CHICAGO | General Developments

[ardecila]

What's with the love for the Post Office? It's a huge, flat, undifferentiated brick box. Theoretically, it's "different" from the buildings around it by having flat continuous walls. In practice, it seems hostile and unwelcoming to anybody walking by. It's not good architecture, just boring architecture.

The PO could easily relocate into some space in the old Ward's building, if it hasn't been fully leased yet.

If you wanna make a case for the firehouse, fine. I can see some merit to that at least.

[Pandemonious]

Originally Posted by nomarandlee

can someone tell me how many acres are on a standard city block? I am trying to think how many acres the post office site in River North will be if/when it becomes a park.

This website gives a pretty good explanation of the Chicago grid, and should more than answer your question.
http://www.metroplanning.org/zoningG...g_chicago.html



I am actually also kind of fond of the firehouse on Dearborn. I hope it doesn't get torn down. The post office can be knocked over tomorrow for all I care though, and it is a great spot for a small sized park... which are severely lacking in the northern section of downtown. The one over at the AMA is a good example of a nice little park space, as well as the larger one at Newberry Library.

Hopefully they can do something a little bit unique with this park design.. not as lavish as say Millennium Park, but something a little more thought out than just an open green area with a few trees and benches, would be nice

[honte]

Originally Posted by ardecila

What's with the love for the Post Office? It's a huge, flat, undifferentiated brick box. Theoretically, it's "different" from the buildings around it by having flat continuous walls. In practice, it seems hostile and unwelcoming to anybody walking by. It's not good architecture, just boring architecture.

The PO could easily relocate into some space in the old Ward's building, if it hasn't been fully leased yet.

If you wanna make a case for the firehouse, fine. I can see some merit to that at least.

Well, we've been through this before, and I certainly didn't make any friends in the process... so I will be very brief.

The PO was designed by Myron Goldsmith (Mies, SOM), and is an interesting example of his smaller work. It's not a masterpiece, but it is very high-grade modernism. At one time, I really detested it. Then I found out it was his work, and I decided to give it another shot.

The brickwork is interesting. It is brick veneer that is clearly expressed as brick veneer to be true to construction as Mies would have directed. As such, there are mitered joints at the corners, very unusual in brick construction.

If you take a look at Myron's other brick buildings, which I am guessing not many have because they are few and far between, you may get a better appreciation for his minimalist style and how expertly he handled brick. Then the Post Office might strike you in a different light.

For me, I see it now as a very sensible, handsome, and reserved Modernist building in a sea of tacky and pretty crude concrete high-rises. I think the entry is great. It's stood up well to the elements over time. The waffle slab and honesty in showing the post office operations within is refreshing.

But I would agree that the firehouse is a more powerful and overt design overall.

[honte]

http://chicagorealestatedaily.com/cg...ws.pl?id=25344
June 14, 2007

Lux furniture designer to open store on Near West SideBy Meghan Streit

A luxury furniture designer owned by Kohler Co. Interiors Group plans to open a flagship store this fall on the Near West Side.

The retail store is to occupy the 12,500-square-foot three-story building at 825 W. Chicago Ave. Kohler chose the location because of its prominent corner placement and ample space for parking, says John Paul Beitler III, managing broker at Beitler Properties LLC, who negotiated the 10-year lease on behalf of Kohler.

Despite some retail development, the area currently is not regarded as a popular shopping district.

“We were very much open to the idea of doing some pioneering, and being a catalyst to retail development in the area,” says Lee Ross, manager of business development for Kohler Interiors.

CB Richard Ellis broker Todd Siegel represented building owner River West Management in the transaction.

The designer, Baker Knapp & Tubbs Inc., previously sold much of its furniture through Marshall Field’s. The company continues to sell through Macy’s, but is eager to create a larger presence in Chicago with a stand-alone store, Mr. Ross says.

“They were really having a tough time finding a unique retail space that would act as a backdrop for all of their unique furniture,” Mr. Beitler says.

The building, formerly used as an art gallery, will undergo extensive interior and exterior renovations.

Kohler Co. Interiors Group also includes McGuire, a high-end furniture designer, and Ann Sacks, a tile, stone and plumbing seller. Kohler Interiors is a wholly owned subsidiary of Kohler Co., the Wisconsin-based kitchen and bath manufacturer.

Mr. Beitler also negotiated leases for all three Kohler Interiors brands in Scottsdale, Ariz., where the brands will occupy 12,600 square feet in a store in the Scottsdale Airpark Design Center. The company originally was looking to lease space for a store that would carry only Baker furniture.

Baker presently has a retail store in Deerfield. Mr. Beitler says Kohler Interiors may open additional Chicago-area locations, possibly including a shop that showcases all three brands, as in Scottsdale.

