CHICAGO | General Discussions - Page 56

the urban politician · #**1101** Posted **Jan 18, 2019, 11:00 PM**

^ Yep, it’s not all rosy. Shows you what can happen if you hire the wrong contractor.

I think she botched the 4 flat rehab. You never go all out with the finishes with rental property, even in the higher end. That stuff only makes sense with for sale homes

ardecila · #**1102** Posted **Jan 18, 2019, 11:09 PM**

Quote:

Originally Posted by sentinel

I've said it before, but thriving suburbs are critical to Chicago's future, just as much as a thriving downtown is. A bustling city core need not eschew it's outlier areas, because those outlier areas help pump a lot of money into said city core. The question becomes how best to enhance the suburbs so that they are better connected to the City (and not solely the downtown area), while simultaneously making them denser, more sustainable, more walkable, more affordable, and more contemporary.

Well, sure. But the Meacham Road area in Schaumburg is not the place for strong connections to the city core, unless you're talking about tollway access. That area isn't even really set up to access the new Pace routes on the tollway.

Something like this outside Dallas is probably the best case scenario.

the urban politician · #**1103** Posted **Jan 18, 2019, 11:14 PM**

Unfortunately the Indian community is heavily suburban. Devon Ave long ago stopped being the preeminent place for shopping or even dining. Most Indo-Pak people take care of all of their needs in the suburbs, which are ever burgeoning with ethnic retail

SIGSEGV · #**1104** Posted **Jan 19, 2019, 8:39 PM**

https://www.chicagotribune.com/news/...119-story.html

well maybe now I am not as mad that my flight to Montreal this weekend was cancelled (also... it's fucking cold there right now).

marothisu · #**1105** Posted **Jan 20, 2019, 10:09 PM**

Quote:

Originally Posted by the urban politician

Everything I’m seeing looks horrible. No. More. Podiums. You can still have above ground parking without the podium effect.

But not your mini dog park, 50 cabanas, and 2 outdoor pools!

the urban politician · #**1106** Posted **Jan 20, 2019, 10:28 PM**

Quote:

Originally Posted by marothisu

But not your mini dog park, 50 cabanas, and 2 outdoor pools!

Some day we will look back at podiums with our misty and moist eyes and say.........

AAAAAAAAAAAAAAGH!!!!

marothisu · #**1107** Posted **Jan 20, 2019, 10:48 PM**

Quote:

Originally Posted by the urban politician

Some day we will look back at podiums with our misty and moist eyes and say.........

AAAAAAAAAAAAAAGH!!!!

Yeah, probably. But in all honesty, the reason they are build is because, probably, there's demand for all that crap. I wonder though economically how it works out if they were to just build up all the way and have all the stuff on the rooftop. What the apartments offer in Chicago is rather amazing in my opinion, though a lot of it doesn't necessarily need a podium. Podiums are just kind of weird.

ardecila · #**1108** Posted **Jan 21, 2019, 4:58 AM**

Quote:

Originally Posted by marothisu

Yeah, probably. But in all honesty, the reason they are build is because, probably, there's demand for all that crap. I wonder though economically how it works out if they were to just build up all the way and have all the stuff on the rooftop. What the apartments offer in Chicago is rather amazing in my opinion, though a lot of it doesn't necessarily need a podium. Podiums are just kind of weird.

The massing is good for developers whether there is parking or not. Setbacks to the sides and rear allow for four finished sides and more light/air to every apartment. The podium roof allows for outdoor amenities, at a relatively low floor where they're not so wind-swept.

Even if parking were banned in Chicago, developers would still try to build podiums and just fill them with small office users or retailers, or more likely townhouses.

10023 · #**1109** Posted **Jan 21, 2019, 10:50 AM**

Ken Griffin seems to be directing some of his real estate investment toward London. Just paid £95 million for a house at No. 3 Carlton Gardens in St James:

https://www.ft.com/content/4e46b886-...6-46fc3ad87c65

Guess he spots an opportunity. He bought it at a 34% discount to the original asking price.

