West loop construction? (Chicago, Berwyn, Dolton: to buy, new construction, square footage)

[dtcbnd03]

Most of the money is on the north side of 290 too so it's natural for those neighborhoods to expand out with development as opposed to jumping over a huge dividing line of 290.

Also I've found that UIC and the medical district have a lot of large buildings that block the natural spill over from Little Italy to Tri-Taylor and limit the street level attractiveness or walkability of those neighborhoods.

[WestSideMillennial]

Originally Posted by G in MP

I love the idea of scrapers extending west, personally.

Yes, I second that! Bring all that development west up to where I reside in East Garfield Park.

[IronWright]

Fulton Market is just a completely unstoppable force at this point. The major proposal announcements and ground-breakings keep coming ad-infinitum. It has to be the hottest sub-market outside of NY in the U.S. This area is going to feel very NYC'ish with it's traditionally urban form and mixed-use programming. Chicago officials should be looking to Alderman Burnett as the example for how to approach development in a logical and ambitious way. Reilly, Hopkins, Waguespack, La-Spata etc. are all essentially super-Nimby's with veto power.

50-Stories-600' / 25-Stories & 10 Stories

https://chicagoyimby.com/2022/01/ren...west-loop.html



Future model by Lewis Garrison

[Don Cuccino]

Originally Posted by WestSideMillennial

Yes, I second that! Bring all that development west up to where I reside in East Garfield Park.

The development is already at Odgen and Ashland. If and when they build the CTA Damen Green line stop then youll see development pass Ashland. Once that happens it will spread like wildfire, there's tons of vacant lots. Ripe for the taking.

[dtcbnd03]

Amazing to see West Loop / Fulton Market continue to grow. Even more reason for the casino to go in as part of some megadevelopment around the United Center. Historically you could always count on the next El stop for real estate but not sure that's the case with remote work anymore. Damen green line stop will certainly help but more of a nice to have as opposed to a must have.

[BRU67]

Originally Posted by dtcbnd03

Amazing to see West Loop / Fulton Market continue to grow. Even more reason for the casino to go in as part of some megadevelopment around the United Center. Historically you could always count on the next El stop for real estate but not sure that's the case with remote work anymore. Damen green line stop will certainly help but more of a nice to have as opposed to a must have.

So do you think the West Loop will be immune to the work from home trend you've been referencing? If so why?

[dtcbnd03]

Originally Posted by BRU67

So do you think the West Loop will be immune to the work from home trend you've been referencing? If so why?

I was simply saying that with...for example...along the blue line it was very easy to see the next big neighborhood because the el was so important to getting into work. Literally it went wicker park to bucktown to logan square to avondale all because of the blue line and not because of the neighborhood amenities. When I rented to tenants they always asked "how far is the el stop?"

Now I'm heavily invested in the west side because the west loop construction, blue, pink, green, 290 and proximity to downtown are all weighing heavily in it's favor. The Damen green line addition will certainly help bridge the gap to the west side. But now with remote work I have to imagine a bigger portion are saying "Yes I want to live in the city...but do I really need to live near an el stop?" So the benefits of the neighborhood they live in are more important than public transportation. And in the case of the West Loop I think it's growing like crazy because of neighborhood amenities and urban density...and proximity to public transportation has become 3rd or 4th priority on people's list.

[BRU67]

Originally Posted by dtcbnd03

I was simply saying that with...for example...along the blue line it was very easy to see the next big neighborhood because the el was so important to getting into work. Literally it went wicker park to bucktown to logan square to avondale all because of the blue line and not because of the neighborhood amenities. When I rented to tenants they always asked "how far is the el stop?"

Now I'm heavily invested in the west side because the west loop construction, blue, pink, green, 290 and proximity to downtown are all weighing heavily in it's favor. The Damen green line addition will certainly help bridge the gap to the west side. But now with remote work I have to imagine a bigger portion are saying "Yes I want to live in the city...but do I really need to live near an el stop?" So the benefits of the neighborhood they live in are more important than public transportation. And in the case of the West Loop I think it's growing like crazy because of neighborhood amenities and urban density...and proximity to public transportation has become 3rd or 4th priority on people's list.

Ok thanks. I think we're going to ultimately end up going back to some kind of hybrid work schedules, which means at the downtown should still be somewhat vibrant. Just not like it was before the pandemic. And the West Loop has a lot of amenities.

I too think it would make sense to put the casino in that area, even though they're going to want to do a social justice thing and put it on the south side. You have to think of the overall city growth, because that is what provides tax dollars for all the social programs.

[dtcbnd03]

I wonder how much of West Loop construction is office space? And why are they building new office buildings when there's so much downtown office vacancy? Are the rehab costs more expensive than new construction?

A hybrid work model is inefficient hopefully employers have realized by now that employees do not want to be tied to an office location. Employees have the power right now and they're choosing secondary cities with amenities and cheaper cost of living and will quit if employers ask them to return to the office. Count me as one of those people.

I also don't understand what an employer gains with a hybrid model...you either have to lease the same square footage used 50% of the time....or you lease 50% of the square footage but have half of workforce show up M-T and other half show up W-TH. Why? Just use Zoom/Teams...or the upcoming metaverse.

[BRU67]

My last employer would not let us work from home at all and my current one, we are working from home, but we're going to be on a hybrid schedule soon. Many employers feel as though in-person contact among employees makes for more efficiency, and that is especially true when you have customers and other departments you need to interact with.

I don't know what your industry is but I don't think your preference will be the approach which the majority of employers ultimately take. Now, I fully agree with you that employees are now in the driver's seat. But I think once the benefits and savings run out, that is going to shift as well.

** We are only speaking of professional employees here because people in service and other industries have to go in to work physically. Ed.