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Old April 6th, 2006, 02:28 PM   #61
edsg25
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could the problem have been that the project is awfully massive and ambitoious for such a non-downtown location?
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Old April 6th, 2006, 04:02 PM   #62
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From what I heard, the units were too expensive. They were successful in generating interest in the smaller units but not the larger. The project will likely go forward with more units than previously planned and a lower price point.
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Old April 6th, 2006, 07:31 PM   #63
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Quote:
Originally Posted by Sparky444
From what I heard, the units were too expensive. They were successful in generating interest in the smaller units but not the larger. The project will likely go forward with more units than previously planned and a lower price point.
It never even got that far. The problem is that you have highrises full of nimby's who are against the towers. Also, I believe that the developer over extended himself somewhat. I don't believe that the project is dead just yet, just somewhat dormant.
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Old April 6th, 2006, 08:24 PM   #64
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Quote:
Originally Posted by UrbanSophist
The Artful Dodger is one of those buildings that shows you what the old Chicago looked like. It would be a true tragedy if it were to be torn down. What's the good in having so many alderman in this city if they all just do stupid things?
from what it says on preservation chicago they are already tearing it down if not already torn down....
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Old April 13th, 2006, 02:20 AM   #65
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Quote:
Originally Posted by Sparky444
Sorry in advance if this information is already out here and I'm just not good at finding it.

Does anyone have any information/pictures on the new developments proposed for Deming Place (next to the Marlborough) and on St. James. I heard the developer is presenting details on the latter tomorrow.

Also, heard financing has almost been locked for redevelopment of the Columbus Hospital site and that something should be announced this month. Anyone have any news?
I posted this earlier in the thread.

]


It will be located at 416-420 West Deming and will consist of three 4-story row homes. The architecture firm is Lucien Lagrange.
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Old April 13th, 2006, 11:01 PM   #66
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Quote:
Originally Posted by hydrogen
I posted this earlier in the thread.

]


It will be located at 416-420 West Deming and will consist of three 4-story row homes. The architecture firm is Lucien Lagrange.
what did they knock down to put this up i wonder?
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Old April 28th, 2006, 06:54 PM   #67
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From today's Chicago Sun-Times:


MB poised for takeover of Lincoln Park site

April 28, 2006

BY DAVID ROEDER Business Reporter




A Chicago-based real estate firm with ownership and financial backing on the East Coast is expected to take over a long-stalled high-rise project in the Lincoln Park area.

Sources said MB Real Estate will assume control of the former Columbus Hospital property, 2520 N. Lakeview. Its three-acre size, rare in the tightly packed community, and its lakefront views have made it a prime site for speculation in luxury housing. But the firm that has controlled the property since 2001, American Invsco Corp., has been unable to begin the project.

Chairman Nicholas Gouletas agreed to buy the site for $35 million, but couldn't generate enough condominium sales to finance even the demolition of the old hospital.

Real estate executives with direct knowledge of the site said MB Real Estate will take over with funding from a unit of General Electric. Terms could not be learned, but sources said GE would fund the land acquisition and leave construction management and condo sales to MB Real Estate.

Gouletas is not expected to keep a role in the deal. He did not return calls.

Besides falling behind in loan payments to LaSalle Bank, Gouletas also owed at least $400,000 at one point to the project's architect, Lucien Lagrange, and the law firm that handled the zoning.

Two people said MB Real Estate and GE are within days of closing the sale.

Peter Ricker, chairman of MB Real Estate, acknowledged discussions about the property in the past but said, "At the moment, I'm not doing anything with it." He also said he's not involved with GE on any matter.

His firm is owned by brothers Edward and Howard Milstein, New York real estate investors who have done many housing deals. MB Real Estate is primarily an office building manager and investment adviser.

Jerry Karr, a managing director at the GE unit, didn't return calls.

As backed by the City Council in 2002, the project called for about 325 units in three buildings facing Lakeview, the tallest being 38 stories. Without changing the building size, Gouletas later reduced the number of units to about 180, making them larger and proposing to charge rates that set new highs for the market of about $1,000 a square foot.

Sources said MB Real Estate will return to the original 325-unit plan, and might even seek to build more to cover a hefty purchase price and construction costs that grew steeper with increases for steel, copper and other materials.

