CHICAGO | Highrise Projects & Construction, v7

[the urban politician]

^ With more McDonalds leadership living downtown and having to see this out-of-place atrocity, that may actually happen

[Steely Dan]

a BIG thank you to solar wind for getting this thread back on track with all of the wonderful construction pics!

it's a welcome change from the back and forth off topic nonsense of the previous two days. great job!

[marothisu]

Looks like 640 N Wells is close to topping out.

[VKChaz]

Originally Posted by the urban politician

^ With more McDonalds leadership living downtown and having to see this out-of-place atrocity, that may actually happen

Does anyone know if the site is owned by the McDonalds company?

[sentinel]

Originally Posted by VKChaz

Does anyone know if the site is owned by the McDonalds company?

Yes, I believe this is corporate-owned and not a franchise site, since it is considered a 'flagship' restaurant. Other US flagships: NYC Times Square, Las Vegas strip (2-3 stories) and Oakbrook Center near their current HQ.

This facility was built as the '50th Anniversary' celebration design...so unfortunately, I don't think it's gonna be on the market anytime soon...HOWEVER, since corporate has been selling many more stores to reduce their number of restaurants (and selling to franchisees), that might change for this hulking monstrosity, if there is a developer willing to pay the right price for the land.

Addendum: The original design was supposed to be from a winning competition, and I believe (Murphy) JAHN won that...then the in-house corporate team of architects and designers started feeling threatened so they completed nixed that design and created a weird, modernized representation of the original restaurant. On steroids.

[Jim in Chicago]

Originally Posted by sentinel

Yes, I believe this is corporate-owned and not a franchise site, since it is considered a 'flagship' restaurant. Other US flagships: NYC Times Square, Las Vegas strip (2-3 stories) and Oakbrook Center near their current HQ.

This facility was built as the '50th Anniversary' celebration design...so unfortunately, I don't think it's gonna be on the market anytime soon...HOWEVER, since corporate has been selling many more stores to reduce their number of restaurants (and selling to franchisees), that might change for this hulking monstrosity, if there is a developer willing to pay the right price for the land.

Addendum: The original design was supposed to be from a winning competition, and I believe (Murphy) JAHN won that...then the in-house corporate team of architects and designers started feeling threatened so they completed nixed that design and created a weird, modernized representation of the original restaurant. On steroids.

There was also the very fun sort of deconstructed McD's at Harlem and Cicero in Berwyn. Holding down the corner of a very bizarre strip mall that also included things like cars on a spike, and a desconstructed car on one wall of the mall. The McD's existed for many years, but very much sanitized, but has since been replaced.

https://www.whyberwyn.com/featured/a...-cermak-plaza/

[KWILLSKYLINE]

If that land is owned by McDonalds, would that make the price of land be rediculously jacked up, or would it bring it down since it is hated so much? Even though that place makes more off of tourists than Burberry. Wha wha.

[Lakeviewguy]

I think the McDonald's property should be taken by eminent domain and turned into a park. There is a BP station across the street and other poorly used properties in the near vicinity that would be developed virtually overnight if the McDonald's Property was turned into a kind of Millennium Park of River North.

[r18tdi]

Originally Posted by marothisu

Looks like 640 N Wells is close to topping out.

I think it's already there.

[Near North Resident]

Originally Posted by BrandonJXN

It's been said before but it bears repeating: That McDonalds needs to go.

I believe I read somewhere it is one of the most profitable corporate owned McDonalds in the world... it ain't going anywhere

[r18tdi]

Originally Posted by Near North Resident

I believe I read somewhere it is one of the most profitable corporate owned McDonalds in the world... it ain't going anywhere

That parking lot also has to be a cash cow.

[deebirch]

Originally Posted by Near North Resident

I believe I read somewhere it is one of the most profitable corporate owned McDonalds in the world... it ain't going anywhere

If you've ever been to this location after a Friday/Saturday night out, you can attest to the validity of this statement.

[marothisu]

As far as I know, McDonald's pretty much owns all of the land at all of its franchises, but the franchisee's run the business that is occupied on said land. To my knowledge, this is actually how a lot of these franchise companies like McDonald's potentially make tons of money. The store making $1M/year for its franchisee is great for them, but they sit on the real estate making a lot of money and I believe the franchisee sees none of that money if they sell. Could be wrong though - a coworker told me this whose wife is a high level executive at a major "professional services" (can't say which one) company.

Originally Posted by r18tdi

That parking lot also has to be a cash cow.

Easily. If I were them, I'd keep a small amount of parking and sell off 3/4 of it. US Bank was smart enough to do that on Clark just north of Chicago Ave to build that new tower. McDonald's would make millions by just selling off 3/4 of the parking lot. Pretty sure for that McDonald's, most of their business comes from people not driving and parking - there's probably a good amount from drive thru so they can keep that but I'd be willing to bet, at least from what I've seen, that most of the cars parking in that lot are not people eating at McDonald's. Even if they were charging $10/day for an average of 150 cars per day, 365 days per year - and that land was worth $20M, it would take McDonald's over 36 years to make $20M off of parking - not counting any taxes, upkeep, etc they have to pay.

[VKChaz]

Originally Posted by Lakeviewguy

I think the McDonald's property should be taken by eminent domain and turned into a park. There is a BP station across the street and other poorly used properties in the near vicinity that would be developed virtually overnight if the McDonald's Property was turned into a kind of Millennium Park of River North.

I had a similar thought but without using eminent domain. Given that McDonalds is a local company with a large local workforce, wondered if it would arrange with the city to redevelop the land into mostly public square (gaining PR benefits or tax benefits and so on). Potential new developments to the sides would then look out onto the square, creating an attractive setting. And, especially in the River North tourist and entertainment area, it could become a very useful, popular and active space.

[emathias]

Originally Posted by deebirch

If you've ever been to this location after a Friday/Saturday night out, you can attest to the validity of this statement.

It's also significantly more expensive than other nearby McDonalds and, in my experience, has some of the worst service of any McDonalds I've been to. You'd think they'd put an excellent manager in that location, but the management staff there must be placed there for political reasons because it seems to run really poorly from a service standpoint.

[10023]

A one square block park in River North would be a dream. But that needs to be a philanthropic effort.

Or perhaps part of a general area renewal project, where the developers pay to acquire the land from McDonald's in exchange for zoning variances for the surrounding parcels (which would of course increase in value)?

[chicubs111]

^^ Talking about prime lots with potential what about that Unitied state post office 1 story building right across the street from Mcdonalds that takes up what seems likes blocks!.. What a waste of space and street level presence killer

[the urban politician]

^ Yeah that thing is horrible. River North is rebooting and some entities haven't gotten the message yet. There is way more value to unlock in that land.

It may take a few more cycles though.

[chicubs111]

while this boom is impressive with its number of apartment buildings and varying designs its not as impressive as the last boom when we had a average higher height of the buildings..(believe 15 to 20 buildings over 500ft under construction at one time.) What ever happen to that push that mayor daley used to emphasize "taller and thinner" buildings...I feel like we moved backwards into the shorter 30 something story building standard again

[emathias]

Originally Posted by chicubs111

^^ Talking about prime lots with potential what about that Unitied state post office 1 story building right across the street from Mcdonalds that takes up what seems likes blocks!.. What a waste of space and street level presence killer

Officially, when the Post Office does vacate it, the City would like that block to turn into a park. It's part of the Central Area Action Plan to create a Ft. Dearborn park there. See the last page on this.