Quote:
Originally Posted by untitledreality
Possibly, but I would imagine that the influx of capital from selling off the property to a developer for a mixed use high rise would more than offset those costs. You're Mr. RE Economics, what does a typical tilt panel structure cost plus build out compared to the financial gain from selling a site like this?
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Yes, but they also know that the South Loop is currently a majorly depressed land market and I doubt any developer has come along and offered them a fat payout for that land. They know they can probably wait 5 years and get double the price they could get now or more and, since they currently have a new, revenue generating, store that is probably easily covering their costs, I'm sure they are in 0 rush to dump it in this market. I sure as hell wouldn't unless someone were offering me a stupid deal on it, would you? I'd rather have a $50 million profit in 5 years than a $20 million profit today especially if I'm making money on my investment in the meantime anyhow.
I'd give you more detail on the financials, but to be honest any math I'd run would be wildly speculative because I don't know what they are selling it for and I don't know if there's even an actual deal in the works.
Tilt up structures are usually priced by the cost of the wall area which is usually just below $10/SF of wall. Say you've got a 200x200 building with 18' clear (20' to parapet) then you are talking about $150,000 for just the walls. Probably more like $500k for the shell, but the real money is in the interior which is probably fairly sparse and maybe $50/SF? So that's like $2,000,000 of build out from the shell. So a 40,000 SF Jewel probably costs $2,000,000-2,500,000 to build with tilt up. However that's not even relevant because that construction cost is a sunk cost at this point and the decision to redevelop should be based solely on the merits of this investment and potential opportunity costs, not on the fact that you just dropped 2.5 million into the property 10 years ago.
In reality all that matters is what payout you expect now versus the future versus what return you are getting now. Doesn't matter that you would be destroying nice new buildings or that you spent a ton of money a while back.
Quote:
Originally Posted by denizen467
This is opposite from reality so it can't be what you're actually trying to say. Riding in a street takes way more effort and alertness than on a sidewalk. If you're talking about business districts, maybe, but the discussion has to be about the whole city, the vast majority of which is neighborhood side streets. The law shouldn't needlessly force people into the option more dangerous to them. Even taking that random number of "10", fine, I would rather have 10 bicycle-pedestrian incidents than 1 vehicle-bicycle incident.
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We've been getting horribly off topic, so this is the last I'll say unless people want to continue this in Transit.
No, it's not the opposite of reality, it's my point. If you don't have the coordination to ride in the street, then you shouldn't be riding ANYWHERE on a public ROW, sidewalks, streets, parking lanes, whatever. If you are really that young or decrepit then it's probably not safe for you to be riding your bike in a place where you could harm yourself or others period. Also, if you are really that young or decrepit, you probably aren't using your bike for daily business like commuting or errands and are probably riding for leisure. Again, public ROW is not there for your leisure. If you are looking for a place to cruise about with no particular destination then you should be riding on a bike path or side street, not a sidewalk or busy street.
So again, my point is the elderly and young don't NEED to be riding on a public ROW so we don't NEED to allow them to ride on the sidewalks in order to "create equality" or whatever. If you are using your bike for something useful, then go ahead and ride in the street, but if you aren't capable of doing that then you shouldn't be using your bike to commute or run errands and it's probably not safe for you to be doing so. If you aren't commuting or running errands, then get off the ROW and go to the lakefront, side streets, boulevards, parks, or whatever, but stay out of everyone else's way.
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