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Old February 9th, 2007, 07:02 AM   #941
ThirdCoast312
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Quote:
Originally Posted by ardecila View Post
I'm still holding out for a Dean + Deluca. They have amazing coffee...
Macy's and Dean + Deluca, what could possibly be better? Perhaps The Strand and Grey's Papaya could open up across the street?? Anyone interested?
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Old February 9th, 2007, 07:41 AM   #942
ardecila
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Well, obviously a similar locally-owned business would be better. However, I don't know of one on the same scale - which is kinda funny in America's culinary capital.
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Old February 13th, 2007, 01:41 PM   #943
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http://www.suntimes.com/business/254...-apt13.article

OK for apartments sought at Lake, Wells garage site

February 13, 2007
BY DAVID ROEDER AND FRAN SPIELMAN Staff Reporters
One of downtown's longtime parking garages would be demolished and replaced with a 43-story apartment tower under a zoning plan filed at City Hall.
The proposal calls for a building with 335 units at 200 W. Lake, the northwest corner of Lake and Wells. On the site is a three-level parking garage and a small surface lot.

Zoning documents say the building also would get parking for about 550 cars, an unusually large allotment. City officials have urged developers to be generous in providing indoor spaces, especially when their buildings replace garages and lots that drivers have relied on for years.

Submitting the proposal was Hinsdale-based Midwest Property Group Ltd. Its president, Jaime Javors, said studies show demand for rental homes downtown is growing.

Javors also said the building's parking garage will connect to Post Place, a small street that provides access to Lower Wacker Drive and Lake Street. He said the city likes that the building's traffic can come and go on Lower Wacker without clogging the rest of the Loop.

The zoning application starts a review process that could take several months and culminated in a vote by the City Council.

Ron DeVries, vice president at Appraisal Research Counselors Ltd., said the downtown market has lost 6,310 apartments to condominium conversions since 2000, or about 25 percent of its base. DeVries, a consultant on the 200 W. Lake deal, said he expects it will be priced for young renters looking for proximity to downtown jobs.

The project is close to the 188 W. Randolph building, a vintage office tower being converted to apartments, and a site at 215 W. Washington that's scheduled to get a 49-story apartment building, with parking taking up the first 12 levels.

Across the street from 200 W. Lake is Century Tower, downtown's most prominent condo conversion of the last two years. American Invsco Corp. converted the units after first renovating the 1930 building and changing it from offices to apartments.

Midwest has hired the Chicago architectural firm Solomon Cordwell Buenz to design 200 W. Lake.
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Old February 13th, 2007, 05:46 PM   #944
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^Great to hear. And so another parking structure meets its demise. I like that much of the parking-related traffic will be channeled underground, though I worry about what the base will look like given the amount of parking it's expected to accommodate. I hope it contains retail as that area could really use a little more vibrancy.
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Old March 8th, 2007, 08:06 PM   #945
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Six North Michigan - Condo Conversion

Condo project across from Millennium Park to be completed
A long-stalled condominium project across from Millennium Park is back on its feet.

Chicago-based brokerage @properties is getting ready to start selling condos in a vintage office building at 6 N. Michigan Ave., a project launched seven years ago by a little-known developer.

The developer, Chicago-based Global Real Estate Investors LLC, defaulted on a $44.8-million construction loan, so one of the project’s lenders, Oak Park-based FBOP Corp., is finishing the job.

Though the condo market has slowed, the bank’s timing could be good. The neighborhood has become increasingly popular with condo buyers since the opening of Millennium Park in 2004.

Related Article Topics | Related Industry News
Because of the “Millennium factor,” the project “is in a stronger market position today than it was two, three years ago,” says Garry Benson, president of Garrison Partners Inc., a Chicago-based condo marketing firm.

Once the headquarters of Montgomery Ward & Co., the 21-story building sits almost directly across from Cloud Gate, the polished chrome sculpture also known as “The Bean.”

Units are “basically finished” on some of the building’s lower floors, and @properties plans to open a sales center and models before Memorial Day, says @properties Co-founder Michael Golden. Some buyers will be able to move in by September or October, he says. Unit prices will range from the $300,000 range up to $4 million for a penthouse.

An FBOP executive did not return phone calls.

Buyers had signed contracts for 73 of the 129 condos in the building by early 2005, according to a report by Appraisal Research Counselors, a Chicago-based consulting firm that tracks the condo market. Around 38 contracts are still valid, Mr. Golden says.

The bank “is going to honor those deals,” he says.

Global Real Estate Investors launched the conversion in 2000 but ran into financial problems a few years later. After the developer defaulted on its construction loan, the original lender, CIB Bank, filed a lawsuit in 2004 alleging that the firm illegally diverted money from the project into other business ventures.

A judge later dismissed the suit, but CIB Bank is still trying to collect $40 million from one of the firm’s principals, Romel Esmail, who guaranteed the loan. The firm’s other principal, Bassam Haj Yousif, filed for Chapter 7 bankruptcy protection in 2005. His case was closed in December.

CIB, meanwhile, cut a deal to relinquish control of the project to Cosmopolitan Bank & Trust, a unit of FBOP, which took title to the property in January.
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Old March 8th, 2007, 08:21 PM   #946
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Would someone please post a pic of this building. I'm having a hard time figuring out which one it is.
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Old March 8th, 2007, 08:27 PM   #947
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Until someone posts a non-copyrighted pic, here's the link to a couple pics: http://www.emporis.com/en/wm/bu/?id=...chicago-il-usa
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Old March 8th, 2007, 09:09 PM   #948
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..

Last edited by Loopy; June 18th, 2010 at 06:00 PM.
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Old March 8th, 2007, 11:45 PM   #949
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Burnham Pointe



Printers Corner




Vetro




1720 S Michigan





900 S Clark




Michigan Avenue Tower II

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Old March 9th, 2007, 12:43 AM   #950
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Quote:
Originally Posted by Loopy View Post

Am I having a nervous breakdown?
Yes.

Anyway, I wish they would reconstruct the pyramid at the top - if done correctly it would be a signature feature of the streetwall and worthy of TIF money or other funds as a way to honor Ward for keeping Grant Park as open space.
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Old March 9th, 2007, 01:57 AM   #951
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Does anyone have a picture of what that once looked like?
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Old March 9th, 2007, 02:29 AM   #952
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..

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Old March 9th, 2007, 03:31 AM   #953
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Even though the building still exists, it's sad how stripped it looks today.



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Old March 10th, 2007, 04:35 AM   #954
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^Nice work, dan. We don't get enough updates of these buildings.
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Old March 10th, 2007, 04:55 AM   #955
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I have a question about the 900 S Clark picture. Is it the building with the black tarps covering it or is it the rebar sticking out of the ground in the foreground of the picture?
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Old March 10th, 2007, 05:58 AM   #956
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I couldn't figure out what this one was in the S. Loop and I forgot what street it was on, maybe S. Michigan or S Wabash?

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Old March 10th, 2007, 09:34 AM   #957
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Quote:
Originally Posted by danthediscoman View Post
I couldn't figure out what this one was in the S. Loop and I forgot what street it was on, maybe S. Michigan or S Wabash?

I'm guessing the Marquee Michigan?
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Old March 10th, 2007, 04:58 PM   #958
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^oh yeah, your right, I guess I just tried to repress this one from memory...it worked!
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Old March 18th, 2007, 01:20 AM   #959
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Vetro

Taken today:





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Old March 18th, 2007, 01:21 AM   #960
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Printers Corner and Marquee Michigan Avenue

PC


MM
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