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Hayward
Dec 29, 2009, 5:05 AM
Just a quick noticing I wanted to point out, I really dislike those rows of flouresent lights, which do in fact look like a high school. At least recess it into the ceiling

spyguy
Jan 7, 2010, 9:28 PM
http://leisureblogs.chicagotribune.com/the_theater_loop/2010/01/-chicago-theater-2010-black-ensemble-teatro-zinzanni-steppenwolf-theater-wit.html

New theater spaces coming in '10
January 06, 2010
Chris Jones

Teatro ZinZanni:
...But according to Sheila Hughes, ZinZanni's executive director of new business, the nonprofit still plans to create a permanent operation in Chicago in 2010. Maybe in Block 37, maybe not. “We're hoping to be there this year,” Hughes said.

Hughes said she is negotiating with several downtown spaces, and that Block 37 was not yet off the table.

migueltorres
Jan 12, 2010, 7:15 PM
LED screens are up and running for the first 3 levels. They have an ad saying the movie theaters will open in 2010, and they are very descriptive about the amenities. Similar setup to the new Showplace Icon at the Roosevelt Collection

http://lh4.ggpht.com/_cvIpUKFCTaU/S0zJMkuxvHI/AAAAAAAAb3w/OgAX-hwSNeU/s800/block37led.jpg

Marcu
Jan 15, 2010, 10:03 PM
Went to the mall there the other day. The pedway/cta connect portion is the best part. Lots of what appear to be city and county employees strolling around due to the easy pedway connect. Once the stores are filled, hopefully the mall will at the very least draw some sales tax revenue for the city.

I think part of the problem is we had very high expectations for this space. We expected some Dubai-esque (pre-collapse) architecturally significant upscale destination, but we got a more compact and slightly more interesting version of a mall on the Vegas strip. I tried hard to judge the mall independent of my expectations for this space, and once I did, I actually found the design, particularly in relation to the pedway/cta connect, to be surprisingly effective. So I'll go against the tide and actually call the mall a success, assuming the store fronts get filled.

spyguy
Jan 15, 2010, 11:56 PM
LED screens are up and running for the first 3 levels. They have an ad

I wish they'd do something more creative with them than just simple advertisements. On another note, the mosaic tile benches are pretty cool, especially the one with the city grid.

a chicago bearcat
Jan 16, 2010, 3:52 AM
I'm right there with you Marcu. While this isn't a slam dunk, it is a hell of a lot better than an empty lot, and fulfills needs of the average Loop lunch break shopper. I just hope that it doesn't take away potential tenants from Sullivan Center. I don't think I need to explain why that would be unfortunate.

Nowhereman1280
Jan 16, 2010, 6:29 AM
^^^ The Lawyer I work for was downtown the other day to go to the Daley Center for court and she parked in the Millennium Garages and walked through the Pedway to get there. She loved what they did at B37 and said she would have stopped to check out the stores if more had been open. Hopefully many other lawyers and other high-earners will have similar thoughts and make this place a real success.

george
Jan 21, 2010, 2:57 AM
1-20-10

http://img264.imageshack.us/img264/1096/blk2.jpg

http://img264.imageshack.us/img264/7494/blk108.jpg

SamInTheLoop
Jan 21, 2010, 2:54 PM
The clock is ticking for Freed to find someone to sell this project to....if they don't, rest assured the bank will.........the property could be transferred to the receiver tomorrow........

If the new renegotiated deal with the ex-Muvico execs doesn't fly, some other options for an upscale movie theater could be Gold Class Cinemas, as I mentioned before, another Kerasotes Showplace Icon (Kerasotes just sold all but 3 of its theaters to AMC, and the group appears to be eager to expand its Icon concept as it remakes itself from its now very small base) - this is far enough from, and would serve a different enough market (and be only half the size at most) of their Roosevelt Collection location, so it would work with very minimal cannibalization I believe, and a third option could be the Robert Redford Sundance cinemas concept, now that the planned West Loop/near west side location would appear to be a very long shot at absolute best (read: that entire project, in my view, is now likely not happening)....hopefully a movie theater can open in the 4th floor space before the end of the year...as most retail segments are still doing mediocre at best, and many continue to struggle, the box office is doing pretty well, having a very solid '09 and off to a strong start in '10....I would think that the upscale/added amenities and food niche of the market is doing even better still, so prospects for a movie theater success at block 37 are still good, assuming the ownership situation is sorted out successfully in the near future...

spyguy
Jan 22, 2010, 9:24 PM
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=36828

Receiver taking over Block 37 mall today
By Eddie Baeb, Jan. 22, 2010

A court-appointed receiver is taking over Block 37.

More than two months after a judge moved to replace developer Joseph Freed & Associates LLC at the new State Street mall, the keys officially changed hands Friday.

george
Jan 25, 2010, 3:18 PM
1-24-10

http://img682.imageshack.us/img682/1838/b373.jpg

http://img682.imageshack.us/img682/5400/b372.jpg

http://img682.imageshack.us/img682/6836/b375.jpg

http://img694.imageshack.us/img694/1554/blk374.jpg

http://img682.imageshack.us/img682/6452/b376.jpg

http://img16.imageshack.us/img16/1554/blk374.jpg

http://img682.imageshack.us/img682/1018/b371.jpg

SkokieSwift
Jan 26, 2010, 5:45 AM
http://lh4.ggpht.com/_cvIpUKFCTaU/S0zJMkuxvHI/AAAAAAAAb3w/OgAX-hwSNeU/s800/block37led.jpg


http://img682.imageshack.us/img682/6836/b375.jpg


Are those the missing pieces from the half-baked screen on Dearborn?

But seriously, are those LEDs curved, or is it just the lens?

StatenIslander237
Jan 26, 2010, 9:55 AM
OK. Again. Does anyone want to tell me what is really so bad about this project? Now that the pedway is open and retailers are filling the building, thus giving it animation, it looks like a perfectly reputable complex. Just because it didn't impress going up doesn't mean it's a failure of a project.

migueltorres
Jan 26, 2010, 4:31 PM
But seriously, are those LEDs curved, or is it just the lens?

I believe they are slightly curved to conform to the shape of the wall. I'll try to head out there later today to take some more pics

Nowhereman1280
Jan 26, 2010, 5:07 PM
^^^ Yes they are curved. Remember they are LED's not LCD, so its the same type of screen as the twisted one outside of the newsstation on State.

simcityaustin
Jan 27, 2010, 3:49 PM
As the puzzle pieces are slowly put together I am having more and more hope. Puma and Zara did nice jobs with their outdoor displays. It's nice to see a building with a bright, somewhat flashy exterior yet not be tacky or uninspired. The mishmash of designs is slowly coming together, and I think it will all hinge on the rest of the stores that decide to locate here. It's a shame Apple pulled out. Maybe Microsoft could open one of their new concept stores here.

