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Old November 13th, 2005, 09:31 PM   #1
LA1
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Uptown/Buena Park Development News

Recently Completed. Buena Pointe 4350 N. Broadway. 11 Stories. Broadway/Montrose/Sheridan Intersection.



Location of Buena Pointe (much credit to Krzycho's awesome thread)
BP is to the far left. Uptown highrises in center/left of picture.


Uptown Theatre Lofts.




Sheridan Grande.


Sheridan Place.



4420 N. Clark (Montrose).


The Mark Condominums. Sheridan and Broadway. 3 Blocks from the Wilson El Station.

Last edited by LA1; November 14th, 2005 at 07:32 AM.
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Old November 13th, 2005, 11:17 PM   #2
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$4M Renovation Planned for Uptown Broadway Building
By Mark Ruda
Last updated: September 20, 2005 07:07am


CHICAGO-An Uptown building considered historically significant has found a developer willing to restore it to its original splendor, but at a cost to the city of more than $1.1 million. The community development commission recently endorsed tax increment financing up to 26% of the project’s estimated $4.1-million cost for broker Thaddeus Wong, co-founder of @Properties, to renovate the three-story, 19,000-sf Uptown Broadway building at 4703 N. Broadway Ave.


“This is a building we’ve loved, and have had high hopes for, but we wondered who would step forward,” says 48th Ward Alderman Mary Ann Smith. “The developer has really taken something on here out of love. We consider ourselves very, very lucky that he fell in love with it.”


Wong plans to replace the heating, ventilation and air conditioning as well as electrical systems, add interior walls and renovate the terra cotta exterior. When completed, he plans to have two first-floor retail spaces totaling 3,500 sf, which already are attracting interest from prospective restaurant and night club operators. The two upper floors of the 79-year-old building will offer 8,600 sf of office space. Wong’s projected return on the project is 7.5%, according to Michelle Dewlen of the department of planning and development.


“I’m excited about the project,” Wong says. “My major goal is to restore the building to its original splendor.”


Wong has hired Baum Realty to find retail tenants and has generated letters of interest. He plans to keep the building and manage it after it is renovated.


Part of the building’s history includes legend that it was connected by an underground tunnel system to hang-outs frequented by Al Capone, Smith says.
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Old November 13th, 2005, 11:45 PM   #3
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I'm curious if anyone has information or renderings for the large Wilson Yards project? It's sure to be a catalyst for improving that stretch of Broadway.
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Old November 14th, 2005, 12:18 AM   #4
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I was looking for that rendering too. I'm sure it is one of those threads that list "development" or "northside" in general. Again, another reason to make it by neighborhood.
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Old November 14th, 2005, 12:34 AM   #5
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Quote:
Originally Posted by LA1
I was looking for that rendering too. I'm sure it is one of those threads that list "development" or "northside" in general. Again, another reason to make it by neighborhood.
I don't think I've ever seen a rendering for that project, only information of what it will contain... Urban Aldi's, Movie theater, Mixed income housing units, etc.. This is a major development, a Block 37 of sorts for Uptown. With this in place and maybe a future redevelopment for the Uptown Theater the neighborhood can once again be a force in the nightlife scene.
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Old November 14th, 2005, 12:41 AM   #6
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Its been shown on this forum somewhere. Not a good rendering, but it shows all 3 buildings.
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Old November 14th, 2005, 12:44 AM   #7
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Quote:
Originally Posted by NWside
I'm curious if anyone has information or renderings for the large Wilson Yards project? It's sure to be a catalyst for improving that stretch of Broadway.
^It's being developed by Holsten Real Estate, and they haven't updated their website in almost 2 years!
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Old November 14th, 2005, 12:59 AM   #8
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Quote:
Originally Posted by The Urban Politician
^It's being developed by Holsten Real Estate, and they haven't updated their website in almost 2 years!
Here's a link to information from the city regarding WYP...

http://egov.cityofchicago.org:80/cit...o&context=dept

Also a link provided by LA1 explaining more into depth the project and some neighborhood developments...
http://p197.ezboard.com/fbuenaparkneighborsfrm7
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Old November 14th, 2005, 06:49 AM   #9
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GUNNISON ST. LOFTS
FIRST FLOOR COMMERCIAL PLUS
4840 N. BROADWAY
22 RESIDENTIAL Units.
CHICAGO, IL

This gorgeous building is a Contributing Structure in a national Historic District, and conveniently located within the rapidly appreciating Uptown community within the Broadway Entertainment District.

