Wrigleyville Area Proposed Hotel Complex Update
Good for Tunney. This project is years away from completion. I'll keep you posted.Wrigleyville Ald. Tom Tunney (44th) said the developer hasn't made his case to the community. Steven Schultz wants to replace small retail buildings and parking lots on the south side of Addison Street with two buildings that would rise to 105 feet, about as tall as Wrigley Field's rooftop. The project is proposed for the block between Clark and Sheffield.
Schultz has said 105 apartments and a 137-room hotel, perhaps part of the Hyatt chain, would dress up the neighborhood. But Tunney said Schultz will have to come back with something more modest.
The alderman said he's concerned about precedent. A mid-rise building could become an excuse for taller projects. "We've got to be careful that 25 years from now the charm of Wrigley Field still includes a neighborhood," Tunney said.
This is a FanPost and does not necessarily reflect the views of SB Nation, Bleed Cubbie Blue, or Al Yellon, editor-in-chief. FanPost opinions are, however, valued expressions of opinion by passionate and knowledgeable baseball fans.
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Parking
I did notice a sign for a hearing to build a parking garage on Clark just north of Sheffield (next to Rebel Bar and Grill) for “parking for a hotel”.
Fukudometer: Created 3/31/08 Wrigley Debut 4/5/08 WGN and Japan TV Debut 4/6/08 Sun Times Debut: 4/20/08
by Fuk-U-Meter on Jun 25, 2008 9:29 AM CDT 0 recs
No, that's the "triangle building"...
... which actually will look a bit different than that once the Cubs build it.
The hotel would be on the south side of Addison between Clark & Sheffield.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 25, 2008 10:01 AM CDT
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how so?
is it because they aren’t putting any parking in it?
---AC 00 00 00 - Believe
by mjk83 on
Jun 25, 2008 12:19 PM CDT
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They ARE putting parking in it.
But it’s still a bit different than that rendering, which is several years old.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 25, 2008 1:33 PM CDT
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so what's going to be different?
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by mjk83 on
Jun 25, 2008 2:30 PM CDT
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It'll have the team offices in it, for one thing.
Which will allow the current office space to be vacated, probably for a fancy club for high-rollers.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 25, 2008 3:17 PM CDT
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I'm definitely with Tunney on this one
we’re losing too many of our neighborhoods as it is. Chicago does not have a great record in the development department.
We never give up -- Aramis Ramirez
by Emelie on Jun 25, 2008 10:41 AM CDT 0 recs
Frankly
I find what Tunney is doing to be a bit like blackmail. I feel like there’s an effort by local interests near Wrigley to try to really tamp down efforts by the Cubs and others to invest in the area, all in the name of “this area can’t take any more traffic or people, this is a neighborhood with working people, for crying out loud!”
I find that argument to be disingenuous. A ver large percentage of people who live near Wrigley are that for just that reason. I find the complaints of residents who complain (mostly mid-30s yuppies) about too much traffic, people, noise, to be similar to people who moved next to O’Hare and after being there for two years, start complaining about the airplane noise.
That isn’t to say there is some logical top end to development (no six flags amusement park at Halsted and Addison), but considering the amount of money that could flood into the tax base of the local area if projects like new bleachers, hotels, or any other type of expansion didn’t require thousands of hoops to jump through, would be enormous.
I lived near Wrigley for almost five years and find the complaints about Wrigley to be from a very small, vocal minority who probably shouldn’t have moved into the neighborhood if they don’t like the issues that are attendant with all sports stadiums.
/End rant.
*Synth intro to "Jump"*
by SouthsideCub on Jun 25, 2008 10:50 AM CDT 0 recs
Not a Chicago resident
however, your complaint about the folks that move to the area is the same everywhere. When I lived in Montana, the Californians that threw a blank check at Montana land complained of the ranchers carrying on, working the early morning hours etc. and here in Santa Fe, the same type folks are stopping the development of a patch of land NOWHERE near their million $ homes, another is a rancher who found oil on HIS 66,000 acre land and the rich do not want him to drill HIS oil, another lawsuit, of course.
I call these people OBLIVIONS, as they are oblivious to anything that doesn’t cater to their egocentric universe. They have NO value of the opinions, desires and needs of others. Only theirs matter.
by crazymountain on
Jun 25, 2008 12:11 PM CDT
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I believe some of the
issues are of economic fairplay. If you sold your run down building for the value of the lot to Schultz, the lot value would have been determined by the zoning regulations. Only so much can be crammed into a 3-4 story building, regardless of the number of lots aggregated, so only so much value associated with the land.
Schultz purchases multiple buildings and is now attempting a variance to allow him to push his building upwards, increasing his gain on the same lot. A gain not allowed to the previous owner.
With this precendent, it could really alter the value of real estate and rate of development around the park and dramatically change the neighborhood.
by N Oakley on
Jun 25, 2008 12:44 PM CDT
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This seems as good a thread as any to post this little nugget...
The Budweiser house on the corner of Waveland & Kenmore changed hands recently. Care to take a guess as to how much it sold for?
