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  #121  
Old Posted Aug 22, 2020, 10:09 AM
CaliNative CaliNative is offline
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Originally Posted by Steely Dan View Post
With interest rates being what they are, and a depressed covid/looting-influenced market, I think you'd be very wise to jump on that shit if you can make it happen.

I'm in the opposite situation, I've got a downtown rental property that my tenant of 8 years is leaving. I'd kinda like to just sell it (being jobless and all, cashing out is very tempting) but I don't think that'd be a smart move at the moment.

If anyone is looking for a VERY affordable studio in marina city for October 1st move-in..........
Define "very affordable". Marina City is over 50 years old. Has the property aged well? It certainly has a good location.
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  #122  
Old Posted Aug 22, 2020, 3:21 PM
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$1,350/month, all-in (includes all utilities including TV/internet).

500 SF, not including a 175 SF balcony, on the 33rd floor with sweeping westward views down Chicago's famous skyscraper river canyon.

Located at state street and the river, it's one of the most central locations in the entire city, a short walk to every el line in the city.

And it's directly across the river from the main branch riverwalk, Chicago's hottest new social/cultural attraction.

And you'd get to live in a bonafide mid-century modern landmark.


Source: wikipedia
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Last edited by Steely Dan; Aug 22, 2020 at 5:08 PM.
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  #123  
Old Posted Aug 22, 2020, 3:38 PM
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^^^ If I consider residency in Chicago and it's still available, I might consider that deal. Sounds pretty good.
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  #124  
Old Posted Aug 22, 2020, 4:07 PM
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Last time I was there, there was a House of Blues at the ground floor of Marina City.
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  #125  
Old Posted Sep 4, 2020, 5:51 PM
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https://commercialobserver.com/2020/...-during-covid/

NYC Hospitality Industry Has Lost 44 Percent of Its Jobs During COVID

Quote:
The restaurant, bar and hotel industry saw a decline of 439,800 jobs, or 43.9 percent, from July 2019 to July 2020. That compares to a 24 percent loss in hospitality jobs nationwide during the same period.
Quote:
The New York area’s transportation, trade and utilities sector lost 200,000 jobs over the past year, while professional and business services declined by 185,000 jobs. There were also 151,000 government jobs lost throughout the region, and 150,900 educational and health services jobs. Retail trade jobs slid by 94,700.
Quote:
All told, the New York-New Jersey-Pennsylvania metropolitan area lost 1.4 million nonfarm jobs, or 13.6 percent of its total nonagricultural employment, over the past year.
https://ny.eater.com/2020/9/3/214182...ose-new-survey

Over 60 Percent of NY Restaurants Could Close By Next Year, Survey Says

Quote:
As many as two-thirds of the state’s restaurants and bars could permanently close by the end of the year if they do not receive substantial government aid, according to a new survey from the New York State Restaurant Association. The survey — based on responses from 1,042 of the state’s more than 50,000 eating establishments — found that 63.6 percent of restaurateurs were “likely” or “somewhat likely” to close in the next four months. More than half of those respondents said they would be forced to close their doors before November if they do not receive some form of financial relief.
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  #126  
Old Posted Sep 4, 2020, 7:27 PM
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Brutal.
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  #127  
Old Posted Sep 5, 2020, 6:36 PM
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  #128  
Old Posted Sep 6, 2020, 5:14 AM
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Quote:
Originally Posted by Hudson11 View Post
The lockdown enthusiasts have taken this too far.
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  #129  
Old Posted Sep 6, 2020, 7:22 AM
CaliNative CaliNative is offline
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Quote:
Originally Posted by Steely Dan View Post
$1,350/month, all-in (includes all utilities including TV/internet).

500 SF, not including a 175 SF balcony, on the 33rd floor with sweeping westward views down Chicago's famous skyscraper river canyon.

Located at state street and the river, it's one of the most central locations in the entire city, a short walk to every el line in the city.

And it's directly across the river from the main branch riverwalk, Chicago's hottest new social/cultural attraction.

And you'd get to live in a bonafide mid-century modern landmark.


Source: wikipedia
Sounds very good. If I were planning to move to Chicago I'd consider it. Chicago is a "toddling town" as Sinatra crooned. I think toddling means fun, lively, exciting. But like most cities it hasn't toddled as much since covid. Chicago will toddle again. People love to party after a shutdown. Chicago really toddled after WW1 (and the 1918-19 flu pandemic). The Roaring 20s, and Chitown famously roared louder than most cities.