SamInTheLoop
Jan 27, 2010, 4:07 PM
^ Much agreed. I think a lot of the criticism of the project's results have a lot to do with pretty unrealistic expectations - I for one gave up any dreams long ago that this block would turn into some sort of top-notch architectural vision (even the original Ralph Johnson design, while in my opinion certainly better than what we ultimately got and I wish it would have been better received and worked with by the at the time sorry excuse for a developer, was not a cutting edge game changer). The end-project is solid, workable for its intention and could still ultimately be a strong success (let's also remember this project might be only half-complete from an above-ground perspective - we still have a residential and hotel component coming - this will happen, as economics will ensure this - whomever ends up developing this future tower will do so at a very attractively low cost basis - this is baked in the cake and will guarantee the motivation for its development is there - when it happens is a different story although my bet would be it is completed by 2015 or so). However, you hit the nail on the head - the success of the retail component hinges on the successful lease-up of the +/- 50% of the space that is still unspoken for - this is going to be a challenge, not an insurmountable one - but still a significant challenge. Most importantly, it needs to happen quickly - very quickly unfortunately, as retail projects are very fickle, and they can often quickly fall into a death spiral if the conditions are there - an overwhelmingly empty center is a definite condition to watch out for in this regard. I can not stress enough that we need a quick resolution to the ownership situation, and whomever the owner is, needs to have a large amount of equity in the project because it is absolutely capital-starved.....its going to take a lot of money to successfully complete the project and lease it up, and in my view it needs to happen this year or it's at grave risk for outright failure...

spyguy
Jan 29, 2010, 10:03 PM
http://blogs.vocalo.org/dolinsky/2010/01/lettuce-consider-our-options-a-chat-with-rich-melman/13457

Lettuce Consider Our Options: A chat with Rich Melman
by Steve Dolinsky

...“Our project is three-quarters of the way finished,” said Melman, referring to the Foodlife-like concept that was slated to launch this month, next to a theater that never materialized. “It’s an important part of the project…and Larry Freed is still working on the funding. We haven’t met with anyone yet to discuss it.”

...“We were going to tie-in to a dinner theater concept there, but this has turned the whole project sideways,” said Melman. “Oddly enough, we’ve had three different times in the last year, where developers had to put the project on hold. There are opportunites out there, but it’s a different time right now.”
---

http://www.friendsofdowntown.com/?events

And Finally, the Good News about Block 37
Thursday, February 4th 2010 at 12.15 pm
Chicago Cultural Center | Millennium Room

Paul Fitzpatrick and Joey Carr of Joseph Freed and Associates LLC (JFA) will report on the current status of the downtown mixed-use project known as Block 37. JFA purchased the project from The Mills Corporation in early 2007 and has been leasing the project while completing construction.

As of October 15, 2009, the Pedway and certain street level retailers, including PUMA, Zara, Anthropologie, Steve Madden and Swarovski were due to open in November, 2009. The project will continue its leasing and as additional retailers complete their build outs, they will open, with the project projected to be completed by December, 2010.

J_M_Tungsten
Jan 30, 2010, 12:37 AM
I finally went to block 37 last weekend, and I really enjoyed it. It is pretty empty right now, but the layout is nice and I can see it becoming a popular spot to stop in for tourist.

Xing
Jan 30, 2010, 12:52 AM
I use to live in the dorms on State and Randolph. If I had all of that close to me when I was in college, it would have been really nice. I can't believe how much that area has changed in 5 years, or how much Chicago has changed, for that matter.

The North One
Jan 30, 2010, 1:33 AM
WOW, chicago really makes the best high end malls!

and its really nice to see this in the loop and not on Michigan AVE.

spyguy
Feb 6, 2010, 9:31 PM
In response to a question about when Bleeding Heart Bakery would open:
@lkremenak Block 37 is now owned by Bank of America, they won it from JFreed in court and have not contacted any Leesors. We have no clue
BleedingHeart/ Twitter (http://twitter.com/Bleeding_Heart/statuses/8521124692)

---
30 Things You Don't Know About Block37 (http://blog.chicagoarchitecture.info/2010/02/30-things-you-dont-know-about-block37.html)

Not a whole lot of new information from that Friends of Downtown meeting. Just that when the hotel and residential towers move forward, they'll have to be constructed together. Once that phase is complete, they'll finish the rooftop park.
---

And just for fun:

Daley: Loop Superstation Still Necessary (http://www.wbez.org/Content.aspx?audioID=39803)

shaberko
Feb 8, 2010, 5:17 PM
Thoughts?:

http://farm5.static.flickr.com/4032/4331926424_db669f0169_b_d.jpg
From i3oilermaker on flickr

intrepidDesign
Feb 8, 2010, 10:26 PM
Thoughts?:

http://farm5.static.flickr.com/4032/4331926424_db669f0169_b_d.jpg
From i3oilermaker on flickr

I like the way this looks with some dramatic lighting on it. During the day it's whatever, fine. This looks nice though. I still wish they would light it from within, i.e. up and down lighting from the parts that jut out further than the rest, could be cool. :tup:

Tom Servo
Feb 9, 2010, 4:01 AM
i can't stand those stupid metal areas. i feel like those areas should be used for billboards and some lighted signs.

http://freshlyeducatedmen.files.wordpress.com/2009/07/dundas-sq.jpg

those metal panels seem so arbitrary and like a silly and waste of money and opportunity for ad revenue. :shrug: no?

StatenIslander237
Feb 9, 2010, 4:40 AM
I like the way this looks with some dramatic lighting on it. During the day it's whatever, fine. This looks nice though. I still wish they would light it from within, i.e. up and down lighting from the parts that jut out further than the rest, could be cool. :tup:

YES! :tup: I like it too, it looks vaguely Times Square-y. Oh wait...is that what Chicago's theater district was going for??? HMMMM?????? ;)

a chicago bearcat
Feb 9, 2010, 7:24 AM
I've been genuinely surprised at their success on the Randolph side. Creating abstract shifting shades of reflected neon actually works in this instance, and is a lot better than a cacophony of advertisements in my opinion. I'm for activating facades with human activity wherever possible, and while this does not achieve that, I'm satisfied.

