[museumparktom]

Speaking of Grant Park. Does anyone know what’s going on at the South End between the Metra tracks and Agora sculptures? The Park District put up construction fencing from Roosevelt Road to the ratty old bridge and from the Metra tracks the sidewalk just to the east of the Agora. Could this be part of the demolition of the 11th street Metra station? Has this come up at any of the Friends of the Park meetings?

[sentinel]

Speaking of Grant Park. Does anyone know what’s going on at the South End between the Metra tracks and Agora sculptures? The Park District put up construction fencing from Roosevelt Road to the ratty old bridge and from the Metra tracks the sidewalk just to the east of the Agora. Could this be part of the demolition of the 11th street Metra station? Has this come up at any of the Friends of the Park meetings?

Funny you should mention, I was there just yesterday afternoon taking pictures of that whole area; I am using it as my site for a competition sponsored by the CAC (I'm almost done, the deadline is this Friday AHHHHH!!)

[honte]

Carson's seeks S. Loop site
New owner has plans to add more local stores

http://chicagobusiness.com/cgi-bin/article.pl?article_id=27432

With the Carson Pirie Scott flagship on State Street now closed, owner Bon-Ton Stores Inc. is eyeing a replacement site on Roosevelt Road in the South Loop, along with other locations in the Chicago area.

Real estate sources say York, Pa.-based Bon-Ton, which bought Carson's last year for $1.1 billion, wants space at Roosevelt Collection, a shopping center on Roosevelt Road near Clark Street planned by Chicago-based Centrum Properties Inc.

Lisa Balis, senior vice-president of leasing and marketing at Centrum, says she's "not aware of a single conversation anybody here has had with Carson's so far. I don't believe we have room for them, anyway."

Real estate brokers who have talked to Carson's, however, say the company believes it can squeeze into Roosevelt Collection by designing a multilevel space. Failing that, it could consider an empty parcel across Roosevelt Road, the brokers say.

Bon-Ton also is negotiating for a new Carson's site at the Gurnee Mills shopping center in north suburban Gurnee. In Hammond, Ind., it's building a 100,000-square-foot Carson's to replace an older store.

A Bon-Ton spokeswoman won't discuss specific sites, but says: "We are interested in growing Carson Pirie Scott. That name is our biggest contributor to sales, and Chicago is the biggest market we operate in."

Carson's has become Bon-Ton's top-performing division. Bon-Ton reported last week that sales at its non-Carson's stores open at least a year fell 2.7% in the fiscal year ended Feb. 3, while Carson's same-store sales rose 4.3%.

Gurnee Mills won't confirm negotiations with Carson's. But James Hayner, Gurnee's village administrator, says, "We've heard that Carson's is interested in coming here, and they've talked to Gurnee Mills."

The 28-store chain has opened just two stores in the past 20 years. But observers expect Bon-Ton to be more aggressive.

"In the past, Carson's has been hamstrung by its financial condition and always seemed to be retrenching," says John Melaniphy Jr., president of retail consultancy Melaniphy & Associates Inc. in Chicago. "Now they have a parent company willing to invest in them."

[Busy Bee]

^I just don;t understand this logic. Yes, it's great that they are going to reopen downtown, but why not just find space in a more, err, urban location. In a way it seems like the flagship will be a somewhat suburban experience.

Frustrating since B37's plans originallly had the ambition to house a department store, not sure why Carson's didn't try to get in on this development. Or maybe anchor that rumored development on Michigan Ave. between Lake and Wacker, that would have been interesting.

Roosevelt Road shopping feels more like Target, grocery stores, food and small retail than the location of one of the cities flagship dept. stores. Whatever, seems weird though, and another loss for State.

[SamInTheLoop]

^ I doubt Carson's would be able to afford te rents at Block 37. The rents at that project will undoubtedly be by far the highest rents in the history of State St. I totally agree though that the Roosevelt shopping experience is very suburban, unfortunately. The only hope seems to be Roosevelt Collection, but I'll remain skeptical until I see how it turns out.

In today's retail world, the 800,000 sf or so of space at Macy's is really all the department store space State Street can handle (probably too much actually). We may not like this, but these are today's market realities, dictated by the shopping preferences of you and I (ok maybe not literally you and I, but consumers at large). We all know the Sears on State is a massive underperformer (it's Sears, what can we say). Really the only other hope for a new department store on State would have been the Iowa-based chain Von Maur, but they are insistent on locating on the Magnificent Mile (which it looks like they may be waiting a loooooooong time for a space there)....

In other State St news, Crain's reported this week that Annie Sez (in the Toys R Us redevelopment) will be closing after being open for only a year or so. It will be interesting to see who they sublease to - I'm sure the space will be spoken for very quickly, as demand is extremely strong right now for prime first floor space on State....

[honte]

^ I think Loehmann's is opening a two-story store in the MoMo building. Does this count as a department store?

[Busy Bee]

^If Filene's Basement counts I'd have to say that Loehmann's counts. Does Filene's count, or is that like Marshall's™ ≠ Marshall Field's™?

[Frankie]

Swamped by a past of steel
Restored marsh key to Hegewisch's rebirth

By Azam Ahmed
Tribune staff reporter
Published March 19, 2007

Mike Aniol grew up in tiny Hegewisch, where the mantra once was "smoke means jobs."

But the steel industry left his neighborhood on Chicago's Southeast Side a long time ago. Now Aniol and other residents are hoping that an ambitious project to restore a local marsh and erect an environmental center will help fill that void.

"The environmental thing is a good thing. It'll bring people in as tourists, and they might just realize that Hegewisch is awful close to downtown," Aniol said.

Work recently began to restore the marsh, frequented by 20 state-listed endangered species and an environmental center, a one-story glass structure set into a steel "nest."

Both are expected to be completed in late 2009.

Like other communities across the nation, Hegewisch is struggling to find a remedy for the ills of a post-industrial U.S. economy. Some places, like Manayunk, Pa., have attempted to redefine themselves, from industrial wasteland to industrial chic. Others, like Cawker City, Kan., use homemade oddities like the world's largest ball of yarn to draw tourists.

In Hegewisch, people are hoping that a parcel of land about the size of 76 football fields will bring as many as 100,000 tourists a year, by city officials' estimates.

From his perch at the family hardware store, opened by his father, Aniol has seen his community shrink as residents left for jobs and other opportunities. The project could help reverse those trends, he said.

Aniol has the affable manner of someone who always feels at home, and after 55 years in the small community, he should. His mother, Helen, lives across the street and has been in Hegewisch for 85 years. His son lives next door to his mother, and his daughter on the other side.

His hardware store, an impromptu meeting place, has been in his family since he was a boy, and it sits along the main drag.

"I don't think people believe it yet. They don't realize the difficulties in dealing with this," he said of the more than eight-year struggle to begin work on the marsh project.

The marsh is part of the largest tract of marshlands in the U.S. within the limits of any major city, said Marian Byrnes, founder of the Southeast Environmental Taskforce.

"It's quite remarkable that the ecology has survived the industrial abuse," Byrnes said. "It wasn't intentional abuse. It was because people didn't have a view of ecology back then."

Byrnes said it has been a long, hard fight to preserve the land in Hegewisch, which had once been slated to become a third airport for Chicago before civic activism halted those plans.

"Having worked in the environment here since 1979, the most we ever hoped for was to preserve these wetlands without them being swallowed up by dumping and other damage," Byrnes said. "What has happened now is beyond our wildest dreams of what we expected to see in our lifetime."

Last February, the U.S. Fish and Wildlife Service set aside $750,000 for the marsh's restoration. State and local agencies added roughly $500,000 in combined funds, and the city has bought all but a small parcel of the marsh, said Nicole Kamins, program director at the Chicago Department of Environment.

Ford Motor Co., which has a factory in the area, has given $6 million for the environmental center and an endowment, and the City of Chicago has given $3 million to build the center, Kamins said.

"I think most people are hopeful about what potentially can happen--but hopeful as well as being on the lookout to see what's going to happen," said Rod Sellers, president of the Southeast Chicago Historical Society.

Some people are concerned about a possible influx of outsiders and traffic problems, Sellers said. Not all residents are convinced the project will mean money for the area, he said.

"It's a little off the beaten path--you can get to the environmental center without going through heart of Hegewisch," Sellers said.

After most of the steel mills closed down in the 1980s, when the community was at its peak, Hegewisch limped along in the wake of economic globalization. Many residents moved farther south, to the suburbs, and the population dropped about 15 percent, to 9,781, as of the 2000 census.

Hulking, skeletal factories dominate the landscape surrounding the neighborhood, a persistent reminder of the void caused by the steel companies' departure.

