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  #45641  
Old Posted Jul 28, 2019, 10:09 PM
marothisu marothisu is offline
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Originally Posted by spyguy View Post
534 East Pershing

Not sure how well the retail will do right now, but perhaps a good investment for the future
Not bad. An interesting question/point. A bunch of nice new homes just a few blocks south of this site that are going for $500K-$600K+ now. In one of the tracts just south of here in 2017, 24.5% of households made $50K+. If it continues then in a few years retail could be OK?
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  #45642  
Old Posted Jul 28, 2019, 11:54 PM
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I was at Navy Pier yesterday with some out of town guests.

Not only was it jam packed, but I was impressed with how much less tacky it appears since the renovation. It will always be a tourist trap, but it’s definitely more tasteful now.

I think that the hotel going up there will do very well.


Completely agree. I was there recently for the first time in many years. It is aesthetically much more pleasing.
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  #45643  
Old Posted Jul 29, 2019, 12:30 AM
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Dearborn sta.

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Old Posted Jul 29, 2019, 2:33 AM
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Sears Tower Debasement

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  #45645  
Old Posted Jul 29, 2019, 4:22 AM
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Originally Posted by spyguy View Post
534 East Pershing

Not sure how well the retail will do right now, but perhaps a good investment for the future
Just a few blocks from Indiana on the Green line. A great spot. That’s a hollowed out area that should be able to infill. 34 minutes to Morgan station. I agree that retail there on Pershing should be successful.
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  #45646  
Old Posted Jul 29, 2019, 1:23 PM
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I loooove the new glass on Sears Tower reno. Can you imagine if they reclad the entire tower with that stuff? There was once talk about replacing the facade. I'm wondering if it's still on the table. $500 million for the reno always seemed like a lot of money just for a 3-storey addition...
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  #45647  
Old Posted Jul 29, 2019, 3:43 PM
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Just a few blocks from Indiana on the Green line. A great spot. That’s a hollowed out area that should be able to infill. 34 minutes to Morgan station. I agree that retail there on Pershing should be successful.
This is part of CHA's Ida B Wells land. Just like all the other old CHA projects (Cabrini, Robert Taylor, ABLA, Ickes, Rockwell, Horner, etc) this one was stalled half-completed a decade ago with very little progress since then.

It's amazing that, with such a hue and cry about affordable housing in Chicago right now, CHA is sitting on hundreds of acres of vacant land in decent locations.
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  #45648  
Old Posted Jul 29, 2019, 3:54 PM
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^^^ That's because the "affordable housing" rabble rousers aren't actually interested in housing people, they are interested in maintaining segregation in their political divisions so they can maintain power.

In other words, Carlos Rosa isn't interested in making CHA spend some of their vast war chest building on already owned lands. He instead want's to hand out city land in his ward to political organizations that got him elected so they can move a bunch of voters who are bought and paid for in and maintain Rosa's political power.

Honestly it's more of the same old school corrupt machine behavior. Not surprising when you consider Preckwinkle and Luis Guitterz are Rosa's political mentors/patrons.


Honestly it's totally absurd that the CHA lands in areas like Bronzeville and Chinatown have been left fallow. Thousands of units could have been built on them to allieviate housing shortages all over the city. Part of me suspects it was a conscious effort on Rahm's part to essentailly Red Line the poor out of Chicago. Definately one big failure on his part IMO.
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Old Posted Jul 29, 2019, 4:18 PM
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LVDW, I think you're making a swift generalization. No further comment, as to prevent derailment of this thread.

Did some quick searching and saw 534 E Pershing won LIHTC funding, so hopefully they start construction soon. The developer is Community Builders, which were the same ones that built the apartments w/ retail on 47th & Cottage Grove. Hopefully this one turns out nicely
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  #45650  
Old Posted Jul 29, 2019, 4:30 PM
Baronvonellis Baronvonellis is offline
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Quote:
Originally Posted by Skyguy_7 View Post
I loooove the new glass on Sears Tower reno. Can you imagine if they reclad the entire tower with that stuff? There was once talk about replacing the facade. I'm wondering if it's still on the table. $500 million for the reno always seemed like a lot of money just for a 3-storey addition...
The new base looks promising so far, it's better than the weird base before and matches the tower better.

