188 West Randolph - Residential Conversion (On Hold)

[Northsider]

Whats the deal with this building? It has appeared to be abandoned for years. No street level retail (all boarded up) and the main entrance has all kinds of city violation notices on it. Why is this building vacant (if indeed that is the case)?! It's a gorgeous building, I'd hate to see it demolished.

http://www.emporis.com/en/wm/bu/?id=randolphtower-chicago-il-usa

[i_am_hydrogen]

The last I heard, it was being renovated and converted to condos. Perhaps that plan has stalled out due to a lack of financing. I'm not sure.

Here's an old thread on it that was archived:
http://www.skyscrapercity.com/showthread.php?t=214583

[spyguy]

Village Green was supposed to renovate it and turn it into apartments. It was actually a pretty good plan because IIRC there were ZERO parking spaces and a certain % of units were supposed to be "affordable."

[The Urban Politician]

I think the building has been landmarked so the threat of demolition is highly unlikely

[asauterChicago]

Funny thing is when I was a sales person years ago (and when sales people could literally walk into any building downtown and cold call door-to-door) I remember going through there. It's was actually a really cool building and there were a couple cool "industrial loft" type offices in there. My building was right behind it, a couple of years ago they started tearing down an early century mid-rise next door, another cool street level building. So I e-mailed the Chicago historical society to see what's up and they indicated that 188 W Randolph was being renovated for luxury condos. The building next door was being torn down to make room for a parking garage.

They said it was a compromise, the original buyer of the building wanted to tear 188 down and build new. So, I guess it's better the project is stalled rather than have another historical building torn down to make another parking lot (I'm looking at you, owners of the old Mercantile exchange).

[Northsider]

Thanks for the info everyone.

[Chicagophotoshop]

I walk past this building everyday (twice) and its embarrassing. I really wish something would happen with it

[Northsider]

I walk past this building everyday (twice) and its embarrassing. I really wish something would happen with it

It really is embarrassing, at least at the street level.

[Chicagophotoshop]

It really is embarrassing, at least at the street level.

even at the top...with all the scaffolding, thats been there for YEARS. :ohno:

[ChicagoismynewBlog]

Village Green did an amazing job at their rental property at Lake and Wabash. I have a couple friends who live there and I am in love with that building. I could only hope Village Green does the same to this building...it's too good to go to waste.

http://chicagoismynewblog.wordpress.com

[i_am_hydrogen]

even at the top...with all the scaffolding, thats been there for YEARS. :ohno:

There are some other places where scaffolding has been up for an absurdly long time. It's a vexatious issue because not only is scaffolding an eyesore, but it creates a disconnect between the pedestrian and the street-level environment. If I recall, city law requires that protective scaffolding be erected if a building poses a danger to passersby below. Unfortunately, the law does not provide a deadline for when it must be removed. This allows building owners/managers who are either unable or unwilling to make repairs to keep scaffolding up almost indefinitely.

[jpIllInoIs]

Yah its an eyesore for sure.. and the lots next to it wit da demo'd buidings too. As I recall this fiasco started back in about 89-90? when da city drew a TIF district that excluded 188 Randolph. A developer was in the process of planning a rehab and then, natcherly wanted to be included in the TIF. Da city refused and da developer put the building on the back burner. Then the city hacks er,, I mean inspectors came in and found all kinds of problems. Meanwhile the buildings next door over by der ;] were owned by a well connected fellow who made lots of doughnations to the right folks, he had no trouble leasing up those rathole offices to all sorts of city culterull organizations, and when he decided to sell, he got bought out by da city at a handsome profit. Meanwhile over der at 188 the lack of matnence begins to show as some of the terra cotta begins to fall and da city orders a protective scaffolding be putup, at the owners ex$$pense of course. So da poor schmuck goes banckrupt and thats when the Village Green comes in. Why they cant make progress is anybodies guess. I wonder if they know how da city works?

[Northsider]

^^ Seriously, do you speak that way? It's annoying to read that block of horrible English (dis, dat, wit, nactherly?!)

[jpIllInoIs]

You ever read any royko? my apparently lame attempt at slats grobnick.

