CHICAGO | General Developments

[ChiPlanner]

Anyone heard anything on the parking garage with the popeye's in it at Wabash/Randolph?

Walked down Wabash today and noticed they're building out a space for a new T-Mobile store down the block (presumably the T-Mobile in the garage would move).

[Busy Bee]

Originally Posted by Lakeviewguy

Also, has anyone heard about IKEA opening a store in downtown Chicago? See the attached story from Citylab today.

http://www.citylab.com/life/2018/12/...uburbs/576952/

Maybe they can open, oh say, on Roosevelt Road? Maybe if they had done that 15 years ago they wouldn't be needing this store now.

[ardecila]

Originally Posted by Lakeviewguy

Also, has anyone heard about IKEA opening a store in downtown Chicago? See the attached story from Citylab today.

http://www.citylab.com/life/2018/12/...uburbs/576952/

The Midtown Manhattan store mentioned in the article is only 20,000sf.

https://www.loopnet.com/Listing/999-...rk-NY/6034816/

There’s a lot of places IKEA could find 20,000sf in downtown Chicago, especially if it’s a delivery-centric store with no parking. IMO they probably end up at North/Clybourn in one of the new developments around SoNo.

[SIGSEGV]

Ikea could go in the Merch Mart next to all the high-end home displays lol

[emathias]

Originally Posted by ardecila

The Midtown Manhattan store mentioned in the article is only 20,000sf.

https://www.loopnet.com/Listing/999-...rk-NY/6034816/

There’s a lot of places IKEA could find 20,000sf in downtown Chicago, especially if it’s a delivery-centric store with no parking. IMO they probably end up at North/Clybourn in one of the new developments around SoNo.

They considered going in on Elston not far from where Lincoln Yards is a decade ago, but ended up with a second suburban location instead. Being near Roosevelt and Canal or back near Elston seem most likely, although there are tons of other areas they could go. If they were willing to go under an apartment or office tower, even more places become possible.

[Chicagoguy]

Originally Posted by ardecila

The Midtown Manhattan store mentioned in the article is only 20,000sf.

https://www.loopnet.com/Listing/999-...rk-NY/6034816/

There’s a lot of places IKEA could find 20,000sf in downtown Chicago, especially if it’s a delivery-centric store with no parking. IMO they probably end up at North/Clybourn in one of the new developments around SoNo.

I recently read and article that Dave and Buster's was looking to lease about 14,000sf inside of Water Tower Place. I think that an urban Ikea store would be a much better fit for the "Mag Mile". But I am sure there are plenty of other retail spaces available for lease. Is anything currently going happening with the old Apple Store on Michigan Avenue?

[10023]

IKEA is working on a smaller urban format (more of a showroom rather than holding inventory) because they’re being killed by online like everyone else.

[BuildThemTaller]

Originally Posted by 10023

IKEA is working on a smaller urban format (more of a showroom rather than holding inventory) because they’re being killed by online like everyone else.

People say retail is dying, but it's more like retail is transitioning. Tesla's model is to have a showroom downtown and then to sell you a car direct from the factory. Volvo is going this route as well. You can't even buy their new wagons at a dealership; it has to be ordered from the factory (as a die-hard Volvo wagon lover, this pains me). So I think we are going to see more of this model. That's good for Chicago as the Mag Mile and State Street are destinations for Midwest shoppers. This kind of retail space that serves as a showroom for online deliveries is going to be great for the Windy City.

[r18tdi]

Originally Posted by ChiPlanner

Anyone heard anything on the parking garage with the popeye's in it at Wabash/Randolph?

Walked down Wabash today and noticed they're building out a space for a new T-Mobile store down the block (presumably the T-Mobile in the garage would move).

Haven't really seen much news on this since January.
https://www.chicagobusiness.com/arti...illennium-park

[10023]

^ That’s all the big luxury brand stores in mainland China are, really. The tax on luxury goods is like 40%, so people walk into something like Chanel or Louis Vuitton, try things on, and then have a friend or family member buy that item for them on their next trip to London or Paris. There’s a reason that the highest average customer check at Harrod’s, by far, is people using UnionPay (the Chinese MasterCard).

That’s a bit different, but it does show that brands are perfectly willing to pay for real estate without actual sales happening in that location.

Bonobos is another one. It’s still online only (so far as I know, unless Wal-Mart has changed something since they acquired it). But they opened their first ‘retail’ outlet in SoHo several years ago. I use the term loosely because you couldn’t buy anything, just check out sizes and quality before placing an order online.


edit: come to think of it, this model has existed here in the UK forever with Argos. I’ve never been to one, but they’re like tiny Wal-Marts with no inventory. You either order online and go to one to pick up the order (this predates Amazon), or go to one and get help with your order from a shop clerk, and then they order whatever it is from the warehouse.

[r18tdi]

Originally Posted by 10023

Bonobos is another once. It’s still online only (so far as I know, unless Wal-Mart has changed something since they acquired it).

Pretty sure they're also in department stores like Nordstrom. But we digress.

[marothisu]

New ACS numbers are out, which means new community area populations for 2017. Lakeview is officially over 100K people now - 100,470 people. Near North, West, South, and the Loop together grew 4168 people from 2016 to 2017. That is 2.01% growth in a year - total population of over 211K now of those 4 areas. A big chunk of that was Near North at +2550 people, or about a 3% growth in that year.

Of the 77 community areas, 32 of them lost population while 45 of them gained population. Of the 32 that lost population, 7 of them lost less than 100 people each. Pullman for example lost 7 people - for many of these, the margin of error may cover it.

