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Old July 8th, 2006, 06:10 AM   #101
BVictor1
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http://www.pioneerlocal.com/cgi-bin/...06-970831.html

From Skyline

Columbus Hospital demolition to begin
BY FELICIA DECHTER|STAFF WRITER
July 6, 2006

[email protected]

Condo planned for prime site

Demolition on the long-shuttered Columbus Hospital site, 2520 N. Lakeview, should begin within the next six weeks or so, according to one of its new owners.

John Murphy, executive vice president of MB Real Estate, said a partnership involving a number of real estate investors and developers will soon begin work on the prime, three-acre parcel, which has already received city approval for a luxury high-rise condominium development. The partnership is led by RMI, a venture of Murphy and Peter E. Ricker, chairman/CEO of MB, a Chicago-based firm with extensive experience in commercial and residential real estate.

Murphy said his company, "Had an eye on the site for quite some time."

"It is clearly the best lot in Chicago," Murphy said, "and we just thought it was the perfect fit for what we were looking for."

The pair has assembled a team that includes an affiliate of the GE Pension Trust, as well as Charles P. Reiss, former executive vice president and managing director of the Trump Organization.

The GE Pension Trust affiliate, along with RMI, will provide the equity, while Reiss, who oversaw all pre-development activities for Trump International Hotel and Tower Chicago, will serve as a consultant to the developers.

Murphy said RMI will build, "Something adaptable to the community and marketplace."

"It will be something beyond what Chicago's luxury market has ever seen before," he said. "It's a huge undertaking. But I have every bit of confidence this will be a tremendous success."

The property's original developer, American Invsco, will remain in charge of sales, Murphy said. Although there had been deposits prior to the property's changing of hands, those had been refunded. Several people however, maintained interest, Murphy said, and a pre-sale registration program for buyers will be offered later this summer.

Murphy also said he will maintain what has been approved in the planned development, 325 units and 14 townhomes, although he may combine some units, which would lower the final unit count.

Alderman Vi Daley, 43rd, said she has met with MB and they have indicated that they do not anticipate asking for any changes. The alderman also said she will keep the community abreast of plans.

"I have made them aware of the community agreement which we expect them to honor," Daley said. "In the near future I will be arranging for the new development to meet with the community representatives that helped negotiate this project."

Gene Fisher, executive director of the Diversey Harbor Lakeview Association--which represents about 11,000 community residents--said his organization will, "Continue to hope for the best," and, "any judgments will be held in abeyance until sufficient details of the new Columbus project proposal become available for analysis."

"One thing hasn't changed," said Fisher. "It is beyond debate that the folks who live here are crucially important stakeholders in the Columbus project. They can be expected to keep working hard to make sure that the Columbus project is done right."

"It will be something beyond what Chicago's luxury market has ever seen before."

John Murphy

Last edited by BVictor1; July 8th, 2006 at 06:17 AM.
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Old July 9th, 2006, 10:50 AM   #102
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I read that article as well. I live a few blocks from this site and can barely wait to see a rendering for this project.
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Old July 9th, 2006, 04:20 PM   #103
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I also live in the neighborhood, and I've been watching this project for some time as well.

I visited the sales center of the previous iteration 2-3 years ago. The proposed building seemed well designed, although perhaps a bit more traditional in appearance than I would have liked. As for the asking prices, I had some sticker shock--about $1000 per square foot, which at the time was a threshold no building in Chicago had crossed. (Even now, I think it's just remaining units at the Trump tower and the proposed Fordham spire that are above that level.)

