Quote:
Originally Posted by IrishIllini
I foresee a lot of future office growth being absorbed by the north branch industrial corridor, the south loop, and that weird area just south of the OPO and west of the BNSF rail yard.
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The removal of the PMDs will definitely be opportunities for office growth, but keep in mind that big trophy projects will need to be located near transportation and be as close to the Loop as possible in order to attract large tenants that make their construction feasible. The areas you mention will be more sub markets of the greater downtown area, with 10 to 30 story buildings, at least initially. You won't bee seeing 300 N LaSalle's or 200 N. Riverside's getting built there anytime soon.
Quote:
Originally Posted by IrishIllini
There's still a ton of vacant and underutilized land within a mile or so of State/Madison.
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There's no arguing that. This "problem" that I foresee definitely isn't a problem yet, nor will it be one for several more building cycles. That being said, prime vacant real estate near the core is being consumed at a fast clip. I gladly cheer the disappearance of parking lots, but once those are exhausted things start to get tricky.