Beitler Properties was founded by Mr. Beitler two years ago as the leasing and management unit of Beitler Real Estae Corp. Mr. Beitler is the son of prominent Chicago developer J. Paul Beitler, who founded Beitler Real Estate Corp. in 1982. Before joining his father’s firm, the younger Mr. Beitler worked for Chicago-based law firm Mayer Brown Rowe & Maw LLP.

[Marcu]

Chicago Merc sweetens bid for CBOT


By Ann Saphir
June 14, 2007

(Crain’s) — The Chicago Mercantile Exchange boosted its offer for the Chicago Board of Trade a second time in an effort to shut out rival bidder IntercontinentalExchange Inc.

CBOT directors embraced the Merc’s latest overture, repeating what they have said since the takeover battle began: that they believe a merger between Chicago’s futures exchanges is a better deal than a CBOT link with Atlanta-based Intercontinental.

But with a July 9 vote approaching, some CBOT members remain unimpressed.

“This just doesn’t do it,” said Lawrence Dorf, a CBOT shareholder who says he’s already voted against the Merc deal. “The Merc still hasn’t addressed the share price issue. They are losing this deal.”

The Merc’s proposal gives CBOT shareholders 0.35 shares of Chicago Mercantile Exchange Holdings Inc. stock for every CBOT share, valuing CBOT at $10.2 billion. Intercontinental’s offer puts CBOT’s value at $11.4 billion.

The Merc’s new offer adds a $9.14-per-share dividend to all CBOT shareholders and guarantees a minimum $500,000 payout for an options-trading right that’s the center of a legal dispute with neighboring Chicago Board Options Exchange.

Intercontinental on Tuesday submitted its own proposal that also guaranteed a $500,000 payment. "We are evaluating the latest CME proposal and continue to believe that ICE's proposal is clearly superior," an Intercontinental spokeswoman said Thursday.

A key difference, Merc CEO Craig Donohue told investors Thursday, is that his deal allows CBOT members to get even more for their exercise right if they opt to stay in the lawsuit against the CBOE and the lawsuit ultimately prevails.

“We believe this is the final ingredient to complete our merger as we enhance value for all CBOT shareholders while providing a valuable guarantee for the exercise-rights holders,” Mr. Donohue said. “Many CBOT members view the CBOE-ICE proposal as ineffective and inadequate.”

The Merc deal also extends to five years, from two years, a governance arrangement that would ensure CBOT members continue to get trading-fee discounts. Intercontinental’s deal includes a six-year guarantee that some members view as inferior because the final three years provide a minimum discount that’s far less valuable than the discount available today. Without member-fee discounts, CBOT memberships, which trade for more than $600,000 each, would be worth far less, traders say.

CBOT Chairman Charles Carey, who would be vice-chairman at a combined Merc-CBOT but wouldn’t have a guaranteed place on an ICE-CBOT board, reiterated Thursday CBOT’s view that integrating with Intercontinental could distract management from its core business of improving systems and developing new products for trading. The Merc deal “presents significantly less integration and execution risk than a combination with ICE,” he said.

CBOT shareholders must vote on the deal by July 9. On Wednesday, Intercontinental CEO Jeffrey Sprecher began a proxy fight, urging CBOT investors to reject the Merc’s proposal.

“Given the fact that most people believe the CME is by far the better long-term investment, and since they satisfied the two major concerns they had about the CME or the ICE or any other potential acquirer, I believe the vote will carry on July 9,” said Nickolas Neubauer, a former CBOT chairman.

Whatever their view on the Merc proposal, CBOT members can agree on one fact: CBOT shares have risen more than 50% since the Merc inked its original agreement to buy CBOT in October.

“The only good thing is that it seems no matter what happens, the shareholders of the Board of Trade are benefiting,” Mr. Dorf said.

http://www.chicagobusiness.com/cgi-bin/news.pl?id=25341

[VivaLFuego]

Looks like the Jewel at the SW corner of Des Plaines and Kinzie is in site prep...the changes in the area (truck staging fields, parking, and urban desert ---> highrise residential neighborhood) are exciting to watch unfold.

[Mr Downtown]

Originally Posted by nomarandlee

can someone tell me how many acres are on a standard city block?

A standard Chicago city block contains private property measuring 594 x 264 feet. That's 156,816 square feet, or 3.6 acres.

I am trying to think how many acres the post office site in River North will be if/when it becomes a park.

River North blocks are the city's smallest. The private property measures 320 x 218 feet. That's 69,760 square feet, or 1.6 acres.

For comparison, Washington Square is 316 feet on a side, or 2.3 acres.

