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Old May 25th, 2008, 06:03 PM   #81
skybuzz
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I was just looking at the Central Area Action Plan PDF again... Here is the biggest question I have:

What do you think the chances are of the "Kennedy Cap" taking place?

Don't you think this is one of the most phenomenal projects Chicago could undertake?
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Old May 26th, 2008, 11:54 PM   #82
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The chances are very slim, due to the huge cost of construction and ventilation. I think we'll definitely see some covering of the highway once the West Loop is filled with office towers east of the Kennedy, with WLCO fighting tooth and nail to keep towers out of areas west of the Kennedy. Once that happens, land will be scarce enough to justify building towers over the highway, as they are fond of doing in Boston or Atlanta.

But covering it with parkland? I honestly can't see where the money for that is gonna come from, especially since Millennium Park came in WAY over budget and even now still relies on huge corporate subsidies and advertising revenues. Of course, MP has also brought in untold millions in tourism for the city, so make of that what you will.

Over the years, it's been mentioned on and off as a possibility, along with the Eisenhower between Halsted and Ashland, or something like that. Honestly, I'd rather see the Metra Electric tracks covered through Grant Park before we cover the expressways.

Last edited by ardecila; May 27th, 2008 at 12:02 AM.
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Old May 27th, 2008, 01:17 AM   #83
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^ Yeah, I only see that happening with private money and with a profit incentive (ie land being used for office space, etc). I just don't see anybody coughing up the money to build this huge project just to create enormous swaths of trees & grass, and to be frankly honest, I'd rather see this area be developed into highrises
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Old May 27th, 2008, 04:48 AM   #84
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I think if Daley makes it a priority, it can happen.

Although MP was a huge cost overrun, only a small portion of the $500M price tag was linked to the superstructure. About $100M was tagged for the garage and about $60M for Metra superstructure. Landscaping was about $40M - so the project cost about $200M without the bells and whistles. With soft costs bringing it up to $240M, the project cost about $10M an acre, or $225/SF. That is pretty cheap for land in this area.

I could see a joint venture with Old St. Patrick's Church (Daley loves this place) help push this forward. As they have been selling off their land to developers, they will need open area for the school and functions. They have been making a fortune selling off their land so they could turn around and use the money to buy the created open space. Old St. Pat's sold one of their surface lots for $400/SF about a year ago. I think they can make something work here.

The empty lots flanking the expressway between Adams and Madison could really benefit from the park, which could help offset costs for the development (they can work out a deal to count the area in their FAR). Maybe a trial portion between Adams and Madison could be developed?

A few ways they can offset costs:

- Parking - they could put angled parking in and lease the spots to a company to meter/charge for parking
- Corporate sponsors
- Sell land to adjoining property owners, place a type of conservation easement over the land, and let them use in their FAR. Similar to the Chicago Spire with DuSable Park - they can be developed together. Benefits would be a square with fountains for employees to enjoy such as at the Chase building.
- Lease to restaurants on the park
- Park District Capital Funds (they get a $400M budget every year).
- Rental of facilities to corporations
- TIF funds (which would be ironic because the increased taxes would be taken away from the park district).
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Old June 21st, 2008, 01:49 AM   #85
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[QUOTE=PrintersRowBoiler;21124083]I think if Daley makes it a priority, it can happen.

Although MP was a huge cost overrun, only a small portion of the $500M price tag was linked to the superstructure. About $100M was tagged for the garage and about $60M for Metra superstructure. Landscaping was about $40M - so the project cost about $200M without the bells and whistles. With soft costs bringing it up to $240M, the project cost about $10M an acre, or $225/SF. That is pretty cheap for land in this area.

I could see a joint venture with Old St. Patrick's Church (Daley loves this place) help push this forward. As they have been selling off their land to developers, they will need open area for the school and functions. They have been making a fortune selling off their land so they could turn around and use the money to buy the created open space. Old St. Pat's sold one of their surface lots for $400/SF about a year ago. I think they can make something work here.

Planning commission.....

