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Old Posted Apr 26, 2016, 4:08 AM
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ardecila ardecila is offline
TL;DR
 
Join Date: Jun 2006
Location: the city o'wind
Posts: 15,674
Quote:
Originally Posted by maru2501 View Post
it's insane that's still vacant. Look at the location. It's ridiculous
There's tons of vacant land in and around downtown Chicago. That's one of the reasons our city is so affordable compared to coastal cities. There's just this enormous band of post-industrial and railyard land surrounding the Loop.

This particular site is on the (smelly) South Branch, with no lake views and it's not within easy walking distance of dining, entertainment or transit.

The reason this site is getting developed now is A) the South Loop north of Roosevelt is getting filled up, and B) various park and riverwalk investments have caused Chicagoans to re-evaluate the way they see the River.

Bertrand Goldberg saw potential here back in the 70s, but the market did not agree with him. We'll have to see if well-heeled renters are willing to live in this location (the strong leasing at the AMLI projects indicates yes).
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