CHICAGO | General Developments

[ardecila]

Fulton Market is already the equivalent of RiNo in Denver in terms of the vibrancy/density of businesses. It's just developing into a more posh area instead of the hipster hangout that RiNo is - different subculture. The Fulton Market area was pioneered by gourmet-minded restaurateurs on Randolph when the hipsters were still confined to Wicker Park, now it has the fanciest restaurants in the city.

Breweries and distilleries won't locate around there as the space is too expensive to be used for actual production. Landlords are looking for tech companies and Michelin-starred restaurants, not light industrial. Once you go west of Ogden, it's a different story... perfect for breweries/distilleries, art facilities, etc (and many are already there) but the buildings tend to be very big and featureless, so you'll never have the urban character that RiNo does in Denver.

The closest analogy to RiNo in Chicago right now is probably Motor Row, with Motor Row Brewing, Baderbrau, etc but it's looking like that will be developed and dominated by McPier as a Disney-esque conventioneer zone. Huge chain restaurants and clubs for large groups, etc. Here's hoping it retains some creative spark and freshness with rotating murals and so on... but I don't expect McPier to do anything remotely risky.

[LouisVanDerWright]

Originally Posted by marothisu

I think you are talking about the building just east of the lot. The majority of the property, which is the lot to the west, has been vacant since at least 2007. Here is a better look. The development would be that building on the left and the lot on the right

https://www.google.com/maps/@41.9174...7i13312!8i6656

It was to the East of the lot (which has been vacant for some time), but it's all part of the parcel that will be redeveloped. Bought some of the ornamentation off the guy who was tearing it down this summer.

[the urban politician]

All the good deals are gone except in extremely crime ridden areas.

What's the next "hot" area? You can scarcely find a property for under $200k any more, even in Pilsen.

[marothisu]

Originally Posted by the urban politician

All the good deals are gone except in extremely crime ridden areas.

What's the next "hot" area? You can scarcely find a property for under $200k any more, even in Pilsen.

If I had to guess, it would probably be something like this:

* McKinley Park - there is some stuff happening there, though not a ton. Property is still cheap and it's on the Orange Line and the ride is not that far from downtown. Some good food there already like La Palapa and the Chinese community has been expanding there with some new business as well in the last few years.

* Bronzeville area - a lot more development has been going on there than people think. Some new businesses, restaurants, etc too in the last few years there. There are some really nice new construction properties in the general area for half the price you'd find in areas on the north side. There are vacant lots there too which are relatively inexpensive. Some parts are near the green line and some are near the lake which is attractive to people in general.

[TimeAgain]

Uptown and Bronzeville seem like the next big areas to take off.

[marothisu]

Originally Posted by TimeAgain

Uptown and Bronzeville seem like the next big areas to take off.

Uptown maybe - I've noticed an uptick in some more trendy places near areas like Wilson. Some places in Uptown though are not totally cheap. The city finally got its first rotary (conveyor belt) sushi place up there. There are a few in the suburbs, but not in the city - until now. Bowtruss is opening at Lawrence soon.

As far as Bronzeville goes, if you go to my new construction map which goes back to early October 2013, you'll notice that Bronzeville area has had in the same ballpark of new construction permits issued than Bridgeport, which people talk way more about. I believe the land in Bronzeville is also cheaper than Bridgeport on average too (not totally cheap, but cheaper). As a result, I think developers can build houses at cheaper prices there than in other parts of town which may require teardowns.

https://www.google.com/maps/d/edit?m...258867186&z=13

[spyguy]

http://abc7chicago.com/hobbies/bike-...unday/1592613/

BIKE PARK AT BIG MARSH OPENS SUNDAY

...Officials also announced the design phase for the new Ford Calumet Environmental Center at Big Marsh. The city says the center will celebrate the region's environmental, cultural and recreational assets. The center will be funded by The Chicago Environmental Fund for $5.5 million and is expected to open in 2018.

Please build the Studio Gang design already

[brian_b]

Originally Posted by ardecila

The closest analogy to RiNo in Chicago right now is probably Motor Row, with Motor Row Brewing, Baderbrau, etc but it's looking like that will be developed and dominated by McPier as a Disney-esque conventioneer zone. Huge chain restaurants and clubs for large groups, etc. Here's hoping it retains some creative spark and freshness with rotating murals and so on... but I don't expect McPier to do anything remotely risky.

McPier is developing the retail/restaurant stuff at the ABC building at Cermak & MLK. Based on community meetings I've attended, they are not doing anything at all along Michigan Ave (Motor Row). That's all organic one-off development.

The hotel tower at Michigan and Cermak is competing with McPier, which might be a factor in why it's taking so long to start.

[sage]

Does anyone know what's going on with the Megamall development? Last I remember, it was supposed to get razed over the summer, with the demo to be completed by Oct. I don't know if that was dependent on getting permits or more financing etc. though.

Also, steel is up to the first floor for the 6 story TOD adjacent to the Western Blue Line (in the old Title Loan lot).

[Via Chicago]

Originally Posted by marothisu

Uptown maybe - I've noticed an uptick in some more trendy places near areas like Wilson. Some places in Uptown though are not totally cheap. The city finally got its first rotary (conveyor belt) sushi place up there. There are a few in the suburbs, but not in the city - until now. Bowtruss is opening at Lawrence soon.

i mean, i dont think conveyor belt sushi is somehow a game changer for uptown or anything. theres always been a concentration of excellent, cheap restaurants there tho. and that includes ethiopian, vietnamese, thai, japanese, and everything in between. i think uptown into edgewater has some of the best eating the city has to offer. the only thing it really lacks is a vibrant bar scene, but i also get the impression that people who move that far north are kind of over the party scene and a bit more settled (or andersonville is close enough to scratch that itch).

and yea, pretty much any SFH in uptown is already pretty expensive (500k at a minimum). the reality is, by the time we're having this conversation the time to jump on a neighborhood is kind of over, at least for seeing some sort of big gain.

