CHICAGO | Thompson Center redevelopment | Jahn's MASTERPIECE will be saved!!!!!!!!!!!

[ardecila]

Originally Posted by Klippenstein

I know I'm random and this is a tangent, but would it be possible to connect 115 S. Lasalle to the pedway at some point? Is there a reason why the Chase building was never connected under Madison? Would this type of connection compromise the foundation enough that it would require massive construction to reengineer/redistribute load? Just curious if anybody has any insight?

There used to be a 2nd-floor skybridge connecting Chase Tower (One First National) to 70 W Madison (Three First National) and the rest of the pedway system, but this was demolished long ago.

There was also a pedestrian tunnel under Clark St connecting Chase Tower (One First National) to 20 S Clark (Two First National). It looks like that tunnel is still there and it is now being repaired, a big part of Clark St is ripped up right now for the "Chase Tunnel Project".

20 S Clark probably wants that all-weather connection to the Blue Line! It's also possible that this is an investment by Chase, maybe they have given up their search for a new trophy tower and will re-invest in their current HQ tower with expansion in 20 S Clark.

[CrazyCres]

Google says they will move into the building in 2026

Link: https://blog.google/inside-google/company-announcements/chicago-thompson-center/

[Halsted & Villagio]

Great news!! Kudos to Google and hooray for this city! Jahn was truly ahead of his time. In the age of Covid (and other airborne diseases) buildings like the Thompson with big atriums and/or open air design could become the norm. Particularly once optimum air circulation issues are worked out by the new owners. I can’t help but think this may have played a role in their decision.

Either way, I am happy they will be taking over this iconic building… and will be giving the CBD a much needed shot in the arm.

[Kumdogmillionaire]

I've always found the building highly overrated mostly because of how horribly kept and dirty the facade was and how poorly the interior aged, but with the right renovations, it would become a very cool place for people to congregate in the Loop

[marothisu]

When can we expect to see the sudden influx of hip and/or expensive things in the area? 2025?

Also banking on a residential conversion or 2 nearby.

[pip]

Great news Chicago!

[Randomguy34]

A good friend of mine grew up near Broadway & Wall St in Lower Manhattan when the area was transforming into a mixed-use neighborhood after 9/11. His building was a part of a wave of old bank offices being converted to residential when office vacancies rose to 15.2% and residential vacancies were 45%. He said the area was surprisingly affordable when they first moved, but over the next decade became increasingly expensive as more high-income residents and workers started moving into the area. The opening of the new WTC complex and the flood of tourists and corporate workers really seemed to be what brought in a flurry of ritzy goods in the area. Now the area has several upscale restaurants, high-end jewelry and fashion stores, luxury hotels such as Nobu, and plenty of other expensive ass stuff.

LaSalle St at the rest of the Loop will likely follow in the same path as Manhattan's Financial District's evolution. The Thompson Center will bring in thousands of Google workers at a time when thousands of other workers will occupy millions of square feet of office space that has opened along Wacker Dr and the river. A sizeable chunk of them will want to live nearby, which will likely trigger a wave of residential conversions around the area. If several of the recent ideas to transform Lasalle St are implemented, I can imagine many more residents and tourists wanting to visit the area. All of these will really act as a feedback loop (no pun intended), and turn the area into a mixed-use district. If folks want a more detailed description of Lower Manhattan's transformation and see what The Loop may look like, below is a report by the NYC Department of City Planning

Report: https://www1.nyc.gov/assets/planning/download/pdf/data-maps/nyc-population/pre_post_911.pdf

[pilsenarch]

This is the most positive thing to happen to the Loop since Millennium Park.

Google presence here will do for the Loop what McDonalds and Google started in Fulton Market.

[galleyfox]

LOL, Illinois.

Can’t forget to move the Dubuffet Sculpture.





https://twitter.com/govpritzker/status/1552667631672442881?s=21&t=2c2sYgE5ExYnkUsd3T8PCQ

[Randomguy34]

Originally Posted by pilsenarch

This is the most positive thing to happen to the Loop since Millennium Park.

^ apparently DNC folks were enthused about the news. We also now have some figures of Google's expansion plans. They're planning to grow by around 5000 workers over the next four years, so 7000 in total!


Google expansion will enhance Chicago's tech cred

The tech giant will move into the James R. Thompson Center and is expected to add up to 5,000 jobs over the next four years, more than tripling its current local workforce to about 7,000, sources familiar with its plans say. Google declined to comment on its hiring goals.
....
Until a few years ago, Google had about 1,000 workers in Chicago and more than 7,000 in New York City. That gap could narrow significantly now, making Chicago seem like more of a hub and less of an outpost.
....
Pritzker said the Google news already was paying dividends yesterday when he met with officials from the Democratic National Committee who were wrapping up their visit to evaluate Chicago as a potential host for the party’s 2024 national convention.

