CHICAGO | General Developments

[sloop.chi]

Originally Posted by jdcpamba

Signs installed marketing the parking lots bordered by Harrison to the North, State to the West and Balbo to the South.

Marketed to anything specific??

[jdcpamba]

They are brokerage signs telling the public to call the broker for information on the property.

[Vlajos]

Wrigley Field Renovation Pitches Outdoor Movie Venue, Hotel

http://www.dnainfo.com/chicago/20130...#ixzz2HgyBvyLO

This tidbit is the best:
"The Ricketts family also owns the land across from the ballpark where a McDonald's now operates. Renderings showed it housing a glass, L-shaped hotel with a courtyard facing Wrigley. Issues such as height and parking are still in the works, Dedes Nowak said."

[sloop.chi]

Originally Posted by jdcpamba

They are brokerage signs telling the public to call the broker for information on the property.

Does anyone have any idea what this property is zoned for now?

This is a huge block of potential for not only the south loop but the city as a whole. This lot and the proposed lot on 9th if developed well is a big game changer for the south loop. Could be a great connecting block between the loop and south loop.

[wierdaaron]

Originally Posted by sloop.chi

Does anyone have any idea what this property is zoned for now?

This is a huge block of potential for not only the south loop but the city as a whole. This lot and the proposed lot on 9th if developed well is a big game changer for the south loop. Could be a great connecting block between the loop and south loop.

I'm trying to find the source, but that property was formerly owned by the YMCA -- they were planning on using it for a new downtown headquarters once the economy picked up, but a few months ago they sold it to a broker known for sitting on potentially-valuable pieces of land for a long time until the value peaks.

I think it was on Curbed. I'll keep looking.

Edit: Here we go...

http://www.chicagorealestatedaily.co...velopment-site

JRG could ultimately build anything including student housing, a hotel or offices at the property but wouldn't start a project for at least three to five years, said Cheri Grossman, JRG's senior acquisitions officer. The firm also could sell the lots undeveloped.

Boo! I want to see the south loop developed now, not when it's convenient!

[rgolch]

Originally Posted by J_M_Tungsten

I dream of this being filled with skyscrapers in my lifetime.

Source:http://www.airpano.ru/files/Chicago-.../mobile_e.html

My dream as well. I personally think a significant influx of residential highrises in River North would make the biggest impact of making Chicago feel even more dense and urban. Lets face it, N Michigan Ave is still a big part of the center of gravity of Chicago, and there's already a lot infill east of Michigan Ave. If we get a lot more development West of Michigan ave, extending to the River (at least west of Clark), it would really feel much more dense.

Given to what's happened to Hubbard st in recent years, River North already seems like it's on a massively positive upswing.

[jcchii]

^ and developments like Palomar

height marching north and west

[sloop.chi]

Originally Posted by wierdaaron

Boo! I want to see the south loop developed now, not when it's convenient!

I read that a while ago as well. I agree and the fact that there is marketing out there now is interesting. Perhaps if something comes forward and they like it, there could be development sooner than later

[Mr Roboto]

Not sure if I can link this here, but here goes:

West Loop II? Ambitious plan would cover Kennedy, create office hub
........

The vision: to create a hub of office developments that attract the businesses of tomorrow.

“Data, fiber, technology, finance — those are the tenancies that are growing now; those are the new spaces,” Mr. Sarver said. “The opportunity for Chicago is to . . . physically embody and personify this transformation that's happening rather than just to let it happen naturally — to actually be proactive about it.”

Preliminary plans call for eight to 12 acres of public park that would be built over the expressway, bridging the gap between the West Loop and the central business district, said Steven Fifield, president of Chicago-based Fifield. The recreational space would then serve as a catalyst for bringing new office towers, and tenants to fill them, to the neighborhood, he said.

The capping project would cost around $45 million if it were to span the three blocks between Washington Boulevard and Adams Street, and its first phase could be funded with tax-increment financing from the city, Mr. Fifield said. As more tenants move to the area, boosting tax revenue, the project would likely end up paying for itself, he said.
......................