I'll be interested to see what the revamped building is like. If the prices aren't crazy high, it's a place I might consider living.
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Old July 13th, 2006, 12:46 AM   #104
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Commercial Real Estate News


New Owner Plans Days Inn Gold Coast Overhaul

By Dana Dubriwny of GlobeSt.com

Tuesday, July 11, 2006 - CHICAGO-WexTrust Capital, through its affiliate Gold Coast Investors, LLC, has acquired the former 221-room Days Inn in the Lincoln Park neighborhood from 1800 N. Lincoln, LLC. Following an extensive multimillion-dollar renovation scheduled to begin later this year, the hotel will re-open in the spring of 2007 with a new name and be operated as an independent boutique lodging destination.
According to WexTrust representatives, the hotel has disassociated with the Days Inn brand, and for the balance of 2006 travel season, the property will be operated as the Gold Coast Hotel. Once renovations are complete, the hotel will include 196 fully appointed guest rooms, a reconfigured lobby-lounge area, 2,000 sf of meeting space, a fully equipped fitness center, independently operated spa services, and a new restaurant concept. Interior design and architectural services are being supervised by locally based Gettys Group, and the hotel will be managed by locally based Portfolio Hotels & Resorts.

“This was an under-utilized hotel in a prime location that we felt offered an excellent redevelopment opportunity,” says Michael Kochevar, senior vice president of acquisition and development at WexTrust Capital.

WexTrust’s retail leasing division vice president Edward L. Dushman says the company has been approached by many high-profile restaurateurs inquiring about plans for the lobby-level lounge and restaurant area. “It certainly did not surprise us at all,” Dushman says, “when you consider our location, the property is at the nexus of the Gold Coast, Lincoln Park and Old Town.”

In addition to the Gold Coast Hotel, Portfolio Hotels & Resorts operates the 106-room Orchard Hotel in San Francisco; the 215-room Doubletree Hotel Los Angeles International Airport; the 285-room Ambassador East Hotel and Pump Room restaurant in Chicago; the 113-room Courtyard Cleveland Beachwood by Marriott in Beachwood, OH; and the 426-room Holiday Inn Select Naperville. Most recently, the operator was selected to manage the 86-room Orchard Garden Hotel in San Francisco; the 144-room La Quinta Inn and Suites and the 260-room Hilton Suites both in Des Plaines. The three properties are currently under construction.
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Old July 13th, 2006, 01:54 AM   #105
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Quote:
Originally Posted by Frumie
Commercial Real Estate News

New Owner Plans Days Inn Gold Coast Overhaul

By Dana Dubriwny of GlobeSt.com

Tuesday, July 11, 2006 - CHICAGO-WexTrust Capital, through its affiliate Gold Coast Investors, LLC, has acquired the former 221-room Days Inn in the Lincoln Park neighborhood from 1800 N. Lincoln, LLC.
Just as a little tid-bit, this Days Inn formerly operated as the Lincoln Inn. Some protest organizers stayed at the Lincoln Inn during the 1968 Democratic Convention. Their guest rooms were used for planning meetings for protests at the convention and for some press interviews.

Many protesters slept overnight nearby in Lincoln Park and then "commuted" down to Grant Park in the mornings to where the real action took place.
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Old July 19th, 2006, 08:36 PM   #106
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Deming on the Green
http://jameson.com/deming.htm


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Eco-friendly design including Geo Thermal heating and cooling system, increased natural day lighting, certified woods and low emitting carpets and paints
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Old July 28th, 2006, 06:22 PM   #107
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Lincoln Park



A partnership has purchased the Columbus Hospital property at 2520 N. Lakeview, the group recently announced. The site, a prime 3-acre parcel fronting Lincoln Park, has already received city approval for a high-rise condominium development.

The partnership includes RMI (a venture of Peter E. Ricker, chairman and CEO), John T. Murphy (executive vice president of MB Real Estate), the GE Pension Trust and Charles P. Reiss, (former executive vice president and managing director of the Trump Organization).

The seller is 2520 Lakeview LLC, an affiliate of Chicago-based American Invsco, which has been retained to perform the sales aspect of the project.

"The site is clearly one of the premier residential development sites in the country," Ricker said. "Given the location, the view perspective and the framework of the development plan, this is truly a unique opportunity to create something very special."

The partnership is reviewing all aspects of the project, and it will unveil its development plan later. "Other than the guidelines set forth by the city, our approach is that we're starting with a clean slate," Murphy said.

While plans are still being finalized, Murphy said preparations for demolition of the hospital buildings, which were shuttered in 2001, will begin almost immediately. The actual demolition will get under way later this summer, and a pre-sale registration program for buyers will commence at that time as well, he said.

