CHICAGO | General Developments - Page 1371

OrdoSeclorum · #**27401** Posted **Feb 11, 2015, 9:40 PM**

Quote:

Originally Posted by johneboy96

Im not sure If all theses have been posted, but a bunch of renders (renderings?) for sterling bay buildings in west loop

http://www.sterlingbay.com/portfolio...t-developments

Man, is that 1100 W. Grand an active project? That would do so much for connectivity and vitality in a sleepy cornet of the neighborhood.

Ryanrule · #**27402** Posted **Feb 11, 2015, 9:56 PM**

Quote:

Originally Posted by the urban politician

Unfortunately, a lot of people, even young people, in Chicago still drive. I'm not saying that having parking is some sort of selling point, I'm just saying that being a bit far from transit is not a nonstarter for this project because it will be more accommodating to drivers, and it's still pretty near the Kennedy.

young people dont want to live in the burbs.

Busy Bee · #**27403** Posted **Feb 11, 2015, 10:25 PM**

Quote:

Originally Posted by Ryanrule

young people dont want to live in the burbs.

[A much larger percentage of young people today compared to young people a generation ago] dont want to live in the burbs.

Corrected that for you.

jcchii · #**27404** Posted **Feb 11, 2015, 11:01 PM**

From chicago reddit page...

ummmm

http://imgur.com/Vgo9c4S

Via Chicago · #**27405** Posted **Feb 11, 2015, 11:10 PM**

and its going up just in time for the neighborhood to cease being a functioning market

i can just see the meeting now

"yeah, it'll be edgy! half the letters are vertical.

"SOLD"

intrepidDesign · #**27406** Posted **Feb 11, 2015, 11:10 PM**

Quote:

Originally Posted by jcchii

From chicago reddit page...

ummmm

http://imgur.com/Vgo9c4S

$500,000 well spent! What would we do without WLCO? I mean, this just proves that neighborhood groups have stellar ideas and impeccable taste in design.

Via Chicago · #**27407** Posted **Feb 11, 2015, 11:15 PM**

Quote:

Originally Posted by intrepidDesign

$500,000 well spent! What would we do without WLCO? I mean, this just proves that neighborhood groups have stellar ideas and impeccable taste in design.

at least its not

http://www.chicagonow.com/cta-tattle...le-624x371.jpg

if we're gonna spend obscene money on dumb sh*t like this, can we at least hire a professional and accomplished designer in the process?

i really hate these things. they just look cheesy and desperate.

intrepidDesign · #**27408** Posted **Feb 11, 2015, 11:29 PM**

Quote:

Originally Posted by Via Chicago

at least its not

http://www.chicagonow.com/cta-tattle...le-624x371.jpg

if we're gonna spend obscene money on dumb sh*t like this, can we at least hire a professional and accomplished designer in the process?

i really hate these things. they just look cheesy and desperate.

I'm a professional designer and I'd do it for free, gladly. Both of these signs are grotesquely amateur.

wierdaaron · #**27409** Posted **Feb 11, 2015, 11:46 PM**

Speaking of Sterling Bay, Chicago Creative Spaces just posted a video tour of SB's office space: http://chicagocreativespace.com/sterling-bay/

They usually do tech companies, so it was funny seeing SB on there.

joeg1985 · #**27410** Posted **Feb 11, 2015, 11:56 PM**

Quote:

Originally Posted by sentinel

So is the new Versace boutique shown in this rendering next to Dior (second from left)?

No, Versace would be around the corner from that shot.

marothisu · #**27411** Posted **Feb 12, 2015, 12:14 AM**

Quote:

Originally Posted by joeg1985

No, Versace would be around the corner from that shot.

Le Colonial better not be going away because if so I will be very, very unhappy.. My suspicion is that existing UO space be broken up into multiple spaces of course. I've also heard from a half inside source that the building will be torn down and replaced with a new one, but we'll see...

marothisu · #**27412** Posted **Feb 12, 2015, 12:32 AM**

Quote:

Originally Posted by XIII

Call center planned for Englewood.
Would love to see more projects around here.

http://www.dnainfo.com/chicago/20150...-for-englewood

I'm not an Englewood resident, but I think it sounds great. I also like that they want to get into the schools and offer incentive/jobs to some youth who're willing to put in a little work. An influx of 750-1200 jobs in that area could be really good. Good news is that it's fairly close to the 69th street Red Line stop. Not sure how the area would be at night, but..yeah.

This is awesome news for that community IMO. They really need a pick me up and this could spur other new development in the same area I would think. In that article too, the president of the development company also says something about doing this on the West Side...

