Quote:
Originally Posted by 10023
I thought Water Tower Place was hotel and office? Also, Hancock Center is not really a high-end building and these are virtually all along the Mag Mile. Not a single one of the concrete towers recently built in River North or Streeterville is a high-end building.
Generally speaking, he's right - the vast, vast majority of high-end residential buildings do not have ground floor retail. Chicago's biggest problem is that they tend to be on parking podiums as well, which makes ground floor retail the least of one's worries as a resident. In New York, high-end buildings are overwhelmingly those with no ground floor retail and no above ground parking.
Look at the buildings along East Lake Shore Drive or the Inner Drive between Oak and North Avenue. Look at buildings in the Gold Coast proper along Astor, etc. There are high-end buildings, and none have ground floor retail.
|
No, Water Tower Place contains some very expensive condos. Oprah actually owns the penthouse which she paid ~6 million for...
I'm not arguing that most residential building have retail, I am arguing that the ones in places that actually have a demand for retail have retail. No one wants to shop along LSD, who would want to set up shop on a street that faces a small-scale freeway?
By the way, despite the fact that none of the shitty concrete towers are "high-end" in your opinion, the majority of them have a lot of retail. Even the Fordham and Grand Plaza have retail...
The point is that by your definition the only "high-end" residential in Chicago is along the Michigan Corridor or along LSD. LSD is not conducive to retail due to the void of the park and freeway. The buildings along Michigan that you consider "high end" all have retail. I mean look at Trump, its going to have like 180k sq feet. Water Tower Place is on top of a freaking mall, yet one of the richest women in the world lives there...
The statement "people who want to buy a high-end condo don't want retail at the base" is just dead wrong.