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Old October 4th, 2005, 06:11 AM   #301
BVictor1
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The building with the greenroof just north of Astoria Tower is a totally seperate structure with a totally different developer. I think that it's called One East 8th or something of that nature.

Here's a small piece of an article from the September edition of The Gazette

One Place Condominiums
One Place Condominiums will be a ten-story mid-rise at the corner of 8th and State Streets. Deeded parking will be available for each residential unit along with a public parking garage that will not be visible from State Street. There will be no investment garage space ownership (individuals will not be allowed to buy extra parking spots as an investment), said sales director Judy Walton.
Residential units will be situated on floors three through ten. The other floors will feature retail and commercial space and a 40,000 square foot, 24-hour Xport Fitness club with a three-story climbing wall, among other features.
Groundbreaking is scheduled for this winter, with occupancy anticipated in June or July 2007.
One- and two-bedroom units range from $159,000 to $299,000, with size ranging to slightly more than 1,000 square feet. One-bedroom-plus den penthouse terrace units start at $300,000, and two-bedroom, two-bath penthouse terrace units begin at $334,000. Balconies also are featured, and building amenities besides the health club include a recreation room, bike storage, and storage lockers.
Within the first five weeks of sales, the building was 85% sold. It is a development of One Place Condominiums, LLC, with Caccia-toreHarper as exclusive broker. The architect is FitzGerald Associates Architects.

Last edited by BVictor1; October 4th, 2005 at 07:37 AM.
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Old October 5th, 2005, 12:21 AM   #302
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From Lynn Becker

Kroc Corps Community Center Competition down to Four Finalists
With little fanfare, last month the competition to design the Salvation Army's new $60-$70 million Ray and Joan Kroc Corps Community Center at 47th and State Street in Chicago was narrowed down to four finalists: Chicago firms Murphy/Jahn, and Ross Barney + Jankowski, as well as Antoine Predock and Behnisch Architects. The four will submit their proposals to the jury beginning on October 24, with the announcement of winner scheduled for October 27th. You can download PDF's of the profile and team descriptions submitted by each finalist from the competition website.

http://www.chicagorjkccc.com/index.php?page=results

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Kind of sad that this is getting so little attention, but with $60-70 million it could easily be a beauty.
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Old October 5th, 2005, 07:06 PM   #303
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That was dumb!

- edit
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Old October 5th, 2005, 10:35 PM   #304
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^ That's such an obvious crock of bull. How costly is it really for them to keep that building and see if they can sell it to a developer? Have they even tried to do that???
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Old October 5th, 2005, 11:43 PM   #305
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Archon JV Buys 50 Acres for 420,000-SF Power Center
By Dana Dubriwny

CHICAGO-Archon Group LP, a subsidiary of the Goldman Sachs Group Inc., in conjunction with Monroe Investment Partners LLC, a local private partnership, acquired a 50-acre site on Chicago’s South Side for the joint venture development of a new 420,000-sf retail power center to be called Chatham Market.


The project, which will be built on the Ryerson steel plant site at 83rd Street and Stewart Avenue near the Dan Ryan Expressway, is moving forward immediately, says Curt Bailey, director of retail investments at the Chicago regional office of Archon. The development is expected to cost nearly $120 million, but is expected to receive more than $30 million in tax increment financing dollars.


Thus far, Archon has signed home improvement retailer Lowe’s to anchor the center, which will utilize 130,000 sf. The project is designed to accommodate two big-box anchors and by a mix of other category-leading retailers ranging from 15,000 sf to 45,000 sf, plus specialty shops.


Bailey says that while center will bring a much-needed economic boost to the area, the South Side region offers a dense and mature consumer base. According to his figures, the median income for the area is $50,000. “I think there is a dearth of 50-acre retail sites available in the City of Chicago, especially with an established retail node and outstanding density,” Bailey tells GlobeSt.com. “The fact is that this area is under retailed.”


Archon is also heading up Poplar Creek Crossing, a 400,000-sf retail center anchored by a 124,000-sf Target under construction in suburban Hoffman Estates. It also was a joint venture partner in the redevelopment of the 550,000-sf Brickyard Mall on Chicago’s Northwest Side, which re-opened in 2004.

