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Originally Posted by ardecila
Interesting that JDL is basically reaching the same conclusion as Sterling Bay with regard to the density on the site. This is just Lincoln Yards with a folksy, pencil-style rendering.
Maybe they are forced into this level of density given the cost of the land, but I remain very skeptical that any of this is feasible without a lot of money sunk into infrastructure.
Glad to see they are prominently featuring a 606 extension though.
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I think it's just more of a question of who can get this done.....
I haven't paid super close attention to Sterling Bay, but from what it seems like - They completely over leveraged themselves with plots of land to deliver office space - Then Covid happened. Maybe there were other internal issues that hurt their chances of actually getting things off the ground. Given all of that, they basically have given up on LY and handed the keys over to a developer that actually has a record of delivering here in Chicago.
Honestly, I think that's what this boils down to - Who can actually get this off the ground. My gut says this will probably be mostly residential at the end of the day. There's very little market demand for any new office space, let alone office space in this area. JDL is in a good spot to get things going with residential buildings here, and the 606 extension, while we all want, will ultimately depend on local governments getting shovels in the ground to bring the 606 across the Kennedy.