CHICAGO | General Developments

[Mr Downtown]

I try to be relentlessly clear-eyed about the prospects of various neighborhoods in a city that isn't growing, but even I think the Michael Reese and Lake Meadows areas are about to have their moments in the sun.

At least as far as 39th/Oakwood, the South Side stigma is rapidly fading. The 2020 census will show a percentage of white and Asian residents in the tracts between IIT and the lake that will astonish people who haven't been paying attention, and lots of them are downtown workers. The same forces that made the South Loop redevelopment mixed-race (but not necessarily mixed-income) will quietly take hold here. There might be some noise about Bronzeville for the Bronze, but it just won't have the energy that the anti-gentrification movement in Pilsen has. Fine-grained Bronzeville has been gone from these two areas for 70 years, and King Drive and The Gap will only be strengthened by new retail in the neighborhood.

Transportation to downtown is already pretty good, and moving the Lake Shore Drive express buses to a corridor (with a stop) right through Burnham Lakefront (the Michael Reese site) will make it even better. So will the new station at 35th for Metra Electric. Farpoint is committed to both of those; they don't depend on some federal largesse or RTA capital projects budget.

The USX site might as well be in another state. Its failure to blossom tells us nothing whatever about the Near South Side lakefront.

[ardecila]

Originally Posted by Mr Downtown

I try to be relentlessly clear-eyed about the prospects of various neighborhoods in a city that isn't growing, but even I think the Michael Reese and Lake Meadows areas are about to have their moments in the sun.

At least as far as 39th/Oakwood, the South Side stigma is rapidly fading. The 2020 census will show a percentage of white and Asian residents in the tracts between IIT and the lake that will astonish people who haven't been paying attention, and lots of them are downtown workers. The same forces that made the South Loop redevelopment mixed-race (but not necessarily mixed-income) will quietly take hold here. There might be some noise about Bronzeville for the Bronze, but it just won't have the energy that the anti-gentrification movement in Pilsen has. Fine-grained Bronzeville has been gone from these two areas for 70 years, and King Drive and The Gap will only be strengthened by new retail in the neighborhood.

Transportation to downtown is already pretty good, and moving the Lake Shore Drive express buses to a corridor (with a stop) right through Burnham Lakefront (the Michael Reese site) will make it even better. So will the new station at 35th for Metra Electric. Farpoint is committed to both of those; they don't depend on some federal largesse or RTA capital projects budget.

The USX site might as well be in another state. Its failure to blossom tells us nothing whatever about the Near South Side lakefront.

I agree South Works and Bronzeville do not rise/fall in unison. South Works is another 20 minutes of commute time, and is separated from the island of success in Hyde Park by South Shore which is very much still in decline.

[west-town-brad]

south side lakefront building boom continues:
https://www.chicagobusiness.com/resi...le-campus-sale

[UPChicago]

^ for those of us without a subscription what is the article about?

[cityofneighborhoods]

The article also says 43 homes have sold over $500,000 in Bronzeville in the last six months

[west-town-brad]

Originally Posted by Busy Bee

I'm clearly not talking about a few sporadic Hyde Park condo buildings. I'm talking about the demand for a multi-thousand unit ground up redevelopment. Please don't put words in me mouth.

sorry to say but the southside lakefront is hot right now.

$500k new build single family houses a few blocks from the lakefront. 5 minute drive to the loop.

way way way more expensive than that in hyde park.

[ardecila]

Originally Posted by west-town-brad

sorry to say but the southside lakefront is hot right now.

$500k new build single family houses a few blocks from the lakefront. 5 minute drive to the loop.

way way way more expensive than that in hyde park.

Yes... but will this demand for SFH and townhouses translate into a huge demand for multifamily? Two separate ends of the market.

Right now it seems like the Bronzeville buyer is someone who plans to drive a lot, but wants a big, reasonably priced house close to downtown. If they have kids, they're comfortable with private schools or magnets. It looks like a big chunk of the Lake Meadows plan is townhouses, so maybe those can get off the ground... but the highrises seem more questionable. I also see lots of smaller-scale projects getting off the ground in Bronzeville, those seem easier to sell and finance, but the huge redevelopments with infrastructure costs and environmental issues haven't got off the drawing boards.

Also the mixed-income projects at Oakwood Shores, Park Boulevard, and Legends South have been just utterly stalled for more than a decade, CHA and their pet developers can't make anything happen when they are pinched between consent decrees that mandate the replacement of public housing units, precious few subsidies for building them, and low "market rates" that can't subsidize public and affordable housing units either. Plus environmental costs and prevailing wage requirements that increase costs. If you wanted to design a system that produced no public housing, you couldn't do much better...