Sucks to hear about the rooftop having to wait until the hotel and residential component is completed. I'm looking forward to a photo from the Joffrey building looking towards a celebration in Daley Plaza, with rooftop green space and onlookers leaning over a railing, in the foreground, watching the crowd surrounding the Picasso.

intrepidDesign
Feb 9, 2010, 1:46 PM
YES! :tup: I like it too, it looks vaguely Times Square-y. Oh wait...is that what Chicago's theater district was going for??? HMMMM?????? ;)

I think it would resemble Time Square a lot more if the building was saturated with advertising like AdrianXSands suggests. If they can't even finish the CBS street screen, having all that be screen seems a bit far fetched. Another way to look at this is it's an 'eco friendly' solution. Instead of using electricity to create visual interest, it reuses reflected light which doesn't cost a cent.

Yeah, B37 could have been more architecturally ambitious, but looking forward, there are still very important aspects to the development that will have the final say as to whether or not it's a success. The superstation being paramount, and the hotel/green roof next, IMO.

torsodog
Feb 9, 2010, 4:07 PM
i can't stand those stupid metal areas. i feel like those areas should be used for billboards and some lighted signs.

http://freshlyeducatedmen.files.wordpress.com/2009/07/dundas-sq.jpg

those metal panels seem so arbitrary and like a silly and waste of money and opportunity for ad revenue. :shrug: no?

Ew, really? I really would NOT want to see State St. facades plastered with ads. And with Block 37 right across the street from the Marshall Fields building, I think that would be an atrocious juxtaposition. Plus, with there being no large open square or courtyard in front of the facade as in the example picture you provided, the area really doesn't lend itself to ad-space.

VivaLFuego
Feb 9, 2010, 6:59 PM
Besides, Dundas Square and the many East Asian facsimiles of Times Square are just incredibly contrived and forced, while Times Square itself is reaching a point of complete self-reference bordering on self-parody. I'd rather Chicago not sink to that level - that we even have "Broadway in Chicago" is already bad enough!

A public convergence in an awe-inspiring space of unlimited visual interest... we've already got Cloud Gate at Millenium Park. We don't need to rip some other place's concept off and try to force its application here.

Tom In Chicago
Feb 9, 2010, 8:16 PM
i can't stand those stupid metal areas. i feel like those areas should be used for billboards and some lighted signs.

http://freshlyeducatedmen.files.wordpress.com/2009/07/dundas-sq.jpg

That's just awful!!!

. . .

nomarandlee
Feb 10, 2010, 12:23 PM
Ew, really? I really would NOT want to see State St. facades plastered with ads. And with Block 37 right across the street from the Marshall Fields building, I think that would be an atrocious juxtaposition. Plus, with there being no large open square or courtyard in front of the facade as in the example picture you provided, the area really doesn't lend itself to ad-space.

I agree. While I don't mind Dundas Square or may even like it a bit I don't think digital ads would have been right in the middle of the Loop. I wouldn't mind ever bolder theatre signage though. The Loop really isn't all that large and having a Dundas Square would risk overwhelming what should continue to feel as the business/civic hub as opposed to a blinding central light show. MFB, Daley Center, City Hall, and Burnham Hotel all deserve an understated and respectful neighbor. I still think the metal ribbons look a bit awkward but I think mood lighting was probably the right call as opposed to loud digi ad screens.

If there is any downtown district should take up that role in Chicago it would be better to be in the periphery around say River North or the West Loop around Union Station/OPO depending on future development.

Chicago Shawn
Feb 11, 2010, 7:16 PM
YES! :tup: I like it too, it looks vaguely Times Square-y. Oh wait...is that what Chicago's theater district was going for??? HMMMM?????? ;)

That is what Randolph Street used to look like back in the day, lots of electric signage.

Not the best photo of it, but it provides a glimpse of what used to be..
http://memory.loc.gov/ndlpcoop/ichicdn/n0752/n075286.jpg
Chicago Daley News, 1922. Library of Congress. http://memory.loc.gov/cgi-bin/query/D?cdn:2:./temp/~ammem_aBGY::

Deepstar
Feb 11, 2010, 7:45 PM
Thoughts?:

http://farm5.static.flickr.com/4032/4331926424_db669f0169_b_d.jpg
From i3oilermaker on flickr

Pretty cool IMO.

cbotnyse
Feb 12, 2010, 12:35 AM
That's just awful!!!

. . .do you think Times Square is awful? I think it adds vibrancy, character and most importantly revenue for a bankrupt project.

J_M_Tungsten
Feb 14, 2010, 8:09 PM
Today

Busy afternoon of shopping at block 37...

http://i592.photobucket.com/albums/tt1/JMTUNGSTEN/1761deb8.jpg

torsodog
Feb 15, 2010, 10:08 PM
Considering there's no stores in that area, what exactly were you expecting? People to be walking around looking at the bare plywood walls?

J_M_Tungsten
Feb 16, 2010, 3:35 AM
Yes... Trust me, I could have taken the same picture on the first floor. Its nice there, just definitely needs more stores though.

Deepstar
Feb 17, 2010, 7:13 PM
Nice looking project.

Is this building still u/c? It looks like it's done or pretty close to it.

sammyg
Feb 18, 2010, 3:03 AM
Is this building still u/c? It looks like it's done or pretty close to it.

Only parts of the first 2 floors are done - from State Street you can see that Bigsby and Kruthers is still framing the interior walls, nothing else has been done in there, and that's still the 2nd floor. The area for the movie theaters is the same way - not even floors or ceilings yet.

a chicago bearcat
Feb 19, 2010, 5:37 AM
do you think Times Square is awful? I think it adds vibrancy, character and most importantly revenue for a bankrupt project.

yes, times square was awful.

It was an amazingly unpleasant space to be anything other than a consumer. Now with the creation of the pedestrianized broadway sections, there is more of a true square-like opening of usable pedestrian space. Times Square is perceived as a good space to people who visit it for the short time associated with visiting a city, not living there. Working just north of it for 3 months, I learned to avoid it.

The "character" created by advertisements are just the projected corporate image of the advertisers. To add vibrancy to a facade with signage for stores, theatres, and news studios creates a more active streetscape which reflects the actual uses that contribute to the character of an area. We already have that in spades in this section of Randolph and State.

Tom In Chicago
Feb 19, 2010, 5:05 PM
do you think Times Square is awful? I think it adds vibrancy, character and most importantly revenue for a bankrupt project.

I wasn't commenting on Times Square. . .

. . .

Nowhereman1280
Feb 19, 2010, 5:14 PM
Yeah, who actually thinks that Times Square is a wonderful place? I mean I went there once and it was neat to see a bunch of lights, but really its novelty was short. I see no need to replicate that here. Chicago should do what it does best and continue offering the culture and big-city benefits of New York combined with being a much more pleasant place to live (cleaner, less crowded, better planned, having alleys so the garbage isn't just piled on the street)...

Deepstar
Feb 22, 2010, 9:54 PM
Only parts of the first 2 floors are done - from State Street you can see that Bigsby and Kruthers is still framing the interior walls, nothing else has been done in there, and that's still the 2nd floor. The area for the movie theaters is the same way - not even floors or ceilings yet.

