Quote:
Originally Posted by ardecila
I don't know why you are maintaining this argument that the growth in the West Loop is somehow illegitimate. The neighborhood has arrived. Residents, restaurants, and now employers increasingly want to be there. That's all there is to it.
If you think it's a bad decision on McDonald's part, then get ready for the business community, city officials, and others to double down. They will work through any issues with the neighborhood... it's not like this is Motorola moving to Harvard IL. It is the bleeding edge of the second-biggest CBD in North America, with the entirety of the Chicagoland rail system and expressway system accessible inside of ten minutes.
What are you expecting? McDonald's will say, uh-oh, this was a bad decision and terminate their lease, paying massive penalties to Sterling Bay (or whoever their landlord happens to be)? Or will they sink a smaller amount of money into shuttles or whatever else they need to make the location work? Based on 600 W Chicago, I think the latter is infinitely more likely. I haven't seen a mass wave of defections from that building, in fact it has 1.2M SF mostly leased up, with even poorer transit access than the Harpo site.
|
Yeah after Rahm and city council changed the boundaries of the DX zoning districts and instituted the density bonus for community development funds program, it is absurd not to think that we will someday see major development, probably even highrise development, all the way West to Ashland in the future. This is just the beginning.
Also, not only is it absurd to say the West Loop is unsuitable for Class A corporate HQ office, it is flat out an oxymoron. The only Metra adjacent sites which remain are to the West. The next 700' class A skyscrapers will not have addresses on Wells or Wacker (with the exception of the area around 311), but on Desplaines or Clinton. It's not just OK for offices of this scale to locate further West, it's quickly becoming the only option. I posted images highlighting how many lots have disappeared in the area between the River, Lake, Vanburen, and Halsted a while ago, well the numbers continue to dwindle with the Econobox by the park and the little residential development further North. It's only a matter of time until the only option is to go tall or move further West.