FYI: TIF for The 78 Cleared the Chicago Plan Commission Last Week

In case you missed it last week, the proposed TIF for the 78 cleared a major hurdle (via Crains):

The fate of two proposed tax-increment financing districts that would earmark as much as $2.4 billion in public money to fuel a pair of megadevelopments on the city's North Side and in the South Loop is now in the hands of the Chicago City Council.

The Chicago Plan Commission today approved the proposed TIF districts, meant to help finance infrastructure projects that would pave the way for developer Sterling Bay's $6 billion Lincoln Yards project along the North Branch of the Chicago River and Related Midwest's $7 billion vision for a mixed-use campus known as the 78 between Roosevelt Road and Chinatown.

The OK from the mayor-appointed board clears the way for both proposed TIF districts to potentially go before the City Council's Finance Committee and the full City Council next month. If both are passed, it would grease the skids for the developers to move forward with two of the most ambitious megaprojects in the city's history.

In case you're curious what the TIF may entail here you go:

In the South Loop, the proposed Roosevelt/Clark TIF for the 78 site could reimburse up to $700 million, with $600 million of that dedicated to public infrastructure projects such as new street grid, bridges and a new CTA Red Line station at the corner of Clark and 15th streets. The TIF budget also estimates as much as $400 million in developer financing costs.

"Tent City" in the Sloop Could be Shutdown

Some news on the tent city in the Sloop (via Sun-Times):

Advocates for the homeless community are concerned that a planned street cleaning scheduled for next week at the site of a “Tent City” in the South Loop could lead to the shut down of the encampment, which lies on state-supported property.

Attorney Diane O’Connell, of the Chicago Coalition for the Homeless, said she fears that the street cleaning — which comes after a shooting on the property — could be used to force the homeless population out of the grassy embankment along the expressway near the 700 block of West Taylor.

Marjani Williams, spokeswoman for the Chicago Department of Sanitation, confirmed that city workers posted signs this week announcing the cleaning.

City and state official wouldn’t say whether the homeless population would be pushed out of the area during Monday’s cleaning.

“The state should not punish people for being homeless,” O’Connell told the Sun-Times. “The people who live in this location are struggling and forcing them to disperse would cause further harm.”

1001 South State's Neighborhood Book Drive Starts March 2nd

Sponsored Post

Whether you want to put more positive energy out into the universe or you just finished binge watching a certain Netflix series that has you itching to "tidy up," you won't want to miss 1001 South State's upcoming neighborhood book drive benefiting Open Books.

In honor of Read Across America Day, the South Loop property’s book drive runs from Saturday, March 2 through Sunday, March 10.

"The South Loop neighborhood is a community that supports creative endeavors and innovative thinking - two values at the core of our culture here at 1001," says property manager Tracy Braun. "Partnering with Open Books is a natural fit for our residents and our neighbors.”

With a mission to provide literacy experiences for tens of thousands of readers each year, Open Books takes the donated books they receive and either gives them away through their literacy and book grant programs or sells them, using the proceeds to fund the organization’s literacy programs.

“Our residents include designers, entrepreneurs, art students, and more,” continues Braun. “We want to give back to the community in a way that helps the next generation of creative minds. We know that providing access to books is an effective and exciting way to do that."

To make your book donation, stop by the 1001 South State lobby anytime between 10 am and 5 pm on March 2 through March 10. The entrance is located at 1001 S. State Street between Bulldog Alehouse and Orangetheory Fitness.

Open Books welcomes donations of fiction, nonfiction, craft books, cookbooks, children’s books and more!

Ad Agency Becomes 4th Tenant at New Post Office

Looks like the new Post Office is getting its fourth tenant (via Tribune):

AbelsonTaylor is moving to Chicago’s former old main post office, giving the advertising agency room to add 100 or more employees.

The Chicago-based agency becomes the fourth office tenant to lease space in the 2.8 million-square-foot building that is being redeveloped by 601W Cos.

The riverfront behemoth at 433 W. Van Buren St. has been vacant since 1996, but it’s set to reopen as one of Chicago’s largest office buildings later this year. It is now called The Old Post Office.

AbelsonTaylor signed a 15-year lease for about 85,000 square feet, president and CEO Dale Taylor said. By March 2020, the agency will move from its current offices at 33 W. Monroe St., he said.

The entire building is 2.8 million square feet and with this lease they're now at 407K square feet leased.  So there is a lot of room left, although the article says the leasing agents are actively negotiating another 400K square feet of leases.

