, after changing hands last year (and seriously scaling down the plans for the building), it appears as though things are about to kick off again.  With us sitting at multi-year highs in the stock market and optimism starting to rear its head again – the way that the building echoed the 2008 recession (impractical optimism that came to a screeching halt when reality reared its ugly head), we can’t help but wonder whether the resumption of work on this monument to the credit crisis might be a sign that we’re nearing the top of this post-recession rally. Will Waterview Tower be the bubble-o-meter again?

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Disclaimer
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.

Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.

Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.

Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.

Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.

RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.

See the full terms of use and risk disclaimer here.

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