Article also mentions the $59 million he paid for the top 3 floors of No. 9 Walton in Chicago and $200 million for a condo in 220 Central Park South. That’s not a bad little portfolio.

marothisu · #**1110** Posted **Jan 21, 2019, 4:09 PM**

Quote:

Originally Posted by 10023

Ken Griffin seems to be directing some of his real estate investment toward London. Just paid £95 million for a house at No. 3 Carlton Gardens in St James:

https://www.ft.com/content/4e46b886-...6-46fc3ad87c65

Guess he spots an opportunity. He bought it at a 34% discount to the original asking price.

Article also mentions the $59 million he paid for the top 3 floors of No. 9 Walton in Chicago and $200 million for a condo in 220 Central Park South. That’s not a bad little portfolio.

He's a multi-billionaire with actual liquidity, unlike numerous other Billionaires. He has many other holdings besides that. Also it was the top 4 floors of No. 9 Walton, not 3 floors, and it was raw unbuilt space. He also has purchased $250M in land in Palm Beach, FL since 2012 because he was going to build the largest mansion in the US on it (which he's recently scrapped) and has 2 big condos in Miami Beach, as well as homes in Aspen and Hawaii (Big Island). He also owns another few penthouses in Chicago such as the top 2 floors of Park Tower, the 37th floor of Waldorf Astoria residences. In Chicago alone, he's spent nearly $95M on residential real estate for himself/his family.

Citadel has had an office in London for a long time, like most major financial firms (and smaller ones who know how to make money). They are also in Hong Kong, Dublin, Shanghai, and Toronto, as well as other major US markets like Houston, SF, Boston, Dallas, etc. They also used to be in Tokyo, although that office closed a long time ago. He's just merely a guy with a lot of actual cash who likes to buy places around the world. He probably owns a place in Hong Kong too secretly and who knows where else. If you follow how he spends his money, you'll understand that he likes to make big purchases - he also purchased 2 paintings from David Geffen a few years ago for $500M.

PerryPendleton · #**1111** Posted **Jan 23, 2019, 5:26 AM**

Quote:

Originally Posted by the urban politician

Some day we will look back at podiums with our misty and moist eyes and say........

AAAAAAAAAAAAAAGH!!!!

What must be done? It has officially gone too far and we all know that one day we will feel intense regret for not stopping it.

Once electric cars, that all are connected to the grid, move in sync with one another this is going to seem like an epic fuck up. Perhaps, when that time comes, we can repurpose podiums into something unique. Public Art, event spaces with a different perspective then your rooftop or warehouse. Instead, they can be large units that are higher than street level, but offer an urban perspective.... I dunno. Sometimes I fantasize about this when I look at the parking garage at the back of 900 N. Michigan. Tesla and Aritzia are at the bottom, but this location should have so much more than dirty car storage and two very inorganic retail experiences. I say inorganic, because retail at the bottom of a parking garage isn't quite as classy as all the high end designer boutiques down the street flaunting gorgeous storefronts and drawing on the architectural direction of the original structure. This is an iconic location (Delaware, Wabash and Rush) and we killed it with a massive parking structure.... And..... we are doing this across the city. It's tragic. Until we take action.

Who wants to start a podium and parking garage repurposing company with me? DM Me

Vlajos · #**1112** Posted **Jan 23, 2019, 5:44 AM**

Quote:

Originally Posted by marothisu

He's a multi-billionaire with actual liquidity, unlike numerous other Billionaires. He has many other holdings besides that. Also it was the top 4 floors of No. 9 Walton, not 3 floors, and it was raw unbuilt space. He also has purchased $250M in land in Palm Beach, FL since 2012 because he was going to build the largest mansion in the US on it (which he's recently scrapped) and has 2 big condos in Miami Beach, as well as homes in Aspen and Hawaii (Big Island). He also owns another few penthouses in Chicago such as the top 2 floors of Park Tower, the 37th floor of Waldorf Astoria residences. In Chicago alone, he's spent nearly $95M on residential real estate for himself/his family.