UPChicago · #**27413** Posted **Feb 12, 2015, 4:04 AM**

Quote:

Originally Posted by SamInTheLoop

So here's what I think is going on here:

Sterling Bay - was very successful in 'pre-spotting' a trend that was to become much more important during and in the aftermath of the great recession. Made some quite savvy moves. The rest of the office market (the traditional players and buildings, eg financial, professional and business services, legal, etc etc - in Loop, and border-of Loop towers was abnormally slow for several years given the massive hit to employment and the pyschological damage of the financial crisis and deep, long recession - focus on survival, padding profits, efficiencies, productivity, squeezing more and more blood from the stone, reduce physical footprint of occupied space, cramming more and more employees into the same or less sq ftge, etc etc) suffered and was quite stagnant, while one bright spot emerged - tech in 'creative space' (barf). Sterling Bay made this big bet and appears genius. However, the skies did not stay grey forever - the mainstream (85%+) of the office market has now fully emerged in a clear expansion phase, with traditional office tenants now entering growth mode. Meanwhile, tech is surely growing, yet it's once again quite clear that it is only a small part of the overall office market - and in Chicago, will continue to be a relatively small part (although again, with some room for further growth over time). The Sterling Bay story attracted big time institutional money (wasn't it JP Morgan that licked its chops and jumped in head-first?), and now Sterling Bay is flush and it has to come through and place this capital - new constrution, more and more adaptive re-use projects, etc etc. Runs the great risk that some of these projects are not going to make sense, as the vast bulk of the office market (and believe or not, increasingly tech firms as well), is still going to be most interested in Class A towers within reasonable winter walking distance to the train stations, metra and the major CTA lines, the courts, etc. I call it this nichey techey stuff because it's true - there are only so many of these buildings that are going to make sense, and there are only so many tenants that are going to seek to fill them, thus it is and will remain more-or-less a niche..........

They aren't overdoing it, maybe it is a sort of niche market but they don't seem like the type of company to start projects unless they show themselves worthy investments. Clearly their target area has incredible demand, which doesn't seem to be letting up and not every business will desire to be in a sterile office tower.

SamInTheLoop · #**27414** Posted **Feb 12, 2015, 2:02 PM**

^ Well, there you have it - I stand corrected. No reason to think more critically about this one beyond: Sterling Bay knows what it's doing, man, just trust them and let's move on. Because developers - and more broadly investors in any asset class who've had a run of success making prescient calls and great execution have never run into trouble by quintupling down on said trend that's led to their success (in fact trend that they in large part helped to create) ever, across the grand sweep of history........er,.......

Next topic

SamInTheLoop · #**27415** Posted **Feb 12, 2015, 2:38 PM**

Just saw another headline in the Trib re this move across the street. I have a strong feeling that Novak is not doing mixed use here and just wants to cash in on a much lower risk build to suit standalone for Whole Foods. They don't strike me as any sort of sophisticated developer, mostly just a general contractor. This - single-use, standalone, B(T)S - would seem to be much more in their wheelhouse.

Which, of course, is a real shame. Something along the lines of what Centrum had originally proposed (was it the Lakeview Collection?....or some ' ' ' Collection) would now work quite well again (with the residential component being all rental, part rental/part condo.....or who knows - maybe even all condo?) - in better hands.....

george · #**27416** Posted **Feb 12, 2015, 4:03 PM**

2/11

459 W Division

george · #**27417** Posted **Feb 12, 2015, 4:24 PM**

2/11

West Marine, Division & Halsted

BrinChi · #**27418** Posted **Feb 12, 2015, 4:27 PM**

Quote:

Originally Posted by Busy Bee

[A much larger percentage of young {upper-middle class white} people today compared to young people a generation ago] don't want to live in the burbs.

Corrected that for you.

And one more correction was needed

gallo · #**27419** Posted **Feb 12, 2015, 4:32 PM**

Whole Foods at Lincoln/Belmont/Ashland. Nothing special, and a missed opportunity for residential above. Will more than double the size of the current store across the street.

BrinChi · #**27420** Posted **Feb 12, 2015, 4:37 PM**

Quote:

Originally Posted by Chi-Sky21

It is still pretty close to L stops and Ashland...so not very difficult to get to. I am sure they will have plenty of interested tenants that want to be close but not RIGHT downtown.

Agreed. Frankly, as long as 1330 W Fulton gets BUILT, it can sit empty for all I care, haha. I was completely stoked to hear about this. That concrete shell is an embarrassment inhibiting any growth farther west. I hate seeing it on my commute downtown every morning and every time I drive down Ogden.

Of course, hopefully the economy allows for success in all of Sterling Bay's upcoming projects.