"In the years since I've come to Chicago, this site has always been of interest to me," Reiss said. "It's an A-list site that has been coveted by a lot of developers."
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Old August 18th, 2006, 04:10 PM   #108
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Yup, I live in this neighborhood as well. Interesting to see what happens to the land.
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Old August 18th, 2006, 04:46 PM   #109
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St. Joseph Hospital expansion discussion

I live very close to this project, and have been watching it for the last 6-8 months.

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Hospital expansion plan is fair
Any development proposed for an already congested area is bound to be controversial, particularly if that congested area is along the lakefront. That's why the planned expansion of St. Joseph Hospital in Lincoln Park has dragged on for so long. After more than two years of community meetings, the hospital is finally ready to present a proposal to the Plan Commission today.

The hospital has won the support of the local alderman, Tom Tunney (44th). But some in the community still oppose the plan, fearing its impact on their homes and their neighborhood. While we sympathize with those fears, the plan doesn't strike us as unreasonable.

The hospital appears to have tried hard to minimize the neighborhood impact, particularly in the design of a new nine-story medical office building to be built on what is now a surface parking lot at Surf and Sheridan. Yes, the views from some nearby condos will be blocked. Yes, there will be an increase in traffic. But the views of high-rise dwellers are never guaranteed. And the neighborhood already is one of the most densely populated areas of the city, one that can likely absorb the impact of the hospital expansion without huge problems.

The hospital, which is investing $200 million in the project, also has promised to limit its parcels within the planned development to medical uses only, to allay fears that the parcels could be sold to a private developer. In addition, current zoning would allow for far more development than the hospital is proposing.

The expansion plans will never please everyone. But as Tunney argues, the proposal gives the hospital what it wants while locking in protections for the area.

Copyright CHICAGO SUN-TIMES 2006
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Old August 18th, 2006, 05:30 PM   #110
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^ There is a Lincoln Park development thread. This article would probably be better off there than having its own thread
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Old August 18th, 2006, 06:19 PM   #111
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..

Last edited by Loopy; June 20th, 2010 at 05:02 AM.
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Old August 18th, 2006, 06:55 PM   #112
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This isn't really Lincoln Park -- it's Lakeview.
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Old August 18th, 2006, 08:15 PM   #113
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Quote:
Originally Posted by BFA
This isn't really Lincoln Park -- it's Lakeview.
^ It has its own thread, too.
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Old August 18th, 2006, 10:12 PM   #114
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I was born at this hospital 27 years ago.
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Old August 18th, 2006, 11:39 PM   #115
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Thanks for the article, BFA, but it belongs here in the Lincoln Park Development thread, as TUP mentioned. I merged the two threads.
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Old August 19th, 2006, 12:01 AM   #116
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Quote:
Originally Posted by hydrogen
Thanks for the article, BFA, but it belongs here in the Lincoln Park Development thread, as TUP mentioned. I merged the two threads.
Nice move, Hydrogen, and congrats on your new status. BTW how does one locate the appropriate thread, especially one that has lain dormant for several months?
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Old August 19th, 2006, 12:14 AM   #117
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Quote:
Originally Posted by Frumie
Nice move, Hydrogen, and congrats on your new status. BTW how does one locate the appropriate thread, especially one that has lain dormant for several months?
Thanks. Unfortunately, without the search function, one must resort to simply digging around for the thread they're trying to locate. But you can also try searching for it using Google:

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However, one method that can be tried to search SSC is using Google. You can do so by going to www.google.com, placing the text "site:www.skyscrapercity.com" and then placing the text you wish to search. The result looking similar to this in your browser window.

Another method in which you can keep track of threads is by simply going to the blue "Thread tools" tab in a particular thread and click the "subscribe to this thread" option. You then go to your user control panel and you'll find a listing of the subscribed threads easily accessible.
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Old August 20th, 2006, 06:05 AM   #118
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Many thanks.
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Old August 21st, 2006, 03:59 PM   #119
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What is being built at the old Whitehall Nursing site?

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Old September 23rd, 2006, 05:12 AM   #120
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www.lincolnpark2520.com

By Lucien Lagrange...no design yet.
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