Streets are lined with quiet, modest homes that have been passed down through generations. Fissured sidewalks and converted storefronts pervade strips of commercial buildings, and a preponderance of small, blue-collar bars that once served workers pepper the streets.

The Chamber of Commerce sits beside a Food and Liquor store on the main street, Baltimore Avenue, where the city has recently renovated the streetscape with new lights and neighborhood banners. There is a hair salon, a pizza shop, a hot dog place and a Polish deli. None of the buildings along the road rise more than two stories, giving the area its distinct small-town feel, despite being part of Chicago.

The parallel Brandon Avenue shows what 20 years of disrepair means, with sidewalks crumbling and so many patches smacked down over the road Chamber of Commerce President Rich Ralphson has taken to calling it "downtown Beirut."

"It's rundown," he said of the bleak strip. "There are a lot of illegal conversions, where storefronts are now apartments. But we're trying to get that changed."

Some of the older residents think the marsh is a good way to resuscitate the community's expanses of unused real estate, whether empty land or storefront.

"I think anything like that is excellent," said bar owner Dean Miller, who moved to the community in 1978. "Take a piece of useful land and do something with it. It would definitely help my business."

But the 71-year-old, who has owned the Beacon Tap since 1994, is cautious about placing too much hope in the project.

Whether it happens to be the "win-win situation" he hopes for or fails to bring revenue at all, he said the community's strength lies in its ability to stick together, "to not take anything sitting still."

With a handful of state endangered species such as yellow-headed blackbirds and black-crowned night herons frequenting the Hegewisch marsh, and 762 species of plant life, the area could see an increase in visits from bird-watchers and naturalists alike, activists say.

It may also get students, both from the local area and elsewhere in Chicago, to visit the more than 20,000-square-foot Environmental Center. Some, like Amanda Mull, think that something like the center, and the people it could bring into Hegewisch, could help enliven the area.

"There is nothing for teenagers to do here," said Mull, 18, a community college student. "Hegewisch might be better if we had more people. Right now, it's like nobody knows that it exists."

The marsh will be considered an educational site and entry point for the adjoining 4,800-acre Lake Calumet Wetlands area. City officials are hoping, like Aniol, that it will complement the community's heritage.

"The theme that we're using is coexistence. It's not meant to be a nature center where you get away from it all," Kamins said. "It's more about intertwining the natural with the history of the community and industry so that visitors can learn that all these things go hand in hand in the Calumet region."

[denizen467]

that rumored development on Michigan Ave. between Lake and Wacker
Do you mean the NW corner of the South Water intersection?

[spyguy]

Roosevelt Road shopping feels more like Target, grocery stores, food and small retail than the location of one of the cities flagship dept. stores. Whatever, seems weird though, and another loss for State.

From what I understand, the Roosevelt Collection will contain "smaller" shops (still national chains), as opposed to big box, that you might find at a mall, for example Gap. In that context, it might make sense for them to be near other familiar national brands and on a booming retail strip that they can afford.

Although you're right, it seems like there are a lot of spaces on State Street they could have taken.

[brian_b]

How close is the Hegewisch Metra/South Shore stop from the marsh area? It's been newly reconstructed from what I can tell on my SS rides into Indiana.

The Hegewisch area really resembles the northern part of Lake County in NW Indiana a lot more than it resembles any other part of Chicago. A person that didn't know better would definitely choose a spot further west along that line as the border between Chicago and NW Indiana.

[Frankie]

$100 million development aims to boost Lakeview
First condos will be ready by spring '09

Susan Diesenhouse
Published March 21, 2007

A $100 million mixed-use complex that will be developed by Centrum Properties Inc. promises to bring some contemporary style to a busy, somewhat frayed three-way intersection in the North Side Lakeview neighborhood.

The Lakeview Collection will create a new look for the crossroads of Lincoln, Belmont and Ashland Avenues with its sweeping curvilinear facade clad in glass and steel. Designed by Chicago-based Hirsch Associates LLC, the six-story project will include 132 condominiums, 80,000 square feet of retail, perhaps 10,000 square feet of offices and parking for about 300 cars, said John McLinden, a Centrum partner.

The loft-style condominiums, from one bedroom to two bedrooms plus den, will range from 767 to 1,432 square feet. Sale prices will run from $275,000 to about $600,000. The interiors, designed by Cecconi Simone Inc. of Toronto, feature 10-foot ceilings, opaque glass sliding doors for bedrooms and floor-to-ceiling windows offering downtown skyline views. Parking spaces will sell for $37,500 each.

The sales center is scheduled to open March 31.

The project will have restaurants with outdoor dining, a 10,000-square-foot plaza, an 8,000-square-foot park on Melrose Avenue and a 35,000-square-foot health club.

Construction on the 2-acre site now occupied by a LaSalle Bank building will start this fall. The first condominiums will be ready by spring 2009 and the entire project will be completed that fall, McLinden said. Centrum acquired the land late in 2005.

"This used to be one of the major retail hubs of the city, but that evaporated when a lot of major stores went out of business," he said. "This is a great time to restore the mixed-use energy to the neighborhood."

http://www.chicagotribune.com/business/

[VivaLFuego]

^ Awesome, that Lasalle Bank is a real shit sandwich in an otherwise awesome location.

[Busy Bee]

Do you mean the NW corner of the South Water intersection?

Yep. That's the one. I just used it as an example of a great location for a large store. That spot has huge potential for something fantastic, I hope they go for a very large mixed use project here.

[honte]

^ Now that you mention it, I don't think it's such a far-fetched idea. North Michigan is almost entirely built out / spoken for, and everything south of there is landmarked. A megaproject might be in the future for this site.

And if the developer went pretty high, the residential units could have nice views of the park, or even bits of the lake if they went high enough.

[spyguy]

http://egov.cityofchicago.org/city/webportal/portalContentItemAction.do?BV_SessionID=@@@@1191539684.1174512105@@@@&BV_EngineID=cccdaddkhhmgifhcefecelldffhdfhg.0&contentOID=536949750&contenTypeName=COC_EDITORIAL&topChannelName=Dept&blockName=Planning+And+Development%2FI+Want+To&context=dept&channelId=0&programId=0&entityName=Planning+And+Development&deptMainCategoryOID=

Council approves sale of Page Bros. building

Today, the Chicago City Council approved an ordinance introduced by Mayor Richard M. Daley giving the Department of Planning and Development authority to sell the landmark Page Brothers Building.

Marc Realty will purchase the building, 177 N. State St., for $1.625 million, $125,000 above its appraised value. The company plans to spend an additional $1.5 million on improvements to the seven-story commercial building, including facade restoration, a new lobby entrance for upper-floor tenants, roof repairs and a partial green roof.

"This sale is good for State Street and for the Page Brothers Building," said Mayor Daley. "It further enhances the Loop with new retail components, and places a historic building in the hands of a developer with the skill and financial resources needed to preserve it and make it attractive to new tenants."

The developer will fill the first two floors with a restaurant and retail stores. Several current tenants, including the Economic Club of Chicago, and the Civic Federation, plan to remain in the building. The city acquired the building in 1999.

Built just after the Great Chicago Fire in 1872, the Page Brothers Building was designed by one of the city’s first professional architects, John M. Van Osdel. It was listed on the National Register of Historic Places in 1975 and was designated a Chicago Landmark in 1983.

Marc Reality was selected through a competitive bid process based on their experience with renovating several historically significant building including the Heyworth Building, Brooks Building, Stevens Building and the Willoughby Tower.

[SamInTheLoop]

^If Filene's Basement counts I'd have to say that Loehmann's counts. Does Filene's count, or is that like Marshall's™ ≠ Marshall Field's™?


Well, I was thinking more Full-Line department stores.....Loehmann's, Filenes, Marshalls etc would I suppose all be considered Junior department stores....


Here's an idea that is probably one of those that makes way too much sense to ever have the most remote chance of happening - why doesn't Carson's replace Sears on State? Let's face it - that Sears store is doomed, just like the company itself will ultimately be proven as a going retail concern....Carson's would get a much smaller, less costly space to operate, which they're looking for, and get to remain at a prime location on State......

[SamInTheLoop]

http://egov.cityofchicago.org/city/webportal/portalContentItemAction.do?BV_SessionID=@@@@1191539684.1174512105@@@@&BV_EngineID=cccdaddkhhmgifhcefecelldffhdfhg.0&contentOID=536949750&contenTypeName=COC_EDITORIAL&topChannelName=Dept&blockName=Planning+And+Development%2FI+Want+To&context=dept&channelId=0&programId=0&entityName=Planning+And+Development&deptMainCategoryOID=

Council approves sale of Page Bros. building

Today, the Chicago City Council approved an ordinance introduced by Mayor Richard M. Daley giving the Department of Planning and Development authority to sell the landmark Page Brothers Building.