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Old October 6th, 2005, 05:16 AM   #306
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Quote:
Originally Posted by spyguy999
Archon JV Buys 50 Acres for 420,000-SF Power Center
By Dana Dubriwny

CHICAGO-Archon Group LP, a subsidiary of the Goldman Sachs Group Inc., in conjunction with Monroe Investment Partners LLC, a local private partnership, acquired a 50-acre site on Chicago’s South Side for the joint venture development of a new 420,000-sf retail power center to be called Chatham Market....
^How the hell does this article belong in the "other downtown stuff" thread? Lets please pay attention to where we're posting stuff!

Anyway, for those who are interested here's a link to the site plan for this wonderfully suburban shopping center:

http://www.tartanrealtygroup.com/83rd/83rd_siteplan.pdf
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Old October 6th, 2005, 08:31 AM   #307
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Quote:
Originally Posted by ChicagoLover
^ That's such an obvious crock of bull. How costly is it really for them to keep that building and see if they can sell it to a developer? Have they even tried to do that???


I agree totally. That is a great Chicago building that should be preserved at all cost. If just rehabbed a bit it could be stunning. Even in the condition its in it is still an important and quality building.
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Old October 6th, 2005, 04:56 PM   #308
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Stroger, perhaps IMO, is the most stupidest politician Cook County ever had. He consistently is out of touch with his CC constituents. He usually thinks increase in property taxes is the only viable solution to the county budget problems.
-----------------------------------
Anyway, interesting tidbit from Ann Gerber's column in 10/06 Skyline newspaper with her exact words: "WE HEAR THAT RITZ CARLTON RESIDENCES, 35 floors, will rise at the Terra Museum site on Boul Mich with concierge, all the coveted perks of the Ritz for lucky tenants. Prism Development is the builder with marketing by Rubloff."
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Old October 6th, 2005, 05:14 PM   #309
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Quote:
Originally Posted by spyguy999
Archon JV Buys 50 Acres for 420,000-SF Power Center
Gadgets AND shoes! Aw, I'm in heaven now.
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Old October 7th, 2005, 12:26 AM   #310
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By the way, did any of you go to this? It was TODAY and it would be awesome to get some info about the plans:

The next Friends of Downtown Brown Bag presentation
Thursday, October 6 at 12.15
Chicago Cultural Center

Metra Market

Cassandra Jansen Francis, Vice President at U. S. Equities, and Michael J. Sullivan from OWP/P Architects will present the lively new MetraMarket which will transform nearly two full city blocks of underutilized, street level space at Ogilvie Transportation Center (OTC). The lively new MetraMarket will have a double focus: The train station’s suburban concourse will cater to commuters, while a renovated Randolph Street area will link Chicago's revived theater district to the east and the growing restaurant district to the west. The 200,000 square foot development will feature 90,000 square feet of retail including a specialty food market, 36,000 square feet of restaurants and parking for 100 cars.
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Old October 7th, 2005, 04:35 AM   #311
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Quote:
Originally Posted by The Urban Politician
By the way, did any of you go to this? It was TODAY and it would be awesome to get some info about the plans:

The next Friends of Downtown Brown Bag presentation
Thursday, October 6 at 12.15
Chicago Cultural Center

Metra Market

Cassandra Jansen Francis, Vice President at U. S. Equities, and Michael J. Sullivan from OWP/P Architects will present the lively new MetraMarket which will transform nearly two full city blocks of underutilized, street level space at Ogilvie Transportation Center (OTC). The lively new MetraMarket will have a double focus: The train station’s suburban concourse will cater to commuters, while a renovated Randolph Street area will link Chicago's revived theater district to the east and the growing restaurant district to the west. The 200,000 square foot development will feature 90,000 square feet of retail including a specialty food market, 36,000 square feet of restaurants and parking for 100 cars.
Whadda think TUP, is this going to happen? It's a terrific concept.
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Old October 7th, 2005, 04:41 AM   #312
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10/5/2005 10:00:00 PM

Rezmar sells Riverside Park to foreign conglomerate

By HAYDN BUSH, Staff Writer


South Loop
The Rezmar development team that created the sweeping, 63-acre Riverside Park development plan for Clark and Roosevelt has reportedly sold their interest in the project to the British-based General Mediterranean Holding SA, according to a Sun-Times report this week. Rezmar officials did not return a call for comment this week, but the sale was reported at $131.5 million, according to the article.

