CHICAGO | General Developments

[Baronvonellis]

http://www.suntimes.com/21396905-761...september.html

Saying work could start on the old post office by September. I wonder if this is actually going to happen. They are projecting a 1st phase that might take 8-10 years with 2150 units including a 1000' tower. Can you really build a 1000' tower on top of the post office? Is it that massively over engineered or would they drill down caisson through the structure? This would be like a new lakeshore east size development which took about that long too, but without lake and park views. And who would want to live in the building in the center without any windows or light and above an expressway? Seems like a tough sell. The massive amount of retail seems hard to believe. Since block 37 and the Roosevelt collection are struggling to lease up.

[wierdaaron]

I thought "Phase 1" was just to gut the current structure and turn it into retail and a small amount of homes, and the towers come later.

[emathias]

Originally Posted by Baronvonellis

http://www.suntimes.com/21396905-761...september.html

Saying work could start on the old post office by September. I wonder if this is actually going to happen. They are projecting a 1st phase that might take 8-10 years with 2150 units including a 1000' tower. Can you really build a 1000' tower on top of the post office? Is it that massively over engineered or would they drill down caisson through the structure? This would be like a new lakeshore east size development which took about that long too, but without lake and park views. And who would want to live in the building in the center without any windows or light and above an expressway? Seems like a tough sell. The massive amount of retail seems hard to believe. Since block 37 and the Roosevelt collection are struggling to lease up.

It says the 1000' tower would be next to the NE side, not on top of it. If the units can be built out inexpensively enough, people would move in if it was cheap enough, just for the proximity to the Loop. As far as retail goes, the problem with the Roosevelt Collection and Block 37 was a combination of bad timing with the economy and a lack of scale and "critical mass". The Post Office has the size to create it's own scale. It's basically a "go big or go home" gamble, but if the developer can get multiple destination-quality tenants at the same time, there is a much greater chance of success than a smaller development with just a couple small stores trickling in one at a time.

[Mr Downtown]

The pretend 1000-foot tower and most of the pretend retail is between the existing buildings and the river:

[Rizzo]

I'd love to believe the post office project but I'm still not convinced. I can see the old building itself being converted to something maybe not quite as grand. You could certainly fit a hell of a lot of cars in there if you wanted.

[MultiModal]

Originally Posted by Hayward

I'd love to believe the post office project but I'm still not convinced. I can see the old building itself being converted to something maybe not quite as grand. You could certainly fit a hell of a lot of cars in there if you wanted.

They did mention the post office as a possible destination for the Chicago Casino. I hope not.

[wierdaaron]

Indoor water park. Lets get a kickstarter going.

[sentinel]

Originally Posted by Mr Downtown

The pretend 1000-foot tower and most of the pretend retail is between the existing buildings and the river:

Amen.

Not just financing, but an even BIGGER potential obstacle to developing this behemoth is a one-word terror that no one ever seems to discuss: asbestos. 2.5 million gsf covered everywhere in asbestos.
Here's my guess: Davies thought he was getting a bargain when he bid for this building, not realizing potentially ridiculous abatement and/or entombment costs for all of the asbestos, so he and his team of crackpots, realizing too late that they're in wayyyyy over their heads came up with a hair-brained scheme to try and make this look like such a sweet development opportunity by creating a ridiculous pie in the sky proposal. The City, being full of ravenous, greedy local govt idiots started salivating at seeing so many future dollar signs they approved the development scheme as quickly as possible. But Davies wants to make this look as sweet as possible in order to sell it to another unsuspecting rube.

I've been speaking with numerous people in local development about this building over the past 4-5 years and no one wants to touch it, as well as considering Davies too "colorful" to deal with.

I personally think the best option is this:

Sell it back to the one entity that has enough money to deal with asbestos as well as any MEP/S issues that would arise in such a development: the U.S. government. Once those issues have been dealt with, they can sell the northern most third to a hotel developer. I created a schematic layout last year that was able to fit in at least 220 rooms at around 500 sq.ft. Each (Which is somewhat generous for hospitality work) not to mention possibly expanding the lower, eastern end closest to the river to create an amenities area for a pool, meeting/ballrooms, restaurants whatever.

Step 3: create an archive/museum for the middle, largest portion. The Smithsonian Institute is literally bursting at the seams. How incredible would it be to have a Chicago satellite of the venerable institution with a shit ton of empty space to maintain all of the extra stuff, and then some?? Talk about instantly making a must-go-to place to visit that could also bring in scholarly folk in droves:

http://www.washingtonpost.com/entert...20d_story.html

Finally, let the U.S. govt take over the southern most end and fit some offices for the EPA or some such federal agency.

Done.

