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Originally Posted by IrishIllini
Interesting. The asking price does seem high...big site though. I agree doesn’t seem like they intend on keeping the existing buildings. If office can survive this far west it’d mean great things are happening in Chicago.
The downtown office market is centralizing around the river though. Not sure how viable of an office market this is in the short term, even for start-ups/tech companies. Even with the Damen station up and running (hopefully) next year, it’s still very isolated.
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totally not scientific, but I have noticed a LOT more people exiting at the Morgan station in the mornings - not from the outbound platform, which would suggest downtown residents or North Siders, but from the inbound platform - residents of Pilsen, LV, and the Near West Side. It bodes well for future growth at Damen.
I think Ashland/Lake is an even stronger location for office since it has two train lines instead of one, plus Ashland bus to the North Side, and the new revisions to the PMD include a carveout for new midrises at that exact spot.