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Old March 30th, 2006, 01:43 AM   #741
ChicagoLover
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Have others heard that the owners of IBM Plaza are contemplating a conversion of that property to residential condos? (This was mentioned in a Grubb & Ellis report about the real estate market at the end of 2005.) Oh dear God, please no balconies on Mies' landmark.
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Old March 30th, 2006, 03:17 AM   #742
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Yes, I remember hearing about that. JHC was planning on going partially hotel I thought? Like a Hyatt or something....but I will have to hunt down whoever makes the decision to convert Wrigley into condos. That's a loss I will not take.
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Old March 30th, 2006, 06:47 AM   #743
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Quote:
Originally Posted by Steely Dan
that ******* sucks. i really like the clean and sleek modernist facade of mid-continental plaza as it exists now. balconies are going to seriously **** that all up.

too bad.
It is hard to tell from the picture but it looks like the balconies are flush with the facade. This would help keep that sleek look but would require some structural changes.

They have some displays set up in the lobby which also include some brochures. Stop on in and check it out...
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Old April 3rd, 2006, 06:06 AM   #744
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I was looking at buildings on emporis when i came across what is the current proposal for 500 N Lakeshore drive, where the 2000ft communications tower was suppose to be built. I'm real happy that its not by the way. The new plan calls for a 58 story building. I have no other info right now, but here is the link to it on emporis:

http://www.emporis.com/en/wm/bu/?id=229913
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Old April 3rd, 2006, 06:28 AM   #745
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Yeah, that's the Perkins + Will proposal from LR. Hopefully they'll start marketing it soon, as I'm sure it'll be a great looking building.
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Old April 4th, 2006, 06:59 AM   #746
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Wasn't sure where else to put this:

from home.businesswire.com

April 03, 2006 12:37 PM US Eastern Timezone
Canyon Johnson's Sale of Shops at State Place Marks Revitalization of Chicago's South Loop Area; Original Development Group Sells Retail Center and Public Garage to BlackRock Realty
CHICAGO--(BUSINESS WIRE)--April 3, 2006--Three years after beginning the redevelopment of Chicago's former police headquarters, Canyon Johnson Urban Funds (CJUF) and three of Chicago's most respected real estate firms -- Mesirow Financial Real Estate, Inc., Near North Properties, Inc., and Northern Realty Group, Ltd. -- have sold the Shops at State Place. This retail center and public garage is part of a large mixed-use development in Chicago's South Loop. New York investment manager BlackRock Realty purchased the property consisting of 61,796 square feet of retail and a 156-car garage.


The property is located on the entire block of South State Street between 11th and Roosevelt Road, the former address of the Central Police Station and Courts Building.

In 2003, Canyon Johnson/State Street Partners demolished the existing building and developed State Place, a 243-unit condominium building, with ground floor retail and an enclosed private parking garage. Today, State Place has sold all but eight housing units, and the retail space is 85 percent leased, with retailers including Walgreen's, Fitness Formula Health Club and Spa, Coldwell Banker Real Estate, Charter One Financial, H & R Block, Verizon Wireless, Hair Cuttery and Benchmark Medical.

"This sale demonstrates that State Place and the surrounding community are thriving," said Bobby Turner, Managing Partner of Canyon Johnson Urban Funds. "As investors in urban areas, we look for exactly this type of opportunity to turn a dilapidated building into a high-quality mixed-use development that transforms the neighborhood."

Canyon Johnson Urban Funds is a partnership between Canyon Capital Realty Advisors and Earvin "Magic" Johnson's Johnson Development Corporation. The Funds' investment strategy is to identify, enhance and capture value through the development, redevelopment, acquisition and repositioning of urban real estate. In addition to meeting its investment objectives, Canyon Johnson provides and fosters economic opportunities for the underserved residents of the urban neighborhoods in which it invests.

"The Shops at State Place will have a positive effect on this diverse community for many years to come. We're confident that this will stimulate more positive development in the area and enhance the community's overall value. That's what Canyon Johnson is all about," said Earvin "Magic" Johnson, CJUF Partner.

"We are very pleased that we were able to identify and acquire a property to create a vibrant retail center for the community," said Michael Tobin, managing principal, development for Northern Realty Group. "State Place is successful for not only the developers, but also the City of Chicago, the retailers and the neighborhood."

For seventy years the property was the site of Chicago's police headquarters. At the time of the demolition it held a run-down thirteen-story building.

"We were very concerned that State Place match the neighborhood in terms of architecture and historical feel," said Jim Loewenberg, President of Loewenberg Associates and Near North Properties. "We're proud to have created a street scene that is representative of the flavor of the community and highlights the exciting commercial and residential growth of the South Loop area."

Situated in one of Chicago's most historically significant neighborhoods and located near Grant Park, the museum campus, major expressways and mass transit, State Place occupies a setting unsurpassed in terms of location, access and neighborhood amenities.

