ChicagoismynewBlog

Archive for May, 2009

Old Colony Building getting a bath for the first time in 200 years…

Posted by ChicagoismynewBlog! on May 31, 2009

A big thank you is needed for ArchitectureChicagoPLUS for its article and pictures on Chicago’s Old Colony Building.  I honestly thought the Old Colony Building was meant to be that dark black color but turns out, it’s actually a very light gray stone.  The difference between clean and unclean is disgusting, and I guess amazing all in one.  Take a look for yourselves!  I’ll have to take a trip down there to get a look in person.

What the Old Colony Building SHOULD look like...

What the Old Colony Building SHOULD look like…

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Posted in Architecture, Buildings, Photos, Printers Row | 1 Comment »

Condos out, boutique hotel in? New plans for 8 E. Huron.

Posted by ChicagoismynewBlog! on May 30, 2009

River North site facing foreclosure tries hotel plan

By Samantha Sleevi, May 28, 2009

(Crain’s) — Facing an $8.8-million foreclosure lawsuit on the site of his proposed River North condominium tower, a marketing executive and aspiring developer now says he has hotels knocking at his door.

Unfazed by the complaint filed by lender Geneva Capital Associates LLC, Paul Stanley says he plans to shift to a hotel in order to avoid losing the site at 8 E. Huron Street, where he first proposed a 28-story condo building in 2002.

Mr. Stanley says he’s in talks to sell the site for a hotel development, although he declines to identify the potential buyers.

He says he is confident he’ll sell the property this summer and settle the foreclosure case.

“I’m fully expecting to make a deal,” he says.

As the condo market started to slow down last year, “I started getting knocks on my door from hotel developers,” says Mr. Stanley, who owns event and retail marketing firm PS Promotions Inc., which until recently was housed at 8 E. Huron. “I’m trying to make lemonade out of lemons here.”

A big thanks goes out to Crain’s Chicago Business’ website Chicago Real Estate Daily for the article.  To view this article in full, check it out here!

Huron Club

Posted in Buildings, News Articles, Proposed Developments, River North | 1 Comment »

Free wine tasting with Belgravia Group’s Union Row Townhomes and Lush Wine & Spirits!

Posted by ChicagoismynewBlog! on May 28, 2009

What:  Complimentary wine seminar/tasting with Belgravia Group’s Union Row Townhomes and Lush Wine & Spirits!

When:  Tonight, May 28th from 7 – 8:30pm.

Where:  Union Row’s model home which is located at 644 W. 16th Street in Chicago.

Why:  Because it’s free, and there’s wine…what else do you need to know?!

Please feel free to invite your friends and family because everyone is invited.  If you have any questions or would like to RSVP to the event, give Union Row a call at 312-829-4600.  If you are unable to attend this month’s wine seminar, don’t worry, they take place on the fourth Thursday of every month at Union Row Townhomes.

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Posted in Belgravia Group, Events, Free Stuff, Union Row Townhomes | Leave a Comment »

Is Lakeview’s Broadway 3030 officially going kaput?!

Posted by ChicagoismynewBlog! on May 28, 2009

Controversial fund to auction former Dominick’s site

By Eddie Baeb, May 27, 2009

(Crain’s) — A $7.9-million loan on a former Dominick’s site in Lake View is turning into a sour deal for a controversial investment fund managed by developer Allison Davis and a nephew of Mayor Richard Daley.

The fund managed by Mr. Davis and Daley nephew Robert Vanecko is seeking to auction off a site at 3012-3036 N. Broadway Streetafter an apparent default on the mezzanine loan by a venture owned by little-known Chicago developers Michael O’Connor and Jonathan Zitzman, according to a recently published notice of public sale.

The developers planned a 53-unit condominium building and a bigger Dominick’s to replace a store destroyed by fire in 2005.

The auction comes just a couple months after news reports that Chicago’s inspector general is investigating millions of dollars in investments by city pension funds in the fund, called DV Urban Realty Partners L.P., according to news reports. The auction is to take place June 5 at the office of law firm DLA Piper LLP, according to the notice.

Messrs. Connor and Zitzman bought the site for $16 million in early 2007 through a venture called Broadway 3012 LLC from the founding family of Dominick’s Finer Foods LLC, the DiMatteos, according to property records.

The new Dominick’swould have been twice the size of the original 20,000-square-foot store. In early 2008, the developers refinanced the property with a $10-million first mortgage from First Bank, based in suburban St. Louis, and a $7.9-million mezzanine loan from Urban Broadway Mezz LLC — an affiliate of DV Urban Realty, which is run by Mr. Davis and Mr. Vanecko. Mr. Davis’ son, Jared Davis, is also a manager of Urban Broadway Mezz.

Dominick’s had a lease in place for the new development, according to property records, and there was a groundbreaking last fall, although work didn’t get far. The developers are holding out hope, however, and in a statement blamed the credit crunch for the project’s woes……

To read the rest of the article from Chicago Real Estate Daily, click here!

Man, I am trying to be optimistic that Broadway 3030 will still take place, even after the auction takes place but it doesn’t look promising at all.  Broadway 3030’s sales center has looked closed for some time and I just noticed that their website is shut down as well.  To be honest, a grocery store or some other major retail space would be amazing for this enormous, empty lot and it would be a shame to have the lot sit empty for any longer.

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Posted in Buildings, Lakeview, News Articles, Proposed Developments | Leave a Comment »

Blue and Green. Grant Park with Blue Cross-Blue Shield & 340 on the Park.

