Secrets of the City

I hope they got a discount when they found out it wasn’t the tallest.

You must not be a property owner. The tax value isn’t the same thing as market value, and right now the market value of most properties is much higher.

Does commercial property have the Limited Market Value like homes do?

Besides Target, are there any buildings in downtown solely occupied by one company?

Thrivent Financial (next to gov’t center) building is all one company.

Granted, it’s (Thrivent Financial) only 16 floors.
But, technically, I guess it could qualify as an answer to your ?

The market must be in flux right now.

I believe that the Minnesota World Trade Center / Wells Fargo Place is for sale right now. Town Square’s Piper Jaffray Tower is for sale right now. Galtier Plaza was just sold.

Things are interesting, no doubt!

I believe that Ameriprise is the sole occupants of both of the buildings it occupies (although I seem to recall that the Operations Center, where back office stuff happens, has several totally unoccupied floors that they were considering leasing out).

Office towers (and retail space) have their taxable values tied to the rent that they are able to collect, so over the last 3-4 years, when there was a glut of office space, those values dropped. Now, rents are rising again, and so the value of the buildings is as well. There’s always a couple year lag time, though, before the buildings get reassessed.

Also, these building owners are great at challenging their assessed values, something that homeowners hardly ever do.

Also, there is a lot of money that’s been pulled out of the stock market by large investors, and they’re looking for someplace to put it. Real estate seems like a good idea, so now you have a lot of money chasing these properties, which of course drives the prices up.

Maybe he paid more because it has an “unfinished” attic — room to grow (add another 50 stories on it) the same reason people jack up the prices of older homes with “unfinished” 3rd story attics…in other metro areas people pay a premium for “air” space

They should bring back the observation deck on the IDS Centre. That would be a spectacular view. : ]

The IDS Center’s observation deck is still there in some form isn’t it? A couple months ago I went to a convention at IDS somewhere near the top, and I think that it was the old observation deck. It was pretty swell up there. I am surprised at how lax the security was. I’m from St Paul, so I’m more familiar with the towers around there, and I live in Galtier. I have to swipe my way through to get into the underground ramp, then swipe it again to get into the elevator lobby, and then finally I swipe it once more when I am in the elevator to go up. Other skyscrapers in the city that are non’residential have the swipers plus stern security guards looking at everyone going by. At IDS I just walked right onto the elevator. I was amazed.

I think they turned the observation deck into a restaurant or something. Whatever, it should be open. It’s a crime that Minnesotan’s can’t look out from the top of their tallest building.

Near the top of the IDS are some meeting/party rooms. When AXP was still in the building, the dept I worked in (Investment) had our “holiday” party up there. I should clarify – at least 5 years ago there were these spaces up there, but it sounds like they are still there, form Toring’s comment.

Appears to still be there.

“It’s a crime that Minnesotan’s can’t look out from the top of their tallest building. “

It’s not “theirs.” It has private owners.

So, not actually a crime?

Thanks for clearing that up.

I think there’s a tardeoff. We as a community allow buildings to build high enough to clutter up our skyline and airspace — which they certainly do not own — and they give us spectacular views of the city in exchange.

I just think back to how cool it was to be in the top of the Sears Tower.

Is the Sears Tower worth the long wait and cost?? I am going there soon and don’t know if I am willing to spend the time and money to see the view.

The Sears Tower view is pretty impressive. I think it’s worth doing once.

I’ve been to the Schwebel, Goetz & Sieben law offices at or near (?) the top of the IDS – pretty cool view (although not Sears Tower cool, of course).

Come to think of it, the restaurant occupying that space in the IDS Center is called “Windows On Minnesota”.

It was an amazingly nifty ear-popping experience.

They make you stand in line forever and watch some stupid video before they take you to the top but it is worth it and it only costs like $12 or something. Do it for sure. It’s astonishing how far you can see.

What you don’t need to do is the Sears Tower and the Hancock Building. One or the other is fine.

anyone can go up to Windows on MN @ the top of the IDS. Just go into the Marquette Hotel Lobby across the Crystal Court from the IDS entrance and look @ their posting of meetings for the day and find out what events are happening in Windows. Walk back over to the IDS elevators, and if you’re stopped by security (which rarely happens as long as you look non-threatening) just say you’re going to “____ meeting” on the 50th floor. On a clear day you can see Wisconsin. You might even get to sit in on some sort of MLM sales meeting.

Now if you really want to see forever you need to motor up to Toronto’s CN Tower. That thing is tall! and with that clean Canadian air you can see forever. It’s $26 for an adult but remember that’s Canadian!

Schwebel, Goetz & Sieben is on the 51st floor of the IDS Building. If you have any nagging soft-tissue injuries, this would be a good way to kill two birds with one stone….

“I think there’s a tardeoff. We as a community allow buildings to build high enough to clutter up our skyline and airspace — which they certainly do not own — and they give us spectacular views of the city in exchange.“

Actually, they do own the airspace. As for the “skyline”, that’s an artifical concept, which, b/t/w, no one “owns.” This whole idea of “allowing” someone to do something with their own property is merely a manifestation of the philosophy that, if I have the power to rule you, I must have the right.

Point wasn’t meant to be, it’s not a crime. Point was, you’re certainly free with other people’s stuff. I’m thinking, if you feel you need and deserve a high view, buy a building.

When is this tardoff occuring?
Are there different classes and will there be wagering?

My bet is on Corky! He’s got a mean left hook!

As for the “skyline”, that’s an artifical concept.

Oh yeah. Good point. Like such artifical concepts as “aitspace” and “private property.”