CHICAGO | General Developments - Page 1189

marothisu · #**23761** Posted **Apr 28, 2014, 5:09 PM**

Quote:

Originally Posted by emathias

Kind of an unusual place for a hotel ... on the other hand, that area is exploding and changing really fast these days.

3rd time I'm writing about this in the last week or so, but it's a rehab of an old building. The owners already own a hostel loft in Wicker Park. I think this one will be much the same - boutique hostel. It won't cater to business travelers but maybe international travelers or younger more cash strapped travelers. This is right around the corner from that new 23 unit MK building, plus it's right near that new 33 story building that's going into the parking lot of Le Cordon Bleu and other stuff going on and near the Brown Line.

Here's the story Curbed had from April 15:
http://chicago.curbed.com/archives/2...l-makeover.php

Kenmore · #**23762** Posted **Apr 28, 2014, 5:11 PM**

Quote:

Originally Posted by ardecila

I'm glad to see that the CTA is now being strategic about encouraging TOD in conjunction with its capital investments.

Ultimately those investments need to translate to higher ridership, which means more intense development, but the lack of support from aldermen on this issue has forced CTA to get proactive. Osterman pays lip service to urban density and TOD but doesn't back it up and continues to approve strip malls right by L stations.

At the same time, something makes me uncomfortable about the CTA becoming a redevelopment authority. It's not their mission and that power has been abused so many times in the past to eviscerate dense neighborhoods and replace them with sterile towers in a park. If the CTA needs room for staging, that's fine, and to the extent they can choose staging sites to encourage positive redevelopment, that's fine... But the laundry list of properties for seizure around the Clark flyover seems super excessive.

totally agree with both concerns. Osterman has been a letdown.

The North One · #**23763** Posted **Apr 28, 2014, 5:19 PM**

Quote:

Originally Posted by Busy Bee

Some of the worst food I've ever had was from Sonic. So, yippee.

It's fast food, what do you expect? Their slushies, shakes, and malts are really good though. It's certainly a step above McDonalds.

Vlajos · #**23764** Posted **Apr 28, 2014, 5:23 PM**

Quote:

Originally Posted by The North One

It's fast food, what do you expect? Their slushies, shakes, and malts are really good though. It's certainly a step above McDonalds.

Who cares, it's an awful site for a drive thru. I can't believe that was allowed to be built at this location.

ardecila · #**23765** Posted **Apr 28, 2014, 6:10 PM**

Quote:

Originally Posted by emathias

With the Brown Line they showed restraint and didn't always knock down buildings, but just carved out what they needed. Hopefully they continue with that.

I know, I've made that point several times and I hope CTA continues this kind of sensitive demolition. But CTA has little reason to be restrained if they're also pursuing a TOD agenda.

the urban politician · #**23766** Posted **Apr 29, 2014, 3:37 AM**

^. I say fuck it all and let the CTA become a development authority if they will push a TOD agenda. They stand a much better chance of success creating density, their being a quasi-government authority, than do private landowners when dealing with pandering Aldermen.

Mr Downtown · #**23767** Posted **Apr 29, 2014, 3:50 AM**

^I dunno. It got pretty messy when they sold off Limits barn.

denizen467 · #**23768** Posted **Apr 29, 2014, 4:19 AM**

Quote:

Originally Posted by Kenmore

buried in a recent article on the CTA redline north work
...
http://www.dnainfo.com/chicago/20140...public-storage

Also in that article, something that will surely end up a really great improvement: A car lot and a windowless concrete hulk will go away, a quarter-block from the Bryn Mawr station, and can be redeveloped as one unified large parcel. Great candidate for a TOD highrise; when the time comes 5 or 10 years from now hopefully the CTA/alderman will understand this.

Quote:

The CTA plans to demolish two buildings on North Broadway in Edgewater - which are now home to Chicago Northside Toyota and a Public Storage facility - before completely rebuilding Red Line stations between Lawrence and Bryn Mawr avenues.

The property next to the tracks would be used as a staging area for construction crews and equipment, CTA spokeswoman Lambrini Lukidis said.

Rizzo · #**23769** Posted **Apr 29, 2014, 5:35 AM**

Quote:

Originally Posted by denizen467

Also in that article, something that will surely end up a really great improvement: A car lot and a windowless concrete hulk will go away, a quarter-block from the Bryn Mawr station, and can be redeveloped as one unified large parcel. Great candidate for a TOD highrise; when the time comes 5 or 10 years from now hopefully the CTA/alderman will understand this.

I don't share your optimism. The storage building isn't terrible if it was improved. Now it's just going to be a vacant parcel post cta construction that could become two auto dealerships or the city's second Sonic. Guess I'm not letting that subject die so easily. But I really hope I'm wrong.

Chi-Sky21 · #**23770** Posted **Apr 29, 2014, 12:30 PM**

Nordstrom's at Northbridge getting a face lift...About time! Such an ugly facade.

http://www.chicagotribune.com/busine...,3967753.story

marothisu · #**23771** Posted **Apr 29, 2014, 2:38 PM**

New Loyola business building at State & Pearson officially given a building permit yesterday

BWChicago · #**23772** Posted **Apr 29, 2014, 3:25 PM**

Quote:

Originally Posted by Hayward

I don't share your optimism. The storage building isn't terrible if it was improved. Now it's just going to be a vacant parcel post cta construction that could become two auto dealerships or the city's second Sonic.

