Forgive us for being excited by this new business on Broadway. We are not quite sure why this architectural firm chose this location, but its a welcome sight and we are definitely thankful for the addition. Check out MDT's website here.Update: Thanks to the research of "Hugh" we now know this interesting tidbit:
This building is technically owned by 4619 BROADWAY LLC and held in a trust at Bridgeview Bank, trust number 98116.4619. BROADWAY LLC is the limited liability company the Uptown Community Development Corp AKA Uptown United set up to conceal this real estate asset. Some may recall it is the former location of a used music store. Uptown United has owned this building since 1998 and has operated this building at a loss on its books ever since.
If you check out their website, you'll see they have a vested interest in the area, including the design of the now defunct Jane Addams Hull House Center for Arts & Culture and the redesign of the Bridgeview Bank building on the corner of Lawrence and Broadway. Note that they also have experience in the world of "affordable" housing. They're currently based a block north at 4753 N Broadway. They are not a new addition to the 'hood, unfortunately.
ReplyDeleteBret,
ReplyDeleteSo that would put their current location in the Bridgeview Bank building, correct?
UptownUpdater, you are correct... the 8th floor, to be exact. It will be nice to get them out of the midrise and on to the ground level with some frontage though. Every little bit helps!!
ReplyDeleteIt'll be nice if their new office's outside lights stay on during the night. That block of Broadway really needs some better lighting!
ReplyDeleteBeing an architect myself, I'll bet that there will be lights glowing from the inside of the office at all times of night. This is a profession with long hours.
ReplyDeleteThe new signage for MDT is at 4619 N Broadway, PIN: 14-17-209-011.
ReplyDeleteThis building is technically owned by 4619 BROADWAY LLC and held in a trust at Bridgeview Bank, trust number 98116.
4619 BROADWAY LLC is the limited liability company the Uptown Community Development Corp AKA Uptown United set up to conceal this real estate asset. Some may recall it is the former location of a used music store.
Uptown United has owned this building since 1998.and has operated this building at a loss on its books ever since.
Here are some recent loses reported by Uptown United on this building:
FY 7/03-6/04 $18,145
FY 7/04-6/05 $34,385
FY 7/05-6/06 $26,355
Not only is MDT currently a tenant of the 8th floor of Bridgeview Bank, but what's odd about Uptown United owning this building and operating it at a loss is that Uptown United is ALSO a tenant of the 8th floor of Bridgeview Bank.
Here are some recent rental payments paid by Uptown United for their space in the Bridgeview Bank building:
FY 7/03-6/04 $6,380 $532/mo.
FY 7/04-6/05 $6,687 $557/mo
FY 7/05-6/06 $7,412 $618/mo
Uptown United is a delegate agency of the City of Chicago's Department of Planning and Development, funded almost entirely by public contracts from DPD.
Suellen Long is president of Bridgeview Bank Uptown as well as the chairman of the Board of Directors of Uptown United. Uptown United is the contractor selected by the City of Chicago to spend the property taxes collected in the Uptown "Special Service Area" taxation district. Suellen Long's husband Charles is an SSA commissioner.
Many Chicago not-for-profits are struggling to pay an executive director, and perhaps rent some space, but very few could afford to operate a retail-residential building at a loss for very long, but Uptown United has manged it for a decade, thanks to the generosity of the property taxpayers of Uptown.
GuideStar
Uptonw United's building at 4619 N Broadway is located within the Wilson Yard TIF, so when this side of Broadway is developed Uptown United will be eligible for "relocation assistance," a new construction World Headquarters built for them at property taxpayer expense, like we did for Aldi's.
ReplyDeleteUptown United rents from Bridgeview Bank, operates a building at a loss a block away, and property taxpayers pick up the tab.
ReplyDeleteSuellen and Charles Long are campaign contributors to Alderman Mary Ann Smith and Rep. Greg Harris.
Suellen and Charles Long have their very own TIF project in the Bryn Mawr TIF, the Flourish Bakery ($276,560 subsidy) - Salon Echo ($343,875 subsidy) projects. Now you might think that a bank president might be the last person in the world to require public financing of their projects, but that would just show your lack of imagination about what's possible in Chicago.
Bryn Mawr TIF
Wow Hugh. That is very interesting. I suppose if Uptown United wanted to save taxpayer money they could have set up shop in 4619 Broadway or any one of the many vacant storefronts (new location of MDT) and then been in the thick of blighted Broadway. I guess they aren't in the business of saving taxpayer dollars.
ReplyDeleteI have a feeling if you dig deep enough in property records, llc's you would be surprised who really owns the properties in the blighted area.
ReplyDeleteA lot of insiders in the Machine of Uptown.
Just my opinion.
Hugh-
ReplyDeleteCan you find out who or what is financing the renovations in this building. They have done a total gut. Would be interesting to know.
Who do you think?
ReplyDeleteAs is often the case with not-for-profits who carry real estate assets, Uptown United has tapped their equity for operational funding, and so has relatively little equity in their building at 4619 N Broadway, except perhaps as a development site. The property is highly leveraged. Uptown United purchased the property on 7/17/1998 for $185K. Since then, they have taken out 4 mortgages collateralized by the property, all from Uptown United chair Suellen Long's Bridgeview Bank or its predecessor Suellen Long's Uptown National Bank. These are NOT refinancings, all of the mortgages are still outstanding.
