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whether they've considered relocation to a permanent large facility? that's beyond me. correction: they downsized to six regional offices, so this is a relatively large gov't presence in suburbs. |
^ Also I think there's some bigass US post office facility out in Carol Stream or Palatine or somewhere. But then I highly doubt the Old Main Post Office would be redeveloped for use by ... a post office.
Argonne? |
A little more info
http://www.rejournals.com/2014/07/03...n-post-office/
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That's nice and all, but where does Sterling get $500M without a single tenant commitment?
Setting a date to start work sounds pretty damn rosy unless Sterling is on the cusp with several tenants (or one massive one). |
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In fact, they've likely been involved with this project for a long time prior to the recent public announcement of their JV with Davies. If you notice, not a peep of their interest in partnering with Davies was leaked until they had already inked a deal. I doubt they'd be claiming they are getting started this year unless they had some anchor tenants in the bag and contingent term sheets for the financing from lenders. PS: It is also worth noting that Sterling Bay has filled up Fulton Market Cold Storage. They certainly seemed to have the edge over just about everyone in the market with the project and it is likely there are a lot of other tenants clamoring to sign a deal with Sterling Bay. The prospect overflow alone from FMCS could be enough to start driving this project. |
Sorry for the double post, but related question: Does the Old Post Office lobby run the entire N-S length of the building? If so this renovation could result in an excellent new pedestrian connection between the Near West Loop and the bullshit DS zoning to the south. I have a feeling a little rezoning will be in order for this area after Sterling Bay fills this place up.
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Here's a cool tidbit: sometime in 2012, Davies' team did tests on window restoration. These old steel windows are becoming rare, but I believe they are protected at the Post Office by some deed restrictions that were written when USPS first sold the building. restored window at center http://chicagowindowexpert.com/wp-co...view-uspo1.jpg src |
^^^ Ah, makes sense, it would be nice if they constructed some kind of Merch Mart like arcade through the second floor of the building (perhaps they are planning this anyhow as a part of the retail component?) that would allow pedestrians to cross the expressway without being subjected to the grody underpasses in that area.
Also, that window looks totally baller. I never noticed that they were essentially triple hung steel frames before. Even that little glimmer of shiny steel (is it stainless steel?) foretells things to come. This building will probably have a 1 Prudential like transformation from grimy to virtually brand new! |
If Sterling Bay is involved it ,with his history and reputation than this is more than speculation. Looking forward to what's in store for this property.
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The window is not stainless steel, just plain old rolled steel. I believe the restored unit was powder-coated though. |
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Closeup view. The color is not what I would choose...
http://chicagowindowexpert.com/wp-co...botcorner1.gif src |
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Also they are calling this renovation phase one, does that include the tower also planed for phase one in the beginning? |
^ Those towers are still very much firmly grounded in make-believe. This is an adaptive re-use of the existing ex-post office building.
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so what gives? :???: i know this is a step by step ordeal, but are the developers still interested in the original humongous plan, or have they given up on it after the first try failed? More here vvv http://www.chicagobusiness.com/artic...ld-post-office |
The original huge plan was never anything more than a fever dream.
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_________________________________________________________________ as it is now more than clear that this is just a massive redevelopment plan of the old post office structure itself for now, i'm moving this thread out of the highrise proposal sub-forum and into the general development sub-forum to avoid any further confusion by those who thought the super-tall pipe dream plans were ever anything more than pipe dreams. |
It's not entirely outside the realm of possibility that if the Sterling Bay redevelopment is wildly popular they might think about expansion down the road, but I'd wager that they've taken all that stuff off the table in their minds to focus on the first thing first. My guess is we'll see a 600 W Chicago style refactor into flexible office space and maybe some restaurant or retail spaces along the street, but they'll leave the building shell itself intact.
They might be thinking about something like Merch Mart's food court or Illinois Center's tangled indoor pedestrian walkways, but that could be a bit outdated. |
Yeah, there WILL be highrises on the surrounding lots, but certainly not anytime soon and they will probably look absolutely nothing like the pipe dream renderings proposed by Davies. Until the 2.7 million SF of the Post Office building itself is fully or mostly leased, I doubt there will be any talk of towers unless they maybe try to sneak a hotel or a apartments in on the sliver of land next to the building by the river. 2.7 million SF is a TON of space and could take quite a while to lease even if Walgreens comes an gobbles up half of it. Keep in mind that this is almost as big as River Point and 400 N Riverside combined.
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After seeing what they are doing with Fulton Cold Storage, I am convinced that they will find a way to make it work out. The common areas in that building look like they will be pretty flashy and they didn't even have a sexy art deco multi story lobby to work off of. |
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