In March, Rezmar released a revised plan for Riverside Park, shorn of big-box development, that emphasized smaller, unique retailers and included a 12-story, Art Deco-influenced mixed-use building as its centerpiece. All told, the project has been proposed to add more than 4,000 residential units over several phases of construction. In March, Rezmar officials said they hoped to complete the first phase of development by 2007.

However, the project—which would revitalize a long-fallow bit of riverfront property created when the Chicago River was straightened in the 1930s—was dependent on massive public subsidies. Rezmar officials requested roughly $140 million in tax increment financing funding from the city earlier this year, which would have paid for basic infrastructure like roads and sewers. But the project was thrown into doubt after Rezmar founder Antoin Rezko was accused in April of using a minority front company to gain a slice of a lucrative O’Hare-based Panda Express outlet—and subsequently withdrew his interest in the restaurant. In August, Connie Buscemi, a spokesperson for the Department of Planning
and Development, said that Rezko’s troubles with the city could influence whether or not Riverside Park received TIF funding.

The Sun-Times report states that Rezko and project manager Michael Rumman would create a new management company to help shepherd the construction of Riverside Park for General Mediterranean Holding SA.

Leslie Sturino, president of South Loop Neighbors, said this week that she hopes Riverside Park is ultimately constructed. The project had received nearly universal approval from community groups, and included an extension of Chicago Transit Authority bus routes, a new riverfront park, and the possibility of a massive retail presence near Roosevelt Road.

"There was so much time, work and money invested on the part of the development team and all the agencies," Sturino said. "The plans were excellent. It’s a shame that it won’t move forward right away. We hope that it will move forward under somebody else’s vision."
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Old October 7th, 2005, 05:42 AM   #313
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Quote:
Originally Posted by Frumie
Whadda think TUP, is this going to happen? It's a terrific concept.
^Hell if I know.

That's why somebody needs to join Friends of Downtown and start going to these Brown Bag Luncheons
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Old October 7th, 2005, 05:48 PM   #314
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brown bag luncheon eh, is that were you b.y.o.b as in bring your own bag (with lunch)?
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Old October 8th, 2005, 02:11 PM   #315
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Condos planned at Terra
Firm has option to buy former museum site

By Thomas A. Corfman
Tribune staff reporter
Published October 8, 2005

A low-profile Chicago real estate firm has an option to buy the shuttered Terra Museum of American Art on Michigan Avenue, with plans to build a luxury condominium building branded with the Ritz-Carlton name.

Prism Development Co. is part of a venture proposing a roughly 35-story tower that would be located behind the landmark Art Deco structure at the corner of Michigan Avenue and Erie Street, preserving the facade, according to sources familiar with the plans. Chicago-based Lucien Lagrange Architects Ltd. is designing the project, sources said.

Although not a hotel, the building would offer hotel-style amenities, such as room service, and be managed by Ritz-Carlton Hotel Co., sources said. In recent years, the company has extended its brand with a condo concept called Residences at the Ritz-Carlton.

Donald Ratner, executive vice president with the Terra Foundation for the Arts, confirmed that Prism had acquired a one-year option to buy the property. He declined to comment about the developer's plans, but said the transaction was part of a foundation plan to maximize the return on its assets.

Bruce Schultz, a veteran real estate executive and principal in Prism, could not be reached for comment.

The posh project, with fewer than 100 units, enters an increasingly crowded field at the very top end of the residential market, where prices start at $500 a square foot.

"Sales velocities in general are weakest at the upper end of the market," according to a market report issued in July by Appraisal Research Counselors, a Chicago consulting firm.

The most recent competitor is the Santiago Calatrava-designed, 115-story tower proposed at Lake Shore Drive and the Chicago River, which has quietly begun sales. But the leader, according to most market observers, is the Trump International Hotel & Tower Chicago, already under construction at 401 N. Wabash Ave.

Earlier this week, looking to add some sizzle to another riverfront condo project, the development arm of Chicago architectural firm Teng & Associates said it had reached an agreement with a Hong Kong company for the hotel portion of Teng's proposed tower at 111 W. Wacker Drive.

