CHICAGO | General Developments

[denizen467]

Originally Posted by pip

Historic West Loop warehouse slated for demolition
https://chicago.curbed.com/2017/8/28...ion-washington

After being in Boston for a week about a month ago I saw how these old buildings can really be reused and offer a lot to the character, vitality and pleasantness of a neighborhood. Too bad Chicago is tearing so many down.

Probably not architecturally significant, but some of the old buildings in/around the Big Deahl complex now have fencing closing them off along Dayton. There was a Crain's article about this earlier this month but I didn't realize this was moving forward so soon. I really like the old structures in this area; they're a great counterpoint to the brand new lowrises and midrises like SoNo, the British School, Whole Foods, etc.

[Via Chicago]

Originally Posted by denizen467

Probably not architecturally significant, but some of the old buildings in/around the Big Deahl complex now have fencing closing them off along Dayton. There was a Crain's article about this earlier this month but I didn't realize this was moving forward so soon. I really like the old structures in this area; they're a great counterpoint to the brand new lowrises and midrises like SoNo, the British School, Whole Foods, etc.

its rated orange. its significant. as is this one.

[moorhosj]

Originally Posted by Via Chicago

theyd rather rent a tiny apartment or buy a condo in logan or lincoln park than buy a house in lawndale or brighton park, because thats not why they moved here in the first place.

Thanks for the thoughtful response. I think this is actually one of the keys to re-invigorating some of these areas.

The way I see it, more and more young hipsters are moving into neighborhoods like Avondale, Humboldt Park, Logan Square, Bridgeport, Pilsen, Chinatown and the like. The former residents of those communities, low-to-middle income families, will naturally gravitate towards the neighborhoods you mentioned as they are priced out of gentrifying neighborhoods. We are already seeing some signs of this in places like Gage Park and West Englewood.

[King of Chicago]

Originally Posted by Investing In Chicago

This makes absolutely no sense; if a person chooses to commute 3 hours each way that is on them; there is plenty of affordable housing in Chicago.
I just picked up 6 SFH's in a solidly working class southside neighborhood for <$130K each. How much more affordable can you get than that? You can walk to the El, and be downtown in 15 min.

EXACTLY.

Think of it this way: When a person makes $11 an hour, that comes out to about $22,000 a year (if they are working full-time).

If three individuals, who each make $22,000 a year, put their income together, that comes out to about $66,000 a year.

These three people could go together as "business partners" and EASILY buy a $130,000 house, with an FHA first-time homebuyer mortgage.

This is one way, to break into the real estate game, is to partner up with other people. Sort of like "business partner/roomates".

Now, having said that, I do agree that it is a good idea to keep building more housing in existing neighborhoods, as more supply eventually causes prices to drop.

I am going to be very frank and honest here...a lot of times, when people complain about a lack of "affordable housing", what it really seems like they mean, is they cannot afford to live in the hot, fun neighborhood of their choice. But if someone needs to live in the city, there are affordable places to live, for sure.

But yes, as a renter, I do support building more supply, overall.

[Khantilever]

Originally Posted by west-town-brad

How can you quantify restricted rental income on a unit inside of a building that would not have been allowed to have been built in the first place per city zoning?

See, the developer gets an upzone to make more profit, but to do so he has to build a few "rent restricted units" inside of the building. The developer is not giving up any profit at all, instead he is being allowed to make more profit than he would have made has he constructed the building as of right before the upzone.

I'm as critical as anyone of the local politicians and the games they play - but this makes sense. Otherwise poor people will be commuting for 3 hours each way for the honor of serving you french fries and making $11 per hour before taxes.

That's a strange approach. The zoning restriction is artificial. When we say that the affordable units reduce profit, that's relative to the case where similar square footage is constructed without the affordable units. It's a theoretical comparison but the relevant one, since we need to consider the impact of the AHO on the supply of housing; by reducing the return on investment, we discourage the development of new housing units. After all, the upzoning itself is endogenous; where the return on investment is sufficiently high, we generally see upzoning since the developer lobbies more aggressively and positive spillovers to the community are generally (but not always) correlated in magnitude to the private benefits to the developer. Unnecessarily excessive zoning restrictions that are almost always lifted are just ways for aldermen to increase their negotiating power.

[SolarWind]

August 24, 2017





August 25, 2017



https://www.floatingmuseum.org/

[SolarWind]

August 24, 2017

[SolarWind]

August 24, 2017

[marothisu]

The Central Savings Bank at 3800 N Lincoln (Lincoln & Grace) has a demo permit to get rid of the building. This thing is pretty suburban looking (https://www.google.com/maps/place/38...!4d-87.6767305)


owner on the permit is still the bank. Anybody know of plans for this? Hopefully they replace it with something far less suburban.

[SolarWind]

August 24, 2017

[SolarWind]

August 24, 2017

[SolarWind]

August 24, 2017

[SolarWind]

August 24, 2017

[SolarWind]

August 24, 2017

[the urban politician]

Good lord, the design of religious buildings has sure gone into the shitter. That thing looks like a medical office building in Batavia

[SolarWind]

August 25, 2017

[SolarWind]

Originally Posted by emathias

I wonder if Apple plans to clean the limestone below their store or "age" the newer blocks so that they blend in. It looks kinda crummy with the mix like it is. If they're going to put in what is probably over a million dollars in glass you'd think they'd want the stone to look good, too.

August 25, 2017

[Via Chicago]

Originally Posted by SolarWind

August 24, 2017

this looks so sharp. glad it was saved

[Stunnies23]

So the bush temple flats apartments have still not had even 1 move in yet. How is this company profitable enough to start construction on the Lasalle project rehab? It's been over two years since they started the project.

[LouisVanDerWright]

Originally Posted by SolarWind

August 24, 2017

Slick

Originally Posted by SolarWind

August 24, 2017

Not slick

Originally Posted by Stunnies23

So the bush temple flats apartments have still not had even 1 move in yet. How is this company profitable enough to start construction on the Lasalle project rehab? It's been over two years since they started the project.

Ponzi Scheme