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  #48541  
Old Posted May 8, 2021, 6:21 PM
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Originally Posted by Busy Bee View Post
It is sort of akin to the aluminum sided garage behind the stately blonde brick bungalow, no?
Haaa. yes
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  #48542  
Old Posted May 8, 2021, 9:01 PM
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550 w Randolph looks like it might have started it's reno/expansion. Signage on the old entrance on Clinton has said for a while that that tenant has moved—green fencing and dumpsters are new




I quite like this bit of spectacle added to the new base

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  #48543  
Old Posted May 9, 2021, 3:13 AM
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Originally Posted by Busy Bee View Post
It is sort of akin to the aluminum sided garage behind the stately blonde brick bungalow, no?
Honestly looks like it belongs in Seattle
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  #48544  
Old Posted May 9, 2021, 3:58 AM
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Ran the numbers for April for how many sales I could find in the city proper where the sale price was greater than the list price. I found at least 600 of them, which greatly surpasses the other months of the year.

April 2021: 600
March 2021: 306
January 2021: 172
February 2021: 125

All in all, that's 1203 sales this year from January 1 - April 30 where sale price > list price (https://www.google.com/maps/d/viewer...7.7091955&z=13)

For April 2021 here's the top areas:
1. West Town: 50 sales
2. Lake View: 33
3. North Center: 27
4. Uptown: 26
5. Logan Square: 23
6. Lincoln Park: 20
7T. Near West Side: 19
7T. Portage Park: 19
9T. Irving Park: 17
9T. Near North Side: 17
11T. Near South Side: 16
11T. Rogers Park: 16
13. Norwood Park: 15
14T. Auburn Gresham: 14
14T. Roseland: 14
16T. Avondale: 13
16T. Dunning: 13
16T. Lincoln Square: 13
19T. Austin: 11
19T. Edgewater: 11
21T. Albany Park: 10
21T. Belmont Cragin: 10
21T. Chatham: 10
21T. Clearing: 10
25T. Bridgeport: 9
25T. The Loop: 9

For 2021 in total from Jan 1 - Apr 30:
1. West Town: 78 sales
2T. Lake View: 54
2T. Near West Side: 54
4. Logan Square: 41
5. North Center: 38
6T. Portage Park: 37
6T. Uptown: 37
8. Auburn Gresham: 35
9T. Near North Side: 34
9T. Near South Side: 34
11. Lincoln Park: 31
12T. Austin: 29
12T. Irving Park: 29
14. Roseland: 28
15. Rogers Park: 27
16. Norwood Park: 25
17T. Belmont Cragin: 24
17T. Chatham: 24
19. Lincoln Square: 23
20. Ashburn: 22
21T. Dunning: 21
21T. West Pullman: 21
23. Washington Heights: 20
24T. Albany Park: 19
24T. Garfield Ridge: 19
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  #48545  
Old Posted May 9, 2021, 4:48 AM
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Quote:
Originally Posted by marothisu View Post
Ran the numbers for April for how many sales I could find in the city proper where the sale price was greater than the list price. I found at least 600 of them, which greatly surpasses the other months of the year.

April 2021: 600
March 2021: 306
January 2021: 172
February 2021: 125

All in all, that's 1203 sales this year from January 1 - April 30 where sale price > list price (https://www.google.com/maps/d/viewer...7.7091955&z=13)

For April 2021 here's the top areas:
1. West Town: 50 sales
2. Lake View: 33
3. North Center: 27
4. Uptown: 26
5. Logan Square: 23
6. Lincoln Park: 20
7T. Near West Side: 19
7T. Portage Park: 19
9T. Irving Park: 17
9T. Near North Side: 17
11T. Near South Side: 16
11T. Rogers Park: 16
13. Norwood Park: 15
14T. Auburn Gresham: 14
14T. Roseland: 14
16T. Avondale: 13
16T. Dunning: 13
16T. Lincoln Square: 13
19T. Austin: 11
19T. Edgewater: 11
21T. Albany Park: 10
21T. Belmont Cragin: 10
21T. Chatham: 10
21T. Clearing: 10
25T. Bridgeport: 9
25T. The Loop: 9

For 2021 in total from Jan 1 - Apr 30:
1. West Town: 78 sales
2T. Lake View: 54
2T. Near West Side: 54
4. Logan Square: 41
5. North Center: 38
6T. Portage Park: 37
6T. Uptown: 37
8. Auburn Gresham: 35
9T. Near North Side: 34
9T. Near South Side: 34
11. Lincoln Park: 31
12T. Austin: 29
12T. Irving Park: 29
14. Roseland: 28
15. Rogers Park: 27
16. Norwood Park: 25
17T. Belmont Cragin: 24
17T. Chatham: 24
19. Lincoln Square: 23
20. Ashburn: 22
21T. Dunning: 21
21T. West Pullman: 21
23. Washington Heights: 20
24T. Albany Park: 19
24T. Garfield Ridge: 19
Here's the number of homes sold in what Redfin calls "The Loop" over the last year:



Boundaries appear to be Roosevelt and the river.
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  #48546  
Old Posted May 9, 2021, 12:34 PM
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^^ Noticeably absent, McKinley, Little Village, Brighton Park, Pilsen. Are those near SW communities represented in another district above? I dont think Bridgeport covers them.

Most encouraging is Auburn Gresham, Ashburn, Wash Hts, Roseland and Chatham.
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  #48547  
Old Posted May 9, 2021, 12:59 PM
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^ Pilsen is under “Lower West Side”

I think it’s housing market (SFH at least) has not yet gentrified fully. It’s still full of student/college grad renters and older immigrant homeowners.
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  #48548  
Old Posted May 9, 2021, 3:28 PM
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Quote:
Originally Posted by jpIllInoIs View Post
^^ Noticeably absent, McKinley, Little Village, Brighton Park, Pilsen. Are those near SW communities represented in another district above? I dont think Bridgeport covers them.

Most encouraging is Auburn Gresham, Ashburn, Wash Hts, Roseland and Chatham.
Quote:
Originally Posted by the urban politician View Post
^ Pilsen is under “Lower West Side”

I think it’s housing market (SFH at least) has not yet gentrified fully. It’s still full of student/college grad renters and older immigrant homeowners.
Also remember, the data I collected is purely on properties which sold for above their original list price (I have some standards - it would probably be more by others standards because they will just take the last "List" price even if there was a list record a month previous for the same property).

By my count, about 19% of all sales in the city (that I can see) in April sold for at or above their original list price. There were a bunch I couldn't get data on so it's probably 20%+.


Also I should have noted the numbers included multi unit buildings. Most of those sold in the records are small (2 or 3 units). So here's the breakdown from Jan 1 - Apr 30...


SFH
1. Portage Park: 28 SFH sales above list price
2. Auburn Gresham: 24
3T. Belmont Cragin: 23
3T. Norwood Park: 23
3T. Roseland: 23
6. Ashburn: 21
7T. Garfield Ridge: 18
7T. Washington Heights: 18
7T. West Pullman: 18
10. Chatham: 17
11. Irving Park: 16
12. Dunning: 15
13. Morgan Park: 14
14. Clearing: 13
15. West Lawn: 12
16T. Beverly: 11
16T. Logan Square: 11
18T. Austin: 10
18T. Greater Grand Crossing: 10
18T. Jefferson Park: 10
18T. Lincoln Square: 10
18T. Mount Greenwood: 10
18T. West Englewood: 10
24. Forest Glen: 8
25T. Albany Park: 7
25T. North Center: 7
25T. West Town: 7


Condo/Townhomes
1. West Town: 69 Condo/Townhome sales above list price
2. Near West Side: 52
3. Lake View: 48
4. Uptown: 36
5T. Near North Side: 34
5T. Near South Side: 34
7. Lincoln Park: 29
8. Logan Square: 27
9. North Center: 26
10. Rogers Park: 23
11. The Loop: 13
12. Edgewater: 12
13. Avondale: 11
14. Lincoln Square: 10
15T. Albany Park: 9
15T. Irving Park 9

