CHICAGO | General Developments

[UrbanLibertine]

Is that development on the east or west side of that block?

Originally Posted by oshkeoto

Some photo-less (sorry!) news from the South Side:

1. Two large courtyard buildings on King Drive just north of the Green Line stop on 63rd in Woodlawn, which have been boarded up and vacant for as long as I've known them, appear to be getting rehabbed. The one farther north has had all its boards removed and now has what appear to be new windows with permits in them; the one to the south still has some boards up, but most have been taken down. I saw some people going in - weren't wearing uniforms or hard hats, though, so I'm not sure who they were. (They were locking and unlocking the gate, so they weren't scavengers or anything.)

2. Just around the corner on 61st and Eberhart, a new cafe has opened in a formerly vacant storefront - Greenline Coffee. I went there around lunch today, and it was almost full. The cafe itself is something that wouldn't be at all out of place in Ukrainian Village or Logan Square.

3. The CHA-linked three- and six-flats on Calumet between 47th and 48th are nearly done, and have filled in nearly an entire block face right next to the Green Line stop.

4. Along State St., between 35th and 39th, several large buildings are under construction - also, I assume, CHA-related. They're filling in the State St. streetwall pretty nicely, though.

On the subject of South Side development: has anyone been by the Walmart mixed-use project at 47th and Cottage Grove recently? I'd imagine it's almost done by now.

[LouisVanDerWright]

Originally Posted by oshkeoto

Some photo-less (sorry!) news from the South Side:

1. Two large courtyard buildings on King Drive just north of the Green Line stop on 63rd in Woodlawn, which have been boarded up and vacant for as long as I've known them, appear to be getting rehabbed. The one farther north has had all its boards removed and now has what appear to be new windows with permits in them; the one to the south still has some boards up, but most have been taken down. I saw some people going in - weren't wearing uniforms or hard hats, though, so I'm not sure who they were. (They were locking and unlocking the gate, so they weren't scavengers or anything.)

2. Just around the corner on 61st and Eberhart, a new cafe has opened in a formerly vacant storefront - Greenline Coffee. I went there around lunch today, and it was almost full. The cafe itself is something that wouldn't be at all out of place in Ukrainian Village or Logan Square.

3. The CHA-linked three- and six-flats on Calumet between 47th and 48th are nearly done, and have filled in nearly an entire block face right next to the Green Line stop.

4. Along State St., between 35th and 39th, several large buildings are under construction - also, I assume, CHA-related. They're filling in the State St. streetwall pretty nicely, though.

On the subject of South Side development: has anyone been by the Walmart mixed-use project at 47th and Cottage Grove recently? I'd imagine it's almost done by now.

This is why I think an Obama Library West of the park is so important. There is already an awful lot of tinder between the Freeway and the developed areas along the lake and I think all it would take to spark a conflagration is some serious security enforcement. With an asset like Obama Library, you know there will be no funny business for a large radius in all directions as Federal police and University of Chicago security will pour in to the area back up the CPD. I could see Hyde Park gentrification spilling over into the area pretty quickly as the freeway presents a natural barrier for the development to back up against.

[oshkeoto]

^ The Calumet stuff is on the west side of the block.

[Busy Bee]

Originally Posted by killaviews

Every time I see the old Montgomery Ward building I want to scream because they didn't restore the pyramid roof! It would look so damn cool if they would haven hopefully one of these days someone will push for it.

Reminder:


)()()(

[Chi-Sky21]

Never knew it used to look like that. Wow, that did look better then. Thanks for the pics and the info!

[harryc]

^^ that massing makes the difference.

[BrinChi]

Big lease a step forward in Pru Plaza turnaround

"Prudential Plaza's owners are spending $85 million on renovations including a soon-to-be-completed amenities floor on the 11th floor of One Pru, which will have a 13,000-square-foot roof deck, 12,000-square-foot fitness center and 7,000-square-foot tenant clubhouse, according to Telos. Major renovations of the lobby and plaza also are planned."

Doesn't mention a restaurant on the 40th floor, but that may not be relevant for the article.

Originally Posted by wierdaaron

There was talk a while ago about the Prudential Building (the old one) getting some kind of new retail or a plaza atop their ~15th floor setback, as well as a new restaurant on their 40th floor roof.

I'm hoping the earlier news wasn't misreported and they aren't only doing a rooftop restaurant at the lower level. A 40th floor rooftop would be amazing at that location.

[the urban politician]

Originally Posted by ardecila

Illinois Center, Lakeshore East, and Streeterville are not desirable places for offices because they aren't close to Ogilvie/Union Station. If you live in the suburbs, getting to these areas from Metra terminals can add another 20-30 minutes to your commute.

