Half of IOC Members Remain Undecided?

There is a lot of info out there about the Olympics, but Sports Illustrated has a good read that interviews various IOC members. The most interesting thing in the article is a quote from an IOC VP about undecided voters:

IOC vice president Chiharu Igaya said "many" IOC members are undecided and will choose only after the cities' final presentations Friday. "The four cities are now neck-to-neck," he told the AP.

"That final presentation, yes, it's going to be crucial," said Willi Kaltschmitt, an IOC member since 1988. He said he believes that half or more of his 105 colleagues remain undecided.

It's hard to believe this considering how long this process drags on, but if it's true we can see why Obama's presence is so critical.

It's also been fun to watch each city continue to jostle each other. In the SI article above, Madrid's VP called Rio's bid 'the worst'. In other silly news, Rio filed a complaint with the IOC about Mayor Daley stating that Rio would have issues due to the fact that Rio is hosting the 2014 World Cup. It's like little school girls calling each other names and tattling on each other.

In our opinion the biggest news in the Olympic Soap Opera is that Rio had to cancel a World Cup swimming event next month due to a lack of funding. Talk about bad timing, if you can't find funding for a minor international sporting event, how can you seriously be considered to stage the Olympics? Whether IOC members care about this is another story. Our guess is that Chicago, Madrid and Tokyo officials will be reminding IOC members of this during their schmoozing sessions.

Let the games (ie - Soap Opera) begin...

X/O Condo Hit With Foreclosure Suit

This has been in the making for awhile, but Chicago Real Estate Daily is reporting that the planned X/O Condominium (1712 S. Prairie Ave) has been hit with a $20.2 million foreclosure suit:

Caught by the depressed condominium market and the credit crisis, developer Keith Giles faces foreclosure on a South Loop property where he had planned a 479-unit condo project.

National City Bank has sued to collect $20.2 million from Mr. Giles and his partner in the development, Jerry Karlik, alleging that they defaulted on a loan for the site at 1712 S. Prairie Ave. Unable to secure a construction loan for the project, the pair simply ran out of time and options for a property that may now only be worth a fraction of the $13 million they paid for it in 2005.

Olympics Effect on Real Estate

NBC's website had an interesting article yesterday looking at the effect of the Atlanta and Salt Lake City Olympics on their local real estate markets. From the sounds of it, Atlanta has had more success than Salt Lake post-Olympics. However, Chicago's real estate market is much much different then either of those cities, so it's tough to get a solid comparison.

However, it's an interesting subject, because the thought across our city (and specifically in the South Loop) is that it would be a big boost for real estate throughout Chicago. We've also heard the theory that it would be negative because it would drive development and over saturate the market (again!). Although there is merit to both arguments, to us the benefit of the Olympics is the signal it will send about the cities intentions for the South Side of Chicago.

Although enhancements have already been happening in and around the Sloop, more emphasis would be put on capital and infrastructure improvements. Businesses, restaurants and shops would see this as their chance to jump on the bandwagon and take advantage of an emerging neighborhood.

Sloopers please don't be offended by this. We love our neighborhood as it is right now and we know you do too, but it ain't perfect. Improvements will happen eventually, but we're confident that the Olympics would speed up the process and in our opinion that's a good thing.

Chillaxin at M Lounge

Every so often you stumble upon something that makes you feel good and that was the case this past weekend in Sloop. After a solid dinner at Zapatista (we had some great Margaritas and a huge portion of Fajitas), we decided to get a couple after dinner drinks at M Lounge (1520 S. Wabash). We've heard great things about the place but for some reason have never ventured over to the spot.

We're definitely glad we did. Although it was relatively early and the place was pretty empty it allowed us a chance to chat with the incredibly nice bartender. He gave us his Martini recommendations, a rundown of the M Lounge's vibe and his thoughts on the South Loop neighborhood.

The general decor was what you would expect from a lounge; low sofas, subdued lighting and solid music gently playing over the speakers. The bar is impressive with any liquor you would want and it sure seemed as if there specialty was Martinis. We opted to test the Martini menu and was pleasantly surprised (although one of us isn't a huge Martini person). We went with a Orange Dreamsicle Martini which tasted as would be expected and the recommended Espresso Martini which tasted like a drink you would find at your favorite coffee spot. Both were solid.

