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Old April 8th, 2009, 01:52 AM   #361
spyguy
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http://www.chicagorealestatedaily.co...age.pl?id=2166

Chicago: Gansevoort Hotel: 500 N. State St., 235-room hotel, March 2009, $95 million
----

LaSalle Power Co. is set to open next month in the former Michael Jordan restaurant/ Lalo's building.

http://www.lasallepowerco.com/

Quote:
Chicago's group behind English, Grand Central, Angels & Mariachis, and The Central among others, is pleased to announce its newest venture; LaSalle Power Co. located at 500 N. LaSalle.

The 20,000 square foot, tri-level rock ‘n' roll inspired restaurant, bar and music venue is the latest addition to the booming River North neighborhood.
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Old April 8th, 2009, 05:23 AM   #362
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The 20,000 square foot, tri-level rock ‘n' roll inspired restaurant, bar and music venue is the latest addition to the booming River North neighborhood.
Oh god, that sounds just awful.
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Old April 8th, 2009, 05:49 AM   #363
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Gansevoort Hotel: 500 N. State St.
Assuming that's going up on the NW side of State and Illinois? ($95 million for just the land?!?) Strange name, but their locations in NYC and Miami look pretty nice.
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Old April 12th, 2009, 10:45 PM   #364
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Oh god, that sounds just awful.
I can't argue with the Black Keys on their preview video, though.

Also, the name (and I hope the decor) pays homage to the structure's past history as a power substation/carhouse for the streetcar lines.

It seems like it fits right into that district with the Rock'n'Roll McDonald's and everything else....

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Assuming that's going up on the NW side of State and Illinois? ($95 million for just the land?!?) Strange name, but their locations in NYC and Miami look pretty nice.
Their original location was on Gansevoort Street in New York's Meatpacking District, hence the name. Supposedly, the hotel will contain an STK restaurant (ie the most expensive steaks you've ever seen).
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Old April 15th, 2009, 09:31 PM   #365
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Oh god, that sounds just awful.
Ugh! Well, consider the source, I guess: the creators of some of the most life-like habitats ever crafted for Lincoln Park Trixies.

Gansevoort is one of the few Dutch street names to survive in Manhattan. 200 rooms is a bit big for a boutique, though.
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Old May 2nd, 2009, 10:41 PM   #366
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http://www.chicagobusiness.com/cgi-b...rticleId=31699

Friedman pushes post office plan
By: Thomas A. Corfman and Eddie Baeb May 04, 2009


Real estate developer Albert Friedman and the U.S. Postal Service are struggling to pull together a deal to build on one of the last large development sites in the congested River North neighborhood.

...But their vision of a large mixed-use project, which could include a hotel, retail space or residential units, conflicts with the local alderman's desire for more park space in an area already jammed with high-rises. At the same time, collapsing capital markets make financing large projects all but impossible.

...Mr. Friedman says he hasn't formalized his plans. But Mr. Reilly says he didn't like a proposal he saw, which called for an L-shaped structure along Ohio and Dearborn, with open space at the corner of Grand and Clark.

"In my view, that was a bit ambitious," says the alderman, who wants a park to cover 70% of the site.
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Old May 20th, 2009, 05:49 PM   #367
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http://www.chicagorealestatedaily.co...ws.pl?id=34100

John Barleycorn eyes River North
By Eddie Baeb, May 20, 2009


Well-known Lincoln Park pub John Barleycorn plans to open a restaurant at a River North site where developer Michael Reschke has dropped a plan for a 235-room boutique hotel.

Barleycorn owner Sam Sanchez says he has signed a letter of intent to anchor a new building at the northwest corner of State and Illinois streets. Barleycorn’s two-level, roughly 20,000-square-foot bar and restaurant would be the establishment's fourth location, including one that opened last spring in northwest suburban Schaumburg.

...Mr. Reschke says he let his contract to buy the site from Mr. Beale’s group lapse a few months ago “for various reasons,” and that his deal with New York-based Gansevoort Hotel Group remains in place and was extended for another year.

“There are plenty of other sites that have come on the market in the last six months,” Mr. Reschke says. “We have our eyes set on a couple alternate locations in River North.”
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Old May 20th, 2009, 06:56 PM   #368
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^ Why the thumbs down? It's a perfect development for this part of town, replaces a parking lot, and the building has just enough height to block sightlines of Grand Plaza's butt-ugly podium from further south. Looks good to me
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Old May 27th, 2009, 11:04 PM   #369
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http://www.chicagorealestatedaily.co...ws.pl?id=34177

Marovitz/Cataldo project hit with foreclosure suit
By Samantha Sleevi, May 27, 2009


Prominent developers William Marovitz and Constantine "Bud" Cataldo have become entangled in the collapse of the condo boom, with a lender filing an $8.4-million foreclosure lawsuit on a 27-unit River North loft project they proposed.