“They heard about it. When I walked in the room, they said, ‘My God, this is huge.’ They all were excited about what this will mean for Chicago," the governor added. "People will see Google as a central piece in downtown Chicago. You can feel it already.”

https://www.chicagobusiness.com/john-pletz-technology/google-expansion-chicago-tech-cred

[ardecila]

Originally Posted by galleyfox

LOL, Illinois.

Can’t forget to move the Dubuffet Sculpture.

There is already an amazing modernist fountain by Russell Secrest in front of the Harris Building and a nice seating area. Can't wait for the state to turn this into a sterile plaza where nobody is allowed to sit down.

http://chicagopublicart.blogspot.com/2013/10/harris-bank-fountain.html

[twister244]

Originally Posted by Randomguy34

^ apparently DNC folks were enthused about the news. We also now have some figures of Google's expansion plans. They're planning to grow by around 5000 workers over the next four years, so 7000 in total!


Google expansion will enhance Chicago's tech cred

https://www.chicagobusiness.com/john-pletz-technology/google-expansion-chicago-tech-cred

I would absolutely LOVE to see Chicago become more of a tech hub. As someone who has thoughts of entrepreneurship in the startup space, I would love to see a larger concentration of VC, accelerators, incubators, etc that bubble up around a growing presence of tech talent.

[rlw777]

Wow this is huge for the loop. Hopefully this helps some other developments that have been languishing like the Reid Murdoch Building hotel and 130 N Franklin.

[Tombstoner]

As a resident of the Loop, I am also excited by the prospect that this can be the start of a broader revival of a positive Chicago narrative. My concern, however, is that the powers-that-be will see this as a "HUGE WIN--YAY US!!! We dodged a bullet! Let's milk the sh** out of this as this buys us MORE TIME (certainly until after the next elections) to ignore the fact that streets are trashed, people are afraid to be out after 10pm, police turn a blind eye to ass***** using major thoroughfares as drag strips on which they can blare shi*** music...this is the get out of jail free card we've been waiting for!!!!"
It's too simplistic to lay blame for the city's ills at the feet of LL/Dem machine--it just seems like ANY powers-that-be are looking to the next election cycle and are more than willing to piss away opportunities that require vision/courage/work. Having Google move in and then not feel they can't make the go of it they'd hoped for (not getting people to work there, not acting as a real tech incubator) would be tragic. PLEASE don't f*** it up, Chicago powers-that-be.

[Zapatan]

2026? I guess renovations will take a while.

Still amazing news for the the loop and Chicago as a whole.

[rivernorthlurker]

Originally Posted by Zapatan

2026? I guess renovations will take a while.

Still amazing news for the the loop and Chicago as a whole.

Yeah, it is a ways off, but impact on future property value, planning, and perception of the Loop from others in the market will be immediate.

[Randomguy34]

Originally Posted by rivernorthlurker

Yeah, it is a ways off, but impact on future property value, planning, and perception of the Loop from others in the market will be immediate.

Exactly. According to Crain's source, if Chicago's Google hub will employ 7000 people, that'll be their 2nd largest in the world next to NYC's soon to be 14000 workers. Chicago's hub will have more workers than even Google's HQ in Mountain View! The company clearly has tremendous confidence in Chicago, and that will be a major signal to any tech company on the fence about expanding in the city.

[marothisu]

Crains has a new article up on how this happened. Apparently it happened really fast as Reschke reconnected with someone he knew before who became the head or high up with Google real estate. He said they were looking to significantly expand in Chicago and saw his company had purchased Thomspon Center. The state and Pritzker weren't tied to thompson center and saw hoe big Google taking it up was. And luckily Reschke bought 2 more buildings down the street. So very quickly Pritzker agreed to go into the old BMO Harris building to let Google realize their massive expansion plans in Chicago more.

Also mentioned in the article is that Reschke is considering turning the top 10 floors of 111 W Madison into 300 new apartments.

[Briguy]

Originally Posted by marothisu

Crains has a new article up on how this happened. Apparently it happened really fast as Reschke reconnected with someone he knew before who became the head or high up with Google real estate. He said they were looking to significantly expand in Chicago and saw his company had purchased Thomspon Center. The state and Pritzker weren't tied to thompson center and saw hoe big Google taking it up was. And luckily Reschke bought 2 more buildings down the street. So very quickly Pritzker agreed to go into the old BMO Harris building to let Google realize their massive expansion plans in Chicago more.

Also mentioned in the article is that Reschke is considering turning the top 10 floors of 111 W Madison into 300 new apartments.

AND he's converting 10 floors of old Harris into apts? This is the exact person Chicago needs to drive the loop forward into a post covid era. Also he's gonna make some serious money on a very risky bet so good for him.

[BruceP]

Originally Posted by marothisu

Also mentioned in the article is that Reschke is considering turning the top 10 floors of 111 W Madison into 300 new apartments.

Where's 111 W Madison? There's 105 W on the corner of Clark and 123 W mid-block. Are you talking about 111 W Monroe? Either way, how do you stuff 300 apartments into just 10 floors?