Posted by ChicagoismynewBlog! on May 27, 2009

I was walking through Grant Park on probably the nicest day of spring that Chicago has had so far when I came to a shaded area across the street from the Blue Cross-Blue Shield and 340 on the Park buildings.  This picture is the result.  I just think the colors turned out great in the picture and that’s about it…not trying to look that deep into the picture.

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Posted in Lakeshore East, Photos, The Loop | Leave a Comment »

New Roundy’s grocery and retail in Lakeshore East’s Village Market Center.

Posted by ChicagoismynewBlog! on May 26, 2009

Check out the complete Crain’s Chicago Business article on the development of Lakeshore East’s much needed Village Market Center which will include a Roundy’s grocery store and other retail spaces.

(Crain’s) — Roundy’s Supermarkets Inc. plans to open a full-service grocery store next year in the Lakeshore East development just northeast of Millennium Park.

Magellan Development Group hopes to break ground in about 90 days on this retail building in Lakeshore East, to be called Village Market Center. Roundy’s has leased 55,000 square feet in the building.

The Milwaukee-based grocer signed a lease this week for 55,000 square feet that Lakeshore East’s developer says will enable the firm to obtain a construction loan for a low-rise retail building planned for just north of the residential tower at 340 E. Randolph Street.

David Carlins, president of Magellan Development Group LLC, says he’s in talks with lenders for a roughly $40-million construction loan to finance the 140,000-square-foot building, which is to cost $60 million. Mr. Carlins hopes to get the loan and break ground in about 90 days.

The retail building, dubbed Village Market Center, has been in the works for several years for the 25-acre Lakeshore East complex, which will have more than 3,000 condominiums and apartments when a seventh high-rise tower opens later this year.

Roundy’s stepped in after Chicago grocer Treasure Island and Magellan nixed plans for a 27,000-square-foot Treasure Island store there. Roundy’s also signed a lease this week for a store in the Bronzeville neighborhood on the South Side and is pursuing another West Loop location after backing out of a planned development there……

Village Market

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Now, I am pretty sure the top photo is an old concept of what Village Market Center will be, but you at least get a good idea of what the building will look like.  Lakeshore East, and other residents in the Loop are in dire need of a grocery store within walking distance and this will be a great addition to the already amazing neighborhood.  Hopefully the new building will compliment Lakeshore East when completed.

Posted in Buildings, Lakeshore East, News Articles, Proposed Developments | Leave a Comment »

3,000 visits for ChicagoismynewBlog!

Posted by ChicagoismynewBlog! on May 25, 2009

Lately, ChicagoismynewBlog has been getting a great amount of hits coming in every day.  Today, ChicagoismynewBlog surpassed 3,000 hits thanks to everyone’s help.  Here’s to continued success and continued viewership!

Cake

Posted in Milestones! | 1 Comment »

So who dropped the ball on having a consistant paint color for Aqua?

Posted by ChicagoismynewBlog! on May 25, 2009

While perusing different message boards such as SkyscraperPage and SkyscraperCity, I noticed that some of Aqua’s top floors are a totally different color of white from the rest…and it sticks out like a sore thumb.  Even with this white elephant in the room, pun definitely intended, I still love how Aqua has turned out. 

Aqua is topped out at 80 stories, meaning it wont get any taller, but it still has some work to be done on the inside and the outside.  Aqua, a mixed use building whose sales center is located at 430 E. Waterside Drive, will have retail and apartments in the lower portion of of the building with condos on the upper floors.  The Fairmont Chicago intended to expand its hotel into the first 15 floors of Aqua but recently pulled out of the deal leaving a pretty large chunk of the building vacant.

For any questions regarding the sales of Aqua’s condominiums, give them a call at 312-493-8200.  For rental questions, call 312-278-2782.

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Posted in Aqua, Buildings, Construction, Lakeshore East | Leave a Comment »

Chicago’s newest wall of skyscrapers in the South Loop’s Central Station.

Posted by ChicagoismynewBlog! on May 24, 2009

Just below are the plans for three out of the four high rises, centered at Roosevelt Road and Indiana Avenue, in the South Loop’s Central Station masterplan.  The building at the far left, One Museum Park East, is now complete and rises 65 floors above Grant Park and the museum campus.  The building left of center, One Museum Park West, is currently under construction and will rise 54 floors when complete.  The two buildings to the right are current proposals that may eventually start construction but as of yet, there is no set date.  I am glad these Central Station buildings were able to start construction before the whole dramatic downturn in real estate because the two buildings create a nice wall surrounding the Southern end of Grant Park.  Plus, the buildings aren’t too shabby looking either…

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Posted in Buildings, Construction, Proposed Developments, South Loop | Leave a Comment »

Blue Cross Blue Shield expansion project in Chicago…almost complete.

Posted by ChicagoismynewBlog! on May 23, 2009

In case you couldn’t tell, Chicago’s Blue Cross Blue Shield building has been going under a major expansion project recently.  The original 33 story building was completed in 1997 and was built with expansion in mind, knowing Blue Cross would need more space in the future.  Now, with a completion date set for 2010, the Blue Cross Blue Shield building is adding 24 additional floors for a grand total of 57 floors.  I actually love the expanded look of the BCBS building which creates a nice wall surrounding Grant Park.  The original 33 story building always looked out of place and squat but not any more.

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Before...

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Posted in Buildings, Construction, The Loop | 2 Comments »