Citadel has had an office in London for a long time, like most major financial firms (and smaller ones who know how to make money). They are also in Hong Kong, Dublin, Shanghai, and Toronto, as well as other major US markets like Houston, SF, Boston, Dallas, etc. They also used to be in Tokyo, although that office closed a long time ago. He's just merely a guy with a lot of actual cash who likes to buy places around the world. He probably owns a place in Hong Kong too secretly and who knows where else. If you follow how he spends his money, you'll understand that he likes to make big purchases - he also purchased 2 paintings from David Geffen a few years ago for $500M.

He's also not afraid to hang with the masses. His kid plays soccer in the same league as my kid. I see him relatively frequently.

marothisu · #**1113** Posted **Jan 23, 2019, 5:57 AM**

Quote:

Originally Posted by Vlajos

He's also not afraid to hang with the masses. His kid plays soccer in the same league as my kid. I see him relatively frequently.

That's good - we're all people at the end of the day. Hopefully he's a cool guy. I wonder if he has a private jet or not too. When we went to Maui a few months ago, there was a guy who I *think* arrived with us at the airport there who looked like him with all Gucci and Louis Vuitton luggage ($$$$). Didn't think it's him but looked a bit like him. We didn't come from Chicago but still - should have gotten a pic.

BWChicago · #**1114** Posted **Jan 23, 2019, 12:31 PM**

I wonder if anyone's done an architectural history of the Illinois Medical District. There have been a ton of very interesting buildings with very short lifespans that have come and gone as it has developed, re-developed, and re-ree-developed. I tried to figure out just the chronology of (Rush) Presbyterian buildings a few years ago and it was dizzying.

west-town-brad · #**1115** Posted **Jan 23, 2019, 2:38 PM**

How can cities like Chicago be losing population, but still be growing?

https://www.bloomberg.com/opinion/ar...-skill-workers

MakeChicagoGreatAgai · #**1116** Posted **Jan 23, 2019, 5:43 PM**

I don't get the hate for the parking podiums. Yeah, they may not be as pleasant to look at but no one really wants to live on the 2nd floor of a highrise.

Yeah bro I live at the new tower on Michigan Ave

Wow, is that the new 100 floor building?

Yeah.

Your view must be amazing. What floor are you on?

2nd.

Oh... well the location must be nice.

moorhosj · #**1117** Posted **Jan 23, 2019, 9:51 PM**

Quote:

Originally Posted by west-town-brad

How can cities like Chicago be losing population, but still be growing?

https://www.bloomberg.com/opinion/ar...-skill-workers

Census estimates show the city has gained population since 2010. Also, the average household size is shrinking. That means more housing units for the same number of people.

PittsburghPA · #**1118** Posted **Jan 23, 2019, 10:31 PM**

I'm not sure if this is the appropriate place for this post but I think it deserves to be mentioned somewhere on here.

Ken Griffin just closed on the penthouse of 220 Central Park South in NYC for $238Mil making it the largest single home purchase in US History. Wow.

OrdoSeclorum · #**1119** Posted **Jan 23, 2019, 10:59 PM**

Quote:

Originally Posted by MakeChicagoGreatAgai

I don't get the hate for the parking podiums. Yeah, they may not be as pleasant to look at but no one really wants to live on the 2nd floor of a highrise.

I don't know if parking podiums are valued by residents for that reason. But they make the city near them a worse place for humans that need to walk around. The next time you're walking by a half-block long empty brick wall of a Walgreens, or walking by a six story parking garage, ask yourself, "does this suck? Would this be a better environment to spend time in if it was a row of townhomes, retails, bars, offices, apartment windows or almost literally anything else?"

chicubs111 · #**1120** Posted **Jan 23, 2019, 11:33 PM**

Quote:

Originally Posted by OrdoSeclorum

I don't know if parking podiums are valued by residents for that reason. But they make the city near them a worse place for humans that need to walk around. The next time you're walking by a half-block long empty brick wall of a Walgreens, or walking by a six story parking garage, ask yourself, "does this suck? Would this be a better environment to spend time in if it was a row of townhomes, retails, bars, offices, apartment windows or almost literally anything else?"

^ exactly...architects/developers can certainly find ways to "mask" the podium if absolutely a podium is a needed...but you certainly cant beat underground parking and the experience of retail, multistory lobbies and or and large windows at the base that activate a sidewalk instead of blank walls.