CHICAGO | Aqua | 858 FT / 262 M | 87 FLOORS

[jc5680]

Originally Posted by 10023

Grocery retail is a scale business. Maybe Chicago is close enough its Southeast Wisconsin market to ship from distribution centers outside Milwaukee every day, but generally you don't open a single location in a market. You need enough locations to justify the local ad spending and distribution. That's why grocery chains typically expand into new markets by acquiring established local chains (in Chicago, Dominick's was bought by Safeway and Jewel was bought by Albertson's).

Maybe they plan to open a few dozen stores around Chicago in the next couple years, and take on the much larger Safeway and Albertson's, or they think they can profitably run a mid-market grocer without local scale, but it doesn't make as much sense as you'd think given the particulars of grocery retail.

I thought I had heard on the news last night that Roundy's was opening up a location, but it was on the near north side. Did a bit of digging, and it looks like they are opening up 12 stores in the next 3 years here. First one is planned for 1515 north halsted. A new 80,000 sq ft building replacing an old YMCA. All of which is supposed to carry a new name (not Roundys)

That said, I couldn't think of a much better place to put a large grocer. LSE as it stands could already support it, and it is only going to get more dense over there. Not to mention a probably good stream of lunch traffic from the surrounding commercial buildings.

http://www.jsonline.com/business/29332914.html

[Nowhereman1280]

Roundy's is very well round and intelligent company. I have a friend whose mother was one of the executives there and that company runs a tight ship. He had a job at the Metro Market in Milwaukee and I have to say that store is great, I love it. Apparently they treat their employees really well too. Sounds like a concept that could break into Chicago pretty well...

[Markitect]

Roundy's Supermarkets Inc. (HQed in Downtown Milwaukee) is owned by an investment firm from Chicago. The Chairman and CEO of Roundy's was formerly the CEO of the Dominick's chain of supermarkets (pre-Safeway takeover).

[woodrow]

I too recently read that Roundy's has been planning 12-15 stores in Chicago. This is a great location for a downtown store. River North, Streeterville, South Loop, West Loop all have grocery stores. South of the river, east loop? Nothing. Good central city location in an area with a high number of residents AND office workers.

[10023]

Got it. Wasn't aware there was a big expansion planned, in which case this makes perfect sense. It's been a couple years since I've worked in the retail sector.

[SolarWind]

February 19, 2009

[harryc]

[spyguy]

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=33076

Roundy’s plans store in Lakeshore East
By Eddie Baeb, Feb. 20, 2009

...David Carlins, president of Magellan Development Group LLC, says he’s in talks with lenders for a roughly $40-million construction loan to finance the 140,000-square-foot building, which is to cost $60 million. Mr. Carlins hopes to get the loan and break ground in about 90 days

...At Lakeshore East, Fifth Third Bank has also leased space for a branch in the new retail building, and Mr. Carlins says Magellan plans to have a breakfast restaurant there.

“We’ve got Caffé Rom (located in a nearby apartment building) as our neighborhood coffee shop, but you need a breakfast place,” he says. “Now we’re looking for an Irish pub.”

[wrab]

Originally Posted by SolarWind

February 19, 2009

Wow -just about a perfect exposure. The shadow play from the balconies is very interesting on this tower - another pleasant surprise on a building already packed with "suprise and delight" features (to borrow a phrase from the auto industry).

[honte]

^ Yeah, Solar has done it again - educating the masses. This is the first shot so far where I feel the railings add something useful aesthetically.

[Jibba]

[JustinL]

I love your picture solarwind.

I got to see Aqua in person finally. Love it. Such character.

Sorry, about a week old.

[Ch.G, Ch.G]

Solar, harryc, Jibba, JustinL: great photos. This one especially struck me:

Originally Posted by JustinL

[jc5680]

2.24

[lawfin]

^^Thats great

[scalziand]

^^ That last shot really shows how the balconies help expand the view corridors.

[EarlyBuyer]

Chicago Sun Times

"...Swissotel Chicago, 323 E. Wacker, said it will open a 30,000-square-foot combination of ballrooms and meeting spaces in April. The hotel described it as one of the largest event spaces in Chicago..."

http://www.suntimes.com/business/roeder/1448083,CST-FIN-roeder25.article#VOTE

[george]

[left of center]

^ chicago needs more buildings like this. i mean, wow. just wow. fantastic shot, george!

[BVictor1]

02/22/09