For the second round we were intrigued but a little apprehensive about the 'Gummy Bear' Martini. We asked the bartender about his thoughts and he said it actually tasted like a gummy bear. Again, as advertised it tasted like the candy. Also, for those of you who are into presentations this drink was served with three gummy bears on a black toothpick, which was cute.

Men, if we just lost credibility due to you gaging on the 'cute' reference, please don't hold that against M Lounge. We promise you will like the place and the incredibly sexy picture of a half naked women in the Men's bathroom with a great rear.

Anyway, it's a great spot and something we will definitely be going back to. And if you're into music they have live Jazz every Tuesday and Wednesday and a 'jazzy type DJ' every other Thursday.

Circle Line Hearings

Chicago Journal posted that the CTA is holding three circle line community meetings this week. The closest one to the Sloop will be tomorrow evening in the University of Illinois-Chicago's Molecular Biology Research Building, 900 S. Ashland. A presentation is scheduled to start at 6:15 p.m.

Here is a link to old Sloopin posts about Circle Line issues.

Open Thread: St. Charles Air Line - 16th Street Train Tracks

A reader recently emailed us about information pertaining to the St. Charles Air Line (train tracks that run along 16th in the Sloop):

I was wondering if we could open a thread on the St. Charles Air Line that runs on 16th street in the SL. For a while now there have been rumors that the Canadian National Railway would be moving freight trains out to the E J &E line in the burbs. I know it has been a hotly contested issue...I am very curious to know where the plans stand, and I can't seem to find any information on-line about a potential timeline for transition or if the transition has been stalled, canceled etc. Thanks!

There was a mention of it in the Central Area Action Plan (last page of the link) where it said it would be converted into a 'recreational trail corridor connecting to the lakefront' but besides that we haven't heard anything.

Here is our last post on the topic.

Has anyone heard or read anything about this topic?

Transit Improvements With the Olympics?

It's been assumed that Chicago will receive vast transit improvements if Chicago wins the 2016 Olympics even though it is not explicitly stated within the official bid book. The Sun-Times looks at potential issues with the Olympics and transit improvements in an article today. They make it sound ominous, but we still feel like it's a slam dunk if we get the Olympics.

Shots Around the Sloop

Sunrise near the Planetarium, "The payoff for getting up at 5:30 am for a run..."

(Hat Tip: SB)

Obama Confirms Copenhagen Visit

The vote for the host city of the 2016 Olympics is just 5 days away and one of the final pieces of the puzzle finally was confirmed this morning. President Obama will be traveling over to Copenhagen on Thursday night to lobby for Chicago and address the IOC during Chicago's final presentation. Two weeks ago, it looked as if this wasn't going to be the case, however the president changed course and Chicago's bid backers have to be pumped.

The WSJ states that this could be Obama's successful going out party (that is if he is re-elected in 2012):

Obama wants the Chicago Olympics to top off his presidency in style. If he wins re-election, he’ll be handing over to a successor six months or so after the Games are held. By the summer of 2016 he will hope business is booming again and he can then present the Chicago Games as his crowning glory and a symbol of recovery on his watch.

He's got a ways to go before that will happen, but we could see this logic.

Anyway, this should be an interesting week for Chicago. We will do our best to keep you covered on interesting Olympic info.

YoChicago Checks Out Astoria Tower

The guys at YoChicago recently had a couple posts about places in the South Loop. They're reporting that the Roosevelt Collection's first phase has already leased 70% of their 170 units.

In other local real estate news they give updates on prices for Astoria Tower's (900 S. Wabash) studios, one-bedrooms and two-bedrooms. They also took this great video from the patio space for the penthouse units. Simply put...amazing views:

The Olympic Host City Voting Process; Rio's Empty Promises

As we wait to see if Obama is going to Copenhagen for the Olympic vote next week, there is a ton of articles about the race. Although most aren't new news, today we found a good read on ESPN that summarizes the voting process and offers some insight on conventional thinking:

Ninety-nine of the IOC's 106 members are eligible to vote in the first round (members from countries with bid cities can't vote while their candidate is still in contention).

The city receiving the fewest votes is eliminated after each round until one candidate secures a majority. The vote is expected to go the maximum three rounds.

Some members tend to vote out of sympathy in the first round, which can produce some surprises. The key to victory is picking up votes from the cities which go out.