Top Growth CAs
1. Avondale: +7351 people (I think this is more of a correction considering the Census estimated Avondale lost 9704 people from 2015 to 2016 - so change from 2015 to 2017 is still -2353 people)

2. Near North Side: +2550 people
3. West Ridge: +2492 people
4. Belmont Cragin: +1801 people
5. Uptown: +1677 people
6. Norwood Park: +953 people
7. Garfield Ridge: +910 people
8. The Loop: +870 people
9. South Lawndale: +868 people
10. North Center: +847 people
11. Bridgeport: +843 people
12. Montclare: +792 people
13. East Side: +758 people
14. Clearing: +691 people
15. South Chicago: +662 people

Bottom CAs (losing population)
1. Austin: -2351 people
2. New City: -1532 people
3. Chicago Lawn: -1167 people
4. Englewood: -945 people
5. West Englewood: -869 people
6. West Town: -837 people
7. Woodlawn: -817 people
8. Irving Park: -811 people
9. West Elsdon: -722 people
10. O'Hare: -698 people
11. Greater Grand Crossing: -695 people
12. Logan Square: -679 people
13. Morgan Park: -657 people
14. West Lawn: -487 people
15. Rogers Park: -438 people
More to come..

[the urban politician]

^ 2% growth seems abysmal for the central area.

Just saying....

EDIT: That's growth in 1 year, so I guess that's respectable, but still lower than I had thought.

Our apartment boom is even more substantial than the 2000-2010 boom in regards to density, so I'm surprised that our central area population growth rate, at least by your numbers, is lower than the 2000-2010 period

[marothisu]

Originally Posted by the urban politician

^ 2% growth seems abysmal for the central area.

Just saying....

EDIT: That's growth in 1 year, so I guess that's respectable, but still lower than I had thought.

Our apartment boom is even more substantial than the 2000-2010 boom in regards to density, so I'm surprised that our central area population growth rate, at least by your numbers, is lower than the 2000-2010 period

2014 to 2015: +3.81% (+7455 people)
2015 to 2016: +1.86% (+3781 people)
2016 to 2017: +2.01% (+4168 people)

2.01% is a little above what 2015 to 2016 was.


2010 to 2017 (Comparing ACS to ACS): +28.92% (+47,393 people)
2010 to 2017 (Comparing Census to ACS): +13.56% (+25,233 people)

Between 2000 and 2010, these 4 CAs added 40,911 people. The Census estimates that from 2010 to 2017, at least comparing ACS to ACS that it's grown by 47,393 people. If you put those together, then the 4 areas have grown by 88,304 people from 2010 to 2017 which is a growth of 60.85%

[10023]

Originally Posted by r18tdi

Pretty sure they're also in department stores like Nordstrom. But we digress.

That’s a new development then. Originally, it was only online, and then they opened the showroom format in NY.

[trvlr70]

Originally Posted by Steely Dan

^ i think ikea might rather be over by mag mile for branding purposes.

isn't there lots of space in some of those old vertical malls?

They could go in the base of Trump and compete for ugly signage.

[moorhosj]

Originally Posted by BuildThemTaller

People say retail is dying, but it's more like retail is transitioning. Tesla's model is to have a showroom downtown and then to sell you a car direct from the factory. Volvo is going this route as well. You can't even buy their new wagons at a dealership; it has to be ordered from the factory (as a die-hard Volvo wagon lover, this pains me). So I think we are going to see more of this model. That's good for Chicago as the Mag Mile and State Street are destinations for Midwest shoppers. This kind of retail space that serves as a showroom for online deliveries is going to be great for the Windy City.

These newer types of retail require far less square footage.

The saving grace for retail is more likely to be new or expanding industries like legalized marijuana (entirely new market) and day care centers (growth due to dual-income households). Even legalized sports betting could help ease the pain if we adopt the British model.

[PKDickman]

Originally Posted by 10023

edit: come to think of it, this model has existed here in the UK forever with Argos. I’ve never been to one, but they’re like tiny Wal-Marts with no inventory. You either order online and go to one to pick up the order (this predates Amazon), or go to one and get help with your order from a shop clerk, and then they order whatever it is from the warehouse.

Catalog showrooms are nothing new. Who remembers Service Merchandise?
Only the catalogs have changed.

[the urban politician]

Originally Posted by marothisu

2014 to 2015: +3.81% (+7455 people)
2015 to 2016: +1.86% (+3781 people)
2016 to 2017: +2.01% (+4168 people)

2.01% is a little above what 2015 to 2016 was.


2010 to 2017 (Comparing ACS to ACS): +28.92% (+47,393 people)
2010 to 2017 (Comparing Census to ACS): +13.56% (+25,233 people)

Between 2000 and 2010, these 4 CAs added 40,911 people. The Census estimates that from 2010 to 2017, at least comparing ACS to ACS that it's grown by 47,393 people. If you put those together, then the 4 areas have grown by 88,304 people from 2010 to 2017 which is a growth of 60.85%

If your data pans out, that means that central area population growth has dramatically accelerated (more than double the 2000-2010 pace), which is, on the ground, what I would expect.

The percentage growth will naturally decline as the region becomes more populated. Thanks for sharing

[moorhosj]

Looking at the data, the percentage of households making $100k+ was 25.6% in 2017, compared to 23.7% in 2016. Inflation takes care of some of that growth, but still impressive.

On the flip side, there are still 35.9% of households making under $35k, down from 37.4% in 2016.

New 2012-2017 data: