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  #49881  
Old Posted Jan 18, 2022, 4:58 AM
Rizzo Rizzo is offline
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The southbound merger is different actually. It appears it will now merge right at the station. Right now it's running on the purple line tracks, but the brown line track will be extended to Belmont with the track switch at the end of the platform.
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  #49882  
Old Posted Jan 18, 2022, 2:42 PM
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Oh haha. The answer was right in front of me. Ok thanks for clarifying!
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  #49883  
Old Posted Jan 18, 2022, 3:50 PM
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Originally Posted by Rizzo View Post
The southbound merger is different actually. It appears it will now merge right at the station. Right now it's running on the purple line tracks, but the brown line track will be extended to Belmont with the track switch at the end of the platform.
This is only a temporary structure (over the alley) for the southbound Brown Line track while the original 4-track Main Line structure is replaced between Belmont and Addison. The final configuration will look like that diagram.

More info here:
https://www.youtube.com/watch?v=uiNl7QoGB5M&t=322s
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  #49884  
Old Posted Jan 18, 2022, 5:38 PM
rivernorthlurker rivernorthlurker is offline
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Walking along Chicago I noticed that they put up barriers recently around Lawson House for the major renovations so they've either started or are about to begin.

https://chicagoyimby.com/2021/12/law...countdown.html

Quote:
The entirety of residences will be affordable and government subsidized. In 2014, Holsten Real Estate purchased the property for one dollar under the condition of keeping the residential portion as affordable housing for a minimum of 50 years. Funding-wise, the developer recently received a $17.59 million loan from the City, a $79.38 million bridge loan from Chase Bank, and a $17.2 million loan from the Illinois Housing Development Authority. According to a September article by the Chicago Sun Times, further funds are are being sourced from syndicating low-income housing tax credits and $12.4 million in historic preservation tax credits.
'

Nice that this historic building will be getting fixed up.
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  #49885  
Old Posted Jan 19, 2022, 4:06 AM
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Nice!

Wasn't that building the US HQ for YMCA? The article seems to imply that it was merely a YMCA location, as opposed to their national US offices.
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  #49886  
Old Posted Jan 19, 2022, 5:06 AM
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Great news. Would love to see something built on the surrounding parking lots. Does the developer own those lots as well?
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  #49887  
Old Posted Jan 19, 2022, 3:34 PM
LouisVanDerWright LouisVanDerWright is offline
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Allstate buys 29 N Wacker, could relocate their headquarters there:

https://www.chicagotribune.com/busin...outputType=amp

Anyone know if this is the original facade on this building? I've always liked it, but if it's from the 1960s and original, it needs to be protected.
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  #49888  
Old Posted Jan 19, 2022, 4:09 PM
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Wow, very interesting. Allstate moving their HQ to Chicago would be great news, especially since there has been some worry they may move out of state after selling their existing suburban campus.

I don't think the existing 29 N Wacker building would be able to fit all the office space they would need, however. If an HQ move is the end goal here, then it could be fairly likely that they demo the existing structure and build something taller in its place.
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  #49889  
Old Posted Jan 19, 2022, 5:33 PM
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They have almost 7,900 employees across Illinois. A 10 story office building would be pretty cramped for even a small fraction of that number
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  #49890  
Old Posted Jan 19, 2022, 6:21 PM
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Quote:
Originally Posted by LouisVanDerWright View Post
Anyone know if this is the original facade on this building? I've always liked it, but if it's from the 1960s and original, it needs to be protected.
No. . . the building was renovated in the early 2000s with the new façade you see today. . .

. . .
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  #49891  
Old Posted Jan 19, 2022, 6:26 PM
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Quote:
Originally Posted by Randomguy34 View Post
They have almost 7,900 employees across Illinois. A 10 story office building would be pretty cramped for even a small fraction of that number
It's like a big bank. The majority of those 7000 are probably working in actual neighborhood offices selling insurance and not back office/csuite activities.
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  #49892  
Old Posted Jan 19, 2022, 6:30 PM
Kngkyle Kngkyle is online now
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Originally Posted by left of center View Post
Wow, very interesting. Allstate moving their HQ to Chicago would be great news, especially since there has been some worry they may move out of state after selling their existing suburban campus.

I don't think the existing 29 N Wacker building would be able to fit all the office space they would need, however. If an HQ move is the end goal here, then it could be fairly likely that they demo the existing structure and build something taller in its place.
Yea... at 135k sqft the current building seems much too small. This does seem more like a redevelopment play. Does anyone know how much space they currently have leased at Merchandise Mart and 444 W Lake? The $232M they're getting for their Northbrook campus is probably enough to buy this site plus provide the equity to build a standard ~800ft office tower.

Edit: on second look, the site might be too small to support an office of that height, it's only about 1/8th of a block
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  #49893  
Old Posted Jan 19, 2022, 7:06 PM
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Last edited by west-town-brad; Jan 19, 2022 at 9:53 PM.
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  #49894  
Old Posted Jan 19, 2022, 7:37 PM
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^ Very weird. That little building is only 133,000sf. Allstate has 2 million SF in Northbrook - 15x the floor area. Where is the other 95% of the company gonna go? Even if they are more efficient with layouts and a lot of positions switch to remote, this little midrise will still leave a huge number of the headquarters employees without a home.