Will be interesting to see what other businesses make the move to the historic building.

#ShotsAroundTheSloop: Where O Where

New Megadevelopment Proposed for the Air Space over the Metra Tracks in the Sloop

Crains has the scoop on latest plans to build a super ambitious development over the Metra tracks west of Soldier Field:

Even as city officials weigh other proposed megadevelopment deals in and near downtown, a Wisconsin developer who played a key role in building Ford Field in Detroit and rebuilding Lambeau Field in Green Bay is pitching another: a multibillion-dollar plan to deck over Metra Electric rail tracks west of Soldier Field to build a mix of residential, office and retail space.

Several sources close to the matter say a partnership headed by Wisconsin executive Bob Dunn has briefed City Hall and other officials on plans, set to be officially unveiled next month, to build over 34 acres of Metra Electric tracks and storage facilities just west of South Lake Shore Drive, from McFetridge Drive south to roughly 20th Street.

Air rights to build over the tracks were acquired more than 20 years ago by developer Gerald Fogelson, who built the huge Central Station residential complex just to the north, south and east of Roosevelt Road and Michigan Avenue. Fogelson had hoped to develop the adjacent air-rights property himself as a sort of a Central Station 2.0, and as late as 2015 he was looking for a partner, describing then a $3 billion long-term plan with 3,000 apartments and 500 hotel rooms.

As the Crain's article notes, this isn't the first time plans like these have been floated.

While it would be great to have something cover-up the train tracks and presumably provide more/better access to Soldier Field and the Museum Campus, it seems like a highly challenging project - especially given all the other stuff popping up in the Sloop and city.

The article says that Alderman Dowell is planning to present the proposal at a public meeting on March 13th.  So we will see how far a long this thing is.  Stay tuned.

Manny's Cafeteria & Delicatessen Registers as One of Chicago's 20 Most Iconic Dishes

If you thought iconic Chicago food establishments, would you think any places in the Sloop would register?  According to Eater, we've got one - and it's probably not shocking:

11. Manny's Cafeteria & Delicatessen
Corned Beef Sandwich: Manny's is the stuff that legends are made of, so folks should sink their teeth into its famous corned beef.

Another spot that we wouldn't qualify in the Sloop, but is very close is:

12. Jim's Original Hot Dog (1250 S. Union Ave - just west of 90/94)
Maxwell Street Polish: While hot dogs get all the glory, the Maxwell Street Polish — a kielbasa topped with mustard, grilled onions, and sport peppers — quietly satisfies Chicagoans.

Rafael Viñoly Talks About "Framing" Grant Park with NEMA

If you're an architecture buff, you probably know Rafael Viñoly.  If not, that's ok because you're about to (via Curbed):

The building is almost topped off and it certainly is a looming structure over the neighborhood.  How it will look when it's finally done will be interesting.  One of our favorite things is the trees on each terrace.  We're curious to see if those actually happen.  Would be cool to have green elements that high up in the city.

Happy Presidents Day!

Amazon Spurns New York ; Emanuel & Pritzker Publicly Sell "The 78" as an Alternatve

Shocking news yesterday as Amazon officially broke up with Long Island City on Valentines days.  What's even more interesting is that our officials are eagerly and openly pitching "The 78" as the solution (via Crains):

Mayor Rahm Emanuel and Gov. J.B. Pritzker are moving quickly to try to take advantage of Amazon’s decision to drop plans to open a second headquarters in New York, asking the company to “take another look at Chicago.”

In a joint letter today addressed to “Dear Amazon,” Emanuel and Pritzker said whatever happened in the Big Apple, “We want to assure you that Chicago, our surrounding communities and the state of Illinois remain ready to welcome HQ2 to our city, and to ensure a smooth and successful transition and launch.”

The letter notes there is “new leadership the governor’s office” and asserts “new commitment to bipartisanship” supports economic development.

“You have seen firsthand that the Chicago area meets or exceeds your business needs,” the letter states, adding that since Amazon execs visited here last year, zoning and other approvals for its preferred site, the South Loop megaproject known as the 78, at Clark and Roosevelt, has proceeded and that groundbreaking is set “shortly after” final legislative approval in April.

Before you get to excited (or mad depending on your perspective), Amazon has said they have no intentions of re-opening the search (via Tribune):

Amazon said Thursday it will continue to build offices in Arlington, Va., and Nashville, Tenn. It also plans to continue growing its 17 tech hubs, one of which is in Chicago.