[Chicagophotoshop]

sorry not a good pic, just randomly walked by from over a block away...

http://i156.photobucket.com/albums/t30/jlew24asu/DSC_0074-2.jpg

[wrabbit]

My barber (who is also a practicing attorney LOL) has his shop right across the street from 188. He claims, though I can't verify, that the terra cotta tiles are in very bad shape, must all be inventoried, and many must be replaced.

But clearly the project has stalled.

[paytonc]

Meanwhile over der at 188 the lack of matnence begins to show as some of the terra cotta begins to fall and da city orders a protective scaffolding be putup, at the owners ex$$pense of course.

Yeah, a few pieces fell off a few years ago. The owners at that time proposed to demolish the tower part (I suppose it's everything above 16) but that got vetoed -- and thank goodness, since doing so would've wiped out the old Steuben Athletic Club (the reason for the building) and its 27th-floor indoor pool.

Oh, and put me down as not liking Chicago accents. Not quite as awful as LI/Staten/Jersey, but still.

[Chicagoago]

That building has been annoying since I moved here in 2001. I hate walking by that every day at my old job, all dark right there by the L.

Now I hate that my office looks right out at the ugly top of that building, with a sliver of it restored and bright white, and then that ugly green wrap around half the tower.

[spyguy]

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=34671

Developer seeks TIF district for Loop apartment project
By Alby Gallun, July 08, 2009

A Michigan developer is resurrecting a plan to convert a 45-story vintage Loop office building into apartments after the credit crisis doomed financing for the project late last year.

Village Green Cos. aims to rely on a mix of public funding sources to pay for the $141-million development at 188 W. Randolph St., the kind of risky project that private lenders won’t touch anymore. An earlier financing package fell apart last year after commercial banks refused to back municipal bonds that would have helped pay for the conversion.

...If all goes according to plan, Village Green would begin construction in early 2010 and finish the project in 2012, he says.

[Northsider]

2012? 3 more years of this unsightly building? At least there are plans in the works.

[Chicagophotoshop]

2012? 3 more years of this unsightly building? At least there are plans in the works.

yea, I wouldnt complain to much. at least we have something. we could be faced with this POS indefinitely.

[i_am_hydrogen]

I support the use of TIF funds for this project because (1) it will create residential units downtown, helping the Loop trend ever closer to being a true neighborhood, and (2) the building has historical value and will look beautiful when fully restored.

[spyguy]

http://www.suntimes.com/business/roeder/1987269,CST-NWS-roeder13.article

Tower seeks public financing
20% of landmark would be set aside as lower-rent units

January 13, 2010
DAVID ROEDER

Partially masked by nets and scaffolding for months, the Jazz Age skyscraper at 188 W. Randolph looks like a wounded veteran of the real estate crash. To restart its renovation, the owners are in hot pursuit of public financing.

...The office building would be converted to 310 apartments, Barnes said. Village Green will occupy lower-floor commercial space, turning it into its Chicago regional office.

[simulcra]

Mmm... TIF, the private-public cure-all.

[spyguy]

http://interactive.chicagobusiness.com/closer/constructionpipeline/private/

2010/01/27 Randolph Tower City Apartments 45-story, 313-unit apartment tower conversion, $141 million 188 W Randolph St, Chicago, IL 60601-3109, US Cook Est. Start Date: June 2010

[i_am_hydrogen]

^Groovy. This building has become an eyesore and will look wondrous after its make-over.

[jpIllInoIs]

Isn't there an empty lot on the east side of this building? A couple of nondescript 4 storey loft buildings were demolished that were being subleased to the state at some crazy high rent paid to a political operative. What is planned for that site? I guess it would be like 176 or 180 West Randolph.

[Northsider]

^^ Parking lot? :-p



kidding, just kidding! (god I hope not!)

[Flubnut]

I walked by there this morning to take a look. There's about 100 feet of frontage between this building and the State of IL building. It's all been cleared, and there's newish-looking green fencing to save people from falling into the pit. You could easily build 7 stories up, using the full width of the property, before you reach the side windows on 188WR. I did not see any posted signs of "things to come."

[The Urban Politician]

If I recall, the agreement with the city was that the developer had X number of years to develop those parcels before having to turn the land back over to the city, or something to that effect.

