CHICAGO | General Developments - Page 1187

Rizzo · #**23721** Posted **Apr 25, 2014, 1:20 AM**

Quote:

Originally Posted by the urban politician

The 1345 S Wabash condo owners are screwed, no? I mean, their entire north facing view will be obliterated. What gets me is that CMK clearly knows this, but designed north facing balconies as such. This potentially says a lot about them as developers, and it doesn't send a good message

They may have legally been required to guarantee daylight and airflow for a deep building. You can't just punch two small window openings common-side and make it a residential loft. Even without balconies, large fenestration may have been necessary...........so you build balconies anyway because it's generally a smart thing to do when you have a door to the exterior high up.

wierdaaron · #**23722** Posted **Apr 25, 2014, 1:33 AM**

1345 has some kinda weird floorplans, too. Corner units (the only ones that would have long term views) have ridiculous serpentine hallways between the front doors and the actual living areas, and the rest of the units are weirdly narrow. It all really feels like an afterthought to the apartment tower, which if memory serves it basically is. I'm happy for south loop to get some more condos, but if it fails to fill up it could be because of the quality of the product rather than the strength of the market.

Mr Downtown · #**23723** Posted **Apr 25, 2014, 3:33 AM**

Modern SROs look like motel rooms with a kitchenette in the corner. Each room has its own bath.

Most new SROs are run by social service agencies and often provide job training, drug treatment referrals, and similar things onsite. I guess "run like an apartment building" means the residents will essentially be on their own—and probably screened in advance to ensure they won't need any of those services.

LouisVanDerWright · #**23724** Posted **Apr 25, 2014, 4:34 AM**

Quote:

Originally Posted by the urban politician

The 1345 S Wabash condo owners are screwed, no? I mean, their entire north facing view will be obliterated. What gets me is that CMK clearly knows this, but designed north facing balconies as such. This potentially says a lot about them as developers, and it doesn't send a good message

They won't see all that much to the north now anyhow, but they will have very good views to the NW which means loop skyline views even once the new tower is built. I have a friend who lives in the building to the north and he doesn't have any north views, but fantastic west/northwest views.

ardecila · #**23725** Posted **Apr 25, 2014, 4:43 AM**

Quote:

Originally Posted by Mr Downtown

Modern SROs look like motel rooms with a kitchenette in the corner. Each room has its own bath.

Most new SROs are run by social service agencies and often provide job training, drug treatment referrals, and similar things onsite. I guess "run like an apartment building" means the residents will essentially be on their own—and probably screened in advance to ensure they won't need any of those services.

My take is that the building is classified as an SRO to get around Minimum Lot Area requirements and pack more efficiency units in, in keeping with the "micro-apartment" trend. The units will likely lease at market rates with long-term leases. The developer has no track record with any kind of supportive housing, either... it's unusual for developers to switch like that.

Mr Downtown · #**23726** Posted **Apr 25, 2014, 2:04 PM**

^Interesting theory. Do we know anything about the interior design or finishes?

SamInTheLoop · #**23727** Posted **Apr 25, 2014, 2:38 PM**

Quote:

Originally Posted by the urban politician

The 1345 S Wabash condo owners are screwed, no? I mean, their entire north facing view will be obliterated. What gets me is that CMK clearly knows this, but designed north facing balconies as such. This potentially says a lot about them as developers, and it doesn't send a good message

I've been thinking about this as well. I wonder though what CMK sales folks are disclosing to buyers? They're no fly-by-night developer, and I'm sure they get (and certainly seek to land) some amount of repeat business through time with buyers (not too mention just broader reputational issues), so you'd think it's not in their med-longer term interest to not be transparent with potential buyers about what they themselves will be (according to their own business plans - not some potential future use of the land) building immediately to the north of this building.

Legally, I do not know that there is any requirement for this specific disclosure (I know there's got to be some case history somewhere - mabye even some in Chicago - on situations like this for sure), nor that there necessarily should be any legal disclosure requirements.

Really wondering about CMK's plans for timing of 1333 tower - I'm assuming they're thinking about it as a larger 'phase II' to this overall project, and that yes it will be condo, and timing will depend on sales performance at 1345. Also, would love to know any and all financing details on 1345. My guess is that they likely don't have a traditional bank loan on it - at least not yet - and they could very well be going/looking for - if financing isn't wrapped-up - something at least a little bit less traditional....

marothisu · #**23728** Posted **Apr 25, 2014, 3:08 PM**

Was it Lakeside Bank that's supposed to build a bank at 1350 S Michigan? Building permit was issued for the foundation of a bank at that address the other day. :\

ardecila · #**23729** Posted **Apr 25, 2014, 3:18 PM**

Quote:

Originally Posted by Mr Downtown

^Interesting theory. Do we know anything about the interior design or finishes?

Yeah. All these built-ins don't look cheap. A real "affordable housing" developer would just do open shelving or builder-grade closet doors, not high-end plywood.

I could be wrong, though... if the developer is receiving some kind of subsidy then he might definitely make pricey design choices.

Baronvonellis · #**23730** Posted **Apr 25, 2014, 3:53 PM**

That looks cool, I would consider living there if you get a good deal on the rent. Since I eat out most of the time anyway, I would just need a microwave, and an electric burner. It looks like a modern take on the 4+1 to add density and keep rents down in the area. They should build lots of those around the north side. Plenty of young single people that don't need a ton of space, and are looking for a cheap place to stay.

What's the deal with all those vacant lots on Milwaukee near that building? Why aren't they being developed?