Since announcing plans to locate in New York City, the company has received backlash from some New York politicians, who were unhappy with the tax incentives Amazon was promised and the company’s stance on unions.

The company already employs more than 12,000 people in Illinois. They work at fulfillment centers, campus pick-up locations, the research and development tech hub, and other sites. Of those employees, about 300 work in the Chicago tech hub.

The company doesn’t know yet where the growth that was supposed to happen in New York City will move to, Amazon spokeswoman Jodi Smith said in an email Thursday.

“It will be organic,” she wrote.

Organic doesn't sound like a company looking to plop 25,000 jobs on a metro.  Additionally we imagine that Amazon doesn't want to go through such a controversial public spectacle like the one that unfolded in New York.  To be fair, they brought this on themselves, so don't go crying for the richest man on earth and his company that is incredibly valuable company.

But...there is a sliver of an opportunity here.  We'll see what happens.

A Look Back at Motor Rows History - from Cars to Records

The Suntimes recently had a nice write-up on the history of Motor Row and how the area has changed dramatically over the past century:

Chicago’s one-time automotive destination, Motor Row, hasn’t weathered time as well as its counterparts, like the Magnificent Mile or Jewelers Row, and the role the city once played in the American auto industry is also often overlooked.
“It’s been overshadowed by other industries — meatpacking, railroads, and steel,” said Peter Alter, a curator at the Chicago History Museum. “Many people don’t realize that Chicago was once filled with these elaborate palaces of automobile consumption in the post-World War I era.”

Detroit looms large in the American imagination as the capital of the car manufacturing world, but Motor City and Chicago’s Motor Row were inextricably linked for the first three decades of the 20th century. The automobile shopping corridor on the Near South Side was the industry’s largest and most prominent public face and helped rev up America’s love affair with the car.

The article gives a nod to the future, but that's not really the meat of this article.  Regardless, it's a good read if you're interested in the history of Michigan Avenue south of Roosevelt.

Chicago Officials Reach Out to Amazon in Light of Report that the Retailer is Reconsidering Plans in NYC

So you're telling me their is chance (via Chicago Tribune):

Chicago and Illinois officials reached out to Amazon on Friday in a renewed effort to win a 25,000-job campus that would serve as part of the tech behemoth’s second headquarters.
Gov. J.B. Pritzker called Amazon and made “a full-throated pitch” this morning, according to a source from his administration. A City Hall source confirmed the city reached out as well.

The move followed a report from The Washington Post, which Amazon CEO Jeff Bezos owns, that opposition from local politicians has caused Amazon to reconsider its plan to bring the campus to New York City.

Amazon has not yet leased or purchased office space for the campus in New York City, and final approval of state incentives is not expected until 2020, the Post reported.

Don't hold your breath, but at least there is a chance?

As a reminder, it was widely assumed and reported that Amazon was very warm on the South Loop's "78" site.

Stay tuned...

Totto's Market Coming to New Retail Space in the Heart of Printers Row

There has been a lot of discussion around the urban mansion being built at the corner of Dearborn and Polk.  One thing that was part of the mystery was what (if anything) was coming to the first floor retail space.

Well it appears we have an answer:

A reader also wrote:

Just found out Totto’s Market is opening in Dearborn and Polk this spring.

Link: http://www.tottosmarket.com/

From the owner via Facebook Hello South Loop:

My name is Scott Perin. I'm the owner of (soon-to-be-opened) Totto's Market.

I've lived in Printer's Row for over 14 years and I'm super excited to bring a neighborhood specialty market to the corner of Dearborn + Polk.

Totto's Market will focus on prepared meals to-go, as well as fresh produce, local bread/pastry, dairy, frozen, beer/wine, floral, and other surprises for you!

We plan to open in late spring. I invite you to sign up for updates at www.tottosmarket.com. I look forward to welcoming you (and all neighbors) to Totto's!

Fun Fact: Totto's is named after my father, Allen "Totto" Perin, who works for a small grocery chain in the northern suburbs. He's worked there for over 60 years!!

If done well, this could be a great addition to the neighborhood.  Looking to forward to seeing this one.   

(Hat tip: AD, RS, CD!)

#ShotsAroundTheSloop: Frozen Sloop

Make sure you scroll through the pics to see a frozen sloop!

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