Marc Realty will purchase the building, 177 N. State St., for $1.625 million, $125,000 above its appraised value. The company plans to spend an additional $1.5 million on improvements to the seven-story commercial building, including facade restoration, a new lobby entrance for upper-floor tenants, roof repairs and a partial green roof.

"This sale is good for State Street and for the Page Brothers Building," said Mayor Daley. "It further enhances the Loop with new retail components, and places a historic building in the hands of a developer with the skill and financial resources needed to preserve it and make it attractive to new tenants."

The developer will fill the first two floors with a restaurant and retail stores. Several current tenants, including the Economic Club of Chicago, and the Civic Federation, plan to remain in the building. The city acquired the building in 1999.

Built just after the Great Chicago Fire in 1872, the Page Brothers Building was designed by one of the city’s first professional architects, John M. Van Osdel. It was listed on the National Register of Historic Places in 1975 and was designated a Chicago Landmark in 1983.

Marc Reality was selected through a competitive bid process based on their experience with renovating several historically significant building including the Heyworth Building, Brooks Building, Stevens Building and the Willoughby Tower.

This should be great news - let's get that otb parlor out of there and commence a high quality re-tenanting and I'll be happy...

[SamInTheLoop]

From what I understand, the Roosevelt Collection will contain "smaller" shops (still national chains), as opposed to big box, that you might find at a mall, for example Gap. In that context, it might make sense for them to be near other familiar national brands and on a booming retail strip that they can afford.

Although you're right, it seems like there are a lot of spaces on State Street they could have taken.

Has anyone heard a construction timetable for Roosevelt Collection? The last I heard construction was supposed to begin by late spring/early summer. I'm wondering if the retail will be built in phases or all at once. I have heard that Kerasotes is very anxious to get the movie theater open as soon as possible - they were even throwing around a date of this Nov/Dec in a recent media report, which certainly does not seem feasible to me...

[VivaLFuego]

http://egov.cityofchicago.org/city/webportal/portalContentItemAction.do?BV_SessionID=@@@@1191539684.1174512105@@@@&BV_EngineID=cccdaddkhhmgifhcefecelldffhdfhg.0&contentOID=536949750&contenTypeName=COC_EDITORIAL&topChannelName=Dept&blockName=Planning+And+Development%2FI+Want+To&context=dept&channelId=0&programId=0&entityName=Planning+And+Development&deptMainCategoryOID=

Council approves sale of Page Bros. building

Today, the Chicago City Council approved an ordinance introduced by Mayor Richard M. Daley giving the Department of Planning and Development authority to sell the landmark Page Brothers Building.

Marc Realty will purchase the building, 177 N. State St., for $1.625 million, $125,000 above its appraised value. The company plans to spend an additional $1.5 million on improvements to the seven-story commercial building, including facade restoration, a new lobby entrance for upper-floor tenants, roof repairs and a partial green roof.

"This sale is good for State Street and for the Page Brothers Building," said Mayor Daley. "It further enhances the Loop with new retail components, and places a historic building in the hands of a developer with the skill and financial resources needed to preserve it and make it attractive to new tenants."

The developer will fill the first two floors with a restaurant and retail stores. Several current tenants, including the Economic Club of Chicago, and the Civic Federation, plan to remain in the building. The city acquired the building in 1999.

Built just after the Great Chicago Fire in 1872, the Page Brothers Building was designed by one of the city’s first professional architects, John M. Van Osdel. It was listed on the National Register of Historic Places in 1975 and was designated a Chicago Landmark in 1983.

Marc Reality was selected through a competitive bid process based on their experience with renovating several historically significant building including the Heyworth Building, Brooks Building, Stevens Building and the Willoughby Tower.

Another lost opportunity for a true transfer station between the L and the subway at State/Lake. Way to go, city government.....transit's hardly ever even on your radar. Great job with all that TOD you're (not) working on, too.

[honte]

^ Interesting points.

______________________________________

Archdiocese to expand historic Soldiers' Home
http://www.suntimes.com/business/307803,CST-FIN-diocese22.article

March 22, 2007
BY DAVID ROEDER AND FRAN SPIELMAN Staff Reporters

A Chicago rarity -- a building with a direct link to the Civil War -- is expected to be renovated and expanded for office use by the Roman Catholic Archdiocese of Chicago.

The archdiocese has filed a zoning request with City Hall to accommodate its plans for the Soldiers' Home at 739 E. 35th St., a designated landmark. The property includes a series of buildings, the oldest of which dates from 1864 and served as a hospital for Civil War soldiers.

After the war, it became a home for disabled veterans of the Union Army, according to historical sources. Brian Goeken, the city Planning Department's deputy commissioner for landmarks, said the site eventually was sold to an order of nuns that ran an orphanage there.

The archdiocese plans to demolish the more recent additions, one of which went up in 1957, and build a three-story attachment to the original building, said spokesman James Accurso. He said the changes will improve the layout for offices while respecting the architecture.

Accurso said about 150 archdiocesan employees will move to the site.

Separately, about 250 employees will move to Archbishop Quigley Preparatory Seminary, 103 E. Chestnut, starting in about August 2008, he said. The seminary is closing, and the archdiocese plans to sell its central office building at 155 E. Superior.

The architect for the Soldiers' Home was William Boyington, designer of the Water Tower. Accurso said the property was last used as a child care center and has been vacant for a couple of years.

The site is across 35th Street from the monument and tomb of former U.S. Sen. Stephen Douglas, remembered for his role in the nation's debate about slavery and for losing the 1860 presidential race to Abraham Lincoln.

[Loopy]

From Cook County Property Transfers.

Probably nothing more than an old office building changing hands. There is a big terra cotta/brick building on the SW corner of Madison and Wabash. Any ideas?

Doc# - 0705734082
Address Unit - 12 S WABASH AVE CHICAGO
City Zip Code - 606032801
Amount - $34,085,000
Recorded - 02/26/2007
Executed - 02/20/2007
Seller - CHICAGO TITLE LAND TRUST CO TR 0000011892106
Buyer - HH CHGO LLC
Pin - 17151000190000
Township - SOUTH CHICAGO

[dvidler]

Another lost opportunity for a true transfer station between the L and the subway at State/Lake. Way to go, city government.....transit's hardly ever even on your radar. Great job with all that TOD you're (not) working on, too.

So what did you exactly envision? That the CTA tear down a historic building to build a transfer station?

[VivaLFuego]

So what did you exactly envision? That the CTA tear down a historic building to build a transfer station?

No of course not....but since the building is being renovated, why not have the NW corner of the first 2 floors be devoted to a transit station, with elevators and escalators going down to the subway and up to the L (like the etrances to Clark/Lake from the Thompson Center and 203 Lasalle, and like what the city intends to do with the Garland building at the new Washington/Wabash station where the Staples currently is). What makes this even easier is that the city already controls the building! So there wouldn't even be acquisition costs...

[ardecila]

Loopy, I'm pretty sure that building is a Carson's annex.

[brian_b]

From Cook County Property Transfers.

Probably nothing more than an old office building changing hands. There is a big terra cotta/brick building on the SW corner of Madison and Wabash. Any ideas?

Doc# - 0705734082
Address Unit - 12 S WABASH AVE CHICAGO
City Zip Code - 606032801
Amount - $34,085,000
Recorded - 02/26/2007
Executed - 02/20/2007
Seller - CHICAGO TITLE LAND TRUST CO TR 0000011892106
Buyer - HH CHGO LLC
Pin - 17151000190000
Township - SOUTH CHICAGO

Yep, it's a Carson's building. Built in 1896, 10 stories.

[Loopy]

I thought so too. But I walked by it today on my way home from work. It appears to be the "Silversmith Building" a National Register landmark. It's a commercial building with beautiful green terra cotta on the the lower part with rich red brick above. It is now a Crowne Plaza boutique hotel.

Although the address of the Silversmith is 10 S. Wabash. the center storefront in the building, a jewler, is 12 S. The zip+4 on the transfer record comes up as 10 S Wabash.

I'm not sure what the significance of this is, just that a 34 million dollar property sale on that block caught my eye. I'll troll Roeder with it, maybe he can do the grunt work for us.

[honte]

]An estimated 599,000 residents left Cook County during the past six years

Of course I can't quantify the following, but I find this number really hard to believe. It's something like 270 people per day, every day, for six years?

I drive around Cook County a lot, and I simply don't see evidence of this. Not even when you factor in the net loss, which is smaller, does it seem possible.