[Via Chicago]

Originally Posted by the urban politician

All the good deals are gone except in extremely crime ridden areas.

well, if youre only looking at areas that are already gentrified, then i suppose.

still plenty of cheap property in little village, lawndale, EGP, etc etc.

[marothisu]

Originally Posted by Via Chicago

i mean, i dont think conveyor belt sushi is somehow a game changer for uptown or anything. theres always been a concentration of excellent, cheap restaurants there tho. and that includes ethiopian, vietnamese, thai, japanese, and everything in between. i think uptown into edgewater has some of the best eating the city has to offer. the only thing it really lacks is a vibrant bar scene, but i also get the impression that people who move that far north are kind of over the party scene and a bit more settled (or andersonville is close enough to scratch that itch).

and yea, pretty much any SFH in uptown is already pretty expensive (500k at a minimum). the reality is, by the time we're having this conversation the time to jump on a neighborhood is kind of over, at least for seeing some sort of big gain.

My point was that there are a few new, interesting concepts coming there. It's not like Logan Square or anything like that, just pointing it out.

There are some homes in Uptown that sell for $1M+ too. You might be able to get a cheap condo for like $135K but even that's a good deal. I think Uptown is too expensive to go the way of something like a Logan Square.

I think Bronzeville has a better shot of being the next hot area - and hopefully it doesn't become another lakeview and if it does get to the point, then it is full of interesting business.

[Via Chicago]

Originally Posted by marothisu

My point was that there are a few new, interesting concepts coming there. It's not like Logan Square or anything like that, just pointing it out.

There are some homes in Uptown that sell for $1M+ too. You might be able to get a cheap condo for like $135K but even that's a good deal. I think Uptown is too expensive to go the way of something like a Logan Square.

I think Bronzeville has a better shot of being the next hot area - and hopefully it doesn't become another lakeview and if it does get to the point, then it is full of interesting business.

yea, Uptown SFHs are all pretty big and historic, which is going to command a premium no matter what. and youre right that there are still pretty reasonably priced condos, although its important to remember most of them are in vintage buildings and those that are going for super cheap probably have high HOAs which more than offset that.

bronzeville is a totally different story. the southern boundaries like around 47th street have such a long way to go, although there are definitely pockets of investment and improvements being made here and there. i was driving around recently and theres lots of beautiful SFH rehabs going on, but also unfortunately a ton of vacant land. i really hope theyre able to do something with the Forum, which hopefully could serve as a catalyst to reinvestment on that strip


http://chicagopatterns.com/wp-conten...15-900x599.jpg

[marothisu]

Originally Posted by Via Chicago

yea, Uptown SFHs are all pretty big and historic, which is going to command a premium no matter what. and youre right that there are still pretty affordable condos, although its important to remember most of them are in vintage buildings and those that are going for super cheap probably have high HOAs which more than offset that.

bronzeville is a totally different story. the southern boundaries like around 47th street have such a long way to go, although there are definitely pockets of investment and improvements being made here and there.

My friend got a really good deal a few years ago near Argyle - $130K for his 1000 sq ft 1 bedroom condo. Completed renovated and not a high HOA. Pretty crazy.

Bronzeville has more investment than people realize - it's definitely not idle and there's some really nice homes there - old and new. It has way more vacant lots, but the vacant lots are a steal compared to other parts of town. Of course, less things there, but more has been coming, slowly. I think it's positioned pretty well considering it's near the lake and that to me is more attractive for investors versus somewhere like McKinley Park which isn't near the lake. MP has the train too though so it might come more and more (there's been a small amount of investment there).

[Via Chicago]

Originally Posted by marothisu

My friend got a really good deal a few years ago near Argyle - $130K for his 1000 sq ft 1 bedroom condo. Completed renovated and not a high HOA. Pretty crazy.

although in fairness and 20/20 hindsight, anything involving real estate was a steal a few years ago.

[marothisu]

Originally Posted by Via Chicago

although in fairness and 20/20 hindsight, anything involving real estate was a steal a few years ago.

His was the cheapest condo of similar size in the same area by $60K - 75K at the time. It was so cheap compared to everything else you'd think there was something wrong with it, but there wasn't. Pretty nice place - he got so lucky.

[Jibba]

650 N Morgan


830 N Milwaukee



The Ronsley

[HowardL]

Originally Posted by Jibba

The Ronsley

Thank you for this shot. I noticed the steel work from the Ravenswood the other night and wondered if this had gotten the move on.

[Via Chicago]

are you kidding me with this
https://www.dnainfo.com/chicago/2016...tal-demolished

Saying, "I'm a bit of a historian," McCaffrey said he had always sought to retain the look of those older buildings in any new construction.
..
McCaffrey said the demolition process was going "excellent now"
...
"You can't please everybody," McCaffrey added, "but you're obliged to try."

oh fuck you

McCaffrey said, "Terra cotta is like a china, so it's impossible to bring that much of that type of building down and put it back up."

SO WHY DID YOU SELL THE ENTIRE CITY ON THE NOTION YOU WERE GOING TO DO EXACTLY THAT

ok now im angry. at what point does anyone ever get held accountable for this bullshit.

[the urban politician]

^ Yeah that's bullshit