[SamInTheLoop]

^ That's great news! It's about time. The supermarket will only help accelerate development of the K Station area...

[SamInTheLoop]

Surprised nobody brought this up yet......

Chicago is neither London nor New York. Two things need to happen BEFORE downtown Chicago would be ready for any type of congestion tax, and both will take many, many years.

1) Much, much More densification in Loop, all near-Loop neighbohoods (particularly more residential development).
, and much, much more dense transit-oriented development throughout the city.

2) Massive public transit improvements (the CTA is not remotely equipped to handle the type of increase in ridership that would be the intential result of such a tax, and simple logic dictates that these huge improvements in capacity and network need to take place BEFORE such a tax takes effect - and not afterward (funded by the tax itself)

Until both happen, imo a congestion tax will do more harm economically than good. Downtown Chicago competes for jobs and economic development with its suburbs much more intensely than London and NY. Such a tax would put downtown at a further disadvantage cost-wise....

It's not the principle of the tax I disagree with, its the practicality (or lack thereof) for downtown Chicago. Chicago might be ready for such a measure in 15 or 20 years, after the above 2 pre-requisites have occurred. In the meantime, I'll continue to do my part to alleviate traffic congestion by walking as my primary means of transportation and using the CTA as a secondary...

[Marcu]

Originally Posted by SamInTheLoop

2) Massive public transit improvements (the CTA is not remotely equipped to handle the type of increase in ridership that would be the intential result of such a tax, and simple logic dictates that these huge improvements in capacity and network need to take place BEFORE such a tax takes effect - and not afterward (funded by the tax itself)

Agreed. Also it seems an easier, less costly option would just be to tax parking to death. After all we don't actually want people traveling through the loop to stay on the roads longer by avoiding the loop and taking a longer detour. We're really going after the people that stay in the loop.

[Alliance]

Originally Posted by SamInTheLoop

Surprised nobody brought this up yet......

Chicago is neither London nor New York. Two things need to happen BEFORE downtown Chicago would be ready for any type of congestion tax, and both will take many, many years.

1) Much More densification in Loop and all near-Loop neighbohoods (particularly more residential development).

2) Massive public transit improvements (the CTA is not remotely equipped to handle the type of increase in ridership that would be the intential result of such a tax, and simple logic dictates that these huge improvements in capacity and network need to take place BEFORE such a tax takes effect - and not afterward (funded by the tax itself)

Until both happen, imo a congestion tax will do more harm economically than good. Downtown Chicago competes for jobs and economic development with its suburbs much more intensely than London and NY. Such a tax would put downtown at a further disadvantage cost-wise....

It's not the principle of the tax I disagree with, its the practicality (or lack thereof) for downtown Chicago. Chicago might be ready for such a measure in 15 or 20 years, after the above 2 pre-requisites have occurred. In the meantime, I'll continue to do my part to alleviate traffic congestion by walking as my primary means of transportation and using the CTA as a secondary...

I totally agree. We should by trying to increase the density of businesses and residents downtown as much as we can. This city certainly needs to be over 3 million by the next census imo.

[BorisMolotov]

^ Why, what would that get us? Some bragging rights? Just let it grow how it grows.

[spyguy]

http://www.chicagotribune.com/classi...realestate-hed

Wonder Bread site to host new residences

By Jeanette Almada
Special to the Tribune
Published June 17, 2007

A residential development planned for the former Hostess Wonder Bread site on West Diversey Parkway signals the transformation of another manufacturing district, this one in Lincoln Park, into a residential neighborhood.

The Chicago Plan Commission on May 17 approved new zoning for 1301 W. Diversey Pkwy., where Interstate Bakeries Corp., manufacturer of Hostess Twinkies and Wonder Bread, operated a depot and thrift store.

Through an entity called 1301 West Diversey LLC, local developer Next Realty Midwest will build a 25-unit residential project on the 1.31-acre site. Following Interstate Bakeries' 2005 bankruptcy filing, the baker sold the building to 1301 West Diversey for about $7 million, according to reports on court records.

Because Plan Commission approval came under then-Ald. Ted Matlak (32) and City Council approval will be sought under newly elected Ald. Scott Waguespack, the development team has been silent about the project.

The developer has owned the property since October 2005, according to the rezoning application. It won approval to build up to 12 townhouses and 13 single-family houses. The three-story townhouses will be on the north end of the site; six will face Diversey and six will face Lakewood Avenue.

But 1301 West Diversey LLC will act more as a master developer regarding the single-family homes on the south end of the site. It is selling lots to other developers or buyers who will have houses built.

Jameson Realty Group is handling those sales. "We have already sold seven. They are selling for around the middle $700,000," Charles Huzenis, Jameson's president, said June 8.