Thanks!

spyguy
Feb 27, 2010, 10:36 PM
1. Sephora opens on the 6th
2. It looks like Andy's Frozen Custard will open in the pedway (Crain's mentioned they were looking for a Loop location) and Canadian retailer BEDO will take lululemon's spot next to Steven Madden.
3. I didn't know they were trying for a bar on the second floor between the ComEd substation and 22 W Washington. Hopefully there will be decent views of the Picasso.
4. Curiously enough, the spaces for Rosa Mexicano and Bigsby & Kruthers are still for lease even though both are mentioned on the B37 website. Read into that what you will.

ardecila
Feb 28, 2010, 1:58 AM
Bigsby & Kruthers was always kind of iffy. It already died once, so the chances of its resurrection were slim. More surprised about Rosa Mexicano, which seems to be quite successful at all of their locations, or at least the ones I've seen (Lincoln Center, DC, Atlanta). On the other hand, they announced their intentions to open in Block 37 years ago. It may have gone into limbo.

cbotnyse
Mar 1, 2010, 1:54 AM
yes, times square was awful.

It was an amazingly unpleasant space to be anything other than a consumer. yeah and guess who visits State St? consumers. And I wouldnt call Times Square "amazingly unpleasant". I'd describe it as quite the opposite.

Times Square is perceived as a good space to people who visit it for the short time associated with visiting a city, not living there. Working just north of it for 3 months, I learned to avoid it.and how is B37 not similar to what you describe? You act as if its sits in a residential neighborhood. :shrug:

I wasn't commenting on Times Square. . .

. . .I'm aware of that. I was asking you a question.

cbotnyse
Mar 1, 2010, 1:57 AM
Yeah, who actually thinks that Times Square is a wonderful place?yeah I do.

Chicago should do what it does best and continue offering the culture and big-city benefits of New York combined with being a much more pleasant place to live (cleaner, less crowded, better planned, having alleys so the garbage isn't just piled on the street)...yeah because B37 really adds to all that. :rolleyes: Its nothing more that uninspiring architecture, cookie cutter stores and completely forgettable to any visitor or resident.

ardecila
Mar 1, 2010, 2:01 AM
and how is B37 not similar to what you describe? You act as if its sits in a residential neighborhood. :shrug:

It's not in a residential neighborhood, but State Street retail is far more targeted at Chicagoans than tourists. Especially now that Field's is Macy's, there's really not much on State Street to attract tourists beside the theaters. The premier shopping is elsewhere, on Michigan Avenue or Oak. State Street is basically Chicago's main street, so it's a gathering place for locals.

I think if Block 37 was successful with its leasing, it would become quite a destination for Chicagoans to go shopping. Of course, with its food court, it would also become a destination for tour groups and such...

Nowhereman1280
Mar 1, 2010, 3:18 AM
yeah I do.

yeah because B37 really adds to all that. :rolleyes: Its nothing more that uninspiring architecture, cookie cutter stores and completely forgettable to any visitor or resident.

I wouldn't exactly call B37 uninspiring, its pretty damn good infill all things considered. But this is exactly what I am talking about, I don't think Chicago needs a replicate tourist trap like Times Square here. I think Chicago needs a place that Chicagoans can frequent and use. Remember this is right next to the center of Civic life in Chicago; Daley Plaza. This isn't a place we should cede to the tourists in order to make a quick buck, this is a place that should be useful to the hundreds of thousands of Chicagoans who travel through the area every day. So in my opinion the architecture doesn't even need to be anything groundbreaking and awe inspiring, it needs to be something that handily heals the giant rip in the urban fabric that was the empty B37.

Times square really doesn't contribute anything to the average New Yorker, it doesn't improve quality of life (in my opinion it detracts from it) and is only good as a tourist trap. Chicago is much more a city to live in than a city to visit, and personally I think that is special and a trait worth preserving.

cbotnyse
Mar 1, 2010, 3:23 AM
I live 2 blocks from B37 and I'll never go there. Photography is a passion of mine and I've never shoot it. Its a forgettable, largely useless development for both residents and visitors.

the urban politician
Mar 1, 2010, 3:40 AM
yeah I do.
.

(regarding Times Square)

^ Having lived in New York for 3 years I can tell you that Times Square may be nice to visit to see the fun and the action, but somewhere after about the 10th or 12th visit it really starts to become stale, obnoxious, and annoying.

Now if I were a visitor I wouldn't care, but if I had to live there I'd want something that is worth spending time at, perhaps for years--think Bryant Park and (still) Union Square.

In the case of Chicago, I can't begin to tell you just how rotten of an idea it would be to try to replicate Times Square at Block 37. Chicago has a certain understatement and class that it should stick to, and it doesn't have to resort to bawdy, flashy displays to make itself worthwhile. Great design is one thing, but lighted billboards all over the place? That's not Chicago, that's Chicago trying very hard to be New York.

Nowhereman1280
Mar 1, 2010, 4:48 AM
I live 2 blocks from B37 and I'll never go there. Photography is a passion of mine and I've never shot it. Its a forgettable, largely useless development for both residents and visitors.

Ok, but I just said that I know its not notable architecture and don't care because it doesn't have to be to be successful. So why is your aversion to photographing it relevant?

I live on the north side of Chicago and have at least passed through B37 at least 10 times since its opened and I don't even work downtown. I suspect that the vast majority of people who use B37 are not going to be neighbors or people who live right downtown (who are almost exclusively upper class) but rather common people from the neighborhoods who work downtown or come downtown to shop on the weekends. The attorney that I work for has stopped in the pedway level for food several times after its opened because its ultra convenient when she is walking from the park garages to the Daley center for court. This building is just too central to the city to fail in its purpose as a retail node for the actual working population of the city. Why would we cede the space that is essentially at the heart of the daily lives of millions of Chicagoans to tourists who only show up on holidays and weekends?

However the majority of the stores are not even open yet so there is no way any of us can actually judge its success though I speculate that it will do exactly what it has to; fill a void in the urban fabric with a productive and positive use.

cbotnyse
Mar 1, 2010, 12:32 PM
In the case of Chicago, I can't begin to tell you just how rotten of an idea it would be to try to replicate Times Square at Block 37. Chicago has a certain understatement and class that it should stick to, and it doesn't have to resort to bawdy, flashy displays to make itself worthwhile. Great design is one thing, but lighted billboards all over the place? That's not Chicago, that's Chicago trying very hard to be New York.I'm not saying replicate Times Square, but my point is B37 could have been something people will remember and go back to. As a resident of the area B37 adds nothing more than a few more shops that I might stop by once a year, nothing more. Honestly, walking down State St, I am bored to death walking past this development. Yes I realize its not fully open, but it doesnt matter. When you walk through Times Square you feel vibrancy, like you are in the true heart of the city. The location of B37 is the heart of our city and if thats our representation of understatement and class, excuse me while I take a nap.

