CHICAGO | General Developments

[Mr Downtown]

Looks like the Chicago Hilton has been doing a couple hundred this winter, judging by the punchlists stuck to the west-facing windows.

[Jibba]

It's looking like the Novak development at Belmont/Ashland is going to be a "flagship" Whole Foods, so there's not much hope that it will include any residences, which is a bummer because that intersection really needs something that signifies that walking is a sensible and practiced activity for the area (and loading up that intersection with frequent parking ingress-egress traffic will only make it more hostile to pedestrians).

The parcel is zoned per PD 1052, but I'm not sure how strictly Novak has to adhere to what's prescribed for the site (as far as having the building programmed like what Lakeview Collective was to be etc.).

[the urban politician]

^ Well, a large commercial development like that is going to generate tons of traffic (car and pedestrian), so basically that intersection is going to go nuts.

[Vlajos]

Originally Posted by Jibba

It's looking like the Novak development at Belmont/Ashland is going to be a "flagship" Whole Foods, so there's not much hope that it will include any residences, which is a bummer because that intersection really needs something that signifies that walking is a sensible and practiced activity for the area (and loading up that intersection with frequent parking ingress-egress traffic will only make it more hostile to pedestrians).

The parcel is zoned per PD 1052, but I'm not sure how strictly Novak has to adhere to what's prescribed for the site (as far as having the building programmed like what Lakeview Collective was to be etc.).

Originally Posted by the urban politician

^ Well, a large commercial development like that is going to generate tons of traffic (car and pedestrian), so basically that intersection is going to go nuts.

Maybe something urban will replace the POS Whole Foods up the street.

[PKDickman]

Originally Posted by Jibba

It's looking like the Novak development at Belmont/Ashland is going to be a "flagship" Whole Foods, so there's not much hope that it will include any residences, which is a bummer because that intersection really needs something that signifies that walking is a sensible and practiced activity for the area (and loading up that intersection with frequent parking ingress-egress traffic will only make it more hostile to pedestrians).

The parcel is zoned per PD 1052, but I'm not sure how strictly Novak has to adhere to what's prescribed for the site (as far as having the building programmed like what Lakeview Collective was to be etc.).

I wouldn't give up on the residential component.

The approved PD matches every developers dream project. 750sq ft units, clear views on all sides. Even if they figure on only getting $2 a foot, the residential unit would add another $10,000,000 in profits over retail alone.

The plan called for max 150 units, min 300 parking.
I think that would leave plenty for WF.

[joeg1985]

Originally Posted by marothisu

Well yes, but how many do they typically do? I've seen some big time renovation work come through in permits in the last handful of months.

Actually you may be on to something here. I just realized that the regularly scheduled makeovers that I am thinking of are more often cosmetic rather than actually reconfiguring space. Having to get permits for the work is a different ball game.

Do the permits that you are seeing say how many rooms they intend on changing? I wonder if they are able to reconfigure their floors to squeeze in an extra room or two. Maybe the permits say demolishing 160 rooms to make 169 rooms or something to that effect?

[marothisu]

Originally Posted by joeg1985

Actually you may be on to something here. I just realized that the regularly scheduled makeovers that I am thinking of are more often cosmetic rather than actually reconfiguring space. Having to get permits for the work is a different ball game.

Do the permits that you are seeing say how many rooms they intend on changing? I wonder if they are able to reconfigure their floors to squeeze in an extra room or two. Maybe the permits say demolishing 160 rooms to make 169 rooms or something to that effect?

Here's some from 2014 and early 2015:

* Convert a lounge at the Renaissance on Wacker to new guestrooms. Also had another permit to demolish the interior of the rooms on floors 25-27 for ???

* Renovate 140 rooms at the Marriott on Michigan Ave and add 2 new guest rooms (floors 42-46)

* Convert residential units on floors 18-21 to hotel suites at 55 E Washington

* 45 guest rooms to be altered including the presidential suite at the Embassy Suites in Streeterville.

