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  #45701  
Old Posted Aug 6, 2019, 9:17 PM
LouisVanDerWright LouisVanDerWright is offline
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Originally Posted by marothisu View Post
Lol...barney's building..tear down. Yeah right. In 2011, it was bought for $117M. Only 2 years later, Thor Equities bought it for $154M. A 32% increase in value in only 2 years and some change.
Sunk costs my friend... The improvements on this site are not worth $110m, more like $10m...

Unfortunately most of that $110 million figure was the value of the tenant...
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  #45702  
Old Posted Aug 6, 2019, 9:37 PM
marothisu marothisu is offline
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^ yeah that's true. Forgot they are the singular tenant. The land is still very expensive. I wonder who they could get to go in there. What big retailer (either trendy or upacale) doesn't have a Chicago store or could use another big one?

It's a big store and I always liked the interior. I wonder also how much it would cost to renovate to multiple clients. Probably a lot...
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  #45703  
Old Posted Aug 7, 2019, 2:45 AM
wchicity wchicity is offline
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Originally Posted by ChiPlanner View Post
Real talk: this building is only about a decade old. Do we think a tear-down is possible? What could/would conceivably fill this spot? With stores like Bloomingdale's down-sizing by combining their home and regular stores, a department store seems highly unlikely.

The current site is zoned DX-12 (FAR of 12.0) though it's an odd size/shape- basically just the Barney's.
Yeah I would imagine there is about a 0% chance another department-type store will take its place. If I had to guess, they'll probably try to parse up the first two floors to a few different retailers and maybe even turn the upper floors into office space.
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  #45704  
Old Posted Aug 7, 2019, 3:57 AM
-Nick- -Nick- is offline
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Sears Tower base update 8/6/19.







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  #45705  
Old Posted Aug 7, 2019, 2:22 PM
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Something is happening at Dearborn + Polk. Recent articles indicate that it's going to be a Roots Pizza, and not micro-apartments as older proposals suggest.



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  #45706  
Old Posted Aug 7, 2019, 2:36 PM
Jim in Chicago Jim in Chicago is offline
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Something is happening at Dearborn + Polk. Recent articles indicate that it's going to be a Roots Pizza, and not micro-apartments as older proposals suggest.
Chatter around the Sloop is that it is indeed going to be a two story Roots Pizza, with a roof deck - not sure if that's the 2nd floor or above it. There are some renderings floating around as well. I don't think the Roots part has been confirmed by a reliable source, there was some PR about a year ago that gave an Early 2020 opening date.

Meanwhile, yes, work has begun, they cleared away the mess of debris from previous work, have dug the foundation hole and it looked like they were setting up concrete forms this week. You can see of this in the pics in the previous posting. Work has been sporadic. Some of the gossip was that the tall building didn't happen since the ground couldn't support the weight, but I have no way of knowing if that's true. At the time the building was canceled it was for other reasons involving developer backing away, etc. It was meant to be an upscale microapartment building.

In the background you can see a peekaboo shot of the building on the next corner. This was controversial since many thought it was an underutilization of the site. I fund the dark brink rather handsome, and an upscale sort of convenience store has opened on the street and is receiving good reports.

Last edited by Jim in Chicago; Aug 7, 2019 at 3:16 PM.
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  #45707  
Old Posted Aug 7, 2019, 9:58 PM
SamInTheLoop SamInTheLoop is offline
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Originally Posted by wchicity View Post
Yeah I would imagine there is about a 0% chance another department-type store will take its place. If I had to guess, they'll probably try to parse up the first two floors to a few different retailers and maybe even turn the upper floors into office space.

I think this is right.

There is the possibility - there are certain retail/entertainment/experience type tenants that could fit the bill - that you have one retail or retailish tenant taking up the lower 2-3 floors.....then some sort of office or officish space above. Or could be split between two larger multifloor tenants. Just spitballing - Some sort of food emporium on 1-2 or 1-3.....and then medical office on 4-6. Or - a gym on 4-6??

Also I forgot that Thor owns this. I forget how much term is left on Barney's lease. It might not be an emergency situation for them, depending on the answer to that and other factors. I just would like to see them break ground on their SOM-designed 800 W Fulton project.....sweet design.
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  #45708  
Old Posted Aug 7, 2019, 10:01 PM
SamInTheLoop SamInTheLoop is offline
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Originally Posted by Jim in Chicago View Post
Chatter around the Sloop is that it is indeed going to be a two story Roots Pizza, with a roof deck - not sure if that's the 2nd floor or above it. There are some renderings floating around as well. I don't think the Roots part has been confirmed by a reliable source, there was some PR about a year ago that gave an Early 2020 opening date.

Meanwhile, yes, work has begun, they cleared away the mess of debris from previous work, have dug the foundation hole and it looked like they were setting up concrete forms this week. You can see of this in the pics in the previous posting. Work has been sporadic. Some of the gossip was that the tall building didn't happen since the ground couldn't support the weight, but I have no way of knowing if that's true. At the time the building was canceled it was for other reasons involving developer backing away, etc. It was meant to be an upscale microapartment building.

In the background you can see a peekaboo shot of the building on the next corner. This was controversial since many thought it was an underutilization of the site. I fund the dark brink rather handsome, and an upscale sort of convenience store has opened on the street and is receiving good reports.

Haven't tried Roots, but hope this is a hit, as it will help liven up Printer's Row (not that I see it as struggling or anything). Just quite fond of the neighborhood, and would like to see it thrive.
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  #45709  
Old Posted Aug 7, 2019, 10:13 PM
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Steely Dan Steely Dan is offline
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Haven't tried Roots.
Roots pizza seems to strongly divide opinions.

i guess you either like that malted quad cities style crust or you don't.

we have one up in lincoln square, and while i like their pizza, it's not a regular go-to for us.