SamInTheLoop · #**23731** Posted **Apr 25, 2014, 4:30 PM**

Quote:

Originally Posted by marothisu

Was it Lakeside Bank that's supposed to build a bank at 1350 S Michigan? Building permit was issued for the foundation of a bank at that address the other day. :\

Yes, that's the one. What a great addition the the south loop. Such a highest and best use....thanks City/McPier for choosing such a prime parcel that far north for a bank branch!

SamInTheLoop · #**23732** Posted **Apr 25, 2014, 4:34 PM**

Quote:

Originally Posted by ardecila

My take is that the building is classified as an SRO to get around Minimum Lot Area requirements and pack more efficiency units in, in keeping with the "micro-apartment" trend. The units will likely lease at market rates with long-term leases. The developer has no track record with any kind of supportive housing, either... it's unusual for developers to switch like that.

Very interesting. Actually, hopefully a bunch of developers will go this route, and maybe that might begin to prompt the repeal of the completely unnecessary MLA requirements?? One can hope anyway.

I wasn't familiar with the MLA nonsense really at all until the situation with 200 N Michigan (432 units on that parcel is just too many!! what silliness)....

SamInTheLoop · #**23733** Posted **Apr 25, 2014, 4:39 PM**

Quote:

Originally Posted by LouisVanDerWright

^^^ I am torn between agreeing with Ardcelia that IF McCaffery actually gets these tenants into RC then he will have done his job and also remaining a skeptic until I actually see something open in that building. Developers keep announcing new tenants for the retail white elephants like B37 and RC and yet no construction actually commences on the properties.

So until RC is a bustling retail environment I say "I'll believe it when I see it"...

In other positive news for RC, they've (in addition to those 3 retailers mentioned the other day) also signed up a couple restaurants - a sushi place and a pork shop - well actually PorkChop (yes, finally and really, but again need to wait to see this one to believe it!) and a couple smaller gyms/fitness type tenants.

In particular, the inability to have a few restaurants open for the past year or so is maybe the single most inexcusable of 'McHackeffery's' many demonstrable incompetencies with RC. With the large traffic that the all signs point to very successful theater generates, you had the obvious synergies to get a few open down at the north end of the center. Deal with Blackfinn - fell apart. Deal with Chica Loca - fell apart. To-date, fail. Here's hoping for a better tomorrow.....

Link N. Parker · #**23734** Posted **Apr 25, 2014, 4:59 PM**

Quote:

Originally Posted by marothisu

It would be great if more wards did this - I don't care whether the information is favorable or not. It's good to know what's going on. I think Daniel Solis for the 25th ward is pretty good about this too.

On another note, I don't know if you guys saw this but the Chicago Loop Alliance has a new plan to make some use of some alleys in the Loop with art, music (dj), food, drink, etc. Looks like there will be 5, the first one on May 1:
http://loopchicago.com/cla/projects-...grams/activate

I think we need more of this - I wish more things were done with alleys

Thanks for posting this! I was actually thinking of this the other day (great minds think alike) - the fact that European streets are very narrow, and create really amazing spaces for dining, socializing etc. There are only a few streets in Chicago that are narrow in that way, that can be used like that. One that comes to mind is the narrow street that is off Division right by where Moonshine is. The other is the really clean alley behind the museum that is at Randolph and Michigan. Another one is the alley next to the Chicago Theater on State Street. But yeah, if they are able to clean up the alley ways and make really interesting (but temporary) spaces, then that is a fantastic idea.

Link N. Parker · #**23735** Posted **Apr 25, 2014, 5:07 PM**

Quote:

Originally Posted by jcchii

Tribune

New Chicago high school to be named for President Obama
A new selective enrollment high school named after President Barack Obama will be built near the former site of the Cabrini-Green public housing complex, Mayor Rahm Emanuel announced today

LOL, kinda funny. I was wondering if when that was going to happen, have a high school named after him or even an entire street, or park:

Obama Park
Obama Avenue
etc

ardecila · #**23736** Posted **Apr 25, 2014, 6:36 PM**

Quote:

Originally Posted by Baronvonellis

What's the deal with all those vacant lots on Milwaukee near that building? Why aren't they being developed?

Lack of political support, mainly. Maybe some news on that front soon, though.

Vlajos · #**23737** Posted **Apr 25, 2014, 7:54 PM**

Quote:

Originally Posted by ardecila

Lack of political support, mainly. Maybe some news on that front soon, though.

Do you mean the alderman wants them vacant?

LouisVanDerWright · #**23738** Posted **Apr 25, 2014, 8:07 PM**

Quote:

Originally Posted by ardecila

Lack of political support, mainly. Maybe some news on that front soon, though.

John Burns tried to redevelop that stretch of Milwaukee in the last boom and was driven to foreclosure when Manny Flores the previous alderman stonewalled him on zoning for over two years. Almost all of that stretch is M and C zoning so it's impossible to do anything as of right.

Jibba · #**23739** Posted **Apr 25, 2014, 9:12 PM**

That's odd considering Manny's Milwaukee Ave. Corridor Plan that called for upzoning of that whole stretch and provisions for TOD around Western and California (in whatever capacity he'd be able to do so).

LouisVanDerWright · #**23740** Posted **Apr 25, 2014, 9:43 PM**

Quote:

Originally Posted by Jibba

That's odd considering Manny's Milwaukee Ave. Corridor Plan that called for upzoning of that whole stretch and provisions for TOD around Western and California (in whatever capacity he'd be able to do so).

Since when do City plans mean anything in this town? The city can "plan" all they want, but none of it happens unless the alderman signs off on it.