"State Place was a very complex redevelopment project because it was designed to meet a multitude of community needs in the South Loop," said Mike Szkatulski, Senior Managing Director of Mesirow Financial Real Estate. "What today looks like a seamless mixed-use development has many important features including critical access to public transit, high residential density, significant ground floor retail and public parking."

Canyon Johnson and State Street Partners were represented in the transaction by CB Richard Ellis' Chicago Shopping Center Investment Team of George Good, Rich Frolik, Robert Mahoney and Bill Wright.

About Canyon-Johnson Urban Funds

The Canyon-Johnson Urban Funds (CJUF) are the country's largest private real estate funds focused on the development of urban properties in underserved neighborhoods. A joint venture between Canyon Capital Realty Advisors and Earvin "Magic" Johnson's Johnson Development Corporation, the funds were formed to identify, enhance and capture value through the development and redevelopment of real estate in densely populated, ethnically diverse urban communities. The Funds' objectives are to seek current income and capital appreciation and, in addition to meeting investment goals, the funds are committed to providing for and fostering economic opportunities for the residents of the urban neighborhoods in which CJUF invests. With nearly $1 billion in committed equity capital, the funds are positioned to facilitate more than $4 billion in development and revitalization in major U.S. metropolitan areas. To date, projects have been undertaken in Atlanta, Baltimore, Brooklyn, Chicago, Cleveland Heights, Las Vegas, Los Angeles, Miami, Milwaukee and San Diego.

About Mesirow Financial Real Estate, Inc.

Mesirow Financial Real Estate, Inc. provides broad real estate expertise based on over 30 years of success in the industry. The firm is known for successful high-quality public/private place-making at every scale, including major urban redevelopment projects and suburban mixed-use projects. In addition to State Place, other recent residential projects include: 58-acre University Village consisting of town homes, condominiums, lofts and single-family homes in Chicago; the six-acre Deerfield Village Centre; the redevelopment of the 1,200 acre Glenview Naval Air Station in Glenview and the former army base of Fort Sheridan on Chicago's North Shore.

Mesirow Financial Real Estate, Inc. is part of the Mesirow Financial family of companies that make up a diversified financial services firm headquartered in Chicago. Founded in 1937, the firm is independent and employee-owned with nearly $30 billion in assets under management, advisory and custody, and more than 1,000 employees in 29 offices across the country and in Puerto Rico. For more information about Mesirow Financial, visit our Web site at www.mesirowfinancial.com.

About NNP Residential

NNP Residential continually sets new standards for the urban residential experience. The Chicago-based company has won acclaim among residents, residential managers, investors and developers as one of the nation's most innovative residential real estate firms. NNP Residential has directed the most impressive apartment leasing and marketing projects in Chicago over the past decade.

Its wide range of management, start-up, and marketing services reflects the diverse expertise of the company's founder, veteran Chicago real estate executive James Loewenberg. NNP Residential excels across the board, constantly exceeding expectations.

In addition to State Place, projects include One Superior Place, Grand Plaza and The Park Millennium. The most recent project, Lakeshore East, is a $4 billion, 28-acre mixed-use community rising where the Chicago River meets Lake Michigan. The plan allows for up to 4,950 residences, a lush 6-acre public park, 2.2 million gross square feet of commercial space, 1,500 hotel rooms, 770,000 square feet of retail and a proposed elementary school.

About Northern Realty Group, Ltd.

Formed in 1987, Northern Realty Group specializes in the retail leasing of, and consulting on urban mixed-use properties. Since that time, the company has represented building ownership in leasing the retail component of numerous major mixed-use projects in the Chicago metropolitan area, including Citigroup Center/Metra station, 600 North Michigan Avenue, The Leo Burnett International Headquarters, Sears Tower, Park Hyatt, Chicago Title & Trust Center, AT&T Corporate Center/USG Building, the Renaissance Chicago Hotel, and the Park Evanston Tower.

In 1997, the company made the strategic decision to capitalize on the development expertise of its principals, and to add professional staff with multifamily property operations, and mixed-use development expertise. The result is an ongoing effort to acquire and reposition underutilized real estate of various property types where significant hidden value can be accessed. To date, this new business effort has generated more than $160,000,000 in completed work, with another $250,000,000 in various stages of development. Northern, and its investment partners, own apartment communities containing more than 1,000 rental units, 125,000 square feet of suburban office buildings and more than 100,000 square feet of urban retail.
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Old April 4th, 2006, 07:36 AM   #747
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Quote:
Originally Posted by CPD
"We were very concerned that State Place match the neighborhood in terms of architecture and historical feel," said Jim Loewenberg, President of Loewenberg Associates and Near North Properties. "We're proud to have created a street scene that is representative of the flavor of the community and highlights the exciting commercial and residential growth of the South Loop area."
Oh, puhll-eeeeeeze! Like Loewenberg really concerned about the architecture and historic feel???
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Old April 5th, 2006, 03:08 PM   #748
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http://www.suntimes.com/output/roede...-roeder05.html

From Roeder's blurb:

LIGHT HOUSE: Here's one building that should have a fancy lighted crown. Don't know if it'll get one, though. It's a new 45-story high-rise due to be considered April 20 by the Chicago Plan Commission. A partnership affiliated with General Electric Co. has proposed the condo and parking garage for 215 W. Washington.