Ch.G, Ch.G
Mar 1, 2010, 4:01 PM
I agree with cbot inasmuch as its absolutely banal, which wouldn't be so offensive if it weren't surrounded by architectural treasures. The site deserved something much better, even if that something were the division into and selling off of parcels to the highest bitters. At least then the block would have developed by accumulation and, presumably, more heterogeneously, which, IMO, is much more fitting for such an urban location.

The government has a place, certainly, but in parks, streets, stations-- the public realm. It should stay away from these types of large scale interventions into the private one.

spyguy
Mar 2, 2010, 6:40 AM
I live 2 blocks from B37 and I'll never go there. Photography is a passion of mine and I've never shoot it. Its a forgettable, largely useless development for both residents and visitors.

At this point I don't know how anyone can make a judgment like this. The mall portion is only about 50% leased at this point - of that, only half is up and running. The entertainment and restaurant portions have not yet been finalized, the hotel and residential towers haven't been built, the public green space is still to come, and if we're lucky some day the airport express idea will become a reality. I would think that at least one of these features would appeal to nearby office workers, visitors, or residents. At least the pedway reopened.

Really, what is Times Square? The architecture isn't very good except for maybe the old theaters, otherwise it's just tall glass towers. The restaurants and stores are almost all national chains. The rest is just billboards and people watching. I assume there are restrictions on signage on Michigan and State otherwise other stores would surely already have loud, obnoxious signs (didn't Macy's try for a neon sign?), so that's a moot point. And I would hope that the stores, and especially the theaters, help increase activity at night.

lawfin
Mar 2, 2010, 7:31 AM
i can't stand those stupid metal areas. i feel like those areas should be used for billboards and some lighted signs.

http://freshlyeducatedmen.files.wordpress.com/2009/07/dundas-sq.jpg

those metal panels seem so arbitrary and like a silly and waste of money and opportunity for ad revenue. :shrug: no?

It is a comment on our age when some of us mistake garish advertisement for successful design

a chicago bearcat
Mar 2, 2010, 11:27 AM
yeah and guess who visits State St? consumers. And I wouldnt call Times Square "amazingly unpleasant". I'd describe it as quite the opposite.

just to clarify, I didn't mean consumers as synonym for customers or residents or shoppers

I meant the consumer culture that defines our current tourist economy. It's not based on anything unique, and what is unique has been degraded to a photo op, a souvenir and moving on your way. The advertisement isn't something that causes activity in the street, it is just visual clutter.

State street has more customers, window shoppers, and Chicagoans than Navy Pier, where almost everything is an experience to be consumed and discarded. Navy Pier, like Times Square is a place with a lot of nothing going on. It gets old hat, and while there are some aspects of both places that I find intriguing and beautiful, but it's hard to get past the nothing to find and appreciate them.

This building is still better than Water Tower Place in its capacity to become a contributor to the street, so lets just hope that it functions like that 10 years down the road.

Nowhereman1280
Mar 2, 2010, 5:12 PM
A
Really, what is Times Square? The architecture isn't very good except for maybe the old theaters, otherwise it's just tall glass towers. The restaurants and stores are almost all national chains.

Exactly the point I've been trying to make. On top of the fact that most chains are national there, any that aren't national are just hole in the wall souvenir stands that sell ludicrously over priced zinc statues of the ESB and Statue of Liberty. How is that not "largely useless" Cbotnyse?

Could the design of B37 have been better? Obviously. Is the design as it is now "largely useless" hell no. Seriously though Cbotnyse, explain to me what you mean by that and present some sort of evidence showing how a huge mall with a pedway and office tower and future hotel and residential towers is "largely useless". Is Water Tower Place "largely useless"? Is 900 N Michigan "largely useless"?

jdcpamba
Mar 2, 2010, 5:37 PM
"I live 2 blocks from B37 and I'll never go there. Photography is a passion of mine and I've never shoot it. Its a forgettable, largely useless development for both residents and visitors."

I also live two blocks from Block 37 and have been there a few times. I would hardly say that the property is useless for residents and visitors. I would be there a lot more if they would have finished the Muvico. Being able to walk to a movie theater versus taking a cab would be a big plus to local residents. Further, having a large theater on the 4th floor would help draw in a lot of foot traffic and new tenants in my opinion.

VivaLFuego
Mar 2, 2010, 5:59 PM
A movie theater in the base and a hotel tower above would do wonders for the vitality of the project.

The new theater at Roosevelt Collection is going gangbusters with traffic. There is ample demand to support a downtown multiplex if they could work out the red tape contractual issues and developer financing issues that made the deal with Muvico go into a holding pattern.

cbotnyse
Mar 3, 2010, 1:52 AM
Exactly the point I've been trying to make. On top of the fact that most chains are national there, any that aren't national are just hole in the wall souvenir stands that sell ludicrously over priced zinc statues of the ESB and Statue of Liberty. How is that not "largely useless" Cbotnyse?

Could the design of B37 have been better? Obviously. Is the design as it is now "largely useless" hell no. Seriously though Cbotnyse, explain to me what you mean by that and present some sort of evidence showing how a huge mall with a pedway and office tower and future hotel and residential towers is "largely useless". Is Water Tower Place "largely useless"? Is 900 N Michigan "largely useless"?what evidence do you want besides me telling you I'll never have a need to go there? You cant claim the development is a success just because they built something. There is nothing unique about the content of the mall, a theater is nice, but not largely needed. River North, Streeterville and south loop residents all have a theater they can go to. The office and hotel are all well and good, but I think this site deserved something more. Something unique in the way of urban design and architecture. Anything to make it less forgettable.

Something like a dow jones news ticker, or a statue like the Prometheus at Rockefeller Center, or some kind of urban art, or a futuristic video screen. oh thats right, they already f'ed that up on the west side of the building. :rolleyes: Hell, how about a statue of Daniel Burnham!

I'm just disappointed the design isnt move inviting, there is nothing that draws you in. Its just there.

GregBear24
Mar 3, 2010, 7:12 AM
^ Not to mention the CTA is more than $250 million in the hole from the underground project. It's insane the costs associated with developing anything for public use in this city.