* Renovation to rooms on floors 8 thru 14 in the Sheraton in Streeterville
* Renovation of lobby, bar, and restaurant at Hotel Burnham

* Alteration of ground floor, 2nd floor lobby, and 3rd floor as well as storefront exterior at Hotel Allegro

* Meeting room and public corridor renovations to floors 1-12 of Hilton Garden Inn on State St.

* 3rd floor lobby renovation to Hotel Chicago Downtown

[ChickeNES]

Originally Posted by marothisu

* Convert a lounge at the Renaissance on Wacker to new guestrooms. Also had another permit to demolish the interior of the rooms on floors 25-27 for ???

If only they were tearing that POS down. It's one of the most important corners in the city in my opinion, and it's taken up by a damned covered driveway.

[ardecila]

Originally Posted by PKDickman

I wouldn't give up on the residential component.

The approved PD matches every developers dream project. 750sq ft units, clear views on all sides. Even if they figure on only getting $2 a foot, the residential unit would add another $10,000,000 in profits over retail alone.

The plan called for max 150 units, min 300 parking.
I think that would leave plenty for WF.

I think this just means the development will be phased. Instead of doing residences above shops, Novak may build a Kingsbury-style Whole Foods that is stacked with parking on half the site, and leave the other half for residential.

There's also the question of the current Whole Foods site. It's a nice spot for another retailer with stacked parking, but it's even better for residential - closer to the L stop and it's big enough for a substantial number of units. TOD doesn't apply there because of he crazy way the law is written, but it's in Pawar's ward and he would likely extend P-Street designation down Lincoln to unlock TOD if requested.

[ardecila]

Originally Posted by ardecila

Don't think you're giving Chicago enough credit. We have thriving pedestrian strips on Armitage, Milwaukee, 18th, Chicago, 26th, Lawrence, Devon, Lincoln, etc. Also Division, which notably has a lot of new infill.

To follow on this conversation - I have an architecture degree and I know damn well that design matters, but I don't think you can chalk this lack of vibrancy up to schlocky design. It's a numbers game - gentrified neighborhoods are simply depopulated.

Why are there empty storefronts on Lincoln through Lincoln Park, the city's wealthiest neighborhood? Because wealthy people moved in with fewer people per household, and in many cases housing units were actually removed thanks to consolidation of units and deconversion to single-family. Not only that, but community anchors like hospitals, factories, etc have gone the way of the dodo and the community is steadfastly opposed to new housing construction, even though the neighborhood contained far more people in the recent past than today.

[PKDickman]

Originally Posted by ardecila

I think this just means the development will be phased. Instead of doing residences above shops, Novak may build a Kingsbury-style Whole Foods that is stacked with parking on half the site, and leave the other half for residential.

Anything could happen, The pd has actually expired. 90% of the parcel was -3 to begin with, Novak could let it revert and not lose much.

But I have to hand it to Centrum. As far back as 06-07 (when the cap rate was higher and the spread to treasuries at a historic low) they had developed what would become a model retail/apartment design for the post collapse construction economy.

Bottom line is that Novak paid $13 mil for that site and retail alone construction might break just over even.

The Centrum model is an even better money maker today. Novak would be a fool not to use it.

[Chicagoguy]

Sorry for the terrible cell phone picture. I was driving back from the grocery store when I noticed that they added images for the future home of Cantina de La Granja in Andersonville. I have been looking forward to this restaurant opening for some time now. I tried finding the additional renderings online, but I am not as skilled as some people here. This is located in the space formally occupied by T's Bar and Grill at 5025 N. Clark Street.


This is an article from DNAinfo with more detailed information about the planned restaurant.
http://www.dnainfo.com/chicago/20141...h---with-patio

[LouisVanDerWright]

Originally Posted by PKDickman

Anything could happen, The pd has actually expired. 90% of the parcel was -3 to begin with, Novak could let it revert and not lose much.