But it likely would not have. And by setting out TOD goals at the outset, the CTA is obligating itself to exhaust TOD options first.

Quote:

"Obviously, we think of our properties like our children. When we buy a facility, and when we build a facility, we typically own them forever," he said, adding that one of the only ways the company would sell a property is if it's forced through eminent domain.

MayorOfChicago · #**23773** Posted **Apr 29, 2014, 3:33 PM**

Quote:

Originally Posted by Chi-Sky21

Nordstrom's at Northbridge getting a face lift...About time! Such an ugly facade.

http://www.chicagotribune.com/busine...,3967753.story

They need to rip out and redo the Shops of Northbridge corner at Grand and Rush. You can't read anything on those signs and the lighting is all weird. Its like someone took black paint and slapped it all over the corner there. Impossible to read.

Via Chicago · #**23774** Posted **Apr 29, 2014, 3:39 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.

They're saying these are going to lease for a minimum of 1k. How are they arriving at this math? You can afford a very nice full 1-bedroom vintage apt in any number of desirable neighborhoods (that one included) for the same rent or less. Which is still a nice chunk of change for someone with a decent job. And this is supposed to be marketed towards students (presumably on a much smaller income)? Why would anyone choose this over any number of roomier/cheaper options?

marothisu · #**23775** Posted **Apr 29, 2014, 4:09 PM**

Quote:

Originally Posted by Via Chicago

They're saying these are going to lease for a minimum of 1k. How are they arriving at this math? You can afford a very nice full 1-bedroom vintage apt in any number of desirable neighborhoods (that one included) for the same rent or less. Which is still a nice chunk of change for someone with a decent job. And this is supposed to be marketed towards students (presumably on a much smaller income)? Why would anyone choose this over any number of roomier/cheaper options?

SROs are kind of month to month right? It might be marketed towards short term interns, students, people separated from a spouse, etc who can afford it. If so then it's not a bad idea - otherwise it's rather strange.

EDIT: Just read more about it. I don't get it. Leases signed for a year. You can find studios in Chicago for under $1000/month in safe areas. Are they luxury? Not usually but they're adequate and in safe areas.

Via Chicago · #**23776** Posted **Apr 29, 2014, 4:20 PM**

Quote:

Originally Posted by marothisu

SROs are kind of month to month right? It might be marketed towards short term interns, students, people separated from a spouse, etc who can afford it. If so then it's not a bad idea - otherwise it's rather strange.

My understanding is theyre simply calling them SROs because they city dosent have a "micro-apartment" designation.

Vlajos · #**23777** Posted **Apr 29, 2014, 4:22 PM**

Quote:

Originally Posted by Via Chicago

My understanding is theyre simply calling them SROs because they city dosent have a "micro-apartment" designation.

I think you're right. I doubt these are true SRO type week to week rentals.

Via Chicago · #**23778** Posted **Apr 29, 2014, 4:25 PM**

Quote:

Originally Posted by marothisu

Just read more about it. I don't get it. Leases signed for a year. You can find studios in Chicago for under $1000/month in safe areas. Are they luxury? Not usually but they're adequate and in safe areas.

1k for a studio is insane. Thats full 1-bedroom price just about anywhere other than a couple neighborhoods.

Tool around Padmapper and look at whats out there. Yes, rents are up from a few years ago but still....
http://www.padmapper.com

marothisu · #**23779** Posted **Apr 29, 2014, 4:38 PM**

Quote:

Originally Posted by Via Chicago

1k for a studio is insane. Thats full 1-bedroom price just about anywhere other than a couple neighborhoods.

Tool around Padmapper and look at whats out there. Yes, rents are up from a few years ago but still....
http://www.padmapper.com

Yeah, well I'd say a handful of neighborhoods (anywhere downtown, Lincoln Park, Lakeview, Andersonville, Wicker Park, Bucktown, etc). You can actually find 2 and 3 bedroom apartments in Bridgeport and McKinley Park for under or around $1000/month. I know people who have 1 bedroom + den set up in Pilsen for under $700/month. I know a few people around Pilsen or Heart of Chicago who pay under $800/month for 2 bedroom places.

Via Chicago · #**23780** Posted **Apr 29, 2014, 4:41 PM**

Quote:

Originally Posted by marothisu

Yeah, well I'd say a handful of neighborhoods (anywhere downtown, Lincoln Park, Lakeview, Andersonville, Wicker Park, Bucktown, etc). You can actually find 2 and 3 bedroom apartments in Bridgeport and McKinley Park for under or around $1000/month. I know people who have 1 bedroom + den set up in Pilsen for under $700/month. I know a few people around Pilsen or Heart of Chicago who pay under $800/month for 2 bedroom places.

Im in Andersonville and pay 1k for 1 bed, utilities and balcony included. It can be done with an open eye and a little persistence. But anyway yes I agree, very strange. Im not sure if this is just one developer being optimistic or something indicative of a larger bubble in LS. Either way, I think its only a matter of time before people start saying "forget it" and start eyeing other areas if this keeps up. Once you get to that level you're pricing out a whole lot of people, especially the kind that Logan has attracted up til now.