CHICAGO: so much pizza and so little time. there are worse problems to have, i suppose.
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  #45710  
Old Posted Aug 8, 2019, 1:27 AM
Stockerzzz Stockerzzz is offline
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Video Link


Here’s a good speech from our new Head of Planning and Development, Maurice Cox.

It starts at 10 minutes.
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  #45711  
Old Posted Aug 8, 2019, 5:07 AM
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BonoboZill4 BonoboZill4 is offline
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Originally Posted by SamInTheLoop View Post
Haven't tried Roots, but hope this is a hit, as it will help liven up Printer's Row (not that I see it as struggling or anything). Just quite fond of the neighborhood, and would like to see it thrive.
It'll be the perfect capper for that street there. Many good little restaurants and stores on Dearborn. It's my favorite sliver in Printer's Row by far, so adding a pizza joint makes me ecstatic!
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  #45712  
Old Posted Aug 8, 2019, 2:17 PM
ChiPlanner ChiPlanner is offline
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River West site next to Tribune Media megaproject hits the market

The Salvation Army is looking to sell its main downtown campus, setting up a potential big redevelopment.

Quote:
The 74,000-square-foot site, which the Salvation Army has owned since 1931 and today serves as its Chicago Adult Rehabilitation Center, does not have a specific asking price. But a source familiar with the offering estimated it could fetch between $30 million and $40 million based on the potential to develop as much as 600,000 square feet on the property.

The Salvation Army site is within one of the new expansion areas, which means a buyer could purchase extra density through the city's Neighborhood Opportunity Bonus system allowing as much as 600,000 square feet of new development, according to SVN. Under that system, developer contributions go into the city's Neighborhood Opportunity Fund, which is used to dole out grants to businesses in neighborhoods on the South, Southwest and West sides that lack significant private investment.

The site also qualifies as a transit-oriented development property, according to the SVN flyer. That lowers the minimum number of parking spaces a new development would need to include.


https://www.chicagobusiness.com/comm...ct-hits-market
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  #45713  
Old Posted Aug 8, 2019, 2:38 PM
Jim in Chicago Jim in Chicago is offline
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Originally Posted by SamInTheLoop View Post
Haven't tried Roots, but hope this is a hit, as it will help liven up Printer's Row (not that I see it as struggling or anything). Just quite fond of the neighborhood, and would like to see it thrive.
Quote:
Originally Posted by BonoboZill4 View Post
It'll be the perfect capper for that street there. Many good little restaurants and stores on Dearborn. It's my favorite sliver in Printer's Row by far, so adding a pizza joint makes me ecstatic!
Except the last thing we need is another pizza joint - you can throw a stone and hit like a dozen of them. At least it isn't a nail salon.
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  #45714  
Old Posted Aug 8, 2019, 2:41 PM
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Originally Posted by Jim in Chicago View Post
Except the last thing we need is another pizza joint - you can throw a stone and hit like a dozen of them. At least it isn't a nail salon.
Or a novelty gym.

Don't get me wrong, gyms are great. But it feels like the South Loop has one every block.
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  #45715  
Old Posted Aug 8, 2019, 2:45 PM
Jim in Chicago Jim in Chicago is offline
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Or a novelty gym.

Don't get me wrong, gyms are great. But it feels like the South Loop has one every block.
This Sloop chat reminds me to ask if anyone knows what's going on at the formerly derelict small building on Clark just south of the ArtCraft/Scientology building, directly across from the rapidly rising new high rise at 717.

We chatted when the facade was abruptly torn off, and then it was completely boarded up for awhile. The boarding is still there, but what has risen behind the boards is a split facade, with two completely different treatments, two colors of brick and with different elevations. I guess it will be two storefronts, but it sort of looks like a bad attempt to imitate the newer Portillos where the exterior has like 50 kinds of treatment. Perhaps they'll open TWO pizza places, we need more.
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  #45716  
Old Posted Aug 8, 2019, 2:51 PM
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Roots is fine. Totally forgettable, but fine. Much rather see Spacca napoli add a second location.
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  #45717  
Old Posted Aug 8, 2019, 6:45 PM
Baronvonellis Baronvonellis is offline
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Yea, Roots is pretty average pizza, not bad not great. It tastes similar to Papa Johns to me. Spacca napoli is excellent! I'd rather see more of them personally.
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  #45718  
Old Posted Aug 8, 2019, 6:51 PM
Chi-Sky21 Chi-Sky21 is offline
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for a quick slice i am kinda partial to Art of Pizza over near Ashland/Belmont.
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  #45719  
Old Posted Aug 8, 2019, 6:53 PM
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Steely Dan Steely Dan is offline
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It tastes similar to Papa Johns to me.
i would agree that roots is nothing spectacular, but......... papa johns!?!

no, i won't get on board that train with you.

roots pizza is absolutely several notches above fucking papa johns, IMO.
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Last edited by Steely Dan; Aug 8, 2019 at 9:45 PM.
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  #45720  
Old Posted Aug 8, 2019, 7:15 PM
Baronvonellis Baronvonellis is offline
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Originally Posted by Steely Dan View Post
i would agree that roots is nothing spectacular, but......... papa johns!?!

no, i won't get on aboard that train with you.

roots pizza is absolutely several notches above fucking papa johns, IMO.
Lol, ok it's a couple notches above papa johns.
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