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  #1101  
Old Posted Jan 16, 2019, 9:06 PM
the urban politician the urban politician is offline
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Originally Posted by Vlajos View Post
That's a good question, I think it's just driven by cold weather and less people looking during these months. I agree it's strange.
Exactly.

I always hate having vacant apartments in the dead of winter, often very hard to fill. People just don't like to move when it's frozen tundra outside, not that I can blame them
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  #1102  
Old Posted Jan 18, 2019, 7:02 AM
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In Schaumburg news:

Schaumburg mulling big parking garage for convention center area
Schaumburg officials are proposing a six-story, 1,100-space parking garage to serve the Schaumburg Convention Center and Renaissance Hotel as well as new businesses that could join a planned entertainment district nearby. The garage would include ground-floor retail and cost between $30 million and $33 million. [Daily Herald]


Let’s take a SSP field trip there!
Not to give Schaumburg too much credit, but in theory a centralized parking garage could allow that area to be redeveloped in a more walkable fashion, more like downtown Naperville than the suburban hellscape we're used to seeing in Schaumburg.

The Motorola campus across Meacham is getting redeveloped too, the developers there are at least paying lip service to walkability and urban design but the buildings unveiled so far are more of the same suburban junk. Maybe more like suburban Dallas than what we've seen so far in suburban Chicago, but still junk.
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Last edited by ardecila; Jan 18, 2019 at 7:22 AM.
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  #1103  
Old Posted Jan 18, 2019, 2:43 PM
the urban politician the urban politician is offline
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^ Well, if our burbs are gonna survive they need to compete with suburban Dallas, not with downtown Chicago.

Besides, as we discussed many times before, we have a downtown Chicago. Dallas, et al doesn’t and never will.
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  #1104  
Old Posted Jan 18, 2019, 4:45 PM
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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.
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  #1105  
Old Posted Jan 18, 2019, 7:15 PM
the urban politician the urban politician is offline
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Anybody watch that HGTV show Windy City Rehab?

The lady is a bit intense, but casts a neat light into flipping homes in the local real estate
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  #1106  
Old Posted Jan 18, 2019, 8:10 PM
moorhosj moorhosj is offline
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Anybody watch that HGTV show Windy City Rehab?

The lady is a bit intense, but casts a neat light into flipping homes in the local real estate
Yes! I find it to be one of the better examples of this type of show (although I'm certainly biased).
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  #1107  
Old Posted Jan 18, 2019, 11:00 PM
the urban politician the urban politician is offline
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^ 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
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  #1108  
Old Posted Jan 18, 2019, 11:09 PM
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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.
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  #1109  
Old Posted Jan 18, 2019, 11:14 PM
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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
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  #1110  
Old Posted Jan 19, 2019, 8:39 PM
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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).
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  #1111  
Old Posted Jan 20, 2019, 10:09 PM
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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!
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  #1112  
Old Posted Jan 20, 2019, 10:28 PM
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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!!!!
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  #1113  
Old Posted Jan 20, 2019, 10:48 PM
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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.
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  #1114  
Old Posted Jan 21, 2019, 4:58 AM
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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.
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  #1115  
Old Posted Jan 21, 2019, 10:50 AM
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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.
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  #1116  
Old Posted Jan 21, 2019, 4:09 PM
marothisu marothisu is offline
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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.
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  #1117  
Old Posted Jan 23, 2019, 5:26 AM
PerryPendleton PerryPendleton is offline
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What can be done?

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Originally Posted by the urban politician View Post
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

Last edited by PerryPendleton; Jan 23, 2019 at 5:49 AM.
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  #1118  
Old Posted Jan 23, 2019, 5:44 AM
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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.
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  #1119  
Old Posted Jan 23, 2019, 5:57 AM
marothisu marothisu is offline
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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.
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  #1120  
Old Posted Jan 23, 2019, 12:31 PM
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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.
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