GE wants to power into the market with 345 dwellings and 348 parking spaces apart from those the residents require. That's because the building replaced one of Chicago's earliest multilevel garages. A spokeswoman for the partnership said it is close to a deal with the city on rezoning terms.
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Old April 5th, 2006, 08:35 PM   #749
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Check it out...

The Park Monroe Condominiums

www.parkmonroe.com



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The Park Monroe is located on the building’s uppermost floors—42 through 50. This spectacular location brings you thrilling panoramic views of Lake Michigan, Millennium Park, Grant Park and the gleaming Chicago cityscape. The Park Monroe features a brand-new residential entrance and lobby, plus access to a fabulous rooftop amenity deck with pool, fitness center, club room, movie screening theater and more. All at prices that make it an unexpectedly great value! Register for our VIP List and be one of the first to learn more — VIPs receive first choice of homes and views, as well as exclusive invitations to our events.
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Old April 6th, 2006, 02:27 AM   #750
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Source


April 05, 2006
By Alby Gallun


Children's Memorial moving to Streeterville
(Crain's) - After lengthy search for a new home, Children's Memorial Hospital has decided to move to Streeterville from Lincoln Park, its home since 1882.

Aiming to build a larger, more modern facility, the hospital had considered relocating to a site within the Illinois Medical District on the city's West Side, one on North Elston Avenue and, more recently, the site of the current New City YMCA near Cabrini-Green.

But the hospital's board voted to move to Streeterville, President and CEO Patrick M. Magoon and Chairman Peter S. Willmott said in a letter the employees Wednesday.

"The Streeterville location offers us the best opportunity to realize our vision, which is to advance among the top tier hospitals that are transforming pediatric healthcare," they wrote.

Advertisement

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"It is clear that when one looks at the leading children's hospitals, they are located on the campus of a top tier medical school. This proximity allows us to leverage our critically important partnership with Northwestern University's Feinberg School of Medicine."
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Old April 7th, 2006, 05:42 PM   #751
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wasnt sure were to put this--

CBS site shows 2 towers, 807 units

April 7, 2006

BY DAVID ROEDER AND FRAN SPIELMAN Staff Reporters

The hangar-like headquarters of Chicago's CBS affiliate, WBBM-Channel 2, would be replaced by two residential towers under plans submitted to city zoning authorities.

Chicago-based developer Golub & Co. has turned in a proposal for buildings of almost 50 stories each at 630 N. McClurg Ct. in Streeterville. The buildings would rise from a shared base that would include offices and shops, said Lee Golub, the firm's executive vice president.

The residential part would consist of 807 rental apartments. Golub emphasized that the plans, developed with the architectural firm Solomon Cordwell Buenz, are tentative and haven't been shown to community groups.

The studio was the site of the 1960 Nixon-Kennedy debate that turned the election in Kennedy's favor.

For large-scale projects, city officials ask developers to seek community input as part of the zoning process. The Chicago Plan Commission would have to approve the project before it gets to the City Council.

"We filed with the city just to get the process going," Golub said. "There's much about this design that remains to be decided."

Golub expects the offices will be attractive to medical groups affiliated with Northwestern Memorial Hospital.

Channel 2 is moving its studios to the northeast corner of Dearborn and Washington as part of the Block 37 redevelopment. Despite construction snags at Block 37, the new CBS building is expected to be done by late 2008.

Property records show the Golub firm acquired the McClurg property from CBS Corp. for $26 million in a sale that closed last December.
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Old April 7th, 2006, 06:45 PM   #752
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Quote:
Originally Posted by Frumie
"The Streeterville location offers us the best opportunity to realize our vision. . .
Magoon and Wilmott've gotten to be kidding me? Didn't they realize some streets are narrow? Obviously, they forgot to visualize that parents with SUV or fancy big cars clogging these streets to/from the Children's Hospital.

Last edited by Chi_Coruscant; April 7th, 2006 at 07:23 PM.
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Old April 8th, 2006, 12:02 PM   #753
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^-- huh?? That doesn't even make sense. Having the unabashed access to NWH facilities (as only a Streeterville location could provide) would be a huge benefit to children that were unfortunate enough to have to visit Children's Memorial.
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Old April 12th, 2006, 11:46 PM   #754
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Reflections on density and brick

As I am sure many of you have predicted, a development deal is brewing for the painted-gray block of buildings at the northwest corner of the Milwaukee-Grand-Halsted intersection. The plan reportedly is for a 145-unit condominium project. That site, located at the same intersection as a transit stop, and adjacent to at least three bus routes, seems like it should get higher density than that.