Read more: http://www.chicagorealestatedaily.co...#ixzz2HhRs1fOq
Stay up-to-date on Chicago real estate with our free, daily e-newsletter

[sloop.chi]

Originally Posted by Mr Roboto

Not sure if I can link this here, but here goes:

West Loop II? Ambitious plan would cover Kennedy, create office hub

I agree. I would argue that spending money to cap the tracks and the "expressway" Columbus in Grant Park and transform the park into more of a LP style, neighborhood park you would get more bang for your buck than a Kennedy cap.

There are 4 big potential development parcels just along Michigan Ave/Roosevelt that would be very encouraged to be developed if GP became more focused on the meeting the needs of the surrounding neighborhood than the needs of summer festivals. GP has a lot of potential, but its not working for the neighborhood as currently constructed IMHO.

But interesting news. At least people are still thinking of "make no small plans".

[the urban politician]

Originally Posted by sloop.chi

I agree. I would argue that spending money to cap the tracks and the "expressway" Columbus in Grant Park and transform the park into more of a LP style, neighborhood park you would get more bang for your buck than a Kennedy cap.

There are 4 big potential development parcels just along Michigan Ave/Roosevelt that would be very encouraged to be developed if GP became more focused on the meeting the needs of the surrounding neighborhood than the needs of summer festivals. GP has a lot of potential, but its not working for the neighborhood as currently constructed IMHO.

But interesting news. At least people are still thinking of "make no small plans".

^ Right now, the market seems to favor the West Loop over the South Loop. So my guess is that, among the two visionary "parks over an expressway" (Kennedy cap vs Columbus cap), the West Loop one will happen sooner. Plus, we now have a private developer expressing interest in it.

Has a private developer ever discussed covering a portion of Columbus in return for some sort of density bonus in the South Loop? Mr. D? Anyone?

[Hal Incandenza]

Anyone know what's going on directly east of the Garfield Green Line stop? Looks like site clearance for a building of some sort, but I couldn't find anything obvious in the city's permit database.

Across Garfield, the arts incubator rehab is coming along nicely. I can snap a picture of it next week if anyone's interested.

[Mr Downtown]

Originally Posted by the urban politician

Has a private developer ever discussed covering a portion of Columbus in return for some sort of density bonus in the South Loop?

I've never heard anyone mention that for Columbus. It runs at ground level, so a cap would actually mean building up and over.

As I mentioned here not long ago, I have recently seen a rendering of the Metra Electric tracks covered over at the south end of Grant Park. My source was coy, but suggested it was merely a study by an advocacy group rather than a developer or someone with money. Eventually, Fogelson/Central Station hope to build over the Metra tracks from Roosevelt to about 18th, but that's a distant dream for now.

[sloop.chi]

Originally Posted by Mr Downtown

I've never heard anyone mention that for Columbus. It runs at ground level, so a cap would actually mean building up and over.

As I mentioned here not long ago, I have recently seen a rendering of the Metra Electric tracks covered over at the south end of Grant Park. My source was coy, but suggested it was merely a study by an advocacy group rather than a developer or someone with money. Eventually, Fogerty/Central Station hope to build over the Metra tracks from Roosevelt to about 18th, but that's a distant dream for now.

On Columbus, couldnt they make it level with the Metra tracks, therefore build over at the same level?

Actually for Columbus, I would be extremely happy if they reduced the lanes by one on each side, put in a plantation median, and improved pedestrian passage by improving crossing lanes or even building a passage underneath.

As regards to south of Roosevelt, a developer did buy the air rights many years ago with plans to build over. Its called Gateway Development and recently plans have actually moved slightly forward for it. Still years away but fingers crossed.

http://blog.chicagoarchitecture.info...he-south-loop/

[VivaLFuego]

Originally Posted by Hal Incandenza

Anyone know what's going on directly east of the Garfield Green Line stop? Looks like site clearance for a building of some sort, but I couldn't find anything obvious in the city's permit database.

Likely part of planned modifications/additions to the station (including off-street bus bays and some other station throughput capacity increases) to accommodate express bus shuttle connections during the Dan Ryan Track project this summer.

[left of center]

Originally Posted by Mr Roboto

Not sure if I can link this here, but here goes:

West Loop II? Ambitious plan would cover Kennedy, create office hub
........

