Big news on the Roosevelt Road retail front as Chicago Real Estate Daily reports on a new development:Competition for retail tenants along Roosevelt Road in the South Loop may soon get a little tougher.For those who have been around for a little while you might remember the South Loop Commons, a similar type of development planned for this piece of land.The Bond Cos., a Chicago developer, plans to build a mixed-use project with about 200,000 square feet of retail space and as many as 460 apartments between Canal and Clinton streets just north of Roosevelt.
Retail development along the shopping strip has stalled since the real estate crash and recession, but many still believe it's only a matter of time before the area becomes the South Side's answer to the busy North and Clybourn retail district near Lincoln Park.
“We have lots of retail interest at the moment,” says Robert J. Bond, co-founder and president of the Bond Cos. The retailers already there “have been extremely successful.”
So what do you think? Will this happen? Is it good?
It was encouraging to hear that there was "lots of retail interest at the moment". However, if that was the case it seems like Roosevelt Collection would be full. Maybe it will be soon?
(Hat tip: AK!)
(Image from Chicago Real Estate Daily)
Nice idea. I hope it happens. But I don't see any way it will.
ReplyDeleteSounds good to me. Seems like this would be the only residential in this area, no?
ReplyDeleteand you thought the traffic is bad there now...
ReplyDeleteIt will happen, I know people associated with this project and there are plans to get this done ahead of schedule now that the wards have been re-mapped.
ReplyDeleteThis will be here by 2015, bank on it.
Steven
Looks good, hope it happens.
ReplyDeleteIsn't the some of the Roosevelt traffic due to the on-going work on Congress and interstate access there?
How about a book store? Oh wait, those don't exist anymore
ReplyDeleteI'd hate so sound negative but I'm just trying to be realistic.
ReplyDeleteThey can build it, but I don't see where the commercial tenants are going to come from. There is already so much vacant space that can't get filled and some in better quality areas of the sloop.
Start up businesses have a hard time getting funding and existing chains are conracting.
I'll believe it once I see the retail stores in Roosevelt Collection full. Aside from the movie theater the only action there has been the REMOVAL of retail space.
ReplyDeleteI really don't care about more retail in the sloop I'm more concerned with entertainment/restaurants/ and night life. This area has everything I need. I really don't buy anything outside this area accept maybe furniture. We have plenty of retail already. I don't understand the retail complaints.
ReplyDeleteMaybe this should be an Ikea.
ReplyDeleteIkea... not gonna happen. They were looking at Roosevelt/South Loop awhile back, but then they built the Bolingbrook store. Don't see too many Ikeas in city centers... the company seems to prefer suburban locations.
ReplyDeleteIkea is cheap junk that poor people buy and try and pass off as West Elm or Crate and Barrel
ReplyDeleteTruth Hurts, sorry
I was born and raised in Chicago and now live in the Sloop but seeing where this is being built, I have to say that I am finding myself spending a lot of time on Taylor street (just West of here) recently. Between Davanti, Three Aces, and Maple Leaf/Stax, and of course Mario's in the Summer, there is just a good feeling over there that I am getting, Davanti in fact is the first place that I bring out of towers and everyone loves Little Italy. I also hear that Flirty cupcakes is opening a shop across from Tuscany, really close to this proposed building. I would say this general area is really desirable. Its very close to the loop, the blue line, easy access to multiple expressways PLUS the whole foods, home depot, heck even Marshall's. Also, they have already started building the new Costco at Ashland just south of Roosevelt which is awesome. The possibilities are endless in this area since there is a lot of empty space. I can definitely see this becoming a hot area soon.
ReplyDeleteNeed more furniture stores for sure. Better stuff for babies & kids than Target/Marshall's. A bunch of high end outlet stores in the Roosevelt Collection would be unique & ideal.
ReplyDelete