[honte]

^ Yeah, that's why I wrote the second part.

Even so, I can't imagine that much flux in the metro area. I know it's a huge place, but I just don't see it.

As a very rough way to look at it, do the sales figures of homes even remotely compare to these figures? I guess they must. If you suppose that 1/2 of Cook County is owned houses, and 2 people are average per household, that would be 68 sales per day, and all of these would have to have a party leaving Cook County. There would have to be an equal number of leases signed during the same period, of course.

[aaron38]

I don't understand those numbers either from a suburban Cook County viewpoint. Palatine and Arlington Heights and Mount Prospect and Des Plaines and Park Ridge have all been adding downtown condos and infill developments all over the place. As has Schaumburg, Hoffman Estates and the eastern Barrington area.
I guarantee you Palatine's population is several thousand higher today than in 2000.

All the shrinkage would have to be in the southern half of Cook then. And if such flight was so concentrated, wouldn't there be enitre deserted neighborhoods?

[SamInTheLoop]

I can buy the Census Bureau's estimates for suburban Cook County - despite the exceptions mentioned above - - most of the inner suburbs see very little new development and economic decline leading to a loss of population. The Bureau's estimates in the 90s for a declining population in suburban Cook County were actually borne out in the 2000 Census. However, as I've mentioned before, there is absolutely no way the city itself is losing population this decade. Just as happened all throughout the 90s with their botched estimates, the Census Bureau is missing the boat again this decade as I am positive that when the results of the 2010 Census are released (unfortunately we'll probably need to wait until then), we will see that the city's population again increased modestly over the 2000-2010 period...

[Busy Bee]

Seems like an article circa 1989. Can't believe we are still seeing this shit.

[brian_b]

Just yesterday I was looking at the Census estimates for Chicago since 1990. The Census estimated a very slow gain in population from 1990 to 1996 and then from 1997 up until now they've been estimating population losses that are growing larger every year. Using their estimates, the city will be empty in 50 years.

Anyway, from 1990 to 2000, the Census estimated that Chicago lost about 10-15,000 people, but when the official 2000 census results came out, Chicago gained about 110,000 people.

Given that the Census estimates have been following a trend since 1997, I don't think they learned a thing from the 2000 Census. After looking at all this, I don't place much value on Census estimates at all. I'll wait for the 2010 Official count.

[sentinel]

Just yesterday I was looking at the Census estimates for Chicago since 1990. The Census estimated a very slow gain in population from 1990 to 1996 and then from 1997 up until now they've been estimating population losses that are growing larger every year. Using their estimates, the city will be empty in 50 years.

Anyway, from 1990 to 2000, the Census estimated that Chicago lost about 10-15,000 people, but when the official 2000 census results came out, Chicago gained about 110,000 people.

Given that the Census estimates have been following a trend since 1997, I don't think they learned a thing from the 2000 Census. After looking at all this, I don't place much value on Census estimates at all. I'll wait for the 2010 Official count.

The thing is, even the "Official" count every ten years is also an estimate/approximation, so even THAT is always unreliable.

[SamInTheLoop]

The thing is, even the "Official" count every ten years is also an estimate/approximation, so even THAT is always unreliable.

While technically true, based on the various methodologies used I have every reason to believe the decennial census would result in a much more accurate count than the biannual estimates...

[the urban politician]

^ You're forgetting that the combined entity (ICE-CBOT) would be based in Chicago.

And I'm sorry, but I just don't see CME letting this deal slip though

[honte]

^ I'm with you. Jamie Dimon (or however you spell it) fed us the same line of BS. "Oh yeah, I bought this mansion in the Gold Coast and I want to help your city's business community so much...." then before you know it, he's on a flight back to NY with millions in stock sell-out and we're left with a Chase sign "pink slip" hanging on the 1st Chicago building.

[the urban politician]

^ yes , promises.... but loss of control, so ultimate fate rest in Atlanta. I wouldn't bite on the bait, don't let the trojan horse in....

^ Not really. In the deal, CBOT members would hold 51% stake in the company. Lets not forget that CBOT has to agree to this deal, and they will likely do it on their own terms. After all, ICE has to fight the uphill battle of convincing them that their deal is better than the one with CME.

I'm with you. Jamie Dimon (or however you spell it) fed us the same line of BS. "Oh yeah, I bought this mansion in the Gold Coast and I want to help your city's business community so much...." then before you know it, he's on a flight back to NY with millions in stock sell-out and we're left with a Chase sign "pink slip" hanging on the 1st Chicago building.

^ Legitimate concerns, actually. But I don't think the Bank One deal is like CBOT-ICE at all. Bank One wasn't a Chicago institution for well over a century. Bank One was a combination of a Chicago and Ohio (I think) entity, with loss of the FirstChicago name right from the get-go. ICE wouldn't think of melting away the CBOT name, mostly because CBOT is an incredibly strong brand and eliminating it would be outright stupid.

Either way, this discussion is moot because the Merc will easily bully ICE out of the rink

[VivaLFuego]

You sure? I think Merc will need to raise the offer. Shareholders purchase their shares for maximum return on investment, and they clearly weren't convinced they could acheive that by accepting an offer worth $1 billion less.

Not all people are like me, who intentially gets Motorola phones and Sara Lee bread regardless of price and quality to help the Chicago economy.

[honte]

^ I do that too! Ha ha... well, maybe not the bread, but other brands.

TUP, I think you are right about the brand name. But that doesn't stop anyone from getting "homesick" for Atlanta, or doing a Boeing thing and saying, "Gee wouldn't it be great for the business if the corporate headquarters distanced itself from the trading pits, so that we can have a clear view of the operations?"

I think the 51% numbers could be fairly easily shifted out of balance, no?

[Marcu]

^ I do that too! Ha ha... well, maybe not the bread, but other brands.

TUP, I think you are right about the brand name. But that doesn't stop anyone from getting "homesick" for Atlanta, or doing a Boeing thing and saying, "Gee wouldn't it be great for the business if the corporate headquarters distanced itself from the trading pits, so that we can have a clear view of the operations?"

I think the 51% numbers could be fairly easily shifted out of balance, no?

It will really come down to who is on the board. It really doesn't matter who owns the majority share as far as actual control of the company goes. Board members are rarely ousted from office so the ones that get on from the get go will likely stay on for a long time. Board elections are something like 98%+ uncontested.

[the urban politician]

You sure? I think Merc will need to raise the offer. Shareholders purchase their shares for maximum return on investment, and they clearly weren't convinced they could acheive that by accepting an offer worth $1 billion less.

Not all people are like me, who intentially gets Motorola phones and Sara Lee bread regardless of price and quality to help the Chicago economy.

^ Oh, unless they're totally stupid, the Merc will raise their offer.

Again, I just can't imagine the Merc letting this deal slip away. It's already been established that they have the money and hometown advantage to muscle ICE out of the way. They probably are just a bit frizzled from this sudden change of events, but I'm guessing they'll fight for CBOT if they have to, and they probably will have to.

Anyway, the local media is doing a good job of covering every development in this fun little debacle. It's entertaining, if you ask me.

[laro3]

i smelly something fishy with ice,goldmansachs undercover

[the urban politician]

i smelly something fishy with ice,goldmansachs undercover

^ Nothing undercover about it. I think it's pretty obvious and universally known that some major financial institutions are behind this whole charade.

[denizen467]

^ Does anyone know Sprecher's background? Not that it's determinative or anything, but e.g. is he a lifelong Atlantan or is he a transplant from Wall Street?

[brian_b]

The Merc could always fight back... with a hostile takeover of ICE.

ICE is trading about 7% lower since they made their offer to CBOT (which, by the way, has lowered the value of their offer since it's a stock-for-stock offer).

In fact, perhaps all the Merc needs to do is get the value of ICE to drop far enough that the value of the deal is less than the Merc's offer.
They could give GS and ML a taste of their own medicine and use their dirty little trick against them - naked short selling (http://youtube.com/watch?v=7fcre8P2UUY). OK, I'm just kidding. I don't suggest they do anything illegal no matter how often the big guys in NYC do it.

[SamInTheLoop]

^ Oh, unless they're totally stupid, the Merc will raise their offer.

Again, I just can't imagine the Merc letting this deal slip away. It's already been established that they have the money and hometown advantage to muscle ICE out of the way. They probably are just a bit frizzled from this sudden change of events, but I'm guessing they'll fight for CBOT if they have to, and they probably will have to.

Anyway, the local media is doing a good job of covering every development in this fun little debacle. It's entertaining, if you ask me.


