CHICAGO | General Developments - Page 2364

jc5680 · #**47261** Posted **Jun 23, 2020, 6:34 PM**

Crecent heights bought the biggish lot just south of R+D. Personally, this lot has been near the top of my shortlist of surface lots I have wanted to see developed.

Quote:

Crains:

Apartment developer pays $20 million for West Loop lot
The acquisition by Crescent Heights—which built the South Loop's tallest skyscraper—stands out at a time many developers, investors and lenders have hit the pause button because of the coronavirus pandemic.

…

After building the tallest skyscraper in the South Loop, a Miami residential developer has found a site in the West Loop for another big project.

Crescent Heights paid $20.1 million for a 36,000-square-foot parcel at 640 W. Washington Blvd., currently a parking lot just east of the Kennedy Expressway, according to the Chicago office of CBRE, which brokered the sale.

ardecila · #**47262** Posted **Jun 23, 2020, 7:09 PM**

Meh I've seen this lot change hands a few times, this doesn't mean construction is imminent. I hope they can pull something off though, it's probably big enough for two towers and a retail podium.

It's on the wrong side of the Kennedy though, all the action is around Fulton Market. With that and the expressway, this is definitely a B-grade site. Crescent Heights should create their own focal point here unless they're fine with it being a snoozeville.

CrazyCres · #**47263** Posted **Jun 23, 2020, 7:37 PM**

I just want something tall and good looking on that lot. Like 700-900ft would be great

Handro · #**47264** Posted **Jun 23, 2020, 8:21 PM**

Quote:

Originally Posted by ardecila

Meh I've seen this lot change hands a few times, this doesn't mean construction is imminent. I hope they can pull something off though, it's probably big enough for two towers and a retail podium.

It's on the wrong side of the Kennedy though, all the action is around Fulton Market. With that and the expressway, this is definitely a B-grade site. Crescent Heights should create their own focal point here unless they're fine with it being a snoozeville.

I'd imagine an ok place for residential--10 minute walk to the businesses/restaurants/shopping in the West Loop, but avoid late night noise and crowds.

jc5680 · #**47265** Posted **Jun 23, 2020, 8:23 PM**

Quote:

Originally Posted by ardecila

Meh I've seen this lot change hands a few times, this doesn't mean construction is imminent. I hope they can pull something off though, it's probably big enough for two towers and a retail podium.

It's on the wrong side of the Kennedy though, all the action is around Fulton Market. With that and the expressway, this is definitely a B-grade site. Crescent Heights should create their own focal point here unless they're fine with it being a snoozeville.

Hmm, I am not sure that is entirely accurate any more, maybe not even since around the time the last K station building went up. The corridor east of the Kennedy to the river between Kinzie and ~Washington has grown pretty vibrant and is very much a residential forward mixed use neighborhood. It's no longer parking lots, a couple no name bars, + blackbird.

Additionally, and anecdotally, the slow march of residential infill in the surrounding neighborhoods over the last 10 years—often similarly bisected by infrastructure—has hit some sort of critical mass where things like the Kennedy appear to matter less. I think about this a lot any time I walk through Milwaukee/Grand intersection. It is like a 2 block square concrete island that has somehow become a pedestrian friendly residential outpost.

Sure, it more quiet that Fulton or Randolph just west of the Kennedy. But I don't know that means they need to worry about adding a focal point. Assuming it's residential, anything with some reasonable density would be a positive.

As you said though, I don't expect anything to happen here imminently

Handro · #**47266** Posted **Jun 23, 2020, 8:41 PM**

Also, one tiny step closer to a possible (albeit unlikely) capping of the Kennedy from Lake-Van Buren

ardecila · #**47267** Posted **Jun 23, 2020, 8:43 PM**

Quote:

Originally Posted by jc5680

Hmm, I am not sure that is entirely accurate any more, maybe not even since around the time the last K station building went up. The corridor east of the Kennedy to the river between Kinzie and ~Washington has grown pretty vibrant and is very much a residential forward mixed use neighborhood. It's no longer parking lots, a couple no name bars, + blackbird.

There's more residential, but really NOT more of anything else. It's honestly funny to me how the West Loop beyond the Kennedy has filled up while the "West Loop Gate" east of the Kennedy has languished, despite being closer to Loop jobs and CTA/Metra links. It just doesn't have an identity.

Quote:

Additionally, and anecdotally, the slow march of residential infill in the surrounding neighborhoods over the last 10 years—often similarly bisected by infrastructure—has hit some sort of critical mass where things like the Kennedy appear to matter less. I think about this a lot any time I walk through Milwaukee/Grand intersection. It is like a 2 block square concrete island that has somehow become a pedestrian friendly residential outpost.

Well, this has a subway station directly below, with direct links to the Loop and O'Hare... that can't be overstated as a driver of development. It also had a reputation/identity as a little dining cluster dating back to the Italian "old neighborhood" days, with La Scarola and Como Inn drawing people even 30 years ago.

Quote:

Sure, it more quiet that Fulton or Randolph just west of the Kennedy. But I don't know that means they need to worry about adding a focal point. Assuming it's residential, anything with some reasonable density would be a positive.