Finnegan is constructing a lower-level parking garage, first floor retail, and three floors of new loft condominiums, totaling 22 units.

The second floor of the building will have 9 standard lofts, each with one or two bedrooms. The third floor of the building will have the first floor of 13 duplex lofts. The fourth floor of the building will be newly constructed and will contain the second floor of the duplex units. These duplex lofts will have 2, or 3 bedrooms.

Located in the heart of Uptowns newly created TIF & Historic districts & five to six miles North of Chicago's central business district (the Loop), Gunnison Lofts offers convenient access to those working downtown by public transportation (2 blocks from the EL) or Lake Shore Drive (4 blocks away). It is also a five-block walk to lakeside parks, beaches & harbors. There will soon be many choices for residents to shop, eat or be entertained.

Please click on Sample Floor Plans and Rent Listings to learn space and pricing information:

Sample Floor Plans
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Old November 14th, 2005, 07:59 PM   #10
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buena pointe looks nice for what it is, a necessary hulking building that caters to low income housing, oops I guess it doesnt, but it sure looks like a great future tenement,

Really its okay, but who the **** would buy a condo there? It should be low income housing, hilarious.


LA1 thanks for creating this thread, by far the uptown theatre lofts project looks the best, the others are allright with most of them looking as great future tenements,
except the mark condos look sharp and austere.
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Old November 21st, 2005, 03:44 AM   #11
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Area Youth Speak Out Against Changes To Their Neighborhood

By Conan Milner, Epoch Times Chicago Staff Nov 17, 2005

Photo caption:

CHANGING NEIGHBORHOOD: This freshly painted mural on the corner of Winthrop and Argyle in Chicago's Uptown neighborhood, depicts the many ethnicities and industries that have made this part of town their home over the last century. A group calling themselves the Argyle Street Youth are protesting the gentrification of this neighborhood that they say are, in effect, pricing long-time, low-income residents out of Uptown.

Article text:

In a recent open a letter, a group of fourteen young people between the ages of 14 and 20 calling themselves “The Argyle Street Youth” wrote about the changes taking over their neighborhood, “As we look out the windows of our own apartments (some of us in subsidized housing), we see the construction that has quietly crept into our neighborhood going unchallenged. We see row after row of new complexes and buildings surrounding Argyle with large signs inviting those who can afford to live in new condos. We see more than 60 rehabilitated homes, condos, and buildings — stretching over a 6 block radius, built snuggly next to each other and facing off with old buildings filled with poor people and senior citizens. We see new neighborhood amenities that old residents cannot afford such as Starbucks & Borders. We see our parents worried and confused as notices from landlords announce rent increases or possible evictions. We worry if Argyle residents (non-English speakers) don’t understand what is happening to the neighborhood. There is no word for gentrification in Vietnamese or Chinese, but there is a word for displacement.”

Anyone who has been through Uptown in the past five years has certainly witnessed these changes taking place. In 2001, the Chicago Tribune wrote about Uptown as an up and coming real estate opportunity, but observed possible problems with the new developments. A.T. Palmer writes, “…growth has an underside, community leaders warn. Uptown has lost about 2,000 to 3,000 families since 1990…Gentrification and its impact on Uptown’s property values, affordable housing and racial and ethnic diversity elicit a range of reactions from long-time residents, newcomers, community activists, real estate brokers and urban experts…There’s some excitement by homeowners about rising property values, an increasing middle class and plans for brand-name retail stores; some dismay over the changing look of some residential streets and loss of some local citizenry; and worry because there’s no comprehensive, long-range neighborhood plan.”

Some mention that the rehabbing of Uptown is just part of the natural cycle of a city’s development. After all, at the turn of the last century Uptown began as a lakeside, summer resort destination populated with large stately homes. As the city was hit with harder economic times, these big houses were split up into several low-cost units.

