CHICAGO | General Developments

[SolarWind]

August 22, 2022

[SolarWind]

Originally Posted by WestTowner

Guinness Brewery

Looks like they are going backward on this. Ouch. Anyone know the story

April 4, 2022



April 26, 2022



August 22, 2022

[SolarWind]

Originally Posted by r18tdi

Here's the condo building replacing that demolished 1860s pre-fire building at 116 N. Willard Court in the West Loop:

Via Crain's

August 22, 2022

[Busy Bee]

Less grey. More better.

[Randomguy34]

The only three colors that exist in Fulton Market are black, red, and glass...

[Chi-Sky21]

and orange,,,,,and yellow. They have done pretty good in my book.

[rivernorthlurker]

https://www.prnewswire.com/news-rele...301448969.html

In 2018, TAG, one of the nation's largest and fastest growing healthcare support organizations, relocated its corporate headquarters from Syracuse, N.Y. to W. Randolph St. in Chicago, pledging to bring 250 new jobs to the city. Now, the company is once again expanding its footprint in Chicago.

TAG signed a 14-year lease agreement to take over 200,000 square feet of the new state-of-the-art 800 W. Fulton Market building.

Originally Posted by SolarWind

August 22, 2022

[rivernorthlurker]

Feels like there should be a law in Chicago about protecting all brick/masonry buildings that survived the fire. I know there won't be. Bummer.

Originally Posted by r18tdi

Here's the condo building replacing that demolished 1860s pre-fire building at 116 N. Willard Court in the West Loop:

Via Crain's

[BrinChi]

Originally Posted by Busy Bee

Yeah, but custard? I mean seriously what do people see in custard? Is that just me?

It's not about what we see. Everything to do with what we taste.

Culver's is good custard, but Kopps (available at a couple WI locations only) is the authentic thing.

[Steely Dan]

Originally Posted by BrinChi

It's not about what we see. Everything to do with what we taste.

Culver's is good custard, but Kopps (available at a couple WI locations only) is the authentic thing.

my wife is originally from milwaukee, so we had frozen custard served at our wedding.

to find the very best custard we actually did a blind taste test from 4 different renowned milwaukee area custard places (kopps, oscar's, leon's, and gilles)) with her whole family.

for a plain vanilla frozen custard (to serve along with our wedding cupcakes), Oscar's was the winner of the contest.

[r18tdi]

919 Fulton landed an anchor, according to Crain's. We keep hearing the office market is struggling and yet projects like these keep marching forward.



Fulton Market office building lands anchor tenant
Harrison Street Real Estate Capital is nearing a deal to more than triple the size of its headquarters and move it to the former meatpacking district.
https://www.chicagobusiness.com/comm...capital-anchor

[galleyfox]

Originally Posted by r18tdi

919 Fulton landed an anchor, according to Crain's. We keep hearing the office market is struggling and yet projects like these keep marching forward.

I think it depends on the class of the building especially in older ones, and probably some sublease and pricing questions, but other organizations were much more optimistic than Crain’s.

Originally Posted by Klippenstein

You might want to look at what Moody's has to say about it.

https://cre.moodysanalytics.com/insi...q2-absorption/

Across all four major commercial real estate sectors – office, multifamily, retail, and industrial – the Windy City came out strong in the second quarter. Particularly intriguing is Chicago’s office market performance. Last quarter’s net absorption for Chicago finished highest in the country and it wasn’t even close. A good marker for demand, Chicago’s increase in occupied square footage of 2.4 million towered over second place Dallas at 0.9 million SF and completely obliterated the national trend (-8.4 million SF[2]).

This is also far from a random one-off fluke. The Chicago office market has the highest level of net absorption in the country since the start of the pandemic – beginning in Q3 of last year, occupied stock has positively changed all four quarters, rising 5.6 million SF and also topping the list across the US.

[thegoatman]

Let's goooooo

Can't wait for this building to start, there shouldnt be a vacant lot across from one of the most popular eateries in the city (timeout market), this will liven up the whole area.

[Zimme]

Originally Posted by Steely Dan

my wife is originally from milwaukee, so we had frozen custard served at our wedding.

to find the very best custard we actually did a blind taste test from 4 different renowned milwaukee area custard places (kopps, oscar's, leon's, and gilles)) with her whole family.

for a plain vanilla frozen custard (to serve along with our wedding cupcakes), Oscar's was the winner of the contest.