Multi Unit Building
1. Austin: 19 multi unit building sales above list price
2. Auburn Gresham: 10
3. Brighton Park: 9
4. North Lawndale: 8
5T. Chicago Lawn: 7
5T. Greater Grand Crossing: 7
5T. Little Village: 7
5T. New City: 7
9T. Chatham: 6
9T. Portage Park: 6
9T. South Shore: 6
9T. West Garfield Park: 6
13T. Roseland: 5
13T. Washington Park: 5
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  #48549  
Old Posted May 10, 2021, 3:46 PM
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I found this interesting, as is being played out in Pilsen (this trend towards having "spot" fees and "spot" policies in various places in the city troubles me, though):

Quote:
May 10, 2021 09:51 AM UPDATED 47 MINUTES AGO
Pilsen demolitions resume with anti-gentrification fees attatched

The owners of a trio of buildings on 18th Street are the first to pay the $15,000-per-building surcharge, with the money going toward affordable housing.

Dennis Rodkin


The owners of a trio of vintage buildings on 18th Street in Pilsen are the first to take out demolition permits under the city’s new anti-gentrification plan that tacks $15,000 onto the existing cost of taking out a permit.

The Chicago City Council in late March approved the surcharge for demolitions in most of Pilsen and along the western reaches of the 606 Trail as a way to slow gentrification that displaces long-term residents.


The $45,000 “will bring benefits to our community that this development wouldn’t have brought in” prior to the new rules, said Pilsen-area Ald. Byron Sigcho-Lopez, 25th.


The $15,000-per-building fee will act as a disincentive to demolition in some cases, Sigcho-Lopez said, but “these developers saw it would still be profitable for them, with the fees.”


The buildings, just west of the 18th Street station on the CTA’s Pink Line, are owned by a limited liability company called Fox Chicago, which is not related to the television station. It’s associated with Oak Park-based development firm R.P. Fox & Associates and its affiliate, Fox Investment Management.


Mike Fox, an executive with the firm, did not respond to a request for comment; neither did Maria Cristiano, an attorney at the Oak Park law firm Pellegrini & Cristiano who is listed as the LLC’s agent.

Sigcho-Lopez confirmed the trio of permits—which first surfaced last week on Chicago Cityscape, an online permit-tracker—are the first demolitions in Pilsen since the new surcharge took effect. Crain's could not determine when the demolition is scheduled to occur.

The three buildings contain a total of 17 apartments, according to the Cook County Assessor. Built between 1894 and 1914, they are on a block of mostly the same vintage. A new replacement building would be the first on the block since the middle of the 20th century, from the look of the neighboring structures. In a four-block stretch of 18th Street, there are only three or four structures built in the 21st century.

It’s the second attempt at demolition for these three buildings. In 2019, Fox executives withdrew a plan to raze the buildings, according to Block Club Chicago, and said they would rehab the structures instead.

At the time, the city was considering landmarking a swath of Pilsen containing hundreds of buildings in an attempt to slow gentrification. If the owners of these three buildings had pursued demolition, city officials would have been forced to make a quick decision on the landmark district proposal.

By switching their plan to rehab, Sigcho-Lopez said at the time, the owners gave the Pilsen community time to fully mull over the landmarking proposal. The landmark plan died in December 2020, and in March a new package of anti-gentrification ordinances, including the demolition surcharge, was approved.


Now that Fox has switched its plan back to demolition, Sigcho-Lopez said he is disappointed but “not surprised” and reiterated that he believes the $45,000 contribution toward affordable housing “does something that is needed in the community.”

Fox’s plan for the three-building site is not clear. Sigcho-Lopez said nothing has been submitted to him yet, but that the firm’s 2019 plan “was fine for the block, as I remember it.”

The 2019 proposal was for a four-story building with street-level retail and nine apartments on the upper three floors.


Fox may have made the calculation that it could offset the $45,000 by charging higher prices for the units it builds on the site, whether for rent or for sale. In the two years since the firm first proposed demolition, the cost of both types of housing have risen.

Fox bought the three buildings in June 2016 for $950,000, according to the Cook County Recorder of Deeds. They appear to have been vacant since 2019, when the Sun-Times reported a gift shop that had been in the center building for 19 years was closing so the buildings could be demolished.