But I have to hand it to Centrum. As far back as 06-07 (when the cap rate was higher and the spread to treasuries at a historic low) they had developed what would become a model retail/apartment design for the post collapse construction economy.

Bottom line is that Novak paid $13 mil for that site and retail alone construction might break just over even.

The Centrum model is an even better money maker today. Novak would be a fool not to use it.

They probably won't let the PD sunset because it probably entitles them to curb cuts and traffic patterns that would be otherwise hard or impossible to get. The city can be picky about such things around major intersections like this. It's better to just take entitlements like that PD which already is optimal for big box retail and run with them than to try to renegotiate with the city.

[killaviews]

Originally Posted by Chicagoguy

Sorry for the terrible cell phone picture. I was driving back from the grocery store when I noticed that they added images for the future home of Cantina de La Granja in Andersonville. I have been looking forward to this restaurant opening for some time now. I tried finding the additional renderings online, but I am not as skilled as some people here. This is located in the space formally occupied by T's Bar and Grill at 5025 N. Clark Street.


This is an article from DNAinfo with more detailed information about the planned restaurant.
http://www.dnainfo.com/chicago/20141...h---with-patio

That looks like a really impressive investment. That stretch of Clark needs an anchor.

[i_am_hydrogen]

Originally Posted by ardecila

To follow on this conversation - I have an architecture degree and I know damn well that design matters, but I don't think you can chalk this lack of vibrancy up to schlocky design. It's a numbers game - gentrified neighborhoods are simply depopulated.

Why are there empty storefronts on Lincoln through Lincoln Park, the city's wealthiest neighborhood? Because wealthy people moved in with fewer people per household, and in many cases housing units were actually removed thanks to consolidation of units and deconversion to single-family. Not only that, but community anchors like hospitals, factories, etc have gone the way of the dodo and the community is steadfastly opposed to new housing construction, even though the neighborhood contained far more people in the recent past than today.

That stretch of Lincoln (from Fullerton to Webster) has really suffered with the exodus of Children's. Now that the lawsuit against the redevelopment project has been dismissed, I'm very bullish that it will once again be a thriving corridor. Let's hope McCaffery breaks ground sooner rather than later.

[joeg1985]

Originally Posted by Chicagoguy

Sorry for the terrible cell phone picture. I was driving back from the grocery store when I noticed that they added images for the future home of Cantina de La Granja in Andersonville. I have been looking forward to this restaurant opening for some time now. I tried finding the additional renderings online, but I am not as skilled as some people here. This is located in the space formally occupied by T's Bar and Grill at 5025 N. Clark Street.

This is an article from DNAinfo with more detailed information about the planned restaurant.
http://www.dnainfo.com/chicago/20141...h---with-patio

I live a few blocks from here and am also super excited about this opening. This building transformation is absolutely incredible. They just started laying the foundation work for the back portion of the restaurant. Can't wait to see this thing completed.

[dclamster]

Not sure when exactly this happened, but the parking lot at 3030 N. Broadway has been cleared, signs are up, and it looks like the start of construction is imminent for the Mariano's/X-Sport complex, on schedule with the February groundbreaking announced back in August.

It may not be the most amazing building design, but anything is better than that chainlink fence and gravel lot that once graced the property.

[Skyguy_7]

Originally Posted by i_am_hydrogen

That stretch of Lincoln (from Fullerton to Webster) has really suffered with the exodus of Children's. Now that the lawsuit against the redevelopment project has been dismissed, I'm very bullish that it will once again be a thriving corridor. Let's hope McCaffery breaks ground sooner rather than later.

Not entirely unrelated, but this is a shot of the high rise on Webster just west of Lincoln. Anyone know what's happening to it? New facade?

[PKDickman]

Originally Posted by Skyguy_7

Not entirely unrelated, but this is a shot of the high rise on Webster just west of Lincoln. Anyone know what's happening to it? New facade?

http://www.chicagomag.com/real-estat...fts-to-Condos/

[harryc]

Pedestrian bridge, rebuilt and re-opened.


Parking lot improved and expanded !