Gene Fisher of the Diversey Harbor Lakeview Association, said his group would fight any effort to add units to the project. "The single most serious problem we see is its effect on traffic and congestion, because the place is already in gridlock," he said.
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Old April 28th, 2006, 07:02 PM   #68
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Does anyone know more details concerning other two towers.....heights stories etc.....I for one am for more highrise development in this part of LP
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Old April 29th, 2006, 04:08 AM   #69
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South Tower - 21 floors, 235 ft.
Middle Tower - 37 floors, 442 ft.
North Tower - 30 floors, 337 ft.

Source: Emporis
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Old April 29th, 2006, 06:42 AM   #70
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Would they dump the original Lagrange designs? I really hope so. But that site definitely has to be 30-40+ floor towers.
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Old April 30th, 2006, 04:07 AM   #71
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I too would love to see them dump it. Its such a great location it deserves better. The current design is a little too NYNY Casino for me.
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Old April 30th, 2006, 04:18 AM   #72
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Are there available renderings for this? I cant figure out which project this is.
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Old April 30th, 2006, 04:37 AM   #73
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There is a really bad picture at Emporis but I can't figure out how to stick it in here.
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Old April 30th, 2006, 05:24 PM   #74
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Quote:
Originally Posted by Sparky444
Gene Fisher of the Diversey Harbor Lakeview Association, said his group would fight any effort to add units to the project. "The single most serious problem we see is its effect on traffic and congestion, because the place is already in gridlock," he said.
Don't these people realize that if their NIMBY BS had been prevelant throughout our city's history we wouldn't be the great place that they now want to live? Typical "I got mine, now **** anybody after me." entitlement attitude.
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Old May 4th, 2006, 01:20 AM   #75
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The Lakeview

^Nothing, thankfully. It's been a parking lot for a while.

In other news... Did anyone catch this article about The Lakeview. I've been wondering why this project has stalled for so long. Here is a rendering (of the middle tower only) in case anyone forgot what it looks like:




MB poised for takeover of Lincoln Park site

April 28, 2006

BY DAVID ROEDER Business Reporter

A Chicago-based real estate firm with ownership and financial backing on the East Coast is expected to take over a long-stalled high-rise project in the Lincoln Park area.

Sources said MB Real Estate will assume control of the former Columbus Hospital property, 2520 N. Lakeview. Its three-acre size, rare in the tightly packed community, and its lakefront views have made it a prime site for speculation in luxury housing. But the firm that has controlled the property since 2001, American Invsco Corp., has been unable to begin the project.

Chairman Nicholas Gouletas agreed to buy the site for $35 million, but couldn't generate enough condominium sales to finance even the demolition of the old hospital.

Real estate executives with direct knowledge of the site said MB Real Estate will take over with funding from a unit of General Electric. Terms could not be learned, but sources said GE would fund the land acquisition and leave construction management and condo sales to MB Real Estate.

Gouletas is not expected to keep a role in the deal. He did not return calls.

Besides falling behind in loan payments to LaSalle Bank, Gouletas also owed at least $400,000 at one point to the project's architect, Lucien Lagrange, and the law firm that handled the zoning.

Two people said MB Real Estate and GE are within days of closing the sale.

Peter Ricker, chairman of MB Real Estate, acknowledged discussions about the property in the past but said, "At the moment, I'm not doing anything with it." He also said he's not involved with GE on any matter.

His firm is owned by brothers Edward and Howard Milstein, New York real estate investors who have done many housing deals. MB Real Estate is primarily an office building manager and investment adviser.

Jerry Karr, a managing director at the GE unit, didn't return calls.

As backed by the City Council in 2002, the project called for about 325 units in three buildings facing Lakeview, the tallest being 38 stories. Without changing the building size, Gouletas later reduced the number of units to about 180, making them larger and proposing to charge rates that set new highs for the market of about $1,000 a square foot.

Sources said MB Real Estate will return to the original 325-unit plan, and might even seek to build more to cover a hefty purchase price and construction costs that grew steeper with increases for steel, copper and other materials.

Gene Fisher of the Diversey Harbor Lakeview Association, said his group would fight any effort to add units to the project. "The single most serious problem we see is its effect on traffic and congestion, because the place is already in gridlock," he said.
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Old May 4th, 2006, 06:08 AM   #76
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Yes. I posted same in Columbus Hospital Redevelopment thread last week.
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Old May 7th, 2006, 04:09 AM   #77
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From this weeks Skyline. Anyone know any more?