The other two businesses, a used furniture store and a candy store, had already closed by that time.
https://www.chicagobusiness.com/resi...-fees-attached
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  #48550  
Old Posted May 10, 2021, 3:50 PM
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In case anyone wants to know what's being demo'd
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  #48551  
Old Posted May 10, 2021, 4:03 PM
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Quote:
Originally Posted by the urban politician View Post
I found this interesting, as is being played out in Pilsen (this trend towards having "spot" fees and "spot" policies in various places in the city troubles me, though):



https://www.chicagobusiness.com/resi...-fees-attached
curious as to the "benefits to the community" cited by the alderman.
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  #48552  
Old Posted May 10, 2021, 4:26 PM
the urban politician the urban politician is offline
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^ I first of all don't agree with the whole idea of various demolition fees at various sites of the city.

But this being Chicago and with leaders trying to have as many political "tools" at their disposal as they can, I would say that this is effectively a tax on gentrification in order to create subsidized housing.

It is the Alderman's admission that there is probably nothing he can do to stop gentrification, so we might as well shake um down a tad so I can show my voters that I'm doing something about it.
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  #48553  
Old Posted May 10, 2021, 4:35 PM
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https://blockclubchicago.org/2020/10...-in-west-loop/



I see a tower crane permit for phase 1 foundation for 1371 W Randolph, I believe it's for this parking garage for the Plumbers Union. Sucks to see a parking garage, but at least there is ground floor retail instead of a surface lot.
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  #48554  
Old Posted May 10, 2021, 4:38 PM
OrdoSeclorum OrdoSeclorum is offline
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Quote:
Originally Posted by the urban politician View Post
^ I first of all don't agree with the whole idea of various demolition fees at various sites of the city.

But this being Chicago and with leaders trying to have as many political "tools" at their disposal as they can, I would say that this is effectively a tax on gentrification in order to create subsidized housing.

It is the Alderman's admission that there is probably nothing he can do to stop gentrification, so we might as well shake um down a tad so I can show my voters that I'm doing something about it.
I'm not sure what's best.

But I do know that there are sometimes perverse incentives in development that are often created due to other regulations. There are benefits to the community and the city present in some buildings that are unpriced and difficult to generate revenue from by the land owner. I believe that allowing the market to do what it wants is the right move most of the time in real estate. But I'm also certain there occasions where the short-term profit motives of a landowner don't result in the best outcome for anyone. This is called a "multi-polar trap" in game theory and to be resolved optimally external influence is required.
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  #48555  
Old Posted May 10, 2021, 4:59 PM
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^ Ugly, looks like some kind of Medical office building
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  #48556  
Old Posted May 10, 2021, 7:05 PM
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looks like a spruced up parking garage to me
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  #48557  
Old Posted May 10, 2021, 8:25 PM
the urban politician the urban politician is offline
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^ I know I'll get spanked silly for saying this, but I'm glad that the garage is getting built.

If WL/Fulton market wants to really rival River North and become its own destination apart from the majesty and prestige further east, it MUST have some off street parking. Yes, we all want people to use transit, but realistically speaking you need to have some garages.

I'm guessing that the Plumbers Union will be smart enough to make their garage available for the paying public
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  #48558  
Old Posted May 10, 2021, 8:28 PM
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Quote:
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looks like a spruced up parking garage to me
It IS a spruced up parking garage lol

I think it looks fine. For a parking garage.
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  #48559  
Old Posted May 10, 2021, 9:26 PM
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Tom In Chicago Tom In Chicago is offline
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Originally Posted by sentinel View Post
It IS a spruced up parking garage lol

I think it looks fine. For a parking garage.
Agreed. . . doesn't look bad. . . for a parking garage. . .

. . .
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  #48560  
Old Posted May 10, 2021, 9:48 PM
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Originally Posted by Tom In Chicago View Post
Agreed. . . doesn't look bad. . . for a parking garage. . .

. . .


A garage that doesn't crush the soul on sight. That's a positive I suppose.
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