Mutual Bank alleges that a venture owned by the two men defaulted in January on an $8.15-million loan on a vintage five-story warehouse building at 660 N. Kingsbury St., which they had proposed converting into loft condominiums, called the Park Kingsbury.
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Old May 28th, 2009, 01:51 AM   #370
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Hotel Felix

db 1920/ flickr

db 1920/ flickr

I like how they kept the old Hotel Wacker sign, sort of.
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Old May 28th, 2009, 07:21 PM   #371
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http://www.chicagorealestatedaily.co...ws.pl?id=34199

River North site from condo plan to hotel?
By Samantha Sleevi, May 28, 2009


Facing an $8.8-million foreclosure lawsuit on the site of his proposed River North condominium tower, a marketing executive and aspiring developer now says he has hotels knocking at his door.

Unfazed by the complaint filed by lender Geneva Capital Associates LLC, Paul Stanley says he plans to shift to a hotel in order to avoid losing the site at 8 E. Huron St., where he first proposed a 28-story condo building in 2002.
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Old June 7th, 2009, 10:28 PM   #372
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BartShore/ flickr
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Old June 8th, 2009, 02:39 AM   #373
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^ So much available space to build on. We'll probably need another 2 or 3 booms to fill this part of the city with high-rises from the lake to the river.
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Old June 8th, 2009, 06:01 AM   #374
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Quote:
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^ So much available space to build on. We'll probably need another 2 or 3 booms to fill this part of the city with high-rises from the lake to the river.
Yup. Many surface parking lots and ugly 1 or 2 story restaurants that could and should come down. It would be quite a sight to see towers stretching from Streeterville all the way to Erie Park. Hopefully those future buildings lose their parking podiums and are more interesting than beige concrete towers. With River North's galleries and showrooms, I'd like to see funkier designs (like the buildings along the High Line in NYC) than we're used to.

I was bored and highlighted all the significant new buildings built after the year 2000

(Original pic from: BartShore/ flickr)
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Old June 8th, 2009, 05:32 PM   #375
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^ Yeah, thank God those "ugly" 1-2 story buildings were replaced by such beauties as Grand Plaza. Look how its graceful podium gazes lovingly over the pedestrians around it..

Sorry, but I'd rather not see another skyscraper boom if more buildings like the pieces of shit built in River North this past decade are built
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Old June 9th, 2009, 07:37 AM   #376
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You take the good, you take the bad, you take them both and there you have the facts of life!

It will fill in, some buildings will be great, some will be poor. Just like this boom, some were gems and some weren't. It is ridiculous to think everyone will be a masterpiece, that is not how it works.

Whatever it looks like, less beige will be a great thing, but seeing that density will be beautiful.

Makes me wonder whether a new rail line will be needed, maybe one along the river. Or a stop on the Brown line between Sedgwick and Chicago.
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Old June 9th, 2009, 07:25 PM   #377
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The thing that puzzles me is that River North, which is the densest, centrally located neighborhood in the city, is still so underdeveloped. I do not know any major world city that has so many surface parking lots in its downtown area. The most disappointing area in the entire city is that monstrous parking lot with two lone, freestanding building on Chicago avenue, across the street from YMCA.

I am really not so concerned with development in south loop, west town and other areas, when there are 2 dozen or so empty parking lots in River North.
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Old June 9th, 2009, 10:18 PM   #378
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^Some of the nastiest, most gargantuan lots in River North are from our buddies in religious organizations. If they want tax-exempt status, then they need to comply with strict development criteria. The fact that many don't pay property taxes on block-large, neighborhood-killing swaths of pavement is complete bullshit.

Drive-through banks taking up entire half-blocks is completely unacceptable as well. Only in Chicago do you see massive collections of 40+ story high-rises next to pedestrian wastelands of McDonald's, suburban-style Walgreen's, drive-throughs, and parking lots. That's what an absurdly generous off-street parking requirement will do. Why walk from your penthouse of luxury when you are so graciously accommodated to park and drive anywhere you choose to go?
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Old July 11th, 2009, 02:12 AM   #379
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Apparently the Shell gas station at Chicago & Orleans will become a drive-through National City bank.

Last edited by spyguy; July 11th, 2009 at 02:22 AM.
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Old July 11th, 2009, 09:56 AM   #380
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Barf!
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