If Tokyo were to go out in the first round, it is believed many of its votes would go to Chicago. If Madrid goes out, the consensus is they would go to Rio.

The last sentence is interesting and is something we just read for the first time. We think they're implying that Asian countries have less animosity towards the United States then European ones, but who knows.

Anyway, it's safe to say that experts are predicting that the race is between Rio and Chicago. At this point, if you don't know the criticisms of Chicago's bid, you must be living under a rock. However, we don't hear as much about Rio's negatives. Time magazine's website has an interesting article on the empty promises of Rio's 'successful' 2007 Pan American games:

Winning the 2007 Pan American games was considered a big, if sometimes chaotic, success for Rio. To triumph over rival bidder San Antonio, officials used the same argument that this was Rio's turn. To back that up they promised to transform the city with a new ring road system, something called a "via light" railway (presumably a light railway), a new state highway and 54 km of new metro line.

But none of the roads and not one kilometer of proposed metro lines was built. Authorities also promised to clean up the Guanabara Bay, the fetid body of water whose smell assails visitors driving into town from the international airport. Although hundreds of millions of dollars have been spent, the stench persists and the bay remains a stinking eyesore.

If you think Rio has it in the bag, read the article. Neither city is perfect...we're looking forward to the coverage next week.

(Olympic image from 121st IOC Session & XII Olympic Congress in Copenhagen website)

NBC Comes to Winestyles Thursday Shindig

NBC's local website has a segment called 'About Last Night' where they go to various places and events happening around town. Last night they came to sloop and hit up Wine Styles (1240 S. Michigan). By the looks of it they had a good time:

We've seen parties at Wine Styles (1240 S. Michigan Ave) where the beats from the live band were so intense that folks were getting down on the sidewalk. Thursday night's event was a more low-key affair, with a guitarist/vocalist creating a smoothed-out scene, but this small boutique wine store doesn't seem to have any problems packing them in. Every Thursday is "Try Before You Buy," an opportunity to sip from five different bottles. Manager/sommelier doesn't let you know what you're getting into before you sip, in order to dispel any pre-conceived notions you may have. Such as there's nothing fun to do in the South Loop on a Thursday night before 9 p.m.

They also have a video of the night. The Wine Styles segment starts at 1:25:
(Video from NBC)

Trump Tower Serves as Striking Backdrop on Wabash Avenue

Yes, the Trump Tower isn't in the Sloop but it still looms large over one specific street, Wabash. Anytime you walk north on Wabash, it's nearly impossible not to notice the Trump Tower in the distance.

Although we don't claim to be architectural geniuses, it still looks impressive to us (albeit not in our top 5 favorite Chicago Skyscrapers). Today, Blair Kamin (of the Cityscape Chicago Tribune blog) takes a look at the architectural attributes of the finished Trump Tower. He goes onto to say that the best view is from Wabash Avenue:

Indeed, this skyscraper is at its most convincing when it is viewed in fragments rather than as a whole, or from angles that conceal its bulk.

From Wabash Avenue, its sides seemingly sheared off by the buildings on either side of the street, the tower bursts into view — taut, thin and elegant. Like the Chicago Board of Trade Building, it takes full advantage of its unusual site, which makes it appear to rise from the middle of the street.

Although the picture to the right is taken further north in the Loop, a similar picture is seen when walking north on Wabash anywhere in the Sloop. Again, not the best skyscraper in the city but it helps paint a unique 'picture' that adds to the backdrop while walking around in our neighborhood.

(image from Chicago Tribune)

Burnham Scavenger Hunt Tomorrow

If you're into Scavenger hunts, think you know Chicago, and don't have plans tomorrow, you may want to get some friends and sign up for the Daniel Burnham Scavenger Hunt. The hunt starts at 11am tomorrow (9/26):

Let's test your knowledge of Burnham and of Chicago. Join the Daniel Burnham Scavenger Hunt, a city-wide hunt to uncover the life and work of Burnham.

This daylong scavenger hunt will have a total of three separate hunts do one, two, or all three to compete. The three hunts will take place in the Loop, the South Loop, and Hyde Park. Cars aren't necessary, though you may want to use bicycles or the CTA. You decide the order of your hunts. The overall winner must complete all three hunts.

Create teams of up to 4 participants. Registration fee of $20 per team.

Sign-up quickly here.