Two Loop Observations this Week
1) Scaffolding going up at Oriental Theater tower - looks like construction of its conversion to Cambria hotel might be gearing up.....
2) Walking by the Subway at/near 300 N Michigan yesterday, I saw someone putting up a store closing soon sign. This will be the last of the retail tenants to clear out of this redevelopment parcel......not sure if any straggling upstairs tenants are left, though this might potentially indicate at least a small step closer to demolition here, and maybe, just possibly construction of a new project as well?? Anyone know of any movement here? I'm still hoping Sterling Bay sells to an experienced new construction/high-rise/mixed-use developer to do this project (and if they or someone else decides to do low-rise retail only here, I'm going to lose it, as that would be beyond stupid) - it's not their specialty #1, and #2 - I think they just may have an enormous project coming up on the horizon which fits their specialty nicely, and that will keep their plate full for some time to come (as if anyone here doesn't know what that is)....
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It's simple, really - try not to design or build trash.
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