Along those lines, I think that the relatively new yellow building across the street was a missed opportunity for more density.

Just as bad, that building has plain yellow brick that makes it looks like a suburban strip mall, or perhaps a suburban condo development. I feel the same way about the yellow brick building at the southeast corner of North and Clybourn.

Public enemy number one is split-faced concrete block. Public enemy number two is plain yellow brick.

Public enemy number three is the mottled suburban beige or peach brick on the painful Pilsen and Bridgeport facade remakes. That mottled brick, which I call "Bolingbrick," after a particularly bland town, is the architectural equivalent of "acid-washed" jeans.
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Old April 14th, 2006, 05:53 AM   #755
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Quote:
Originally Posted by NearNorthGuy
As I am sure many of you have predicted, a development deal is brewing for the painted-gray block of buildings at the northwest corner of the Milwaukee-Grand-Halsted intersection. The plan reportedly is for a 145-unit condominium project. That site, located at the same intersection as a transit stop, and adjacent to at least three bus routes, seems like it should get higher density than that.

Along those lines, I think that the relatively new yellow building across the street was a missed opportunity for more density.

Just as bad, that building has plain yellow brick that makes it looks like a suburban strip mall, or perhaps a suburban condo development. I feel the same way about the yellow brick building at the southeast corner of North and Clybourn.

Public enemy number one is split-faced concrete block. Public enemy number two is plain yellow brick.

Public enemy number three is the mottled suburban beige or peach brick on the painful Pilsen and Bridgeport facade remakes. That mottled brick, which I call "Bolingbrick," after a particularly bland town, is the architectural equivalent of "acid-washed" jeans.
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^ Public enemy number four is all this whining.

Just be happy that the revitalization of our great city continues at a staggering rate. There are other bigger problems worth worrying about
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Old April 14th, 2006, 07:55 PM   #756
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Quote:
Originally Posted by NearNorthGuy
As I am sure many of you have predicted, a development deal is brewing for the painted-gray block of buildings at the northwest corner of the Milwaukee-Grand-Halsted intersection. The plan reportedly is for a 145-unit condominium project. That site, located at the same intersection as a transit stop, and adjacent to at least three bus routes, seems like it should get higher density than that.
seems like its been ten years its been sitting around like that,
its close enough to downtown to warrant a highrise IMHO,
some of the buildings dont look to bad, i think its painted all one color so that people wont give a shit what happens to them after awhile,
they've done that to a few clumps in milwaukee as well including the sydney hih building complex,

the guy must be loaded to pay for the taxes on that site with no income going on there
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Old April 14th, 2006, 07:58 PM   #757
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Quote:
Originally Posted by The Urban Politician
^ Public enemy number four is all this whining.

Just be happy that the revitalization of our great city continues at a staggering rate. There are other bigger problems worth worrying about

ofcourse there is urbs, but to be complacent and just accept everything is also dangerous, we want a nice looking city, not just development for development sake,

i dont consider it whining, it simply is pointing out some drawbacks and poor design that shouldnt be happening, overall i think it is an exciting time for chicago, but there should be more creme de la creme buildings going up,
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Old April 14th, 2006, 08:18 PM   #758
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Quote:
Originally Posted by mohammed wong
ofcourse there is urbs, but to be complacent and just accept everything is also dangerous, we want a nice looking city, not just development for development sake,

i dont consider it whining, it simply is pointing out some drawbacks and poor design that shouldnt be happening, overall i think it is an exciting time for chicago, but there should be more creme de la creme buildings going up,
^ I agree that not everything under construction is creme de la creme. Not everything built before WWII was creme de la creme either, I just think everybody is getting a bit touchy about the older stuff.

I'll let you know when I think Chicago is becoming a less attractive city
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Old April 14th, 2006, 11:14 PM   #759
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Quote:
Originally Posted by The Urban Politician
^ Public enemy number four is all this whining.

Just be happy that the revitalization of our great city continues at a staggering rate. There are other bigger problems worth worrying about

Give me your address. I'll send you some split-faced concrete block. Maybe you'd like to reface your building with it.
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Old April 15th, 2006, 01:50 AM   #760
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Quote:
Originally Posted by NearNorthGuy
Give me your address. I'll send you some split-faced concrete block. Maybe you'd like to reface your building with it.
^ I don't mind cinderblock along the sides and rear of buildings in the least.

Everybody's nostalgic hard-on for Chicago common brick is nice, but I'm not particularly concerned about this issue
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