Remember this is a long house, with a little bit of a yard and a small garage. Goes from Kenmore to the alley, basically a 1/2 block of prime real estate overlooking left-center field. I’ll wait a bit and then post the number I heard.
Lou Brown: "My kinda team, Charlie, my kinda team..."
by ballhawk on Jun 25, 2008 1:26 PM CDT 0 recs
My guess: $1 million
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 25, 2008 1:34 PM CDT
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At least...
$3.5 Million…
I bet Bud pays over $500,000 a year to have thier name on the building alone.
With recent development of the rooftops, the opportunity cost of not developing that rooftop into a 200 plus seat roof probably costs then revenue of over $2,000,000 per year!
I bet that is at a solid profit of 30% and that $600k and multiples of 5 to 7 result in over $3 Million in value for that building.
Just my guess.
by BartlettBob on
Jun 25, 2008 1:39 PM CDT
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There's no way it could be that much.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 25, 2008 1:49 PM CDT
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well, if this were The Price Is Right, Bartlett Bob would be the winner because he came closest without going over
but then that would make me Drew Carey, and although I have the body, I can’t pull off the glasses and buzzcut look.
So Blackhawk24 is the winner. The number I’ve heard most often is $8.2M, though I’ve heard $8.3M as well.
The buyer is the same group that put up those two new butt-ugly bulidings on Sheffield, where the Red Top parking lot used to be. Probably safe to say we can expect similar type building once the Bud contract runs out – another year or so I think.
Lou Brown: "My kinda team, Charlie, my kinda team..."
by ballhawk on
Jun 25, 2008 1:57 PM CDT
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Would love to see that roof line somehow maintained
actually with the old WGN TV logo on it. However they could do it, with the “rooftop” seating below and in front.
That other bldg seating at Waveland and Sheffied looks cockide. It’d been nice to see the seats shifted 30-45 degrees to their right so they face the field directly. It’s almost like being a mirror image down the right field line at Fenway.
Sweet Lou for Mayor in '11.
by blackhawk24 on
Jun 25, 2008 2:02 PM CDT
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You don't want a massive set of eyes you can't ignore staring back at you from left-center field?!
Alan Trammell: Assistant (to the) Manager
by northsider on
Jun 25, 2008 2:22 PM CDT
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Eight million?
Amazing.
27 years ago, when the Tribune Co. bought the Cubs, you could have bought every building on both Waveland & Sheffield for less than that… and Tribco missed the boat by not doing that.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 25, 2008 3:18 PM CDT
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hindsight is 20/20
27 years ago would you have predicted that the rooftops would have turned into the big business that they are or that the neighborhood would become what it is?
---AC 00 00 00 - Believe
by mjk83 on
Jun 25, 2008 3:43 PM CDT
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It was starting to get that way.
A forward-thinking businessman might have.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 26, 2008 8:58 AM CDT
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you mean like Mark Cuban? ;-))))
Lou Brown: "My kinda team, Charlie, my kinda team..."
by ballhawk on
Jun 26, 2008 5:30 PM CDT
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Um, that's not who I was thinking of.
"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx
by Al on
Jun 26, 2008 8:22 PM CDT
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fair enough
im probably too young to be talking about how things were at that point of time in the neighborhood….
---AC 00 00 00 - Believe
by mjk83 on
Jun 27, 2008 9:09 AM CDT
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This does not bode well
The buyer is the same group that put up those two new butt-ugly bulidings on SheffieldWhich is precisely why Tunney’s right. Look what the money grubbing developers did to Wicker Park and Bucktown with those ostentatious McBoxes. I would hate to see the same thing happen to Wrigleyville, even though it prolly will. Still, I raise my fist.
We never give up -- Aramis Ramirez
by Emelie on
Jun 25, 2008 5:28 PM CDT
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Guess the politicians haven't had their pockets stuffed, yet...
Funny how – long before any deal between the Cubs and rooftops – every one of the rooftop owners easily got a zoning variance to build higher, much higher than their original building. The late, great Mr. Murphy along with his buddy, Mr. Hanson were famous for that.
Sweet Lou for Mayor in '11.
by blackhawk24 on Jun 25, 2008 1:42 PM CDT 0 recs
Add something else too
wouldn’t it be cool if one of the rooftops sacrificed seating or at least some of it and went in with the cubs on a jumbotron.
I know, I know…Wrigley should never have a jumbotron…but listen this isn’t in Wrigley, it’s outside
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by IvyOnTheWall on Jun 25, 2008 1:59 PM CDT 0 recs
im pretty sure that's the only way that you will ever see a jumbotron there.
since the rooftop owners are business partners you certainly won’t see one on the back of the bleachers or anything like that. Honestly, though it would suck to lose the Budweiser building cause that is a cool building, it would be neat if it was revealed that the Cubs bought the building and are rebuilding it and throwing a jumbotron up on top.
---AC 00 00 00 - Believe
by mjk83 on
Jun 25, 2008 2:30 PM CDT
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