CHICAGO | Post Office Redevelopment

[k1052]

Originally Posted by Via Chicago

yea, and that submarket is no longer a bargain the way it once was. and these sorts of floorplates no longer exist there anyway. it may have converted a decade ago if it was in River North....but its indeed 10 years later so why would the time not be ripe to expand into other areas?

Like Fulton Market?

The post office needs at least a couple major anchor tenants to really get started. For all their similarities the Mart didn't start from zero.

[k1052]

Originally Posted by Via Chicago

if anything its more convenient than all the office space going up in fulton.

Convenience weighted against neighbored amenities is a decision each tenant has to make based on their business and workforce. The amenities offered by the union station area and the fulton market area are dramatically different to say the least.

[Via Chicago]

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[Via Chicago]

Originally Posted by k1052

Convenience weighted against neighbored amenities is a decision each tenant has to make based on their business and workforce. The amenities offered by the union station area and the fulton market area are dramatically different to say the least.

i work in Fulton and i can tell you its highly over-rated from an office worker standpoint. amenities? Lol. unless youre eating at Girl and Goat every day i dont see the big deal or what all the hypes about (actually, i can tell you: management likes that they get to brag that "we're located right by google!"...as if that matters or their luster is magically going to rub off on us just due to proximity. dosent really make a difference for workers or day to day life tho). its certainly nothing like the one-stop-shop that the loop is, and most lunch breaks i find myself treking back over the expressway anyway to get simple errands done.

we actually had Metra commuter employees quit when we made the move because of the trek over from the train station. a half hour walk in the middle of winter for older employees, esp through an area that dosent see the maintence upkeep the central loop does, is a deal breaker for a lot of people

being able to say "get off the train and youre at the office" is a pretty compelling selling point, esp if its a suburban company relocating downtown. and theres a blue line stop right there.

kind of surprised how pessimistic you are on this (i mean, not without just cause, its been empty for a while and will be a big undertaking. ill believe it when i see it too. but Fulton market isnt some nirvana in comparison)

[Kngkyle]

Originally Posted by k1052

Convenience weighted against neighbored amenities is a decision each tenant has to make based on their business and workforce. The amenities offered by the union station area and the fulton market area are dramatically different to say the least.

Due to the size of the building I would imagine the amenities within it could very easily surpass that of any other building in the city. No, it might not have 20 restaurants within a block like in the loop, but it could very well have 10 restaurants inside of it. Plus a 3+ acre rooftop park + the riverfront plaza space? Not to mention that the neighborhood 'amenities' will certainly come once thousands of new patrons are in the area every day.

[Ned.B]

Originally Posted by ardecila

Chopped up and weird additions? The building is already a chimera of weird additions. You just don't notice it because they're all clad in limestone. I don't have any problems conceptually with deleting or demolishing parts of the building as shown in the 2007 rendering.

There are only two eras of buildings. The original brick 6 story warehouse building from 1921 that faces the river and the 1932 art deco building that surrounded it (and reclad the lower 2 floor of the 1921 building). The 1932 building is further split up by the north office block (the north 6 bays) which has different floor to floor heights than the rest of the facility, but otherwise it's pretty organized and contiguous, especially when viewed from the south, west, or north.

Some previous concept plans by Gensler opened up two large lightwells into the center of the building, which to me sounds more useful for office than hacking off the center of the top 5 floors (which was done when residential was proposed here in 2007).

[k1052]

Originally Posted by Via Chicago

we actually had Metra commuter employees quit when we made the move because of the trek over from the train station. a half hour walk in the middle of winter for older employees, esp through an area that dosent see the maintence upkeep the central loop does, is a deal breaker for a lot of people

I've seen this done intentionally by some people though most of the tenants fulton appeals to aren't corporate relos, even from within the city.

being able to say "get off the train and youre at the office" is a pretty compelling selling point, esp if its a suburban company relocating downtown. and theres a blue line stop right there

kind of surprised how pessimistic you guys are on this (i mean, not without just cause, its been empty for a while and will be a big undertaking. but Fulton market isnt some nirvana in comparison, unless again all you care about is high end restaurants...which most people will not be using on a day to day basis)

The post office makes sense for large corporate relos mores than organic office growth of newer companies or startups that tend to cluster. Given the increasing trend of the former I'm actually very optimistic about it's prospects in this cycle.

[k1052]

Originally Posted by Kngkyle

Due to the size of the building I would imagine the amenities within it could very easily surpass that of any other building in the city. No, it might not have 20 restaurants within a block like in the loop, but it could very well have 10 restaurants inside of it. Plus a 3+ acre rooftop park + the riverfront plaza space? Not to mention that the neighborhood 'amenities' will certainly come once thousands of new patrons are in the area every day.

Imagination is about all the project has going for it until somebody starts actually spending money.

[ardecila]

Originally Posted by Kngkyle

None of this seems to hold back the Merchandise Mart...

The Mart was already a successful center for showrooms and expo space long before tech companies started looking at it. It's cohesive and elegant architecturally, since it was all master-planned by Marshall Field II.

The Post Office? All it has going for it is large floorplates (which, as Ned pointed out, aren't even contiguous) and Metra/Blue Line access.

I still think the Post Office is a better site for one-of-a-kind land uses like a Chicago casino and rail terminal that really need the advantages of that site in a way that office does not.

[Via Chicago]

Originally Posted by ardecila

I still think the Post Office is a better site for one-of-a-kind land uses like a Chicago casino and rail terminal that really need the advantages of that site in a way that office does not.

and when are either of those things ever going to happen? or are we prepared to let it continue to rot away when no other serious proposals hav been brought forward

casino could just as easily go on former michael reese land or something similar. rail terminal seems pie in the sky at this point.

[maru2501]

aaaaand William Davies just died

[Ryanrule]

The post office needs deep pockets, and a 20 year commitment, not some scum flipping developer.

[Via Chicago]

Originally Posted by maru2501

aaaaand William Davies just died

well. this has certainly been a news filled day on this subject.

http://www.chicagotribune.com/busine...513-story.html

guess maybe he knew he would never be able to see this through, given the timing

[ChickeNES]

Originally Posted by Ryanrule

The post office needs deep pockets, and a 20 year commitment, not some scum flipping developer.

601W is named after 601 West 26th Street (the Starrett-Lehigh building), which is very similar to the old Post Office (gigantic Art Deco office/warehouse building on top of train tracks). Who do you think would do any better?

[Kngkyle]

Clearly Emanuel killed Davis to get him out of the way for this deal. Don't f#$@ with Chicago. He learned the hard way.

[r18tdi]

Originally Posted by ChickeNES

601W is named after 601 West 26th Street (the Starrett-Lehigh building), which is very similar to the old Post Office (gigantic Art Deco office/warehouse building on top of train tracks). Who do you think would do any better?

Agreed. And they also own the Montgomery Ward groupon building. They know what they're doing.

[BVictor1]

Happy Friday the 13th to him.

[the urban politician]

Wow, always sad to hear about a death. One can't help but wonder how it would complicate matters had he died before signing the closing papers. I guess we dodged that bullet

[SamInTheLoop]

^ Yet we have no confirmation as of this moment of when exactly he expired. This was the very first question I had upon learning of his death. Official time of death and time of sale closing, por favor....

[eaguir3]

I see Rahm is on some Frank Underwood type sh!+