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Old Posted Nov 18, 2006, 7:17 AM
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South Loop vacant land roundup

Maybe I can add a little information on the big South Loop parcels:

Riverside Park 62 acres bounded by Clark, the river, Roosevelt, and 16th. Access is the big problem. Everyone, including the developer, wanted to find a way to extend the street grid into the site, but couldn’t figure out how to do it because of Metra. The approved PD includes a riverwalk, a new Wells-Wentworth (80-foot ROW) arterial through the site, and a V-shaped drive lined with a town center (topped with residential) at Roosevelt level, atop a three-level parking deck. Except for the townhouses at the south end, it pretty much has to be built in one chunk. When Tony Rezko got into the papers, the city backed away from the TIF financing. General Mediterranean took an ownership position, and DeBartolo announced they would take on the retail part (by now called the Riverside Connection), then they backed out. The property is being shopped around, but some of it may be encumbered by involvement with Rezko’s deals.

LaSalle Park Clark to Wells, Polk to Roosevelt—excluding the Lennar parcel SWC Clark/Polk and a couple of parcels SEC Wells/Polk. LaSalle Park was the name used when PD 523 was approved in 1991, anticipating office buildings along Clark and residential along Wells. Almost nothing is being developed as prescribed by the PD, but it’s all been handled by administrative amendments rather than a true replanning. First the Target, then The Curve, AMLI’s 900 S Clark, and now the Roosevelt Connection have been carved out of this PD. Southgate Market (west of the river) and stuff north of Polk are not part of LaSalle Park.

Roosevelt Connection Metra tracks to Wells, Roosevelt to 9th. The basics of this project are well known. The main parking and delivery entrances are from Wells, which gets treated rather badly, with blank parking garage walls. Developer says they can do no better because they don't know what Cacciatore will do across the street. Steps at the north end cascade down into a new park (2.8 acres as I recall).

Cacciatore property Wells to the river, south of River City to Roosevelt. No plans have been sighted. A 30-foot riverwalk will almost certainly be, ahem, offered.

Franklin Point Wells to the river, north of River City to Harrison. Site of the old Grand Central Station, there’s been no shortage of ambitious plans over the last two decades. I’ve heard that D2 has optioned or purchased a small part near Polk. Frankel & Giles is trying to market the part near Harrison; maybe all of it.

Here's a map showing the various parcels:
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