This is very true. I grew up is the Milwaukee suburbs and Oscar's has always been my favorite frozen custard - especially for vanilla and their turtle sundaes.


Culver's custard is good for what it is but definitely doesn't compare to the other authentic places around Milwaukee.

[OrdoSeclorum]

Originally Posted by galleyfox

I think it depends on the class of the building especially in older ones, and probably some sublease and pricing questions, but other organizations were much more optimistic than Crain’s.

So the amount of office space leased last quarter in Chicago was 2.5x higher than any other city? At a time while the U.S. on balance is shedding leases? And vacancy is as low as it's been since 2017 and is heading lower? Jesus.

[Razorback]

Hells Yeah!!!

I wonder whether this would prompt Gibson's Restaurant Group to lease the 15k store space reported a few months ago.


https://therealdeal.com/chicago/2022...&utm_medium=af

Originally Posted by r18tdi

919 Fulton landed an anchor, according to Crain's. We keep hearing the office market is struggling, yet projects like these keep marching forward.



Fulton Market office building lands anchor tenant
Harrison Street Real Estate Capital is nearing a deal to more than triple the size of its headquarters and moves it to the former meatpacking district.
https://www.chicagobusiness.com/comm...capital-anchor

[Mr. Chicago]

Mr. Chicago here,
I was in Chicago recently on my annual pilgrimage two weeks ago and was quite pleased with what I saw, My walking tour took me from my usual garage on St,Clair and Grand, along the river and down Randolph to May. Glad to see the high rises are not lining Randolph leaving the older buildings to add to the character to the area. Speaking of character, the garage on St. Clair has personality much like a Christmas tree. The south end of the loop around Jackson an stand some infusion of life but it was clean and with much potential.

Now for other details. You know I am a big Chicago fan which also includes an honest assessment pf something that is overlooked---INFRASTRUCTURE.
Wacker drive by the Vista is turning into granola; the high and mighty will notice the decay. Furthermore some of the railroad bridges are on the verge of collapse. I know this subject is somewhat beyond the scope of this thread but you know Kansas City-Southern is building a new link connecting deep Mexico to Canada. Chicago could become a bit out of the way if the lines in the city fall apart. On to the neighborhoods

The neighborhoods look environmentally sound meaning well forested. Drove down Roosevelt Road and is has that settled quality about the place. But we know the area is not complete--any news on when Roosevelt Square will start up construction again? Ogden is developing nicely. Has anybody ever seen Green Street In Urbana by the university? It is a good model for Ogden--a sort of Montreal ,Illinois. New City is a disappointment open the windows to the street and see Clybourn come alive. Any new on filling in the area along Clybourn and Larrabee?

Walked up Michigan from Roosevelt to the Oak beach. Spoke to the 5013c people. We both agreed. Crime? We did not feel it Anyway please consider the idea of making the Mag Mile into an international Mag Mile with more foreign retail and that way the area will be very unique.

What gives Chicago its magic is that all the buildings stand out very unlike NYC. Truly a remarkable city. Thanks Chicago.

[Vlajos]

Originally Posted by OrdoSeclorum

So the amount of office space leased last quarter in Chicago was 2.5x higher than any other city? At a time while the U.S. on balance is shedding leases? And vacancy is as low as it's been since 2017 and is heading lower? Jesus.

Yeah, this is freaking amazing. Really, really good news!

[galleyfox]

Originally Posted by OrdoSeclorum

So the amount of office space leased last quarter in Chicago was 2.5x higher than any other city? At a time while the U.S. on balance is shedding leases? And vacancy is as low as it's been since 2017 and is heading lower? Jesus.

Well, I’ve been wondering what the situation was since the Thompson Center sale, when Reschke mentioned offhandedly that the Thompson Center/115 S LaSalle transaction would reduce Central Loop vacancy down to 16%.

(I believe that was a Q3 transaction, correct me if I’m wrong. Lol)

And the local office developers have been a little too gung ho in recent months.

Reschke said Google’s move alone will cut the vacancy rate in the central Loop from 22% to 16%, a rate that he said beats national averages.

https://chicago.suntimes.com/2022/7/...nter?_amp=true

[thegoatman]

Nice to see Chicago doing better than its peers, usually its always lagging. Would love to see another corporate relocation here...anything to fix our PR.