I hate to speculate but this does seem like an opportunity for a big new highrise, given the small size of the existing building and the prime location on Wacker. It's an unusual move for Allstate to buy the building outright rather than leasing, and it would be extremely close to Union & Ogilvie for their suburban workforce to commute in to a big new HQ tower...
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  #49895  
Old Posted Jan 19, 2022, 9:12 PM
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Quote:
Originally Posted by LouisVanDerWright View Post
Allstate buys 29 N Wacker, could relocate their headquarters there:

https://www.chicagotribune.com/busin...outputType=amp

Anyone know if this is the original facade on this building? I've always liked it, but if it's from the 1960s and original, it needs to be protected.
The footprint is so tiny at that location, I highly doubt they'd be moving their headquarters there because as others have mentioned, they could only house a fraction of their workforce. 130 N. Franklin is literally right there, kiddy corner, a block away, which would make more sense for them to build anything new on. 29 N Wacker just seems like an odd purchase
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  #49896  
Old Posted Jan 19, 2022, 9:38 PM
marothisu marothisu is offline
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Originally Posted by sentinel View Post
The footprint is so tiny at that location, I highly doubt they'd be moving their headquarters there because as others have mentioned, they could only house a fraction of their workforce. 130 N. Franklin is literally right there, kiddy corner, a block away, which would make more sense for them to build anything new on. 29 N Wacker just seems like an odd purchase
Headquarters is such a broad term these days. You could have the entire CSuite there plus a few hundred people and be a HQ.

The entire 2 million sq ft and thousands of workers thing is merely one configuration of a HQ.
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  #49897  
Old Posted Jan 19, 2022, 9:52 PM
west-town-brad west-town-brad is offline
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Originally Posted by ardecila View Post
^ Very weird. That little building is only 133,000sf. Allstate has 2 million SF in Northbrook - 15x the floor area. Where is the other 95% of the company gonna go? Even if they are more efficient with layouts and a lot of positions switch to remote, this little midrise will still leave a huge number of the headquarters employees without a home.

I hate to speculate but this does seem like an opportunity for a big new highrise, given the small size of the existing building and the prime location on Wacker. It's an unusual move for Allstate to buy the building outright rather than leasing, and it would be extremely close to Union & Ogilvie for their suburban workforce to commute in to a big new HQ tower...
most employees will work from home - allstate has said as much already in public

this aligns with what many other large corporations are planning for with hybrid/flexible work for office workers... a small but very nice office just big enough for 25% of the employees to be there on any one day. 2 days in office and 3 days at home is the future and what is being demanded by talent
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  #49898  
Old Posted Jan 19, 2022, 10:36 PM
rivernorthlurker rivernorthlurker is offline
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Originally Posted by The Lurker View Post
Great news. Would love to see something built on the surrounding parking lots. Does the developer own those lots as well?
Some people here have mentioned Loyola owns the weird giant shaped parking lot there. And that they plan to expand and will be a tough sell or something along those lines.

Edit: found that post

Quote:
Originally Posted by LouisVanDerWright View Post
They will never sell, they intend to expand their downtown campus to the West into this area. They will likely retain ground and lower floors and partner with developers like they did at the Claire or with the apartment tower at Chestnut and State.
from https://www.skyscraperpage.com/forum...postcount=3299

But hey, everyone's got a price!

Edit #2:

Quote:
Originally Posted by left of center View Post
Nice!

Wasn't that building the US HQ for YMCA? The article seems to imply that it was merely a YMCA location, as opposed to their national US offices.
Wiki just says the HQ for YMCA of Metropolitan Chicago. https://en.wikipedia.org/wiki/Victor...son_House_YMCA

Last edited by rivernorthlurker; Jan 19, 2022 at 10:57 PM.
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  #49899  
Old Posted Jan 20, 2022, 5:03 AM
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Wiki just says the HQ for YMCA of Metropolitan Chicago. https://en.wikipedia.org/wiki/Victor...son_House_YMCA[/QUOTE]

The HQ for the YMCA USA is in Chicago at 101 N Wacker. Don't know if it was ever located in Lawson House. But the YMCA USA is just an umbrella organization with YMCA facilities locally owned and operated, like the YMCA of Metro Chicago.
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  #49900  
Old Posted Jan 20, 2022, 4:18 PM
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Originally Posted by Kngkyle View Post
Yea... at 135k sqft the current building seems much too small. This does seem more like a redevelopment play. Does anyone know how much space they currently have leased at Merchandise Mart and 444 W Lake? The $232M they're getting for their Northbrook campus is probably enough to buy this site plus provide the equity to build a standard ~800ft office tower.

Edit: on second look, the site might be too small to support an office of that height, it's only about 1/8th of a block
Well, the calculus is different sometimes when you're a Fortune 500 company constructing your own building. HQ projects don't need to demand the same efficient floorplates that a developer would. A lot of the Loop's iconic office towers were built this way (Sears, Inland Steel, BCBS, Standard Oil, etc) because they didn't have to be bloated, stumpy boxes.

It is certainly a shallow site, but it has a half-block frontage on North Wacker which is the best corporate address in Chicago, and it's spitting distance to Ogilvie. 130 N Franklin could certainly support a bigger tower, but you lose the Wacker address.

I could even imagine Allstate working something out with AT&T to buy air rights over their building on Washington (since that's never going anywhere) to allow larger floorplates with a cantilever above the 20th floor or whatever. This is common in NYC now but I can't think of any similar project in Chicago.
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Last edited by ardecila; Jan 20, 2022 at 4:29 PM.
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