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Old April 29th, 2010, 01:12 AM   #41
jpIllInoIs
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Very nice pictures...NOW get on with it already.
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Old June 1st, 2010, 04:04 AM   #42
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No Promise of Safety conquers this building!

http://www.nopromiseofsafety.com/?p=1168#more-1168



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Old June 3rd, 2010, 05:47 PM   #43
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188 Randolph

The McDonalds was at 180 Randolph. 180 was supposed to be turned into a theatre and upper level boutique offices, but the city withdrew the TIF and booted the theatre tenant out of its prior venue. The theatre then left the city.

Also no matter how many times it is repeated nothing ever fell from the building. It was a BS red herring by Daley to divert attention from the ugly Soldier Field rehab and its cost. "Someone" who was never identified other than being a city employee said they saw something fall. The piece shown by the building commissioner on a TV interview which was supposed to have fallen had been tagged with spray paint and had previously been removed by contractors and set on the 30th floor roof pictures of its removal and the log of the same discredited the city's statement. Much later in the evening the city admitted that nothing had fallen but could have.

The prior owners offered to repair the tower portion for a $6 million TIF or they were going to tear it down which would cost 40% of that. The new plan is completely unfeasable commercially and just represents a bailout for the developer at taxpayer expense. The supposed land cost of $22 million is $12 million more than the developer paid for the building. They are flipping it to themselves and will pocket the $22 million. See the development plan here: http://www.cityofchicago.org/content...ityAptsCDC.pdf. The revenue of $6 million doesn't include any expenses to get to net revenue. It cannot possible support the debt.
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Old June 3rd, 2010, 08:03 PM   #44
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Quote:
Originally Posted by Cassius King View Post

Also no matter how many times it is repeated nothing ever fell from the building. It was a BS red herring by Daley to divert attention from the ugly Soldier Field rehab and its cost. "Someone" who was never identified other than being a city employee said they saw something fall. The piece shown by the building commissioner on a TV interview which was supposed to have fallen had been tagged with spray paint and had previously been removed by contractors and set on the 30th floor roof pictures of its removal and the log of the same discredited the city's statement. Much later in the evening the city admitted that nothing had fallen but could have.
.
I've thrown a "supposedly" in the writeup. I can't find any credible source for the story myself. However actually being up there you can see that the facade really is crumbling apart. A couple small trees are even growing out of the cracks in a few spots.

image hosted on flickr


image hosted on flickr


image hosted on flickr

Last edited by uliveandyouburn; June 3rd, 2010 at 08:07 PM. Reason: Added pictures
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Old June 3rd, 2010, 08:27 PM   #45
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^Thanks for sharing. I highly admire your roof hacking skills.
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Old June 4th, 2010, 09:34 PM   #46
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I almost dont care if its a taxpayer bailout. I just want this eye sore to be restored or torn down or something.
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Old June 6th, 2010, 07:00 PM   #47
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6-3



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Old June 8th, 2010, 06:24 AM   #48
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I don't agree with Chicagophotoshop, I love this building too much for it to be torn down, yes they do need to finish fixing but I wouldn't go as far as calling it an eyesore in its current state... just a little annoying....
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Old June 9th, 2010, 06:39 AM   #49
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^ There is no way in hell demolition should be an option. If anything, do some basic maintenance and hold it till the next boom.
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Old December 7th, 2010, 02:01 AM   #50
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From the Illinois Housing Development Authority's latest meeting:

Resolution re: Authorizing the Issuance of Not to Exceed $60 Million Principal
Amount of Multifamily Housing Revenue Bonds (Randolph Tower
City Apartments) Series 2010 and $25 Million Multifamily Housing
Revenue Note (Randolph Tower City Apartments) Series 2010

---
Executive Director Materre introduced Item 5 on the Agenda: Declaration
of Official Intent for Randolph Tower City Apartments.
Ms. Pecori stated that there has been presented to the Authority a proposal
for it to finance costs of the acquisition and rehabilitation by Randolph
Tower City Apartments, LLC and Randolph Tower Affordable City
Apartments, LLC, each a Delaware limited liability company qualified to
do business in Illinois (and each of their affiliates and designees), of a
multifamily rental housing development known as Randolph Tower City
Apartments and located at 188 West Randolph Street, Chicago, Illinois,
(the “Development”), and containing a total of 312 units through the
issuance of tax-exempt bonds of the Authority (the "Bonds") in an amount
not to exceed $80,000,000. The Authority declares its official intent to
issue the Bonds in an amount not to exceed $80,000,000 to finance costs
of the acquisition and rehabilitation of the Development, including also,
without limitation, related expenses, costs of issuance, capitalized interest
and reserves, and to reimburse such expenditures which have been already
made for the acquisition and rehabilitation of the Development, to the extent
allowed by the Internal Revenue Code of 1986, as amended, and the related
regulations. Ms. Pecori recommended the Members’ approval of the
Resolution.
A motion to adopt the Resolution was made by Ms. Davis and seconded
by Ms. Kane; the Resolution was adopted by the affirmative votes of
Chairman Newman, Vice-Chairman Davis, Ms. Kane, Mr. Kochan and
Ms. Telman.


Hopefully this is a sign that things will progress soon.
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Old December 20th, 2010, 10:24 PM   #51
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Quote:
Originally Posted by Northsider View Post
Parking lot? :-p



kidding, just kidding! (god I hope not!)
It was for a parking lot! I was very curious what they were doing with that spot, and I walked by Friday and saw it's a small parking lot with 2-3 rows of spaces.
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Old December 26th, 2010, 10:57 PM   #52
Jim856796
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Demolition of 188 West Randolph would be a big mistake, like when they tore down the Morrison Hotel.
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Old December 28th, 2010, 01:18 AM   #53
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12/27:



image hosted on flickr



Note the tree growing out of the rooftop terrace in the upper-right-hand of the pic.

Last edited by wrabbit; December 28th, 2010 at 01:48 AM.
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Old December 28th, 2010, 07:32 AM   #54
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^ Is that supposed to be there?
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Old December 28th, 2010, 08:17 AM   #55
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There isn't supposed to be any vegetation growing from any building (if trees are counted as vegetation). Now you want a rose growing from the concrete of this building?
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Old December 29th, 2010, 12:09 AM   #56
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I didnt know if there was a rooftop terrace or something up there.
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Old December 29th, 2010, 08:42 AM   #57
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12/27:


image hosted on flickr

Last edited by wrabbit; January 2nd, 2011 at 12:26 AM.
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Old January 5th, 2011, 07:13 PM   #58
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As a followup on my last post, a quick search shows IHDA issued about $50.5 million in bonds last month for this project.

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Old January 6th, 2011, 03:48 PM   #59
jpIllInoIs
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^ThatwillbeFantastic
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Old January 7th, 2011, 08:39 AM   #60
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Quote:
Originally Posted by spyguy View Post
As a followup on my last post, a quick search shows IHDA issued about $50.5 million in bonds last month for this project.

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