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| Old picture of the old Courthouse at 1340 S. Michigan |
Just wanted to let you know that it came to my attention from a tavern owner in the south loop that two new bar/restaurants are coming to the neighborhood. Giordano’s is moving to S Michigan Avenue, thought to be between 16th-18th opening by Fall of this year. And Buffalo Wild Wings (BW3’s) is coming to the Roosevelt Collection.
And Big Box retailers are looking at the large parcel at Roosevelt and Clark (Rezko). The main anchor would be City’s first ABT electronic store along with a Lifetime Fitness and Kohl’s.
Ok, so let's start with the first one. There has been some chatter on our message board about Giordano's, but that it was coming to the old courthouse at 1340 S. Michigan. While the 1340 address seems to make more sense to us since that area gets a little more foot traffic, the courthouse doesn't seem to be anywhere close to inhabitable. We're not developers or builders, but it seems to us like that building needs a lot of work first.
All the other retail rumors in the email above are news to us. BW3's at Roosevelt Collection isn't very surprising. But anything to do with the Rezko lot would be big news.
For those of you out of the loop, we posted about a potential zoning change to the infamous undeveloped Rezko lot just South of Target and Roosevelt Collection back in mid-February. There has been a lot of chatter about it recently since it's such a huge, blank canvas that developers must be drooling about.
Chicagorealestatedaily.com provided some additional information on this just last week.
Can anyone corroborate any of these?
(Hat tip: MPM!)
25 comments:
I live at 1620 Michigan and I would be the happiest person alive if we had retail or a restaurant. Doubtful though because I've heard we are getting a storage facility put down there.... Yummy
Building anything EXCEPT residential south of Roosevelt & Clark would be an enormous error.
I HIGHLY doubt that Abt will add a second location. They have one HUGE location that does the third most electronics sales in the country...again from one location. I don't know what a second location would add, besides a LOT of expense to build and outfit.
#no big boxes in the sloop: why would building anything except residential be an error?
There's definitely something afoot at that (former) Rezko lot, but I agree, hope that it will include RESIDENTIAL in addition to retail. Also, would love for Wells to be extended south of Roosevelt (under the viaduct) and hook back up with the street grid.
A Kohl's would be amazing. I don't have a car so the one is Bucktown is really hard to get to. Fingers crossed this comes to fruition!
I have a feeling Kohl's is going to happen at some point. There's been too many rumors, and it fits with what's going on with the rest of the area. I think they're just waiting for the right spot. Since they always seem to build out on their own, this chunk of land would seem plausible.
ABT and Lifetime would be a homerun for the sloop. Kohls not so much.
Anonymous said...
#no big boxes in the sloop: why would building anything except residential be an error?
March 8, 2013 at 9:48 AM
Because we need more residents? Just a hunch.
I thought the rumor was Kohl's was moving into that new commercial development at Canal/Roosevelt, across from Whole Foods.
Expanding residential is the best option along the river and throughout most of the urban prairie lying south of Roosevelt between Clark and the river... with integrated parkland throughout.
Keep any retail at the perimeter along Roosevelt and the train tracks at Clark (although the local retail vacancy glut makes adding more square footage unrealistic).
Abt surprises me also. They've got a good deal with their one current store and for too many appliance retailers expansion has been the kiss of death. However, I'd be in hog heaven in Abt moved in, although my checkbook would be hard hit.
Kohls, of all things you want a fucking Kohls??? Wells to go all the way through??? WTF
Nordstrom Rack Plans South Loop Store
http://www.chicagorealestatedaily.com/article/20130308/CRED03/130309790/nordstrom-rack-plans-south-loop-store
We have seen construction crews at the old courthouse for the last 3 weeks. They seem to be gutting everything inside right now ... so something is definitely going on there!
Giordanos, Khols, BW3, abt. Is this the South Loop? Or Naperville?
And best buy and target and Home Depot and bed bath and beyond and world market and staples and marshalls. What's your point? Roosevelt road (and big box stores) is not a new development.
The is very little likelihood of any ground floor retail coming to the courthouse building any time soon. It is in poor condition and needs a full rehab (besides all the black iron that would be required for a restaurant install). Furthermore, it has some historic designations which would hinder any kind of signage that a restaurant would require. A more apt location on that block would be either the currently empty Arrow messenger building. Maybe the big space across the way at 1337 S Mich, but it's kind of small.
As for Rezko Park, the strip along Roosevelt as been marketed for retail for a while and that's what it will probably be. It makes more sense than residential right there because of traffic and access. Although the rest of it will probably eventually be residential, there are too many infil opportunities (i.e. empty lots or crappy buildings that can be knocked down) that make more sense for developers at the moment).
Happen to talk to the broker for the Enterprise Group that owns the NE corner of Michigan and 14th, late home of the quickly-departed Alain's. He said that they will be doing some modest build-out and had been waiting for some permits (which recently appeared on the door) and hope to open this spring. Sorry to say I forgot the name of the new place, but it was something like Mediterranean Grill or
Tap.
I'm glad I'm not the only one who's not thrilled by the idea of Kohl's. Those stores make Marshalls look super classy by comparison.
Personally, I think any retail development is good retail development in the Sloop. I wish people would stop being so damn picky about it. It amazes me that the majority of these NIMBY types are the homeowners who are underwater. More retail business creates a more desirable location, which increases demand for housing and thus raises property values.
I can understand and sympathize with the reaction people have when a new vet office, alain's type spot, and/or storage facility open as we have plenty of those, but seriously? C'mon, give me a break, this is great news for our neighborhood.
It does indeed suck to be an underwater homeowner in our fine neighborhood, but it's good to learn that retail -- any retail -- will fix it. Maybe Kohl's will attract enough business that we can have a Payless or a Family Dollar nearby, too. Dream come true.
Kohls will be a great idea! We need some sorta dept store here.
As a homeowner of 2 condos who has lived in the sloop for the past 7 yrs, I would eventually like to get a return on my investment. Shopping like Kohls, Target, Whole Foods etc is good for the area.....think about the Clyborn/Elston/Fullerton area. Yes, it's crowded and contested but the property value and neighborhood draw just east of there is high. Hopefully this will become the shopping Mecca for the people living in the Loop,, West Loop, South Loop, Hyde Park etc. Yes it will draw the south side riff raft just like the north shopping area draws some undesirables but that's life in the city.
There are now 2 red signs on the old courthouse saying "Giardano's coming".
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