The vision: to create a hub of office developments that attract the businesses of tomorrow.

“Data, fiber, technology, finance — those are the tenancies that are growing now; those are the new spaces,” Mr. Sarver said. “The opportunity for Chicago is to . . . physically embody and personify this transformation that's happening rather than just to let it happen naturally — to actually be proactive about it.”

Preliminary plans call for eight to 12 acres of public park that would be built over the expressway, bridging the gap between the West Loop and the central business district, said Steven Fifield, president of Chicago-based Fifield. The recreational space would then serve as a catalyst for bringing new office towers, and tenants to fill them, to the neighborhood, he said.

The capping project would cost around $45 million if it were to span the three blocks between Washington Boulevard and Adams Street, and its first phase could be funded with tax-increment financing from the city, Mr. Fifield said. As more tenants move to the area, boosting tax revenue, the project would likely end up paying for itself, he said.
......................

Read more: http://www.chicagorealestatedaily.co...#ixzz2HhRs1fOq
Stay up-to-date on Chicago real estate with our free, daily e-newsletter

This sort of reminds me of the super-ambitious design project back in 2003 to cap the Kennedy Expressway with parks:


Kennedy Expressway Green Corridor in Chicago, Illinois by Perkins + Will, 2003.

Ralph Johnson, of the Chicago-based firm Perkins & Will was commissioned by the Chicago Architecture Foundation to participate in their exhibit Invisible City, where Johnson and two other Chicago architects (Brad Lynch of Brininstool + Lynch and Joe Valerio of Valerio Dewalt Train) created designs in response to three different city master plans. Johnson chose the Central Area Plan and responded with the Kennedy Expressway Green Corridor.
Source: http://archidose.org/wp/2003/06/16/k...reen-corridor/



Source: http://archidose.org/wp/2003/06/16/k...reen-corridor/



Source: http://archidose.org/wp/2003/06/16/k...reen-corridor/



Source: http://archidose.org/wp/2003/06/16/k...reen-corridor/


I always really liked the idea, as unrealistic as it seemed back then. The Kennedy has always been such an unsightly barrier that separates the greater Loop from the growing near west side. To tie these two areas of the city together with a parkway would be quite the accomplishment. That, and underground roadways are really, really cool. Imagine the Kennedy underground entirely from Hubbard's cave to the Circle! Hopefully something comes out of this new proposal.

[markh9]

Intelligentsia officially confirmed three new cafes in Chicago, including one at 1225 N Wells and the expected one at the new Division and Ashland building in Wicker. The latter one is "scheduled to open in fall 2013, and will feature a 25 x 80 foot mural wall as part of its exterior facade".

Source

[the urban politician]

Originally Posted by J_M_Tungsten

I dream of this being filled with skyscrapers in my lifetime.

Source:http://www.airpano.ru/files/Chicago-.../mobile_e.html

^ Your dream may be coming sooner than you think

(premium content)

Realistically speaking, Streeterville and River North will resemble midtown Manhattan (or the Loop) in my lifetime (and I'm 36)

[Chicago_Forever]

About a year or two ago, someone asked the question of where luxury residential developments would move to once streeterville was all built up. I remember saying River North and was basically laughed at, lol. The main reason a few gave was that River North couldn't command high price points. However, the South Loop was thrown around a lot. Like I said then, River North is the obvious and logical area to see a bunch of development once Streeterville is build out and I think we're starting to see that happening. There's not that many vacant land left in Steeterville and the amenities that River North provides are unmatched.

Also, I read this article several months ago, I believe it was an article from Chicago Magazine or something, where Friedman was interviewed. His family is credited as being a pioneer in the transformation of River North. They were the ones who started investing in the neighborhood when it was still a slum and are still today one of, if not, the largest owner of properties in the neighborhood. Anyway, in the article he mentioned how he had big plans for RN once the economy recovered. So I believe the next decade or two will be great for the neighborhood and I'll definitely be here to witness all the changes.

[sloop.chi]

One of the reasons why Rahm is really pushing for tech jobs. People in tech. tend to stay city centric and make good money. Google is bringing 2500 jobs downtown, I would guess 500 of them or more will live in the city and live nearby. There is a multiplier impact with that