Of course, I'm sure the developer had no idea that the worst economic depression in recent history was just around the corner. Thank God they at least landmarked 188 W Randolph...

[CMillar]

Does no one miss the gigantic metal hamburger that used to hang in front of the Burger King in one of those demolished buildings?

Yeah, me neither.

[jpIllInoIs]

^ No that Burger King is on Washington Street not Randolph. Actually it is across the street from 215 W. Washington I think.

[CMillar]

^ No that Burger King is on Washington Street not Randolph. Actually it is across the street from 215 W. Washington I think.

I'm 99% certain you're wrong.

[jpIllInoIs]

I'm 99% certain you're wrong.

I recollect that there was a McDonald's on Randolph and the BK with the metal sculpture sign was on Washington. I'll stand by that.

[asauterChicago]

Isn't there an empty lot on the east side of this building? A couple of nondescript 4 storey loft buildings were demolished that were being subleased to the state at some crazy high rent paid to a political operative. What is planned for that site? I guess it would be like 176 or 180 West Randolph.

The empty lot was supposed to be for the parking garage in the original plan for 188.

[Mr Downtown]

The Burger King was 170 W. Washington, now Ruby of Siam.

The lot between 188 and the old State of Illinois building was a four-story loft building that was used for some city offices for a while before it was sold to the developer of the 188 project. Actually, looking at old fire insurance maps, it might have been three different buildings that were wrapped up with that decorative metal façade.

[24gotham]

I will back up that there was a McDonalds on Randolph.... Closed in late 90s.

[spyguy]

http://www.suntimes.com/business/roeder/2093169,landmark-randolph-building-redevelopment-030910.article

Commission OK's redevelopment plans for landmark building
BY DAVID ROEDER

A city agency Tuesday approved redevelopment plans for a landmark building at 188 W. Randolph.

...Village Green also plans a restaurant and retail space in the building, as well as a fitness center and spa.
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http://img218.imageshack.us/img218/4035/randolphtower.jpg

[spyguy]

http://egov.cityofchicago.org/city/webportal/portalContentItemAction.do?BV_SessionID=@@@@1765775671.1268346771@@@@&BV_EngineID=ccceadejlgdjfmfcefecelldffhdfgm.0&contentOID=537073376&contenTypeName=COC_EDITORIAL&topChannelName=Dept&blockName=Community+Development%2FI+Want+To&context=dept&channelId=0&programId=0&entityName=Community+Development&deptMainCategoryOID=

Community Development Commission approves renovation plans for historic loop building and supportive home for teenage mothers

Randolph Tower City Apartments

The CDC today approved a plan to redevelop the vacant and historic Randolph Tower in the Loop at 188 W. Randolph into 310 apartments, retail and commercial space.

The action recommends the designation of Village Green Companies as the developer for the proposed $145 million renovation.

Plans call for the mixed-use building, formerly known as the Steuben Club Building, to be converted into 168 studios, 98 one-bedroom and 44 two-bedroom units. Sixty-two of the residential units will be made affordable to households at or below 50 percent of area median income.

Village Green bought the 45-story office building out of bankruptcy in 2005 and will convert the 80 year-old structure into apartments. Plans also include 9,500 square feet of ground floor restaurant and retail space. Village Green will occupy 11,400 square feet on the second floor and turn it into its Chicago regional office.

Amenities will include a fitness center, swimming pool and spa. A social club will be located on the 38th and 39th floors, offering 360° views of the City’s skyline and Lake Michigan.

The Gothic-style building will have extensive work done to preserve its historic terra cotta façade and other ornamental details and a gut rehabilitation of the interior.

The renovation will create a bustling mixed-use building that will attract residents and customers, be a major generator of tax revenues and preserve the historic character of the area.

The CDC also approved a redevelopment plan for the proposed Randolph/Wells TIF district. Creation of the TIF district will support the renovation of Randolph Tower and help redevelop other underutilized and vacant office buildings in the redevelopment area.

The developer has requested $34 million in TIF assistance for the renovation.
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I was looking through old TIF documents and saw that the lowrise building next door (180 W) would have been transformed into new office space with retail on the ground floor and a small theater on the second floor, apparently for Shear Madness. Obviously that's all gone now, but the theater idea still sounds cool.