Also, these areas are not close to L stations either. Illinois Center is kinda near Randolph/Wabash, but that station is going away next year.

Really the only way to get to these areas* is to drive (and sit in traffic) or take a bus (and sit in traffic). Maybe this new Loop BRT bus line will help boost the desirability of existing offices in the area, but it is not enough to spark new construction.

*This ignores Metra Electric, because unfortunately the South Side and south suburbs are not desirable places to live for many office workers...

Originally Posted by BrinChi

Big lease a step forward in Pru Plaza turnaround

"Prudential Plaza's owners are spending $85 million on renovations including a soon-to-be-completed amenities floor on the 11th floor of One Pru, which will have a 13,000-square-foot roof deck, 12,000-square-foot fitness center and 7,000-square-foot tenant clubhouse, according to Telos. Major renovations of the lobby and plaza also are planned."

I wouldn't count out the East Loop/Illinois Center quite yet.

While it is distant from the west loop commuter stations, it is still available by L, more easily available by the new BRT line, and with more and more people living in River North, south Streeterville, E. Loop & LSE it is a relatively short commute for a lot of people by foot.

With Chicago's downtown being so compact and increasingly residential, my guess is that various forms of office will be desirable in multiple locations. Look at River North, for example, which has the lowest vacancy these days--it's not that close to the Metra stations either.

[Ryanrule]

What we need is a proper dowbtown loop subway connecting the pier, Michigan, river north , union station, millennium station, the park, the museum campus, the stadium, and the Lucas museum.

Also, automate the system.

[ardecila]

Originally Posted by the urban politician

With Chicago's downtown being so compact and increasingly residential, my guess is that various forms of office will be desirable in multiple locations. Look at River North, for example, which has the lowest vacancy these days--it's not that close to the Metra stations either.

River North has the lowest vacancy but it's also the second-smallest submarket in terms of SF after North Michigan. It only has 1/3 the space of the Central Loop and 1/2 the space of the East Loop (including Illinois Center) but it covers an even broader area geographically.

A lot of the River North space is in small loft buildings, which are attractive to growing sectors of the economy (tech, design, etc) in ways that the Illinois Center and Streeterville skyscrapers are not. Also, River North has direct access to the Red and Brown Lines and it's fairly easy to bike, bus, or even drive in from the west, so it doesn't have the same transportation challenges. It's not convenient to Metra, true, but those growing sectors of the economy don't tend to employ a lot of suburbanites or a lot of older people generally.

Right now West Loop office is growing, but it doesn't have easy access to Metra or the North Side CTA lines. We'll have to see if this trend picks up speed or dies out. Certainly there are tons of cheap, cool Pilsen apartments just a short Pink Line ride away from Google's new offices.

[ardecila]

reposted from 375 E Wacker thread

Originally Posted by sentinel

Huh? So what? You're making an assumption that just suburban shlubs work in office buildings in that area, when there are already a number of office buildins within a one-block radius, occupied most likely by both suburban and City dwellers. And considering that not every single suburban office worker in the City takes the Metra into downtown, not really sure what your argument is against office buildins at Lakeshore East.

These are the guiding forces for office development. "New" creative industries typically have young, strongly city-dwelling workforces and they want cool, flexible space. Traditional downtown industries have more older workers with families and they want easy accessibility to the suburbs.

I'm not trying to claim the East Loop is doomed, just that the current trends do not support any further growth in office space unless:
a) the area adds a bunch of loft space
b) transportation to the area improves

Data shows that the East Loop has the second-highest office vacancy of any downtown submarket. Absorption has not been good in certain quarters but it only takes one large deal to send absorption from red to black and vice versa.

[the urban politician]

Originally Posted by ardecila

reposted from 375 E Wacker thread



These are the guiding forces for office development. "New" creative industries typically have young, strongly city-dwelling workforces and they want cool, flexible space. Traditional downtown industries have more older workers with families and they want easy accessibility to the suburbs.

I'm not trying to claim the East Loop is doomed, just that the current trends do not support any further growth in office space unless:
a) the area adds a bunch of loft space
b) transportation to the area improves

Data shows that the East Loop has the second-highest office vacancy of any downtown submarket. Absorption has not been good in certain quarters but it only takes one large deal to send absorption from red to black and vice versa.

You're still missing my point. You are making this analysis completely ignoring the fact that the highest population growth in Chicago right now is DOWNTOWN.