They were talking about doing the sears in a silver cladding a while back I think. I think the Sears is perfect and bad ass the way it is. I don't want it to change at all.
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  #45651  
Old Posted Jul 29, 2019, 4:52 PM
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The Ald. Rosa downzoning proposal is

BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAACK.............



We love you, Rosa!
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  #45652  
Old Posted Jul 29, 2019, 10:20 PM
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Sorry, what's being planned at 534 E Pershing? A retail strip? Hopefully something urban in form.


Edit: apologies, spyguy's picture didn't load for me before. Actually it looks very nice for the area, considering the Dollar General across the street was just robbed by some youths last night lol. Will the units be mostly market rate? This area has enough subsidized housing imho.

Last edited by BrinChi; Jul 29, 2019 at 10:53 PM. Reason: found the picture :)
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  #45653  
Old Posted Jul 29, 2019, 10:27 PM
the urban politician the urban politician is offline
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Originally Posted by BrinChi View Post
Sorry, what's being planned at 534 E Pershing? A retail strip? Hopefully something urban in form.
Scroll up just a tad
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  #45654  
Old Posted Jul 29, 2019, 10:32 PM
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Originally Posted by LouisVanDerWright View Post
^^^ That's because the "affordable housing" rabble rousers aren't actually interested in housing people, they are interested in maintaining segregation in their political divisions so they can maintain power.


Honestly it's totally absurd that the CHA lands in areas like Bronzeville and Chinatown have been left fallow. Thousands of units could have been built on them to allieviate housing shortages all over the city.
Yeah but it's not just the politicians - there are lots of housing nonprofits in the city that continue to focus on things like the ARO in the pointless hope that it will reduce segregation and just because they want to own the libs... er, I mean developers.

And these same nonprofits turn a blind eye to the fact that we have thousands of acres of vacant or under-utilized land. We have manufactured our own housing "crisis" through counterproductive attitudes.

I have some hope that Lightfoot will give the new Housing Commissioner free reign to whip CHA into shape...
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  #45655  
Old Posted Jul 29, 2019, 10:52 PM
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As rule of thumb - If it doesn't refer to a SPECIFIC development - then it should be in the discussion thread.
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  #45656  
Old Posted Jul 30, 2019, 12:09 AM
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Can someone explain how the tiny addition to the Sears tower costs $500,000,000? That's insane. More than the cost of the entire building back in the day.

I know it was back in the 70's but the Sears tower was built for $150 million.

No way inflation went up that much.


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500 million for that? For a food court.

https://chicago.curbed.com/2018/9/13...all-renderings
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  #45657  
Old Posted Jul 30, 2019, 12:45 AM
marothisu marothisu is offline
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Originally Posted by bnk View Post
Can someone explain how the tiny addition to the Sears tower costs $500,000,000? That's insane. More than the cost of the entire building back in the day.

I know it was back in the 70's but the Sears tower was built for $150 million.

No way inflation went up that much.




500 million for that? For a food court.

https://chicago.curbed.com/2018/9/13...all-renderings
You don't think inflation "went up" that much from 1973? LOL $150M in 1973 is not too far from $900M today. Also, the original permit for what they've done is $200M. That is a lot of money completely but also the scope of what they're building is 300,000 square feet of new structure. That's not huge, but not small either. I don't know why it costs so much, but I don't think the project is as small as it appears.
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  #45658  
Old Posted Jul 30, 2019, 12:47 AM
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^ I think that this project included other improvements to the tower itself, not just the base
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  #45659  
Old Posted Jul 30, 2019, 1:18 AM
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^ I think that this project included other improvements to the tower itself, not just the base
I know part of that $500 million goes for entirely new elevator equipment along with upgrades to safety/fire infrastructure, and something tells me these alone are probably damn near $50 million!

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  #45660  
Old Posted Jul 30, 2019, 2:26 AM
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^ I think that this project included other improvements to the tower itself, not just the base
I used to work in the building as construction was getting started. There is much more to this project than the addition, as others have noted. There are at least 3 lower levels being remodeled and there was a rumor going around that a major grocery chain was leasing at least part of the lower levels, but I'm not sure if that's still true.

I also thought they were redoing the lobbies so when you entered on Wacker, you walked up to the main desk and not down. I'm not sure if that's started or even still in the works, but I believe something big like that was planned.
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