Along the way, many state and not-for-profit social service agencies began operating in the neighborhood, serving patients recently released from psychiatric institutions acclimation to society. In the late 70’s, Uptown’s demographic dramatically changed, seeing many immigrants from South East Asia and Africa come to the area.

Today, the face of Uptown is changing again as young professionals— who want to buy a condo in the city but avoid the high Lincoln Park, Wrigleyville or Andersonville price tags— choose Uptown not only for its diversity but also its affordability in an area near the lake and convenient to public transportation. Predictably, many businesses that cater to the needs of these new residents are following in as well.

The Argyle Youth go on to write, “We know that ‘change’ is sometimes good and an inevitable process, but we feel like ‘sweeping out’ is a more appropriate word to describe what is happening. What about those that have lived here for more than thirty years? What about the families that used to live where new condos now stand? What about the current families living in affordable housing— the people most impacted by neighborhood change. Have they been informed? Have they been considered? We believe there is a difference between gentrifying and revitalizing the neighborhood. Revitalizing is a process that looks to serve all— including the disenfranchised, the homeless, and the non-English speakers. Immigrant families and residents have not been included in this process of change. In fact, we feel like immigrant families and old residents have become the ‘undesirables’ standing in the way of new development.”

On an East Ravenswood/ Uptown weblog, one resident reasons that some of these changes are essential to the neighborhood’s survival. However, the blogger argues that the process requires a more thoughtful approach, writing that, “…The real problem is the effect that these [franchises] and the new condos will have on property value and thus rent and property taxes. A lot of people rightly complain about Alderwomen Shiller and Smith, but their work to ensure low-income housing in the neighborhood is crucial to maintaining Uptown’s diversity and integrity. Uptown needs new businesses and is not in a position to pick and choose who and what is going to build here. What Uptown can do, though, is ensure that the people who live here and the businesses that are located here do not get priced out of the neighborhood.”

So what does the future hold for a more upscale Uptown? The Argyle Youth observe that if long-time residents are not included in the revitalization process, the result could mean more racial tension, more police presence and possible rezoning to meet the needs of residents of a new higher income. They write, “As youth, our voices are not taken seriously. But as immigrant youth, our voices carry messages in and out of two different worlds. It is with this power that we will do everything necessary to inform our families and to speak out for them. Soon Argyle can expect a demand for equal inclusion in this process of change, as all residents have the right to participate in democracy, especially when it comes to our neighborhood
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Old November 21st, 2005, 04:00 AM   #12
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What's the Wilson Yards development? Is it the one with the Target?
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Old November 21st, 2005, 04:02 AM   #13
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^
Yes. I still havent found a nice rendering yet.
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Old November 21st, 2005, 04:13 AM   #14
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Ah, okay. Hopufully it'll go through; do the odds look pretty good?
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Old November 21st, 2005, 04:45 AM   #15
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Theatre Lofts should be spectacular.
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Old November 24th, 2005, 06:49 AM   #16
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Never saw this angle before:


Lovely tower.
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Old November 24th, 2005, 08:25 AM   #17
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Quote:
Originally Posted by pottebaum
Ah, okay. Hopufully it'll go through; do the odds look pretty good?
Yeah its going through. I work for the City Colleges, Truman College, and it is definetly happening. The Wilson Yards has been used as parking for Truman and that parking is recently gone to make way for the project. The project is going to start soon.
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Old November 24th, 2005, 06:14 PM   #18
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Quote:
Originally Posted by spyguy999
Never saw this angle before:


Lovely tower.
^Coolness. Has it even been approved/started sales yet?
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Old November 24th, 2005, 06:15 PM   #19
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Quote:
Originally Posted by qwerty1324
Yeah its going through. I work for the City Colleges, Truman College, and it is definetly happening. The Wilson Yards has been used as parking for Truman and that parking is recently gone to make way for the project. The project is going to start soon.
^Yeah, the Uptown Neighbors association keeps whining about it, but I am excited about Wilson Yards. There is a lot of potential there, I just wish the damn developer would finally release some renderings/site plans
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Old December 9th, 2005, 03:41 PM   #20
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^Have they confirmed that it'll have indoor parking?
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