Tens of thousands of people, the kinds of people who work in professional jobs, are moving into condos, lofts, apartment buildings, townhomes that are within walking distance to the East Loop office buildings.

This is different from 20 years ago, when it was imperative that office buildings have access to suburban workers, or workers from the neighborhood. Tons of people are available now who can simply walk to Illinois center, and that number continues to grow.

[LouisVanDerWright]

Originally Posted by the urban politician

You're still missing my point. You are making this analysis completely ignoring the fact that the highest population growth in Chicago right now is DOWNTOWN.

Tens of thousands of people, the kinds of people who work in professional jobs, are moving into condos, lofts, apartment buildings, townhomes that are within walking distance to the East Loop office buildings.

This is different from 20 years ago, when it was imperative that office buildings have access to suburban workers, or workers from the neighborhood. Tons of people are available now who can simply walk to Illinois center, and that number continues to grow.

When firms choose to locate their offices, they don't care where the "highest population" is, they care about where the most central location is. I don't see how anyone is going to describe the East Loop as "central". Ardeclia is right, office users don't want to locate so far away from access to the suburbs because they don't want to piss of the employees they have who live out there on behalf of the employees they have that live in Aqua. I see this all the time, an office user from Deerfield might relocate downtown, but they decide to locate in O'Hare because they want to be close to their old employment base. But no one ever wants to locate somewhere that is only convenient for a small portion of their employees.

So, even though times have changed, it is still important to retain access to the suburbs. In fact, most of the people making decisions now still live in the suburbs as they are still usually baby boomers who are committed to that lifestyle. The West Loop is the future of Chicago's office market particularly as we continue to poach more jobs from the suburbs.

[wierdaaron]

I've been out of the loop for a few days. Here's what the prison at Clark/Van Buren's new plaza will look like.

http://chicago.curbed.com/archives/2...-look-like.php


More trees, definitely. A little more inviting, maybe?

Status a week ago:

[jcchii]

^ just for the record it's a federal jail, all pre-trial detainees

(you're held in jail and sentenced to prison)

[Mr Downtown]

^A north-facing plaza, under the L, no food or drink, few seats, under constant scrutiny from guards, not on the path from anywhere to anywhere . . . . more inviting, how?

And a fair number of detainees do serve short terms in this facility, so it's both jail and prison.

[wierdaaron]

I dunno, man, I'm trying to look on the bright side. When that parking lot between Dearborn and Federal turns into expensive apartments they'll be able to advertise they're near a brand new plaza in the courtyard of a building design by a famous architect.

[Chi-Sky21]

Originally Posted by LouisVanDerWright

. The West Loop is the future of Chicago's office market particularly as we continue to poach more jobs from the suburbs.

From the River to Kennedy is what makes the most sense for new office towers to me (after the batch at the confluence). I am KIND OF disappointed that a lot of these parking lots are filling with 10+ story residential buildings. But any density is good.

[Chicago Shawn]

Originally Posted by the urban politician

You're still missing my point. You are making this analysis completely ignoring the fact that the highest population growth in Chicago right now is DOWNTOWN.

Tens of thousands of people, the kinds of people who work in professional jobs, are moving into condos, lofts, apartment buildings, townhomes that are within walking distance to the East Loop office buildings.

This is different from 20 years ago, when it was imperative that office buildings have access to suburban workers, or workers from the neighborhood. Tons of people are available now who can simply walk to Illinois center, and that number continues to grow.

Not to mention the passenger volume of Millennium station below Illinois Center and the direct access to the Pedway system. Plenty of suburbanites choose or are choosing to live in Indiana because you get more bang for the buck if suburbia is your thing.

[sentinel]

Originally Posted by ardecila

Illinois Center, Lakeshore East, and Streeterville are not desirable places for offices because they aren't close to Ogilvie/Union Station. If you live in the suburbs, getting to these areas from Metra terminals can add another 20-30 minutes to your commute.

Also, these areas are not close to L stations either. Illinois Center is kinda near Randolph/Wabash, but that station is going away next year.

Really the only way to get to these areas* is to drive (and sit in traffic) or take a bus (and sit in traffic). Maybe this new Loop BRT bus line will help boost the desirability of existing offices in the area, but it is not enough to spark new construction.

*This ignores Metra Electric, because unfortunately the South Side and south suburbs are not desirable places to live for many office workers...

Huh? So what? You're making an assumption that just suburban shlubs work in office buildings in that area, when there are already a number of office buildins within a one-block radius, occupied most likely by both suburban and City dwellers. And considering that not every single suburban office worker in the City takes the Metra into downtown, not really sure what your argument is against office buildins at Lakeshore East.