It's the first U.S. deal for Shangri-La Hotels and Resorts.

But Prism venture is banking on the Ritz brand. A unit of lodging giant Marriott International Inc. of Bethesda, Md., Ritz-Carlton Hotel manages a worldwide portfolio of 59 hotels, with nearly 19,000 rooms.

The company has nine Residence locations. Most are part of hotels or resort complexes, but a few are stand-alone projects.

Construction of the Chicago project would depend on condo sales. Chicago-based Rubloff Residential Properties is already selectively marketing the development, sources said.

The development would displace three tenants, including Hanig's Footwear Inc., which has operated an upscale store in the historic Farwell Building, 660 N. Michigan Ave., since 1977. The others are Starbucks and Garrett Popcorn Shop.

The Terra museum was closed last year, and key parts of its collection were moved to the Art Institute of Chicago, after a lengthy Terra board battle.

The foundation put the site up for sale last year, seeking either an outright sale for more than $65 million or a long-term ground lease that would pay about $3.5 million annually.

As part of a complicated transaction the foundation will retain ownership of about 20,000 square feet of retail space in the new building on three levels, Ratner said. It also will have offices in the building.

----------

[email protected]
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Old October 8th, 2005, 06:40 PM   #316
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.......yay...........more condo conversions....
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Old October 9th, 2005, 07:06 AM   #317
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This is probably old, but on SSP and they have some big names.

Proposals for a $45 million, 3.5 million volume capacity library addition for UofC :

SOM
Libeskind
Ross Barney Jankowski, Chicago
Murphy/Jahn
Polshek
Vinoly

Groundbreaking for June 07.
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Old October 9th, 2005, 06:55 PM   #318
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Quote:
Originally Posted by spyguy999
This is probably old, but on SSP and they have some big names.

Proposals for a $45 million, 3.5 million volume capacity library addition for UofC :

SOM
Libeskind
Ross Barney Jankowski, Chicago
Murphy/Jahn
Polshek
Vinoly

Groundbreaking for June 07.
You could move this over to your cultural compilation thread.
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Old October 10th, 2005, 05:51 PM   #319
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Well, looks like the old Spertus Institute won't go to waste. How about a makeover as well?

Columbia aims to buy Spertus building
Spertus to relocate
By Hayley Graham
Campus News
School officials announced last week that the board of trustees has approved a plan to purchase the building that houses the Spertus Institute of Jewish Studies.

Columbia and Spertus are currently negotiating the details of the contract that will finalize Columbia’s purchase of Spertus’ current building at 618 S. Michigan Ave., located beside Columbia’s South Campus Building, 624 S. Michigan Ave.

Over the next 10 years, Columbia is expected to grow 2 percent, Berg said at the College Council meeting Oct. 7.

The Spertus building will add 76,000 usable square feet to Columbia’s campus of 13 buildings throughout the South Loop. Alicia Berg, vice president of campus environment, expects Columbia to sign the contract “fairly soon.” Berg did not know exactly how long the negotiations will continue.

“This will help with the overall space crunch,” Berg said.

While Columbia is unsure of what departments will be housed in the Spertus building, Berg said one idea is to use some space as a temporary student center, which Columbia’s Student Government Association has been pushing for since last fall.

Once Columbia buys the building, planning of how to use its space will begin.

Columbia will be able to move into the 10-story building once Spertus has moved into its new location. Construction of Spertus’ new 155,000 square foot steel and glass structure, which will be located in the empty lot just north of the institution’s current location at 610 S. Michigan Ave., is expected to begin in November. Spertus officially broke ground its new location during a ceremony on Oct. 9.

“We needed more space and a building that could handle more sophisticated technology,” said Betsy Gomberg, director of institutional outreach at the Spertus Institute.

Spertus has more than a half a million pieces in its collections, including rare books, maps, music, film and records of the Chicago Jewish archives that need to be stored in humidity- and temperature-controlled areas.

“This building has served us beautifully; it just wasn’t really right for a cultural center,” Gomberg said.

Spertus’ goal is to be moved into the new building by summer 2007. Columbia will then begin the building’s interior renovation. Berg said she will not know how long the renovation will take until the plan for the building is completed.
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Old October 10th, 2005, 05:52 PM   #320
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