Builders will be subject to the development agreement with the city, according to the Department of Planning and Development project manager who spoke to plan commissioners in May.

The developer has had two meetings with area residents and has altered plans to build condominiums because of community concerns.

In his last meeting as a plan commissioner, then-Ald. Burton Natarus (42) warned commissioners about revenue losses that the city will incur as manufacturing districts are re-invented as residential neighborhoods. "In this evolutionary change from manufacturing to residential use, we should look at density ... and should not be afraid of density," Natarus said. "Residential taxes are at 17.5 percent where manufacturer taxes were at 30 to 40 percent. So that is something we need to start studying," Natarus said.

The closing of Peerless Confection Co., across Lakewood Avenue from the development site, is likely to contribute to the area's new residential ambience.

Not only do residents speculate that condos will go up on the Peerless site, but railroad tracks that once brought deliveries to Hostess Wonder and Peerless will no longer be used, an attorney for the developer told plan commissioners.

Chicago-based Pappageorge Haymes LTD is designing the project.

[spyguy]

http://www.chicagotribune.com/classi...realestate-hed

Plan sought for Logan Square landmark site

By Jeanette Almada
Special to the Tribune
Published June 17, 2007

City officials are looking for a commercial or mixed-use developer to redevelop a landmark commercial site in Logan Square.

The site consists of two buildings with a combined 9,000 square feet of space: the six-story Morris B. Sachs Building at 2800-02 W. Milwaukee Ave., a city landmark with a Payless Shoe Store operating via a long-term lease on the ground floor and upper floors that have been vacant 20 years; and a two-story mixed-use building at 2812 N. Milwaukee Ave., which is also known as 3416 W. Diversey Ave.

Logan Square residents and leaders anticipate that finding a new use for the Sachs building could draw investment to the commercial district around the intersection of Diversey, Kimball and Milwaukee Avenues, a city Landmark District with six landmark buildings.

The Chicago Department of Planning and Development, which issued a request for development proposals May 29, will consider rezoning the properties for residential use but will not consider demolition of the Sachs building.

Both properties are owned by Milkimsey LLC, a developer that previously worked with city planners to find a new use for the Sachs Building and sought to buy in the area. But the death of Milkimsey principal Gary Poter of Poter Construction changed those plans; Milkimsey is now selling.

Though developers have expressed interest in buying the buildings, the city is working to acquire them to assure that redevelopment conforms with landmark standards.

The city's acquisition of the two buildings should be completed this year, a Chicago Department of Planning and Development project manager told the Community Development Commission May 8.

[the urban politician]

Originally Posted by spyguy

[url]"In this evolutionary change from manufacturing to residential use, we should look at density ... and should not be afraid of density," Natarus said. "Residential taxes are at 17.5 percent where manufacturer taxes were at 30 to 40 percent. So that is something we need to start studying," Natarus said.

^ Right on. I'm sure Natarus was voted out for a good reason, but can somebody remind me why?

[honte]

Originally Posted by the urban politician

^ Right on. I'm sure Natarus was voted out for a good reason, but can somebody remind me why?

I hope your question wasn't rhetorical.

A lot of people on this board will tell you that it was all the NIMBYs and all of the newcomers, but those were always there, and Natarus worked right along with them on many issues such as the stupid parking lot in the Gold Coast on LSD.

My opinion is that people lost confidence in his ability to run the ward. I sure did. He was a total flake. Contradicted himself in the same speech, sometimes in the same few sentences. Said whatever came to mind, blurted things out at random in meetings, had very little respect for other people in government. At a few meetings I went to, I could see city officials shaking their heads in amazement as he carried on, only to kiss his butt once he finished.

[BVictor1]

Originally Posted by honte

I hope your question wasn't rhetorical.

A lot of people on this board will tell you that it was all the NIMBYs and all of the newcomers, but those were always there, and Natarus worked right along with them on many issues such as the stupid parking lot in the Gold Coast on LSD.

My opinion is that people lost confidence in his ability to run the ward. I sure did. He was a total flake. Contradicted himself in the same speech, sometimes in the same few sentences. Said whatever came to mind, blurted things out at random in meetings, had very little respect for other people in government. At a few meetings I went to, I could see city officials shaking their heads in amazement as he carried on, only to kiss his butt once he finished.

So then he was a politician then huh?!...

[honte]

^ Yeah, maybe one of the best.

[VivaLFuego]

Well, Natarus was also booted because his opponent ran a very expensive campaign bankrolled by the unions.

Maybe I misread that article, but were people talking about being "afraid of density" in regards to a 25-unit development? Ugh.

[SportsWorld]

Do people foresee into the future and see the skyline getting bigger South by One Museum Park?