This project just shocks me because for so many years everyone has talked about developing block 37, and I thought after waiting so long there would be something to be proud of here. This is the last place in chicago you would take a friend or relative from out of town, and it's in the heart of the city- that's disappointing to say the least. A park- although I'd rather have great development- would've at least been better, more useful, and not cause the cta to cut service to people who need it due to the loss they took on this thing. An outdoor movie theater would've been a better use of tax dollars than a white elephant cta station that'll never get funding to be completed and be used by high speed rail that won't ever happen.

spyguy
Mar 3, 2010, 2:06 PM
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=37298

Block 37 receiver in talks with Muvico
By Eddie Baeb, March 03, 2010

The receiver running Block 37 has approached Muvico in hopes of salvaging a deal for the upscale movie theater, while another high-profile prospect, burlesque-style dinner theater Teatro ZinZanni, is now looking elsewhere.

...obtained lease proposals from two additional retailers: the Disney Store and Italian restaurant chain Vapiano.

shaberko
Mar 3, 2010, 2:38 PM
"The CEO of Vapiano’s U.S. arm says he was told he was prevented from locating at Block 37 because of the mall’s lease with Lettuce Entertain You Enterprises Inc., which has been working to operate a food court and restaurant on the mall’s third floor. Construction of that space has been halted.

"Ms. Hollan, the court-appointed receiver who took over the project in January, declines to comment, says a local CB Richard Ellis spokeswoman."


What a mess! The curse lives. :yuck:

left of center
Mar 4, 2010, 5:14 AM
holy crap, this project just doesnt want to get completed, does it? too many disturbed indian graves must lie underneath the foundation...

Busy Bee
Mar 4, 2010, 4:51 PM
...would've been a better use of tax dollars than a white elephant cta station that'll never get funding to be completed and be used by high speed rail that won't ever happen.

A high speed airport train will happen—it just won't run on the blue line and won't use this B37 station. Essentially, the CTA just dropped 250 mill on a mid-Loop Blue Line-Red Line crossover track, that passes thru a big concrete shell.

The notion of an express airport train running on the blue line was silly to begin with. All the obstacles of the L structure lack of express track to limited space on the Kennedy median for passing tracks... it seems any person with some sense and a propensity to envision things, let a lone a qualified transport planner, could tell that a blue line express train would never be a successful operation. It would have been no more an express train than when they had the train-to-the-plane in NYC. Its still just a subway train—its not getting you to and from the airport in 10 minutes like so many other global cities seem to be able to. The solution is a EMU trainset running on a course of dedicated track paralleling or branching off of Metra UP-NW or MD-W through Elmwood Park or somehow median run out of O'Hare and fly onto UP-NW or MD-N around Jeff. Park.

nomarandlee
Mar 4, 2010, 5:03 PM
:previous: Do you think eventually the alternative of the Union Station --> NCS line --> O'Hare will come to fruition or you thinking something else?

VivaLFuego
Mar 4, 2010, 7:09 PM
Interestingly, an airport service that had remote check-in, baggage tagging, and some integration with local hotels (i.e. to deal with van transportation to/from B37) could support itself operationally, but there's still the question of where the capital dollars for the facilities could possibly come from.

Busy Bee
Mar 4, 2010, 8:07 PM
nomarandlee, I'd like to think so. We are talking 10 years out minimum, but in 2000 could you even imagine what we'd see in 2010? A lot can happen in 10 years with political will and a nice purse of split infrastructure bonds/USDOT $.

ardecila
Mar 4, 2010, 8:43 PM
What DO we see in 2010 that was unimaginable in 2000? There's a new Pink Line, but it added virtually no new tracks. The Brown Line has... nicer stations?

There seems to be solid political backing for 110mph HSR service, but I remember the St. Louis line being discussed 12 or 13 years ago. It seemed like a done deal then, too. I'll believe it when I see it.

Busy Bee
Mar 4, 2010, 9:17 PM
^I wasn't speaking transport specific. It was more in terms of urban development and rejuvenation in Chicago—not to mention our climb towards world class city status through a number of economic(tourism, finance, real estate) and cultural(Olympic, albeit failed, bid, Obama, etc.) factors.

ardecila
Mar 5, 2010, 12:49 AM
Oh. Well, you specifically mentioned infrastructure bonds and USDOT grants, what was I supposed to think? Yes, the city has changed greatly since 2000, obviously.

ChicagoChicago
Mar 5, 2010, 4:44 AM
Interestingly, an airport service that had remote check-in, baggage tagging, and some integration with local hotels (i.e. to deal with van transportation to/from B37) could support itself operationally, but there's still the question of where the capital dollars for the facilities could possibly come from.
A hotel in the loop directly off of an airport shuttle that can run 70mph would take about 15 minutes to get to O'Hare. If the TSA gives the ability to remote check-in, you're talking about a whole other level of people that would consider the service and certainly hotels would be willing to pay for the convenience.

a chicago bearcat
Mar 5, 2010, 4:46 AM
god Chicago is sounding like every other midwestern city that b*tche$ about everything, even when something is going in the right direction.

What is the deal? We're still a world class city, and we finally filled a hole in our urban fabric. We are close to finishing a restoration of a Louis Sullivan masterpiece (whose office space is 80% leased), our Beaux Arts former hospital is being saved AND redeveloped, just to name a few bright spots.

Don't let the slow development of this project get our hopes down. It is still renting retail space in a recession (or a "jobless" recovery).

So I'm with busy bee.

Although after the last few Daley fiasco's I'd like to see a change at the top.

george
Mar 19, 2010, 10:31 PM
3-19-10

http://img534.imageshack.us/img534/4598/blk371d.jpg

spyguy
Mar 19, 2010, 11:32 PM
http://img87.imageshack.us/img87/9463/p1010657.jpg
http://img12.imageshack.us/img12/2446/p1010663m.jpg
http://img146.imageshack.us/img146/8567/p1010660y.jpg
http://img404.imageshack.us/img404/4572/p1010659r.jpg
http://img502.imageshack.us/img502/3585/p1010670.jpg
http://img444.imageshack.us/img444/8190/p1010667.jpg
http://img246.imageshack.us/img246/1477/p1010669p.jpg
The best seat in town

J_M_Tungsten
Mar 20, 2010, 1:21 PM
http://img246.imageshack.us/img246/1477/p1010669p.jpg


I wish they would have finished the screens as it was originally planned, then it definitely would have been the best seat in town! :)

george
Mar 21, 2010, 1:43 PM
3-19

http://img299.imageshack.us/img299/2429/blk372.jpg

http://img299.imageshack.us/img299/8670/blk373.jpg

left of center
Mar 22, 2010, 1:43 AM
http://img246.imageshack.us/img246/1477/p1010669p.jpg
The best seat in town

so.... is this the end product from CBS? i know that they've reduced the original size of the screen and all, but do they plan on covering up the empty space with something? or do they plan to keep the exposed pipes and junction boxes out in the open in such a high profile intersection?

