Quote:
Originally Posted by marothisu
I look forward to not having to tell people that the Loop isn't a very exciting part of town minus a few small parts.
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This day is a lot closer than you (and a lot of observers) might think. In fact, I have very little doubt that this is the development cycle in which the Loop reaches the 27/7 critical mass that it's been moving toward over the last couple cycles. The amount of development - either underway or that will be shortly - from the Central Loop to the n, e, and ne right now is just incredible. Apart from the hotel conversion above across from Chase Plaza, we have the Mariott Residence Inn and Kimpton project - both on LaSalle - joining the likes of the JW Mariotte and W. And - this one has gone a little under the radar it seems like, although it has been reported on - Marc Realty Residential (I believe this is the developer - although someone please correct me if I'm wrong here), is planning to convert the former CPS HQ building at 125 S. Clark, in the heart of the Central Loop, to hundreds of apartments. It's a half-million+ sq ft building, so the number of units could be quite impressive and needle-moving.....
Look for finally, at long last, the coming new retail/entertainment/dining options at Block 37 - along with all the new residential and hotels there and throughout the Loop, to be the key catalyst to finally bringing more nightime dining and entertainment - and higher quality and more retail - to the Loop over the next few years. At the end of this decade, the critical mass will finally be in place. If I were a well-heeled opportunistic investor right now, I would definitely be buing up property throughout the Loop right now to cash in on what will be a rapid transformation over the next five years.