I complety agree with you TUP. Merc has the wherewithawal and imo the motivation and desire to outbid ICE by a huge distance. They'll get CBOT - of course they made need to raise their offer, which they ultimately will if it's made clear they need to (and imo it probably has)...

[SamInTheLoop]

Has anyone heard anything recently about this 8-story office project in River North? I believe it is planned to be the new hq offices of Centrum Development and is designed by their favorite architect, Hirsch Associates, who incidentally are located just next door...

[spyguy]

Night rendering of Lakeview Collection
http://img376.imageshack.us/img376/5741/lakeviewfinahr150dpisg5.jpg

[Chi_Coruscant]

L. L. Bean leads retail bump
Chicago snags chains intent on expansion
http://www.chicagobusiness.com/cgi-bin/mag/article.pl?article_id=27480

Led by New England outdoor gear merchant L. L. Bean, a parade of out-of-town retailers is entering the Chicago market.

L. L. Bean Inc., the 95-year-old company based in Portland, Maine, begins construction in April on a store at the Arboretum shopping center in South Barrington. Opening is slated for 2008. L. L. Bean is also eyeing sites in Lincoln Park, Oak Brook and on the North Shore, according to real estate brokers familiar with the plans.

The arrival of L. L. Bean and up to 20 other retailers coincides with a jump in retail construction. Mid-America Development Partners LLC in Oakbrook Terrace says local retail development is expected to more than double this year.

"A yoga lifestyle chain called Paiva opened recently on Michigan Avenue and Ralph Lauren just opened its Rugby store, which is focused on college-aged shoppers, on Halsted" in Lincoln Park, says Jennifer Millard, a director at Chicago retail consultancy McMillan Doolittle LLP. "Chicago is a great testing ground."

In a choppy economy, some big chains have curtailed expansion: Ann Arbor, Mich.-based Borders Group Inc. moved last week to sublease four Chicago stores (ChicagoBusiness.com, March 20). But some smaller retailers are pressing ahead. Sharon Kahn, a vice-president at CB Richard Ellis Inc. in Chicago, says she represents a half-dozen retail tenants new to the market.

"There are a lot of small retailing entrepreneurs around the country who . . . want to expand. And they want to come to Chicago," she says.

New arrivals include Irvine, Calif.-based L.A. Fitness, a 188-club chain; Famsa, a Mexican electronics retailer (Crain's, March 12); Arhaus Furniture, an Ohio retailer; Plow & Hearth, a patio store from Madison, Va., and Swoozie's, an Atlanta stationery chain slated to open its first local store in Oak Brook this month.

Other names scouting storefronts include womenswear retailer C. J. Banks and photo processor Clix. Restaurant chains such as Del Taco, Elephant Bar, Fleming Steakhouse, Pei Wei and White Chocolate Grill are all seeking locations.

BIGGER BEAN
The biggest surprise has been L. L. Bean, which has 23 stores, none west of Philadelphia. It plans to open three stores this year in the Northeast and will double that pace in 2008. "We're considering lots of areas for future growth, including the Chicago area and other cities west of New England," says an L. L. Bean spokeswoman. "But we can't comment about anything specific yet."

Michael Jaffe, president of Jaffe Cos., the Northbrook-based developer of the Arboretum, won't confirm that L. L. Bean is coming. But he says other retailers new to the area, including Arhaus and Soft Surroundings, an apparel and home furnishings retailer based in St. Louis, have signed leases.

"Retailers overall are in a pretty cautious mood," he says. "But whatever expansion is occurring, Chicago seems to get its share."

L.A. Fitness International LLC opened clubs in Evanston and Hanover Park this year. It's acquiring a site in Oswego and is seeking as many as a dozen locations.

"We like Chicago because it's less expensive than New York," says William Horner, a senior vice-president of real estate at L.A. Fitness.

[SevenSevenThree]

Night rendering of Lakeview Collection
http://img376.imageshack.us/img376/5741/lakeviewfinahr150dpisg5.jpg

Thanks for the rendering. Im having a bit of a brain-fart. I know this development but cant for the life of me figure out where it is. Streets? I see Lincoln but still drawing a blank.


Edit: And while the design is just decent to me, Chicago neighborhoods could really use these types of developments on a widespread scale. Especially on our major corridors like Ashland, Broadway, Western etc. Its great that downtown has evolved into something great, but I really think its time we focus on the neighborhoods with high-density projects. Its where everyone lives. Give them great projects with great choices in amenties and I swear the city will be better for it.

[paytonc]

It's Ashland heading N to the left and Belmont heading E to the right. Currently a LaSalle Bank.

Sadly, even as that intersection breaks the tyranny of the banks (too many banks at one intersection kills foot traffic), Milwaukee, North, and Damen will fall to the same disease; B of A is taking over from Swank Frank and Filter. Banks at three corners, Starbucks at a fourth, and a cell phone store at the fifth. Yay. Whatever happened to Vi Daley's ordinance to limit banks on P-streets?

Re: the population figures. Anyone notice that the collar counties now have more residents than Chicago?

Re: River East Arts Center Lofts Expansion. I used to work on the top floor of North Pier and there were some amazing double-height spaces -- ceilings must have been well over 24'. Guess they'll be gone when the addition sprouts.

[sentinel]

There's something about those population figures that just isn't making sense - specifically about Chicago and Cook County - in a place like Detroit and Wayne County, you feel that there was flight from the city because you could see tangible evidence of the decay of the area, at least when I lived there; open space/empty lots accounted for more than double the land in most areas in Detroit as compared to seeing a built structure, whereas in Chicago, I have not seen that epidemic anywhere, not on the south side, westside, near southwest, even outside of the City limits and into Cook County - my impression has always been that there is generally MORE construction precipitated by more housing demand, both affordable and market rate, and don't even get me started about the Loop, south loop, near north, west loop, uic/greektown, near south side, lincoln park, etc, etc, where new development isn't in question - perceptively, it seems like more people are moving into than leaving. I don't know where these numbers are coming from?

[the urban politician]

I don't know where these numbers are coming from?

^ Somebody's ass.


http://img376.imageshack.us/img376/5741/lakeviewfinahr150dpisg5.jpg

^ Sweetness. I'm generally not a huge fan of our current generation's obsession with setbacks from the street and boring sterile plazas, but this one looks pretty nice

[2PRUROCKS!]

Those population figures just don't seem to reflect anything that I have witnessed. I live in suburban Cook county and I have not noticed this flight anywhere I have lived or been through. I lived in Brookfield until last July and I now live in Westechester. Both seem to be either growing slightly or at least stable. Growing up in Brookfield we lost population in the 80's and were stable in the 90's. I now get the impression the population in the area is growing or at least stable. There are hardly any vacant houses and relatively high density developments are happening in the area. Also when I went to highschool (Riverside Brookfield) enrollment was at an all-time low. It has now increased significantly, to the point that the school needs to build a major addition on Brookfield zoo property. This would have been unthinkable when I attended. Now this could be accounted for by changing demographics, with younger families replacing older folks, but that should mean the average household would be larger. Also I know there is a lot of new development in southern Cook around Orland Park, where my in-laws live and the population in that area is must be increasing. The only thing that could possibly explain a decrease in population for Chicago and suburban Cook is a decrease in average house size. This is happening, but it has been a trend for awhile and I don't believe it could account for such a dramatic reduction in less than 10 years, especially while other demographic groups are moving into areas that were not really residential (empty nesters and dinks moving into the loop area may reduce the average house hold size for the county as a whole, but they are moving into areas that were not formerly residential). The main way that I could see Chicago and Cook losing population is if people leave in large scale because they are being priced out and can’t afford to live in the area.

[Eventually...Chicago]

Yeah, i agree those pop. figures are odd. Certainly no one can doubt the explosion of crappy collar suburbs with their strip malls and housing subdivisions but with all the new development in the city proper it seems illogical that the pop. is decreasing. Certainly the downtown area is exploding but even if a large percentage of people are buying condos as second homes or relocating from other areas of the city there are a significant number of people (like me) moving from the suburbs to the city. I really think the census has always been anti-city and they are very incompetent at estimating urban populations where people are not as easy to count as those in their detached one storey house. Hence the continuous (and very well documented) under-representation of poorer urban populations.

On a totally unrelated note, has anyone checked out this project: www.greenexchange.com

It is pretty cool, a sustainable business incubator of sorts.

[Marcu]

http://img376.imageshack.us/img376/5741/lakeviewfinahr150dpisg5.jpg



This thing needs to be at least 3 stories taller. Something about it just doesn't look proportional. Maybe the setback to height ratio.

[SamInTheLoop]

^ Agree. It's just too squat-looking...

[SamInTheLoop]

Yeah, i agree those pop. figures are odd. Certainly no one can doubt the explosion of crappy collar suburbs with their strip malls and housing subdivisions but with all the new development in the city proper it seems illogical that the pop. is decreasing. Certainly the downtown area is exploding but even if a large percentage of people are buying condos as second homes or relocating from other areas of the city there are a significant number of people (like me) moving from the suburbs to the city. I really think the census has always been anti-city and they are very incompetent at estimating urban populations where people are not as easy to count as those in their detached one storey house. Hence the continuous (and very well documented) under-representation of poorer urban populations.

On a totally unrelated note, has anyone checked out this project: www.greenexchange.com

It is pretty cool, a sustainable business incubator of sorts.


I've argued this exact same thing before - the Census Bureau and private industry demographic data providers are much more accurate at estimating and projecting population for greenfield areas where you can literally count rooftops than in urban areas. This seems to be particularly true for urban areas that are experiencing large amounts of redevelopment...

[Marcu]

^ Agree. It's just too squat-looking...

Also, I can see residential portion ending up looking like crap if cheap material is used.

[ChicagoBruce]

^^I have mixed feelings about someone buying LaSalle.

As a city resident, I'd hate to see them get sold and cut employee numbers and further dilute CHicago's banking status. But as someone who works in Middle Market lending for a competing bank I would LOVE it.

[sentinel]

Well, according to this morning's online NYTimes, there is an article which says that Citibank is planning on laying off potentially thousands of employees and focus it's attention for a while onto overseas investment opportunities such as in India, so the potential for LaSalle/ABN-AMRO being overtaken by Citicorp is now greatly diminished:

Citigroup Plans to Shed Thousands of Jobs
Keith Bedford/Reuters
By HEATHER TIMMONS and ERIC DASH
Published: March 26, 2007
NEW DELHI, March 26 — Under pressure from shareholders, Citigroup is planning to shed thousands of jobs and sharpen its focus on its operations outside North America.
(NY Times online, front page).

[tennis1400]

I also think that the Census Bureaus current method of counting population needs to be revised. There are far more intangible sin a dense urban area than in other parts of the country. More illegals, immigrants etctera. Regardless, its important to get it right!

[VivaLFuego]

I made these for another thread in city discussions because some ignoramus commented that Chicago has no density outside of it's downtown core, so I decided to back it up with facts. But anyway, I thought you all might be interested too. They're pretty large.

http://farm1.static.flickr.com/158/435859783_96a7a33abc_o.jpg

http://farm1.static.flickr.com/146/435867987_e4dea12c96_o.jpg

Basically its a density map using 2000 Census tract data with density per mile. Overlayed with transit lines and I threw on some neighborhood names for reference for those interested.

[Taft]

I also think that the Census Bureaus current method of counting population needs to be revised. There are far more intangible sin a dense urban area than in other parts of the country. More illegals, immigrants etctera. Regardless, its important to get it right!

It can actually be quite important, dictating the amount of funding an area will get from the government. NYC has challenged census numbers on a number of occasions for this very reason. Don't know why Chicago doesn't...

Taft

[Eventually...Chicago]

It can actually be quite important, dictating the amount of funding an area will get from the government. NYC has challenged census numbers on a number of occasions for this very reason. Don't know why Chicago doesn't...

Taft

Chicago challenged the 2000 census...

And i don't think that it is limited to just illegals and other groups of lower income people. Cities have many different types of residents, such as the business person who splits time between areas or students who aren't counted as permanent residents. The problem with counting people in cities is the very nature of cities, they are diverse.

[honte]

I made these for another thread in city discussions because some ignoramus commented that Chicago has no density outside of it's downtown core, so I decided to back it up with facts.

Beautiful graphics, VLF.

[honte]

Planned Southworks project picks up Solo site

March 27, 2007
http://www.suntimes.com/business/313931,CST-FIN-Solo27.article

A city-within-the-city, featuring residential, retail and high-tech commercial development would rise on a nearly-600-acre site at the former U.S. Steel mill if a South Side development company can fulfill its vision.
Southworks Development LLC said Monday it bought Solo Cup Co.'s bedeviled 118-acre site at 87th Street and the lakefront, adjacent to nearly 400 acres already controlled by Southworks.

Said Daniel McCaffery, a key mover behind the plan, "The development will change the face of the entire Southeast Side of Chicago."

Preliminary plans call for:

• • A major shopping center.

• • A variety of housing options including senior living, single family and town houses as well as high- and mid-rise multifamily units.

• • Institutional uses such as education, research, biomedical and high-technology facilities.

The transaction is expected to close Nov. 30, and the sale for an undisclosed amount has been approved by the City of Chicago, which conducted a detailed review of the proposed redevelopment plans for the site, Southworks said.

Southworks Development is a joint venture between Chicago's McCaffery Interests, and two Philadelphia real estate players, Lubert Adler Funds and Westrum Development. Lubert Adler would be the financier and Westrum has signed as an operating partner.

Westrum Development CEO John Westrum said, "With more than a mile of waterfront and the addition of more than 115 acres to Chicago's lakefront parks, this will be a magnificent setting in which to build a residential community."

The Solo Cup site has been a source of disappointment since the company acquired the land from U.S. Steel in 2001. Plans to build a new factory on the site ran aground on an ill-advised acquisition of Sweetheart Cup Co., a glut of inventory and a staggering debt load.

Instead of building new, Solo Cup expanded a facility at 7575 S. Kostner and has been vainly searching for a buyer for the U.S. Steel site since.

Solo Cup CEO Robert M. Korzenski said, "We have arrived at a solution for this property that is a win-win for everyone. We are very pleased the land will now be put to its best possible use."

[Chicago3rd]

Well, according to this morning's online NYTimes, there is an article which says that Citibank is planning on laying off potentially thousands of employees and focus it's attention for a while onto overseas investment opportunities such as in India, so the potential for LaSalle/ABN-AMRO being overtaken by Citicorp is now greatly diminished:

Citigroup Plans to Shed Thousands of Jobs
Keith Bedford/Reuters
By HEATHER TIMMONS and ERIC DASH
Published: March 26, 2007
NEW DELHI, March 26 — Under pressure from shareholders, Citigroup is planning to shed thousands of jobs and sharpen its focus on its operations outside North America.
(NY Times online, front page).

I don't know because the article I heard talked about CITIGROUP regrouping in less expensive markets. Citigroup does tend to be strong at acquisitions but not at growing holdings. Perhaps buying LaSalle and moving operations to Chicago...a cheaper market might fit their plan to reorganize?

[nomarandlee]

I really dread the semantics behind "shopping center" here. That could take a lot of different forms but it makes me very nervous.

[Marcu]

I really dread the semantics behind "shopping center" here. That could take a lot of different forms but it makes me very nervous.

When I read that I immediatly thought one of the planned Walmarts will go there. If not Walmart, than probably Target. The area lacks a big box presence.

[spyguy]

I don't remember many details, but SOM is designing Southworks, so it shouldn't turn out too bad.

[the urban politician]

I don't remember many details, but SOM is designing Southworks, so it shouldn't turn out too bad.

^ Is that still the case? That was announced quite some time ago..

[Taft]

Does anyone know what's going on in front of the Board of Trade building right now? They put up wooden barriers around a portion of road/sidewalk in front of the building about two weeks ago. Today, I peered around the fence and saw that they had ripped up the road and sidewalk, revealing a lower street level below.

Anyone in the know?

Taft

[dvidler]

In Inner-City Chicago,
'Metropolis' Hopes to Rise
By RYAN CHITTUM
March 28, 2007; Page B1

CHICAGO -- Most mixed-use projects get built in trendy city neighborhoods or tony suburbs. Quintin E. Primo III plans to put his on land previously occupied by some of Chicago's most-impoverished housing projects.

The development, to be called Metropolis, will be built in two phases and will cost about $500 million -- a lot of money for a neighborhood that's been down on its luck for 50 years.

But where most developers might see high crime and dilapidated surroundings, Mr. Primo, a newcomer to commercial real-estate development, sees opportunity. "The argument is unassailable that there is significant buying power concentrated in these minority communities that remains untapped," says Mr. Primo, chief executive of Capri Capital Partners LLC, a real-estate-investment firm that manages about $3 billion in assets.


The shell of a housing project stands across from the Metropolis site.
Mr. Primo's passion notwithstanding, some wonder whether the project can succeed. "You really have to reassure the retailers that the market will be there," says Rachel Weber, an urban-planning professor at the University of Illinois-Chicago.

The project's backers hope to do just that. Metropolis was designed by blue-chip architecture firm Skidmore, Owings & Merrill LLP, known for working on the buildings that dominate Chicago's skyline: the Sears Tower and the John Hancock Center. The first phase will feature 330,000 square feet of retail space and 102 condominiums. A planned second phase would add a hotel and high-rise condos.

The architect's renderings show a glassy, modern look, a departure from the low-scale stucco found in most contemporary shopping centers. The six-story building has a sprawling rectangular base topped in the middle with tiered, curved floors decorated with windows of multicolored glass.

The design and scope of the development, which will have a grocery store, drug store, restaurants and 20 other shops, says a lot about how some developers envision the future of America's inner cities. In many such neighborhoods, it can be hard to find essentials like groceries and prescription drugs, and residents have to trek elsewhere to make purchases.

But that's changing, in part due to developers such as Mr. Primo. Capri Capital's co-founder and one of the few African-American executives in commercial real estate, he's building Metropolis with partner Judson Investment Co. LLC to fill a vacuum in the community but also to prove that it's possible to make money in poor neighborhoods while stimulating economic activity there.


At Metropolis, 102 condominiums will top 330,000 square feet of retail surrounding a two-acre park.
According to Michael E. Porter, head of the Initiative for a Competitive Inner City, which studies urban economies, average incomes in inner-city communities rose 8%, after adjusting for inflation, from 1992 to 2002. (ICIC defines inner-city areas as those ZIP Codes where poverty is 50% higher, unemployment is 50% higher and median income is 50% lower than the average for the metropolitan area) At the same time, a boom in residential construction is luring black middle-class families with higher incomes.

Yet the number of stores in inner-city communities has shrunk. An ICIC study published in September found that the gap between shopping demand and supply in inner-city neighborhoods in the top 100 U.S. cities is about 35% -- or $42 billion. That means that consumers who live in inner cities satisfy 35% of their shopping needs outside of their communities.

In the Bronzeville neighborhood where Metropolis will be built, the gap is wider. Consumer demand is $399.2 million a year within a mile radius. But 69% of residents' spending is outside the area -- some $275 million a year, according to Claritas Inc., a San Diego marketing-information company.

It wasn't always so in Bronzeville, a historic African-American neighborhood created by the Great Migration of blacks from the South in the early 1900s, and once known as the "Black Metropolis." It was once a vibrant area with shops and music clubs that was also home to jazz pioneer Louis Armstrong, bluesman Muddy Waters, and trailblazing journalist and suffragist Ida B. Wells, among many others. But the neighborhood went downhill after World War II and by the 1950s was racked with poverty, exacerbated by the city's decision to concentrate poor blacks in high-rise housing projects in the neighborhood.

More recently, the area is making something of a comeback. All but a couple of housing projects have been torn down, and mixed-income housing is rising as part of a Chicago plan to fix its abysmal public housing.

Raised in the suburbs as the son of a schoolteacher and the first black Episcopal bishop in Chicago, Mr. Primo, a friend and early supporter of Democratic presidential candidate Sen. Barack Obama, speaks of "elevating the disenfranchised," but insists his project is not philanthropy. "It makes great economic sense for hard-nosed, cold-hearted, socially disinterested business organizations to pursue this market," he says.

Mr. Primo, 52 years old, is one of a small number of African-Americans who have broken into big-time commercial real-estate development in part by focusing on communities that long have been off developers' radar. Former basketball legend Earvin "Magic" Johnson, owns Beverly Hills, Calif.-based Johnson Development Corp. and began putting up movie theaters and restaurants in inner cities in 1994.

San Francisco-based MacFarlane Partners, a real-estate investment firm with $12 billion in assets and headed by Victor MacFarlane, has many investments in lower-income minority areas as does Urban America, run by Richmond S. McCoy, which recently closed its second urban fund to buy about $1.4 billion in real estate over the next two years.

To increase the odds that Metropolis will draw from outside the neighborhood, Mr. Primo hired Skidmore and charged the firm with the mission of designing something impressive architecturally. "How many developers in the inner city hire SOM to design their projects?" Mr. Primo says. "Zero?"

"We believed that if designed properly and built properly, we would create a project that would be welcomed by the community and would translate into high-dollar-per-square-foot rents for us and high sales for the retailers," says Mr. Primo, who is also a pianist and composed and performed a jazzy piece for a video presentation of the project.

Even though city politicians are encouraging the new development, navigating Chicago's political minefields hasn't been easy. To win the crucial support of alderman Dorothy Tillman, Mr. Primo included a fountain in the design at her request and also will put in a technology center, giving area residents free access to computers and the Internet.

Gloria Dickson, who works at an animal shelter, lives across the street from the site and says she looks forward to having a new grocery store, since it currently takes her about 30 minutes to walk to the nearest one. But she worries the changes might bring gentrification. "I just hope that doesn't happen so that rents don't rise so high," she says. "I don't want to get pushed out of this area."

While Capri Capital and Judson Investment control part of the site, they still need approval from the Chicago Housing Authority to purchase the rest. Metropolis also has no anchor tenant yet, usually a requirement for retail developers to start a project. "We're prepared to start without an anchor," says Mr. Primo.

"The proof is in the pudding," Mr. Primo says. "We'll see how it all tastes after we're done."

--Alex Frangos contributed to this article.

Write to Ryan Chittum at ryan.chittum@wsj.com1

URL for this article:
http://online.wsj.com/article/SB117504655261651237.html


Hyperlinks in this Article:
(1) mailto:ryan.chittum@wsj.com

[SamInTheLoop]

^ What an awesome proposal....I really hope it moves forward!

[SamInTheLoop]

There was a blurb in today's Sun-Times that Paul Harvey may be preparing to make a large contribution (or purchase naming rights) for the Museum of Broadcast Communications. Hopefully enough donations are on the way to get this project the cash infusion it needs to be completed soon!...

[SamInTheLoop]

There finally appears to be vertical progress on the new Modern Wing of the Art Institute - I can't wait to see how this addition shapes up...

[trvlr70]

Good news and more good news!

I still find it incredulous that Oprah didn't contribute and get naming rights to the museum.

[Mr Roboto]

The metropolis project sounds better and better. While gentrification may occur, in many respects this can be a good thing. More tax base, better schools, more jobs etc. I think this will go a long ways to start improving the area. I wonder how long it has been since a project of such magnitude has been proposed anywhere near this area, besides the cha projects themselves.

I have always thought they should refurbush one or two of both the robert taylor homes, and cabrini, like they did with Hilliard. While not architecturaly significant, they are socially. And should serve as a reminder of what was once there.

[Alliance]

Metropolis sounds great, depsite the cheesy name. Hopefully it works wonders.

I can't wait to see a render.

[trvlr70]

Metropolis sounds great, depsite the cheesy name. Hopefully it works wonders.

I can't wait to see a render.

The render has already been posted and it's quite spectacular.

[Marcu]

To win the crucial support of alderman Dorothy Tillman, Mr. Primo included a fountain in the design at her request and also will put in a technology center, giving area residents free access to computers and the Internet.

Gloria Dickson, who works at an animal shelter, lives across the street from the site and says she looks forward to having a new grocery store, since it currently takes her about 30 minutes to walk to the nearest one. But she worries the changes might bring gentrification. "I just hope that doesn't happen so that rents don't rise so high," she says. "I don't want to get pushed out of this area."


Way the go Dorthy. Require some extra costly ammenities. That won't make the near by rents rise too high at all. And we still wonder why there's an affordable housing shortage in this city. Seems like every project must first add a few million dollar ammenities and than chop off a few floors of units before getting approval.

[Mr Roboto]

^Yeah, that sounded kind of excessive, especially the fountain (even if it would add to the property's attractiveness for buyers). A free internet center is also a little much to ask for also; computers are not as expensive as they used to be, and many (such as myself) go through their childhood without one. But even if they are a necessity now, most should be able to buy one theirself, just like clothes or a tv.

[VivaLFuego]

The metropolis project sounds better and better. While gentrification may occur, in many respects this can be a good thing.

If gentrification is replacing what is basically the absence of anything (vacant land), how can it possibly be a bad thing?

And yes the development sounds exciting...but I think they will need much, much more residential density to bring in enough new moderate- to higher-income individuals to support all that retail.

[VivaLFuego]

^Yeah, that sounded kind of excessive, especially the fountain (even if it would add to the property's attractiveness for buyers). A free internet center is also a little much to ask for also; computers are not as expensive as they used to be, and many (such as myself) go through their childhood without one. But even if they are a necessity now, most should be able to buy one theirself, just like clothes or a tv.

Yeah, my blood pressure really spiked when I saw satellite dishes bolted on to the Cabrini-Green highrises. By all means people shouldn't be homeless, but at some point they need to be expected to provide things for their own quality of life...