SamInTheLoop
Mar 25, 2010, 1:23 PM
1. Sephora opens on the 6th
2. It looks like Andy's Frozen Custard will open in the pedway (Crain's mentioned they were looking for a Loop location) and Canadian retailer BEDO will take lululemon's spot next to Steven Madden.
3. I didn't know they were trying for a bar on the second floor between the ComEd substation and 22 W Washington. Hopefully there will be decent views of the Picasso.
4. Curiously enough, the spaces for Rosa Mexicano and Bigsby & Kruthers are still for lease even though both are mentioned on the B37 website. Read into that what you will.


Regarding Bigsby & Kruthers: I noticed recently their sign on the second floor has been removed....they're probably gone, and I can't say I'm too disappointed with this defection, as they were taking up a decent-sized space facing State (albeit on the 2nd fl) and were, in my view, a fairly uninspiring prospective tenant to begin with.

The downside: I sure don't see other tenants clamoring to backfill said space...

SamInTheLoop
Mar 29, 2010, 1:55 PM
The clock is really ticking on this one. Freed needs to find a buyer asap, and, in my opinion, I believe its only realistic chances to stay involved in the project at all might be to earn some fees related to leasing, maybe management and consulting....and even those might be a long shot if the most likely buyers are turning out to be self-performing investors/developers (those that typically carry out those duties internally)....I'm not sure the average person realizes that maintaining momentum is so critical to ultimate success here....there is a real possibility that if retailers continue to open at the pathetic pace that they're currently at - it seems to have drastically decelerated to perhaps one every 4-6 weeks or so, while its clear that other retailers are backing away and/or caught in limbo: Muvico: are they in/out?, LEYE: build-out supposedly halted, are there any active buildouts currently underway on floors 2-4? (certainly not readily appparent), there are 2 first floor street-facing corner locations!! (current or former Club Monaco and Rosa Mexicano) that are completely empty with no apparent buildout work, etc etc - I am highly skeptical that this project will survive another holiday season/winter unless it is 80%+ up and running.......what happens is that in the psychology of the consumer, but just as importantly in the retail and shopping center industries, this property will gain such a horrible reputation that it will begin to be summarily overlooked by the industry and will fall into an irreversible death sprial.....

Important to note that some mistakenly do/will blame a failure on the dynamics of the State Street/central loop retail market (I seem to recall some earlier comments from Mr. Downtown in this regard - either in this thread or somewhere else )....this is a thoroughly faulty analysis......alas, this location has more than enough going for it from a micromarket/local shopping trends perspective to thrive in its 280,000 square foot concept mix of vibrant retail, dining and entertainment.............to the contrary, any ultimate failure has to do with the development financial black hole this project is in.....and it can only be rectified with an outright sale sometime in the next 2 months, maximum - to recapitalize this project and give it another chance with a fresh new owner at an entirely different cost base...that's it....there's simply no more time left after that...that may, just may give enough time to quickly tenant the property, finish an additional 2 dozen or so buildouts of retailers, importantly including (hopefully) the Muvico, LEYE space and a couple other full-service restaurants, all in time for Thanksgiving......either that or the project may very possibly die......it's a tall order, but definitely not out of the question, if things start falling into motion now....

spyguy
Apr 9, 2010, 8:54 PM
Bleeding Heart also says their deal fell through (http://twitter.com/Bleeding_Heart/status/11844492422).

http://www.chicagobreakingbusiness.com/2010/04/block-37-deal-seems-unlikely-despite-negotiations.html

Block 37 deal seems unlikely, despite negotiations
Published on April 9, 2010 2:42 PM

The chance of bringing a long-anticipated movie house to the Loop at the Block 37 mall is fading as a foreclosure battle over the stalled retail project winds its way through the courts. Michael Whalen, CEO of Paragon Entertainment LLC, which would run the movie house, said he wants to move forward with the theater, but is doubtful a deal will be reached.

"I really would love to do a theater," said Whalen in an interview with the Tribune. "But given the uncertainty of whether Bank of America and the other lenders would fund the required tenant allowance to construct a theater, at some point, we have to move on."

ardecila
Apr 10, 2010, 2:37 AM
Dammit, get BofA OUT. I'm so glad I canceled my account with them. They won't be getting any of my money for this type of back-stabbing behavior.

Taft
Apr 10, 2010, 1:52 PM
Dammit, get BofA OUT. I'm so glad I canceled my account with them. They won't be getting any of my money for this type of back-stabbing behavior.

I'm trying to be mature enough on this one to say, "it's business, so they have to worry about their bottom line."

That said, it is getting increasingly difficult to give them the benefit of the doubt on this. Not only that, I'm increasingly confused as to why they think letting the property languish like this is in their best interests. I just don't get it...

the urban politician
Apr 10, 2010, 2:33 PM
I have a feeling it is something personal between somebody at BofA and somebody at Freed.

That's the only conclusion that makes any sense to me

killaviews
Apr 10, 2010, 2:52 PM
BofA is going to win this. I say get Freed out. Freed is the one holding up the project now. The sooner BofA can foreclose, the sooner this project can get a new owner. Foreclosure will mean cheaper rent, which will attract more tenants.

And if Muvico wanted to do the deal they would have done it. The whole idea to have Freed form a new company to lease the space and Muvico sells a licsence and manage the place, seems shaddy. They basically backed out and said "we'll be part of this project if we don't have to invest anything."

Get Freed out, they were in defualt, they admitted they were in default. Now they are trying to get sympathy from the public. If they really wanted what was best for the public they should stop fighting foreclosure because they are going to lose.

ardecila
Apr 10, 2010, 7:18 PM
Yes, because we want a major developer that's willing to take on massive downtown projects to get scared back out to Palatine.

It doesn't really make sense to me that Freed would be required to pay $144 million (the total loan value) back to BofA instead of the $58 million personal guarantee. BofA claims there was a clause in the original agreement that forbade Freed from challenging a foreclosure legally, incurring the additional penalty if they did.

Is this standard? It seems like Freed really sold their soul to BofA. Was this project really that risky? It would be open and successful by now were it not for BofA's OWN actions!

B of A cleared to seek $144M from Freed chief over Block 37 (http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=37775)
April 09, 2010

Bank of America Corp. is upping the ante on Laurance Freed in the Block 37 foreclosure lawsuit. The bank now claims the Chicago developer is personally liable for $144 million, the entire amount of the loan outstanding on the new State Street mall, rather than the $50-million personal guarantee the bank had earlier sought to collect. B of A, the project’s lead lender, invoked a provision in the guarantee that says if Mr. Freed contests or hinders a foreclosure, then the guarantee terms convert to “full repayment.” ...