I'm not necessarily referring to nightlife, but it would be great to see the developers provide some large-scale retail space to lure a medium-box retailer like a Trader Joe's, Petco, etc. They could also split the project with residential and hotel phases, a select-service hotel with budget pricing (like the McSams in NYC) would generate a lot of foot traffic and drive demand for dining, convenience stores, etc.

jc5680 · #**47268** Posted **Jun 23, 2020, 9:51 PM**

In terms of new, large developments, I guess I see? Emme and the hotel(s) on Jefferson are the only recent buildings. But, there are only 2-3 open lots outside of this one in this area left any ways.

But, Lake street has really filled out with your run of the mill neighborhood type fitness/shipping/fast food places along with some better than typical restaurants/bars like moneygun and kumiko. Randolph built on the success of avec and blackbird and has filled in with a half dozen similarly aspirational places.

The area still has to balance its transient office worker mix, but personality wise it has changed the last couple years.

The larger point I was trying to make around Milwaukee/Grand was not so much to question why it is doing well. (naturally the blue line stop helps drive that) Only that I think it is the kind of place that can be similarly overlooked for geographic reasons and can be prone to not-quite-up-to-date perspectives of what it is like there.

Ultimately retail of some sort would be great, I guess I hadn't considered med-box. Hotel is an interesting idea as well, would be nice if it didn't skew towards business travel quite as much as the Hilton flags on Jefferson.

Quote:

Originally Posted by Handro

Also, one tiny step closer to a possible (albeit unlikely) capping of the Kennedy from Lake-Van Buren

same wishful thought

ardecila · #**47269** Posted **Jun 23, 2020, 10:43 PM**

Re: the capping, Steve Fifield was all gung-ho about this a few years ago, even looking to contribute private funding, until he realized just how completely and utterly impossible it is to build infrastructure in this city.

Even if you had the money, you'd probably need to have the governor on board to overrule all the bean counters at IDOT. Alderman Burnett supports it, for whatever that's worth.

If the cap is long enough, it might even be considered a tunnel, and any trucks carrying hazardous materials would need to be re-routed. There's no good expressway alternative, so they'd probably be forced onto Ashland or Western.

LouisVanDerWright · #**47270** Posted **Jun 24, 2020, 7:01 AM**

They should build a 300 story tower on that lot. Crescent Heights has no balls whatsoever if they don't pull this off...

BVictor1 · #**47271** Posted **Jun 24, 2020, 6:59 PM**

Quote:

Originally Posted by jc5680

Crecent heights bought the biggish lot just south of R+D. Personally, this lot has been near the top of my shortlist of surface lots I have wanted to see developed.

The site is zoned DX-7 and it's in (the 42nd) Reilly's Ward.

sentinel · #**47272** Posted **Jun 25, 2020, 4:09 PM**

ChiArch blog reporting that the lovely Giordano dance studio building in Lincoln Park is asking for an extension in their zoning application. Glad this project is still happening....?

https://bklarchitecture.com/projects...dance-chicago/

chicubs111 · #**47273** Posted **Jun 25, 2020, 7:20 PM**

wouldnt it be great if something like this was done as a way of preserving some older stocks of building from demolition but with a much taller glass tower encompassing it?..its really unique ive never seen that before

marothisu · #**47274** Posted **Jun 25, 2020, 10:47 PM**

^ The dance studio was in the latest round of zoning apps submitted for June, so yeah. Looks like it's still on the table.

In other news, building permit was issued for a vacant lot at Long & Argyle for a new 4 story, 24 unit building. I know this project has been in the works for a long time as neighbors opposed it years ago. I know the original called for 48 units so I'm not sure if another similar permit is coming but it's still good. Vacant lot right near the Jefferson Park transit center and the highway. Should hopefully fill up fast after it's built.

jc5680 · #**47275** Posted **Jun 27, 2020, 10:31 PM**

800 n milwaukee

ardecila · #**47276** Posted **Jun 29, 2020, 3:28 PM**

Some whispers in the sports blogosphere about the Bears leaving Soldier Field in the medium term... they're locked into a lease for Soldier Field for another 13 years, but if McCaskey passes away I expect the new ownership will start exploring their options.

Arlington Park Racetrack was always discussed historically as a suburban site, and now it's looking like the entire site could become available if the racetrack closes for good. That would provide enough room for not just a stadium and endless parking, but also a mixed-use development "stadium village" etc.

Chi-Sky21 · #**47277** Posted **Jun 29, 2020, 3:47 PM**

but look at the bright side...we will still always have that wonderful parking lot there to enjoy......

Handro · #**47278** Posted **Jun 30, 2020, 3:09 PM**

Caissons permit for a 11-story residential building at 1454 W Randolph was issued yesterday. Cool to see a pretty big Fulton development kick off, the cycle still has a little gas left...

the urban politician · #**47279** Posted **Jun 30, 2020, 3:20 PM**

Quote:

Originally Posted by Handro

Caissons permit for a 11-story residential building at 1454 W Randolph was issued yesterday. Cool to see a pretty big Fulton development kick off, the cycle still has a little gas left...

I'm trying to figure out which project this is. Could it be one of the ones listed in this article?

https://chicago.curbed.com/2019/6/17...andolph-bellyq

If so, that would bookend Randolph looking westward

r18tdi · #**47280** Posted **Jun 30, 2020, 4:03 PM**

Quote:

Originally Posted by the urban politician

I'm trying to figure out which project this is. Could it be one of the ones listed in this article?

https://chicago.curbed.com/2019/6/17...andolph-bellyq

If so, that would bookend Randolph looking westward

That would be number 40 on this list: https://chicago.curbed.com/maps/west...on-development