"A proposed Business Planned Development Application submitted by FRC-MJ,
L.L.C., for the property generally located at 601 West Monroe Street. The
applicant proposes to construct two office buildings of 27 and 30 stories with
ground-floor retail space and 460 off-street parking spaces. The Applicant
proposes to change the zoning of the site from DC-12 Downtown Core District to DC-16 Downtown Core District prior to establishing the Business Planned
Development. (2nd Ward)"
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Old July 2nd, 2008, 05:20 PM   #86
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http://www.suntimes.com/business/roe...eder02.article

GREEKTOWN HOTELS?
July 2, 2008
DAVID ROEDER


David Wallach, principal of W Development LLC, has been showing to community leaders plans for a hotel at 123 N. Sangamon, a site previously earmarked for new homes. Wallach also has shifted plans for a nearby location, the northeast corner of Halsted and Van Buren, where he now wants to combine a hotel with a relocated Hellenic Museum and Cultural Center.
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Old October 1st, 2008, 05:49 PM   #87
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Has anyone been to the new Jewel-Osco at Kinzie & Desplaines yet? I shopped there last night for the first time. It's a beautiful store, and much easier to navigate (both parking-wise and within the store) than the Skybridge Dominick's. I think it's a nice addition to the West Loop/River West area.
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Old October 8th, 2008, 02:07 AM   #88
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Jefferson and Randolph
Architect: SCB
12,000 sf of retail
5 floors of parking (~250 cars)
5 floors of office space (~100k sf)
300+ units.

The height is somewhere around 450 ft IIRC.

They're planning to start construction in late 09 and the building should be LEED certified.


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Old October 14th, 2008, 09:50 AM   #89
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New K Station Tower



The rendering looks to the southeast, although the Chicago skyline is not shown, and the other K Station towers are shown only in tan.
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Old October 15th, 2008, 01:57 AM   #90
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Very nice!
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Old December 3rd, 2008, 11:27 PM   #91
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Does anyone know if 33Six (336 S. Morgan) is officially "dead"? The on-site billboard for it has been replaced with an ad for the VB1224 development down the street. I think the sales center that was on the ground floor of Automatic Lofts is closed as well.
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Old December 4th, 2008, 07:19 AM   #92
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http://www.chicagojournal.com/main.a...554&TM=544.452

A Green Line station at Morgan
Would serve new residents and longtime businesses

By MICAH MAIDENBERG


A new el station will be built on the Green Line at Morgan Street in order to serve an increased population in the northern part of the West Loop. The station, expected to cost between $35 million and $40 million in tax increment financing dollars, will be built despite a feasibility study that found more potential riders for a Western Avenue stop on the Green Line.

Steele said construction on the station will begin in 2009, with an opening expected in late 2010 or in the early part of 2011.
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Old December 4th, 2008, 10:51 PM   #93
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Good to hear!
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Old December 5th, 2008, 05:36 AM   #94
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I bet they're kicking themselves for tearing down the old Halsted station, but this is indeed great news!
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Old January 11th, 2009, 12:48 AM   #95
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Updated Metra Market renderings

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Old January 11th, 2009, 03:02 AM   #96
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^ Dude, the people they put in these renderings crack me up. They all look like a bunch of well-dressed hipsters who are so sexy and chique that they belong in a Paris fashion show. You'll never see a hairy fat dude wearing a Cubs hat in one of those pics.

The woman in that first pic is especially entertaining, looking up to the sky dreaming of meeting the man of her dreams...at MetraMarket
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Old January 11th, 2009, 05:53 PM   #97
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lol

Did the Metra station ever have this market before? I've been using Olgilvie to come into Chicago for ~10 years now and I can't remember not seeing the Metra Market flags outside, yet I've never seen the market...how long have they been there? When will this happen (if ever)?
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Old January 11th, 2009, 06:02 PM   #98
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^ The market supposedly has financing, at least for a portion of the project. Wasn't there an article posted about that recently?
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Old January 15th, 2009, 07:50 PM   #99
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The interior renderings are very mall-like. Not the open-air market that the original plan claimed it to be.
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Old January 16th, 2009, 01:42 AM   #100
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It actually looks like an airport food court to me. Blah.
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