[wierdaaron]

Smithsonian museum isn't a bad idea, especially since it is itself a classic piece of Americana.



I can't imagine what that part of town would do with a real increase in tourism and foot traffic, regardless of what happens.

[sentinel]

Originally Posted by wierdaaron

Smithsonian museum isn't a bad idea, especially since it is itself a classic piece of Americana.



I can't imagine what that part of town would do with a real increase in tourism and foot traffic, regardless of what happens.

Personally, I think that two story Art Deco lobby would be ideal for a high-end hotel.

[J_M_Tungsten]

Agreed. And I think the lobby would draw people in just from knowing the movie; at least the locals (me )

[BVictor1]

Originally Posted by Baronvonellis

http://www.suntimes.com/21396905-761...september.html

Saying work could start on the old post office by September. I wonder if this is actually going to happen. They are projecting a 1st phase that might take 8-10 years with 2150 units including a 1000' tower. Can you really build a 1000' tower on top of the post office? Is it that massively over engineered or would they drill down caisson through the structure? This would be like a new lakeshore east size development which took about that long too, but without lake and park views. And who would want to live in the building in the center without any windows or light and above an expressway? Seems like a tough sell. The massive amount of retail seems hard to believe. Since block 37 and the Roosevelt collection are struggling to lease up.

The towers aren't going to be built on top of the Post Office. A podium structure with retail will be built between the P.O. and the river on the east side of the main building. There will be a tower on that podium on the north and south side of Congress. The Holiday Inn on Canal will be demolished and a 15-story parking structure will be built on that site with a tower eventually going atop that.

[marothisu]

This isn't nearly as exciting as the Post Office development, but some more infill is coming to Division St near the old Cabrini Green site. 8 detached unit building at 500 W Division (Division & Cleveland) which is currently an empty lot. It sits right west of City Farm. This is right near the new Target at Division and Larrabee.

https://data.cityofchicago.org/Build...r8-5enu/293688

[ardecila]

Hmmm... architect is John Hanna. Should be some quality modern infill.

[Rizzo]

Originally Posted by ardecila

Hmmm... architect is John Hanna. Should be some quality modern infill.

Good. That area needs a mix of stuff. This, plus that other proposed tower thing will start to make this feel more like a neighborhood than some private subdivision. It's just got this sterile vibe with all the cut and paste buildings.

There also needs to be another through street just west of the target.

[marothisu]

I need to learn more names of architects. I am a fan of modernist design/architecture when done right - I like his stuff and definitely recognize it. I searched in the database and he's on a number of projects for new construction lately.

A number of single family homes actually, but here's some "larger" projects where he's the architect:

* 2008 N Whipple (Whipple & Armitage) | Humboldt Park | 24 detached units
* 1809 W Chicago (Wood & Chicago) | East Village | 9 detached units, 4 stories
* 1929 and 1935 N California (California & Armitage) | Logan Square | 6 units and 1 floor commercial each building

Bunch more though

[emathias]

Originally Posted by sentinel

Personally, I think that two story Art Deco lobby would be ideal for a high-end hotel.

Or a pretty sweet bowling alley.

[SamInTheLoop]

Originally Posted by BVictor1

The towers aren't going to be built on top of the Post Office. A podium structure with retail will be built between the P.O. and the river on the east side of the main building. There will be a tower on that podium on the north and south side of Congress. The Holiday Inn on Canal will be demolished and a 15-story parking structure will be built on that site with a tower eventually going atop that.

The towers aren't going to be built - full stop. This is not a real project - never has been. Nobody should be silly enough to fall for this one. If anyone still does, a claim can not be made that there weren't repeated warnings.....

[Baronvonellis]

What if Chicago were to become a destionation for international investors to park their money I could see this happening as a possibility sometime in the future? Stuff like this is built in Miami, why can't Chicago be a place for that along with New York. For international investors Chicago is a tier A city with a very diversified economy, why not put your money in Chicago as well as New York and Miami.

[The Pimp]

Originally Posted by Baronvonellis

http://www.suntimes.com/21396905-761...september.html

Saying work could start on the old post office by September. I wonder if this is actually going to happen. They are projecting a 1st phase that might take 8-10 years with 2150 units including a 1000' tower. Can you really build a 1000' tower on top of the post office? Is it that massively over engineered or would they drill down caisson through the structure? This would be like a new lakeshore east size development which took about that long too, but without lake and park views. And who would want to live in the building in the center without any windows or light and above an expressway? Seems like a tough sell. The massive amount of retail seems hard to believe. Since block 37 and the Roosevelt collection are struggling to lease up.

Don't hold your breath. I've got a crisp $100 bill that says this project is nothing more than smoke. Takers???