Quote:
Originally Posted by Via Chicago
i also think its worth noting that while the new proposal will increase residential density, the loss of the arcade building will absolutely decrease commercial density. there are what, 20 or so small businesses in that building? they are also the types of businesses that add vital services and character to the neighborhood.
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20 seems high, maybe more like 10-12. I briefly worked inside the building, and many of the interior spaces struggled with vacancy. It's a tricky spot for professional offices because parking is so challenging. Most of the time I had to park further west on Devon, 2-3 blocks away. Plus there was no central air, only radiant heat, the (common) bathrooms were woefully undersized etc.
I believe the building was owned by a Russian guy who did basic maintenance on the building and kept it in decent shape, but I'm sure he was tired of collecting low-ish rents and eventually got a good offer from a developer.
Putting my developer hat on, really the best scenario to preserve the building is to find a single tenant who could occupy most of the space with office - maybe a larger nonprofit or a co-working space. Planned Parenthood was actually the right kind of tenant although for various reasons, they can't afford high rents. A group of doctors would also be a possibility, but medical offices really need parking since their patients are so far-flung. The first floor or a portion of it could still remain retail.
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