Columbus deal looming

BY FELICIA DECHTER
STAFF WRITER

There is still no official confirmation, but according to community sources and a published report, there could soon be movement on the vacant three-acre Columbus Hospital site, 2520 N. Lakeview Ave.

An April 28, Chicago Sun-Times report states that MB Real Estate, "a Chicago-based real estate firm with ownership and financial backing on the East Coast," will take over the project from American Invsco, with funding from GE Capital, the asset management unit of General Electric Corp.

Yet Peter Ricker, chairman of the Loop-based MB, insisted earlier this week that, "MB Real Estate is not involved." Chris Linehan, spokesman for GE, said: "I am not able to provide any information or confirm any involvement."

Lincoln Park residents, Alderman Vi Daley, D-43rd), and Invsco worked to craft a compromise-filled plan that was ultimately approved by the City Council in November of 2002.

The proposed planned development called for Invsco to build 14 townhomes and three, "boutique" high-rise, condominium buildings ranging in height from 22 to 38 stories, with no more than a total (townhomes and condos) of 325 units, although Invsco at one point had reduced that number to 180.

Since the Catholic Health Partners-owned Columbus Hospital closed its doors in Sept. 2002, the property has remained vacant.

Although sources said the deal is expected to be closed within days, "We cannot confirm any details but have reason to believe that there will be news in the near future," said Chuck Eastwood, spokesman for Alderman Daley.

Alex Karras, spokesman for Invsco--whose involvement in the new plan is not certain--said, "I have nothing definitive to report at this time."

Yet according to a community source and the published report, the new developer wants to increase the size of the projectback to 325 units or more. That number did not sit well with local community groups.

"The impact of the latest Columbus news upon the folks who live here would be difficult to overstate," said Gene Fisher, executive director of the Diversey Harbor Lakeview Association. "I've received a flood of calls from local residents, and what they've said makes one thing unmistakably clear: no one should lose sight of the fact that the residents of our community are crucially important stakeholders in this process.

"Their dedicated and tireless efforts succeeded in downscaling the original Columbus proposal to a more responsible size. They can be expected to work equally hard to protect those hard-won gains; and hopefully, to improve upon them."

Eastwood said that regardless of who develops the project, the Planned Development negotiated by the community is what the city will permit for construction.

"We expect any development on this site to fully comply with the limits on height, density and bulk that were stipulated in the PD (Planned Development) ordinance," Eastwood said. "Any potential developer will be made aware of these limits. Any increase would require an amendment to the PD which would face strong resistance by Alderman Daley and the community."

If a new developer comes forward or once the permitting process is initiated, Alderman Daley will bring all parties together to review the process that is defined in the community agreement, Eastwood said.

He said the 325 units was a "very important parameter," because it put this project's density into compliance with what would be allowed by R5 zoning. He added that the square footage limit was important because it complied with the alderman's downzoning of the site, and the height and setbacks were dictated by negotiations with neighboring buildings.
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Old June 19th, 2006, 05:56 AM   #78
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Two new items going on in Lincoln Park.

A new six story building just announced for Deming Place, across from the Columbus Hospital site. OK, so not a skyscraper exactly - but something going on nonetheless. By a hubby/wife team calling themselves Silverleaf Development LLC. Anyone got any more details?

Also, just got invited to a community meeting on the Inn of Lincoln Park. Seems the developers, who received planned development approval two years ago, now want to make some changes. Any info?
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Old June 20th, 2006, 06:33 PM   #79
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Question

There was a Nursing Home (called Whitehall?) on the corner Lincoln Park West and Armitage. It is now torn down. Does anyone know what will be built there?
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Old June 20th, 2006, 07:42 PM   #80
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[QUOTE=hydrogen]^Nothing, thankfully. It's been a parking lot for a while.

good to know,
sorry i was a dick in critiquing your photos,


im not against new stuff,
just mad at what happened in parts of lakeview
where they tear down great old brick buildings to put up inferior product
i personally think it sucks that new construction has to be made out of cinder blocks, it is less sturdy, right?

i guess its the cost in bricks that is prohibitive?
cuz they would just use nonunionized mexicans alot anyways?
seems like this is especially the case in condo conversions.

it seems like those new rowhouses are for supermegarichies,
and eventually these will be condoized, because right now they are single family homes, due to the high cost of housing in the future,

btw they are in a super sweet location near that fancy silver house and they area reminds me of central park in newyork.
definitely alot of super fancy sfh around there.

Last edited by mohammed wong; June 20th, 2006 at 07:48 PM.
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