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  #48321  
Old Posted Mar 4, 2021, 12:17 AM
the urban politician the urban politician is online now
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^ It will be a huge money loser for the new owner unless they can get more elective procedures done there, as well as getting more people with private insurance into that hospital and any affiliated clinics.

That can only be addressed through population growth and development in the nearby area. Perhaps the new owners are expecting that to happen?

Or perhaps this is some massive tax write-off scheme? Who knows? But I'm glad that this hospital isn't closing.
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  #48322  
Old Posted Mar 4, 2021, 12:25 AM
SamInTheLoop SamInTheLoop is offline
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Originally Posted by the urban politician View Post
Marquette is obviously bullish on the rebound.

More power to them, hopefully they get lavishly rewarded for their efforts

I agree and really admire the conviction. And fwiw I think their optimism for the apartment market is pretty well-founded. The vaccine situation is looking very encouraging. I also think that their - at least for the time being - concentration in the W Loop/near west side makes a lot of sense given that
a disproportionate amount of development in the greater area had been commercial or slated for future commercial, but now a couple interesting developments:

1) north of (is it Randolph or Lake?) restriction on Fulton Market residential is being lifted

2) there's definitely been a progressive further easing of historical height limitations (aldermanic prerogative in reaction to neighborhood position) recently and I'm sure more to come

Now, it's quite possible there could in relatively short order be a rush to residential in the area by a plethora of developers, and then the supply-demand dynamics may change (though that's tricky because you could also get into a sort of agglomeration/gentrification supercycle where the area benefits from a real supply inducement effect and the additional luxury living options create self-reinforcing demand - at least for a time, certainly.

Still, no matter what, if Marquette is generally on the right track with their conviction here, they'll still enjoy the proceeds commensurate with their first-mover advantage (in terms of very large scale prospective post-pandemic rental development in the area)
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Last edited by SamInTheLoop; Mar 4, 2021 at 12:45 AM.
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  #48323  
Old Posted Mar 4, 2021, 1:45 AM
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ardecila ardecila is offline
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Originally Posted by SamInTheLoop View Post
1) north of (is it Randolph or Lake?) restriction on Fulton Market residential is being lifted
Restrictions lifted between Lake and Hubbard, Halsted to Ogden.
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  #48324  
Old Posted Yesterday, 5:12 PM
ChiPlanner ChiPlanner is offline
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3/3- Wilson and Broadway Redevelopment

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  #48325  
Old Posted Yesterday, 9:33 PM
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Tribune Rehab - 435 N Michigan

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Old Posted Today, 3:51 AM
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176 N Wells - or some vanity address

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  #48327  
Old Posted Today, 1:09 PM
the urban politician the urban politician is online now
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I drove by Belmont and Elston the other day, the project going up on that corner is almost topped out. It really looks nice from what I can gather. We need more buildings like that built throughout the neighborhoods
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  #48328  
Old Posted Today, 1:52 PM
marothisu marothisu is online now
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Originally Posted by the urban politician View Post
I drove by Belmont and Elston the other day, the project going up on that corner is almost topped out. It really looks nice from what I can gather. We need more buildings like that built throughout the neighborhoods
Are you talking about this or something else?

https://therealdeal.com/chicago/2018...x-in-avondale/

Also speaking of Elston...demo permits were issued for the former Stanley's building at North & Elston and the 1 story building next to it on North Ave. I know that the owner of Novak Construction owns at least the Stanley's building but said it could be 5-10 years before he does anything with it (said last year). Anybody know if plans changed or if it has something more to do with tax?
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  #48329  
Old Posted Today, 3:09 PM
the urban politician the urban politician is online now
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^ Yes that’s it.

Fills in that corner nicely, and so far has a nice, thick masonry look. I know that it’s not cutting edge copulating insects stuff, but good filler
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