CHICAGO | General Developments

[BrandonJXN]

Originally Posted by Hayward

I know it's your opinion that's it's unnecessary. But roofs are important. They prevent the rain and snow from getting on you. Which prevents rain and snow from getting on the floors and seats of transportation vehicles.

Currently there is no roof. Only a roof over the steps. The design solution for a roof is challenging because it must cover a large area and be free of columns so that they don't get hit by buses and so it's less maintenance. Roofs that require larger spans require more structure. Structure over top of subway stations require more engineering and present construction challenges. Construction around an active subway and bus station extends timelines. All of that amounts to a higher cost than what you may think a conventional canopy should cost.

Chicago could do what LA did a few years ago on a lot of it's subway stations.


http://www.griffithcompany.net/grx/p...MG_0385_lg.jpg


http://www.griffithcompany.net/grx/p...1_IMG_0376.jpg

The Orange Line (which is a bus line that acts like a light rail) has canopies as well. When the bus pulls into the station, the canopy is nearly parallel to the roof of the bus which creates a nice weather shield.

https://ggwash.org/images/posts/201210-181351.jpg


https://i.ytimg.com/vi/Egil7_T_5as/maxresdefault.jpg

If Chicago were to somehow implement both, that would be great. Imo, the Belmont Blue Line station is a bit much. But we'll see how it plays out. Hopefully, this will incite a developer to demolish the Five Below and a nice mixed use project take it's place.

[Rizzo]

Each of the LA station canopies alone was $5.5 million each. And it's just covering stairs, not a plaza in Chicago. If you've waited at this station, the crowds get drenched. The $15 mil cost isn't that bad when you consider Chicago's improvements include much more in scope of work than a mere canopy over steps.

[BrandonJXN]

Well this is Chicago so there's a good chance that it'll cost $30 million, open in 2020, and be made of plastic and tape, and still won't fix the issue of buses clogging up traffic making that left turn into the station. But there's not much that can be done in that regard.

[Rizzo]

Originally Posted by BrandonJXN

Well this is Chicago so there's a good chance that it'll cost $30 million, open in 2020, and be made of plastic and tape, and still won't fix the issue of buses clogging up traffic making that left turn into the station. But there's not much that can be done in that regard.

Well I can't argue with that

[Vlajos]

Originally Posted by LouisVanDerWright

I was getting worried the rental machine was slowing over the winter, but in the last couple of weeks the spring season has brought yet another onslaught of interest in my listings. There will inevitably be a slowdown, but the city is also just seeing legitimate demographic change driving these developments. The real question is when the market starts switching to condo.

Interesting. Appraisal Research Counselors in their latest downtown rental market analysis also mentioned that January was a surprisingly strong month for leasing.

[Mr Downtown]

Originally Posted by Hayward

there will be an elevator for the elderly, people in wheelchairs or people with strollers. Elevators are expensive, especially when excavation is required and they need to reconfigure the station lobby.

This project is not adding any elevators.

[LouisVanDerWright]

Originally Posted by Kenmore

paid 140,000 for a 2/1 in uptown in 2010. Comps going 180-220 now.

considering rents for 2/1s, we've saved a ton of cash

Originally Posted by mattshoe

I paid 175,000 in late 2014 for a condo in East Humboldt Park. I refinanced in late 2016 and it was appraised at 225,000.

I rented the place for a year before we bought, monthly price went down $200/mo when I bought.

I do feel there is a little bubble going on now with the price I was appraised at, but I am hoping it continues. Being 2 blocks away from the 606 definitely doesn't hurt.

That's all well and good, but if you knew the kinds of appreciation we've been seeing on small multi unit buildings... Well you don't even want to know. Most of my properties have appreciated anywhere from 3 to 7 fold in five years while returning anywhere from 25-50% ROI each year on rental income. Purchasing multi unit buildings in 2010-2012 was the investment of a lifetime. On my first two flat I used FHA and put $5k down and my equity in the property now equates to literally several dozen times that much. Multi units have been downright rediculous, several friends of mine and I all got in around the same time and all made silly returns in half a decade.

[Rizzo]

Originally Posted by Mr Downtown

This project is not adding any elevators.

Well that's a waste. It should at least be planned for.

[IrishIllini]

Originally Posted by Vlajos

Interesting. Appraisal Research Counselors in their latest downtown rental market analysis also mentioned that January was a surprisingly strong month for leasing.

Is it too early to get excited about the 2020 census?

[TimeAgain]

Originally Posted by IrishIllini

Is it too early to get excited about the 2020 census?

Population in Chicago will be flat or slightly down. Chicago's black population is fleeing the city, and the horrible increase in crime isn't going to change that.

[UPChicago]

Originally Posted by IrishIllini

Is it too early to get excited about the 2020 census?

If you're excited about population decline then sure?

[IrishIllini]

I'm not expecting any serious change, probably 50-60k in either direction. I understand the black population is falling, but I'm hopeful that gains in the core, the north side, and the near west and south sides will offset those loses. Wouldn't be surprised to see the region stay fairly flat but the city get a bump. Chicago and Illinois have flat lined before and rebounded. We'll see!

[mattshoe]

Originally Posted by LouisVanDerWright

That's all well and good, but if you knew the kinds of appreciation we've been seeing on small multi unit buildings... Well you don't even want to know.

Sadly before my time...

[Near North Resident]

Originally Posted by TimeAgain

Population in Chicago will be flat or slightly down. Chicago's black population is fleeing the city, and the horrible increase in crime isn't going to change that.

its a shame the criminals aren't the ones leaving

[jon2379]

Originally Posted by IrishIllini

Is it too early to get excited about the 2020 census?

Redistricting drama should be interesting if we end up losing 2 seats in congress.

[IrishIllini]

Originally Posted by jon2379

Redistricting drama should be interesting if we end up losing 2 seats in congress.

If anything I think we lose one. IL is slightly larger than PA with the same electoral representation. If anything PA, NY, and CT will all take a hit before IL lost two. Maybe even MI and OH as well? WI could too.

[Mikemak27]

Originally Posted by jon2379

Redistricting drama should be interesting if we end up losing 2 seats in congress.

If Madigan ends up with the trifecta, you can rest assured the lines will be as ugly as ever.

[BB 1871]

East tower crane base in place on Carpenter towards Randolph St. Couldn't see if the other was in yet but, things are starting to go vertical

[the urban politician]

In less depressing news, has anybody been to Navy Pier lately? How are the renovations and the new hotel coming along? Any pics?

[TimeAgain]

Originally Posted by the urban politician

In less depressing news, has anybody been to Navy Pier lately? How are the renovations and the new hotel coming along? Any pics?

I don't think the new hotel has even been approved or started in any real sense. Hope I'm wrong, though.