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  #1001  
Old Posted Jan 16, 2018, 3:32 PM
marothisu marothisu is offline
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Originally Posted by Jim in Chicago View Post
Who owns the Holiday Inn building and/or the land it sits on? That isn't exactly a prime development.
I believe Westloop Equities owns it
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  #1002  
Old Posted Jan 16, 2018, 10:27 PM
Jim in Chicago Jim in Chicago is offline
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Originally Posted by marothisu View Post
527 S Clinton LLC owned it since at least 2007. I don't think that's Davies, but I could be mistaken.
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I believe Westloop Equities owns it
In googling Westloop Equities I found links to a long-standing legal battle between 527 S. Clinton and Westloop Equities over an easement for what I think is the parking lot that was just sold.
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  #1003  
Old Posted Jan 16, 2018, 11:32 PM
marothisu marothisu is offline
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In googling Westloop Equities I found links to a long-standing legal battle between 527 S. Clinton and Westloop Equities over an easement for what I think is the parking lot that was just sold.
Found that too. I'm wondering if that hotel would consider selling to 601W - I'm sure you could build a sizable tower on half that lot, but the entire lot could yield a really big tower or two. It looks like 601W pretty much was able to buy half of that block - minus the hotel and the small building with Don Fresco in it. Everything else is now theirs.

I know that 601W said they could develop on adjacent land, so I'm just wondering if purchasing a lot like they just did was always part of the plan regardless, or if it was more of a conditional thing that they'd buy the lot of land if they had a legitimate interest/signing.

If it's conditional then this gets really, really interesting, otherwise it's just business as usual.

Last edited by marothisu; Jan 16, 2018 at 11:49 PM.
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  #1004  
Old Posted Jan 16, 2018, 11:57 PM
the urban politician the urban politician is offline
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Found that too. I'm wondering if that hotel would consider selling to 601W - I'm sure you could build a sizable tower on half that lot, but the entire lot could yield a really big tower or two. It looks like 601W pretty much was able to buy half of that block - minus the hotel and the small building with Don Fresco in it. Everything else is now theirs.

I know that 601W said they could develop on adjacent land, so I'm just wondering if purchasing a lot like they just did was always part of the plan regardless, or if it was more of a conditional thing that they'd buy the lot of land if they had a legitimate interest/signing.

If it's conditional then this gets really, really interesting, otherwise it's just business as usual.
There is much interesting here with the Old Post Office project, really.

I am still intrigued that while other developments need an anchor tenant, this project landed $500 million in financing from one of the nation’s premier lenders despite no major announcements. That’s not just a vote of confidence, that’s SCREAMING to the world that something really legit is happening here.

I’m not necessarily saying it’s Amazon, but something is going on behind the scenes.
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  #1005  
Old Posted Jan 17, 2018, 12:12 AM
marothisu marothisu is offline
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There is much interesting here with the Old Post Office project, really.

I am still intrigued that while other developments need an anchor tenant, this project landed $500 million in financing from one of the nation’s premier lenders despite no major announcements. That’s not just a vote of confidence, that’s SCREAMING to the world that something really legit is happening here.

I’m not necessarily saying it’s Amazon, but something is going on behind the scenes.
Yeah - I think the loan is very interesting for sure. You don't usually land a loan that big unless you can show you have something legit. That's a bit of money - the last thing anybody would want to do is have to make up for the $500M + interest you couldn't pay back.

Obviously I hope it's Amazon, but I would be just as happy with a major HQ relocation type of announcement here too.
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  #1006  
Old Posted Jan 17, 2018, 12:16 AM
Vlajos Vlajos is online now
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I've heard rumors of Walgreens and United Airlines taking space in the OPO.
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  #1007  
Old Posted Jan 17, 2018, 12:25 AM
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^ Walgreens AND United, from who?
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  #1008  
Old Posted Jan 17, 2018, 12:30 AM
the urban politician the urban politician is offline
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I've heard rumors of Walgreens and United Airlines taking space in the OPO.


Come on. Those must be some really bad sources.

And I have to say, I will be pissed beyond belief if all of this was for fucking United Airlines...
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  #1009  
Old Posted Jan 17, 2018, 12:30 AM
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Walgreens HQ relocation or just a big office that's not HQ?
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  #1010  
Old Posted Jan 17, 2018, 12:32 AM
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Walgreens HQ relocation or just a big office that's not HQ?
Unclear, but it sounded like quite a bit of space
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  #1011  
Old Posted Jan 17, 2018, 12:37 AM
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Unclear, but it sounded like quite a bit of space
That's cool - I hope it's the HQ and also a lot of workers . But even if it's just a big office of hundreds of workers, then that's also good. Would be an interesting office set up - we moved 2 years ago to a building with high ceilings, very open, etc as a high performance space. It's worked out well and I would definitely never go back to the old way if I didn't have to.

Do you have any info on the purchase of the parking lot adjacent and west of the Holiday Inn too?
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  #1012  
Old Posted Jan 17, 2018, 1:04 AM
Vlajos Vlajos is online now
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That's cool - I hope it's the HQ and also a lot of workers. But even if it's just a big office of hundreds of workers, then that's also good.

Do you have any info on the purchase of the parking lot adjacent and west of the Holiday Inn too?
Yeah, it sounded like 200-300K for Walgreens. Nothing on that lot though. I wish I did.
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  #1013  
Old Posted Jan 17, 2018, 1:58 AM
the urban politician the urban politician is offline
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^ That's a ton of jobs.

United just moved their HQ though, I would be surprised if they moved it again. Also, like I said I hope it's somebody else. An out of town company would be nice
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  #1014  
Old Posted Jan 17, 2018, 2:33 AM
MultiModal MultiModal is offline
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^ That's a ton of jobs.

United just moved their HQ though, I would be surprised if they moved it again. Also, like I said I hope it's somebody else. An out of town company would be nice
United has looked at the Post Office. They are looking to consolidate and move some of their suburban offices downtown. So they would maintain their current HQ.
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  #1015  
Old Posted Jan 17, 2018, 2:41 AM
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An out of town company would be nice
This.

While having Walgreens move downtown would be fantastic (and probably will at some point in the near future), poaching an HQ from another city would be even better news. It would bring jobs to the metro that were not already here, send a message that IL is not a complete economic basket case (debatable), and would be another line item on our Amazon HQ2 resume.
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  #1016  
Old Posted Jan 17, 2018, 2:45 AM
Kngkyle Kngkyle is offline
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United has looked at the Post Office. They are looking to consolidate and move some of their suburban offices downtown. So they would maintain their current HQ.
I was under the impression that they basically had nothing left in the suburbs and everything was already consolidated at Sears. Is that wrong then?
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  #1017  
Old Posted Jan 17, 2018, 3:53 AM
Vlajos Vlajos is online now
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I was under the impression that they basically had nothing left in the suburbs and everything was already consolidated at Sears. Is that wrong then?
Not sure, but maybe jobs from Houston are involved.
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  #1018  
Old Posted Jan 17, 2018, 3:06 PM
Bombardier Bombardier is offline
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I heard Walgreens was going there as well. They were also considering 625 W Adams among other locations but decided to go with the OPO.
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  #1019  
Old Posted Jan 17, 2018, 3:33 PM
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I heard Walgreens was going there as well.
Ditto. I heard something in the 300,000 SQF range, still will maintain a big presence in Deerfield.
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  #1020  
Old Posted Jan 17, 2018, 3:57 PM
the urban politician the urban politician is offline
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Wow, all these rumors but no actual announcement? I hope it’s a HQ.

Anyhow, sounds like we can cross HQ2 off of the list in light of all these rumors
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