Last edited by CaliNative; Sep 6, 2020 at 7:45 AM.
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  #130  
Old Posted Sep 6, 2020, 1:36 PM
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Quote:
Originally Posted by destroycreate View Post
The lockdown enthusiasts have taken this too far.
180,000 dead, but sure. Dining inside is more important.
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  #131  
Old Posted Sep 6, 2020, 6:59 PM
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Or you could phrase it as "another 500,000 NOT dead." Or whatever the additional number would have been.
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  #132  
Old Posted Sep 8, 2020, 10:33 PM
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Quote:
Vacancies on Hayes and Fillmore Streets prompt argument for relaxing the rules on chain stores
By Alex Barreira – Staff Reporter, San Francisco Business Times
Sep 4, 2020, 10:46am PDT Updated Sep 4, 2020, 2:14pm PDT

Along Hayes and Fillmore streets, two of the highest demand areas for San Francisco retail, it's rare to see more than a few spaces available at one time, and they're typically accompanied by a long line of prospective tenants. But the environment created by the pandemic and San Francisco's cautious reopening has led to a new normal: dozens of empty storefronts for the taking.

. . . 23 businesses in the neighborhood have folded, many of them small legacy mom-and-pop stores. Among the casualties are restaurants like Barcino and The Grove, and retailers including Nancy Boy, Vers Unica, Welcome Stranger and Kipper Clothiers.

Pam Mendelsohn, partner at real estate firm Maven Commercial, said she's never seen this many spaces available at once — more than two dozen between Hayes and Fillmore streets, and additional vacancies on the side streets directly off the main drags.

Where she's seeing the most interest in filling them is from midsized chain businesses — those with 10 to 30 locations, capital to spend and the motivation to break into some of the city's highest-demand neighborhoods when landlords on the whole are more flexible with rent and improvements. These businesses are often from out of town and unused to San Francisco's regulatory environment, particularly its restrictions on chain stores . . . .

Hayes Valley is one of three neighborhoods in San Francisco, along with Chinatown and North Beach, with a wholesale ban on formula retail, defined as more than 11 outlets worldwide. On Fillmore Street and in other neighborhood commercial districts throughout the city, a chain with more than 11 stores requires a conditional use permit exemption through the city's Planning Department. This process can drag on for months and lead to exorbitant costs in accumulated rent before approval. It can also get messy, presenting an opportunity for NIMBY voices to pack the halls at public hearings . . . .

However, there's little sign of the rules being loosened.

Last month, the Board of Supervisors passed an ordinance designed to expedite the conditional use permit process for some forms of commercial spaces — but excluded formula retail applicants from the change.

"It's always easier to look at the well-capitalized national and local chains during economic hardship," said San Francisco Supervisor Dean Preston, who represents Hayes Valley as part of District 5. "I don't think we should be transforming the character of neighborhoods that work so hard to be corridors for mom-and-pop businesses and allow them to be open to chain stores."

In Hayes Valley, the chain store ban in place since 2004 continues to enjoy support among some existing merchants and the community.

"This is the time to try new ideas, not more chain stores," said Gail Baugh, longtime Hayes Valley resident and former president of the neighborhood association. With foot traffic recovering as people work from home and commercial rents falling, it opens more chances for local businesses to find space in the neighborhood, she said . . . .

[Lloyd] Silverstein, who runs the neighborhood association's merchant group, said he would be open to some amendments to the ban that would allow chain retail off of the main corridor for businesses like banks or hardware stores that serve community needs, or loosening the restrictions for international chains with little to no U.S. presence.

Over the years well-funded startups with chain ambitions have learned how to navigate around the formula retail ban in Hayes Valley anyway, by prioritizing the neighborhood as one of their early locations. So it went with Away, Warby Parker, Allbirds, Madison Reed and others. Even Gap Inc. scored a store on Octavia Street, now shuttered, for its men's fitness wear brand Hill City by setting it up as a separate operation.

Silverstein said that the community should either find a way to close that loophole or, if not, embrace the destination retail status that the neighborhood has achieved in recent years . . . .

"I don't want my neighborhoods full of chains either, but there are good uses and bad uses," Mendelsohn said, adding that there's a difference between a multinational chain and regional one with 15 or 20 locations. "The word is out — 'Don’t come to San Francisco, it's costly, expensive, and it takes a long time...' The lineup of people who wanted to come here and go through that process has diminished greatly."
https://www.bizjournals.com/sanfranc...pIYmoifQ%3D%3D
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