....Mr. Freed’s firm fared better on four counterclaims against B of A that the bank wanted dismissed. The counterclaims seek unspecified damages. [Cook County Circuit] Judge [Margaret Ann] Brennan dismissed two of the claims, but ruled in favor of Freed on two others, meaning they will continue to be litigated. The remaining claims involve the bank rejecting a new lease for a Muvico movie theater and Freed’s claim that the bank improperly interfered with dealings on existing leases and prospective tenants....

....An attorney representing B of A, John Anderson of Seyfarth Shaw LLP, argued that Freed had waived its right to raise all four counterclaims by signing 23 “letter agreements” acknowledging its loan was in default. Freed’s attorneys argued that in the two remaining counterclaims, the bank’s actions occurred after the last letter agreement, adding that B of A filed its foreclosure suit soon after Freed refused to sign a 24th letter agreement that would have precluded the developer from seeking damages related to the Muvico deal....

Busy Bee
Apr 10, 2010, 10:44 PM
I'm in no way an expert on banking or economics, but when it comes to Bank of America, I'd love to see a forced break up of that bitch.

shaberko
Apr 21, 2010, 8:51 PM
Block 37 and Daktronics Video Displays Unite for Powerful Visual Advertising Impact
New LED Video Screens Position Block 37 as Chicago's Newest, Vibrant Shopping Destination (http://www.marketwatch.com/story/block-37-and-daktronics-video-displays-unite-for-powerful-visual-advertising-impact-2010-04-12?reflink=MW_news_stmp)

"Based on Block 37's traffic counters strategically positioned at the entrances, DeFrank estimates approximately 20,000 people enter the shopping center on a daily basis, and as retailers continue to open, that number is forecasted to increase.

"'The LED boards, like the shopping center itself, are evolving,' said DeFrank. 'In the future, we may look to outside advertisers, featuring brands that our retailers sell, as a potential source of revenue for the center.'"

Marcu
Apr 21, 2010, 9:49 PM
"Based on Block 37's traffic counters strategically positioned at the entrances, DeFrank estimates approximately 20,000 people enter the shopping center on a daily basis, and as retailers continue to open, that number is forecasted to increase.
"

And out of those 20,000, the vast majority are using the pedway to get to the el. Otherwise the mall is pretty much dead (as is expected considering it's mostly vacant). Anyway, this isn't news. It's a corporate press release.

Nowhereman1280
Apr 21, 2010, 10:50 PM
^^^ Not really actually. I was just in there today and would describe the traffic on the first floor as "moderate". At any one time probably two dozen people were visible in the corridor outside of Anthropologie. That is pretty good for a floor that is only 50% occupied. Once this place is fully occupied its going to be downright crowded.

spyguy
Apr 24, 2010, 1:26 AM
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=37956

Block 37 retail leases get judge's OK
By Eddie Baeb

Eight retailers, with products ranging from high fashion to frozen custard, have received court approval to open at Block 37.


Andy’s Frozen Custard
Michelle Tan
Alternatives Shoes
Comic Vault
Which Wich
iCandylicious
Simply Thalia
Ladies & Gentlemen
Malabar*

george
Apr 26, 2010, 1:02 PM
4-20

http://img90.imageshack.us/img90/3915/blk37.jpg (http://img90.imageshack.us/i/blk37.jpg/)

lawfin
Apr 27, 2010, 4:10 PM
^^^^God, they really really need to do something about that LED display. Perfect example of good idea and atrocious execution.....it looks like shit

spyguy
May 8, 2010, 7:19 PM
http://www.chicagobusiness.com/cgi-bin/mag/article.pl?articleId=33361

Move to evict Lettuce Entertain You at Block 37
By: Eddie Baeb May 10, 2010

The foreclosure dispute at Block 37 has ensnared legendary Chicago restaurateur Richard Melman.

A joint venture between Mr. Melman's Lettuce Entertain You Enterprises Inc. and ousted developer Joseph Freed & Associates LLC to own and operate a third-floor food court at the new mall is facing eviction.
---

Never a dull moment.

I especially liked this answer from the owners of Comic Vault (http://twitter.com/comicvault/statuses/13495438667) when asked when their store would open:

When the Corporate Gods of Block 37 pull their heads out of their butts!

the urban politician
May 8, 2010, 7:29 PM
Why would Bank of America want to have an empty mall? What good does it do them to tear up leases with good retailers like this?

Can anybody, I mean anybody, who knows a bit about finance, please explain their actions to me?

The only thing I can imagine is that the bank sees something in that site of particular value and wants to control it. Perhaps they think they can get much higher lease rates than Freed?

killaviews
May 8, 2010, 7:51 PM
Why would Bank of America want to have an empty mall? What good does it do them to tear up leases with good retailers like this?

Can anybody, I mean anybody, who knows a bit about finance, please explain their actions to me?

The only thing I can imagine is that the bank sees something in that site of particular value and wants to control it. Perhaps they think they can get much higher lease rates than Freed?

It is not a lease with a good retailer. It is essentially a lease with Freed. Freed owns 90% of the entity that would run the food court, Lettuce Entertain You owns the rest, essentially no investment on their part. The goal would be to end that lease involving Freed and turn around a sign a new one with Lettuce Entertain You.

From the Article:
"Clearly, the intention is to terminate that lease so the receiver can try to open the food court as soon as possible. The receiver's first call likely would be to Lettuce, but Mr. Stieber says there have been no such discussions."

Hayward
May 9, 2010, 7:53 AM
Traffic is really picking up in the place. Met with the gf at Au Bon Pain and the stores throughout were filled with shoppers. It was incredibly strange to see a bunch of people in an empty mall. To be honest, I'm sure there is actually more patronage of the place from its exterior store entrances to Puma, Madden, Anthropologie, etc.

What's so upsetting is you attract a bunch of top notch retailers and then your whole development falls apart. Way to sink all the way from the top.

i_am_hydrogen
May 19, 2010, 9:37 PM
Disney store planned for Block 37

Published on May 19, 2010 2:57 PM

By Wailin Wong | A Disney prototype store that will boast interactive features is slated to open at Block 37 in the fall, becoming the retail complex's first new lease since a court-appointed receiver assumed control of the property in late January...

...Disney executives were not immediately available to comment on the Block 37 deal. In a press release announcing the new store design last week, the company described the concept as "a unique destination developed from a child's perspective" that "integrates the latest technology to create an enhanced shopping experience." One feature of the stores is a "Disney Princess" castle, where a child can wave a magic wand in front of a mirror inside to summon a Disney princess....

...CB Richard Ellis said the Block 37 location will total 4,464 square feet and anchor the mall's southeast corner on Level 1...

http://www.chicagobreakingbusiness.com/2010/05/disney-store-planned-for-block-37.html



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