[UPChicago]

I just bought a townhome in Bronzeville myself and as soon as I moved in five townhomes started construction across the street.

[the urban politician]

Originally Posted by UPChicago

I just bought a townhome in Bronzeville myself and as soon as I moved in five townhomes started construction across the street.

Glad you shared that. I have stated since I joined this forum that the true and full revitalization of Chicago—no matter how many high rises get built downtown—absolutely requires widespread, self-sustaining, privately financed investment on the south side.

We’re not there yet, but I do think we are continuing to move in that direction.

[Handro]

Originally Posted by UPChicago

I just bought a townhome in Bronzeville myself and as soon as I moved in five townhomes started construction across the street.

My girlfriend and I hope to purchase there within the next couple of years. Initially (5ish years ago) we hoped to get some kind of steal... probably missed the boat on that.

[tjp]

The apartment project at Wilson and Broadway is being taken over by John Buck Company. I think that increases the odds of it actually happening, and I hope they'll make some positive changes to the design - the article mentions they're making some cosmetic changes that need approval.

https://www.uptownupdate.com/2020/04...cks-books.html

[RedCorsair87]

Originally Posted by tjp

The apartment project at Wilson and Broadway is being taken over by John Buck Company. I think that increases the odds of it actually happening, and I hope they'll make some positive changes to the design - the article mentions they're making some cosmetic changes that need approval.

https://www.uptownupdate.com/2020/04...cks-books.html

I hope they improve the design. Density-wise, it is a great anchor for that corner which is otherwise a dump.

[UPChicago]

Originally Posted by Handro

My girlfriend and I hope to purchase there within the next couple of years. Initially (5ish years ago) we hoped to get some kind of steal... probably missed the boat on that.

Yea there are deals but they come along rarely. I put an offer on my place the third day it was listed and was competing with three other buyers. I barely was able to see the place before it was off the market.

[harryc]

April 23

Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr

Chicago FireProof brick - being used to insulate the steel girders ( like the flocking used these days ).
Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr

Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr
Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr
Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr

Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr

Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr

Escalator Space ?
Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr

Chicago | Tribune Tower Rehab by Harry Carmichael, on Flickr

[BrinChi]

Originally Posted by UPChicago

I just bought a townhome in Bronzeville myself and as soon as I moved in five townhomes started construction across the street.

Where u at? I just bought a renovated SFH last year as well. I'm in the Gap. Definitely feels like the neighborhood is on the upswing. Though it's a big area to develop if you consider Bronzeville goes from 25th to 51st. And along with new luxury inventory, there's plenty of affordable condos to be had for any budget.

[PittsburghPA]

5/1 Fulton East They started the facade on the shear wall. It appears to be faux woodgrain

[ardecila]

Originally Posted by PittsburghPA

5/1 Fulton East They started the facade on the shear wall. It appears to be faux woodgrain

I believe this is Prodema... it's real wood veneer laminated to a plastic panel, and then dipped in another clear plastic resin to protect the veneer.

I was skeptical of how it would fare in Chicago's climate, but they used it at a school out in Galewood and it still looks good after almost 10 years.

[PittsburghPA]

Originally Posted by ardecila

I believe this is Prodema... it's real wood veneer laminated to a plastic panel, and then dipped in another clear plastic resin to protect the veneer.

I was skeptical of how it would fare in Chicago's climate, but they used it at a school out in Galewood and it still looks good after almost 10 years.

Awesome insight. Thanks

[Natoma]

Originally Posted by PittsburghPA

5/1 Fulton East They started the facade on the shear wall. It appears to be faux woodgrain

Hah, it looks the inside of Bob's office in The Bob Newhart Show.

[Razorback]

Originally Posted by ardecila

I believe this is Prodema... it's real wood veneer laminated to a plastic panel, and then dipped in another clear plastic resin to protect the veneer.

I was skeptical of how it would fare in Chicago's climate, but they used it at a school out in Galewood and it still looks good after almost 10 years.

I too was worried how that wood paneling would turn out. I googled wood veneers from Prodema and I'm blown away how clean and unique this texture adds to an office building.

I think this is the type of urban diversity needed in areas like the West Loop to break up the "warehouse look" that is so common in that area.

I'm now anxiously anticipating the final product once completed.

Thanks for the insight!