[the urban politician]

There was a blurb in today's Sun-Times that Paul Harvey may be preparing to make a large contribution (or purchase naming rights) for the Museum of Broadcast Communications. Hopefully enough donations are on the way to get this project the cash infusion it needs to be completed soon!...

^ Great news! I hope it happens

[Chicago3rd]

Yeah, my blood pressure really spiked when I saw satellite dishes bolted on to the Cabrini-Green highrises. By all means people shouldn't be homeless, but at some point they need to be expected to provide things for their own quality of life...

Sort of confused...poor people cannot have tv? Cable or Satellite Dish? $60 for cable means they can afford to live without assistence? Just curious.

[Chicago3rd]

^Yeah, that sounded kind of excessive, especially the fountain (even if it would add to the property's attractiveness for buyers). A free internet center is also a little much to ask for also; computers are not as expensive as they used to be, and many (such as myself) go through their childhood without one. But even if they are a necessity now, most should be able to buy one theirself, just like clothes or a tv.

Most should? Please show us these "facts".

Note no one complained about the park we had the developer build over there in East Lake. I guess the rich deserve the park and the poor deserve no fountain? Also check into the computers per students in the richer neighborhood schools....and compare to the poorer areas of Chicago. So we have poorer kids with no computers at home or at school...verses richer kids with computers at school, home and probably their own pockets. No one can tell me the richer kids aren't going to have an easier time getting jobs when they grow up.

If the market could not have supported all these extra things...this development would/wouldn't be happening.

[VivaLFuego]

Sort of confused...poor people cannot have tv? Cable or Satellite Dish? $60 for cable means they can afford to live without assistence? Just curious.

If they can afford to pay for luxury items like satellite TV, why on earth should I be subsidizing their rent and housing expenses? The rest of us have to make sacrifices and live a lifestyle within our means, why shouldn't they? They should be evicted from subsidized housing immediately if they can afford luxuries like that. Hell, I don't like to pay rent bills either, can the government help me out? I don't really feel like pinching pennies by cutting back on luxury items either.

For the record (and more on topic to this development), I also do think having public computer labs and computer labs in public schools, especially in poorer areas, is a good thing. However, I also question the tactic of forcing a developer to include them in order to approve a development on otherwise completely underutilized land in a depressed area. That's bordering on extortion, it's not like the developer is requiring any sacrifices of the neighborhood or the alderman so it's hardly a trade at all, it's one way.

[Chicago3rd]

If they can afford to pay for luxury items like satellite TV, why on earth should I be subsidizing their rent and housing expenses? The rest of us have to make sacrifices and live a lifestyle within our means, why shouldn't they? They should be evicted from subsidized housing immediately if they can afford luxuries like that. Hell, I don't like to pay rent bills either, can the government help me out? I don't really feel like pinching pennies by cutting back on luxury items either.

For the record (and more on topic to this development), I also do think having public computer labs and computer labs in public schools, especially in poorer areas, is a good thing. However, I also question the tactic of forcing a developer to include them in order to approve a development on otherwise completely underutilized land in a depressed area. That's bordering on extortion, it's not like the developer is requiring any sacrifices of the neighborhood or the alderman so it's hardly a trade at all, it's one way.

And it isn't forcing. If the market cannot support it it will not be built.

I am so pleased with the 20% set asides too!!!!
Wow....:slob:

They go in. Go through a lengthy process...prove their income and the city says this is what we will pay and this is what you will pay. After that....they can do the fuck what they want with the money left over.

I am with you that is should only be on a needs bases....as well as a "responsiblility level"....like their new drug and work requirements. But I am not going to pass housing and think I know what is happening in there. Perhaps it is a person who cannot work ever.....guess they should just sit and poop in the toilet...because they didn't work for that cable box.

[Mr Roboto]

Most should? Please show us these "facts".

Note no one complained about the park we had the developer build over there in East Lake. I guess the rich deserve the park and the poor deserve no fountain? Also check into the computers per students in the richer neighborhood schools....and compare to the poorer areas of Chicago. So we have poorer kids with no computers at home or at school...verses richer kids with computers at school, home and probably their own pockets. No one can tell me the richer kids aren't going to have an easier time getting jobs when they grow up.

If the market could not have supported all these extra things...this development would/wouldn't be happening.


Dude, who are you telling?! You think I dont know rich kids have better oppurtunities?! Dont read too much into what Im saying.

They are a bit much to ask for is all i said, even though I do see benefits. I would much rather see the computers donated to a school, where they would probably serve more purpose. A fountain anywhere looks cool, but is always an excessive luxury IMO. To force a seemingly well-meaning developer, who already planned to improve the area with real substantial changes (inc. retail, jobs, etc.), to add this stuff seemed a bit pushy, specially concerning this particular alderman.

And yes, $300 is not that much. If you cant afford that, you likely have other concerns than simply getting a computer. The help you would need, should be much more substantial and for more important things.

[honte]

I have just heard through the grapevine that an incredible piece of Chicago Architecture is endangered. This is the Edward Dart-designed church at 1850 S. Racine Avenue in Pilsen, Emmanuel Presbyterian, 1967. It apparently has been sold to a greedy developer who wants to demolish the building.

This is really an amazing design and I am asking anyone who cares about Chicago architecture to please consider writing Alderman Danny Solis e-mail. It's not too late to save the building and come to a good compromise that potentially converts it to residential use or develops only the empty part of the site. Also, please feel free to forward this information.

Thank you!!

Alderman Daniel S. Solis

dsolis@cityofchicago.org


Office: 2439 S. Oakley Blvd
Chicago, IL 60608


Phone: 773-523-4100
Fax: 773- 523-9900

City Hall Office: 121 N. Lasalle St.
Room 203, Office 14
Chicago, IL 60602
City Hall Phone: 312-744-6845
312-742-9482

[aaron38]

News from the suburbs:
Updated renderings have been released for the redevelopment project of a block in downtown Palatine.
This one's going before the Plan Commission next week. If approved, I imagine they'd get started soon.
The early rendering didn't look like it'd be quality materials, but this larger one looks promising.

http://www.palatine.il.us/villagecouncil/district6/focus/Palatine%20Place%20Rendering.jpg
One of the things I like best is that the "photographer" for this rendering would be standing on the Metra tracks, and the station is half a block to the left, so this is another mixed use TOD.


The parking for the buildings is in the middle of the block, with a green roof forming a courtyard.
http://www.palatine.il.us/villagecouncil/district6/focus/Palatine%20Place%20Site%20Plan.jpg


And I had to show this one. The old folks in town all freaked out about the last big Palatine development because at a whopping 9 stories it was just way too tall. So the developer, Focus Development, made this to let everyone know this isn't a 'skyscraper'. After all "we're not Arlington Heights or anything".:uhh:
The old folks live in the 5 story Plum Grove Condos, I guess that's not too tall...

http://www.palatine.il.us/villagecouncil/district6/focus/Palatine%20Comparison%20Elevations.jpg

[Eventually...Chicago]

Hey...

I remember reading a few weeks ago that the old Morton salt building (the warehouse that you can see off the kennedy) was going to be turned into some kind of market or gallery or something...

Anyone know anything?

I don't think i am confusing this with Nicky Hilton's failed attempt at acting like a real person hotel

[SamInTheLoop]

This is one project that I've kind of lost track of recently (sorry if it was discussed recently and I missed it). I assume it has been topped-off by now...has anyone seen it recently? How is it turning out? I can't wait to see it's impact on the streetwall upon completion...

[honte]

^ It's beautiful. The curtain looks very sophisticated and not random, a bit to my surprise.

[Loopy]

Hey...

I remember reading a few weeks ago that the old Morton salt building (the warehouse that you can see off the kennedy) was going to be turned into some kind of market or gallery or something...

Anyone know anything?

I don't think i am confusing this with Nicky Hilton's failed attempt at acting like a real person hotel
Are you perhaps thinking about the Cooper Lamp Factory conversion into live/work space for "green" businesses?

http://www.greenoptions.com/files/images/Chicago%20Green%20Exchange.img_assist_custom.jpg

And yeah, too bad that Nicky O's fell through. Printers Row came so close to glory...

[museumparktom]

This is one project that I've kind of lost track of recently (sorry if it was discussed recently and I missed it). I assume it has been topped-off by now...has anyone seen it recently? How is it turning out? I can't wait to see it's impact on the streetwall upon completion...

This is from I_am_hydrogen over on SSC.
http://i97.photobucket.com/albums/l221/Mansmith_2006/spertusspdxp4.jpg

[Alliance]

:previous:

Excellent. This project is so small, but I think its great.