7/15/1998 $100K from Uptown National
8/1/2003 $50K from Bridgeview Bank
8/1/2003 $100K from Bridgeview Bank
7/11/2006 $100K from Bridgeview Bank
That's not a typo, two separate mortgages were taken out on the same day in August, 2003.
Again, the only way a NFP can afford to behave like this is the generosity of taxpayers.
Cook County Recorder
I'm confused. How can someone take out 4 mortgages totaling $350,000 on a property worth at most $250,000. At most. Given the state of the financial market, i.e. subprime loans, etc., what bank would consider this financially responsible?
ReplyDeleteOn their disclosures to the IRS Uptown United itemizes their expenses for their building at 4619 N Broadway, but do not show any mortgage payments. They do declare some interest expenses:
ReplyDeleteFY 7/03-6/04 $6,168
FY 7/04-6/05 $5,503
FY 7/05-6/06 $5,203
GuideStar
This suggests the mortgages are being paid back interest only, and that the debt outstanding is the full $350K or more.
Further supporting our suspicion that the outstanding debt is approx. $350K is what we know of Uptown United's situation, a NFP funded almost entirely via contracts with the City of Chicago's Department of Planning and Development. It is difficult to understand where they would get money to pay down their mortgages. Money for mortgage payments would be a very unusual line item in a City contract or in a grant proposal.
Hello CHICAGO NEWS MEDIA!
ReplyDeleteWhy aren't you all picking up on this? Unbelievable.
From Bridgeview Bank's point of view they have $350K in liens against the property. With 1800 sq. ft. it works out to about $194/sq. ft. You're right, that's quite a bit better than the public got a few years ago across the street. But then again it's land on Broadway Ave on Chicago's north side in an up & coming neighborhood steps from a CTA station across the street from a spectacular new development. Being in the middle of the block means the block cannot redevelop without them. Being in a TIF means that the City is a buyer if no one else. Suppose you were hooked up & connected with the City, you might be confident you could get a $350K+ buy-out early in an eminent domain process.
ReplyDeleteLet me get this straight. Business Partners and Uptown United are the new Chamber of Commerce in Uptown. Suellen Long is chairman for Uptown United and this is how she does business? I would be horribly embarrassed if I were a member of The "Business" Partners. What a great example of shady back room deals and tax payer rip offs. Suellen Long and Business Partners must be so proud.
ReplyDeletethis might be a lot to ask for, but would it be possible to summarize this into the cliff notes version? there's a ton of info here that i think a lot of people might not fully appreciate the import of.
ReplyDeletei guess this is why a newspaper reporter would be useful, huh.
This firm seems to get alot of business in Uptown. Has anyone been by "The Leland" at Leland and Racine? The ground level space that is still vacant, but says some sort of art gallery is coming, has a "MDT" sign in the window.
ReplyDeleteI don't think Uptown United is "concealing" its ownership of the building, because on its previous website (the one before the name change to Uptown United), it was right out there that it owns a building with residential and retail. I've been aware for years that the building was owned by U.U., because I read it on the website.
ReplyDeletePlenty, if not most, companies create holding companies for the purchase of acquisitions (check with any lawyer or developer on this). It's not always to hide something.
I'm not defending Uptown United, because frankly I don't know enough about the ethics of what Hugh has dug up to have an opinion. But I do know that in the past, it's been extremely open about owning that property.
" ... on its previous website (the one before the name change to Uptown United), it was right out there that it owns a building with residential and retail. ... in the past, it's been extremely open about owning that property."
ReplyDeletehow about the current website?
Uptown United
can you please help me find any mention of their local real estate speculation on their current website?
thanks
"This firm seems to get alot of business in Uptown."
ReplyDeleteManske Dieckman Thompson
$250.00 6/15/2007 to Citizens for Shiller
$200.00 7/8/2006 to Citizens for Shiller
$200.00 12/15/2004 to Citizens for Shiller
$48.00 2/15/2007 to Citizens for Mary Ann Smith
$300.00 8/8/2006 to Citizens for Mary Ann Smith
$250.00 8/25/2005 to Citizens for Mary Ann Smith
$250.00 9/21/2004 to Citizens for Mary Ann Smith
$250.00 8/27/2003 to Citizens for Mary Ann Smith
Illinois State Board of Elections
No, Hugh, I'm not going to play your game.
ReplyDeleteI never said it was on the current website.
What I said was, when something is put out on a public website for years, I have trouble characterizing it as "hidden."
Period.
You can (and I'm sure you will and have) consider the ownership of the building "hidden." I don't.
Sorry, can't play conspiracy theory today. Maybe tomorrow.
Bridgeview Bank
ReplyDeleteSuellen Long, President
$500.00 6/11/07 to Citizens for Shiller
$25,000.00 3/15/07 loan to Shiller(!)
$1,000.00 2/12/07 to Citizens for Shiller
$500.00 6/15/05 to Citizens for Shiller
$1,000.00 8/30/06 to Citizens for Mary Ann Smith
$500.00 5/18/06 to Citizens for Mary Ann Smith
$1,000.00 9/2/05 to Citizens for Mary Ann Smith
$1,000.00 9/22/04 to Citizens for Mary Ann Smith
$30.76 5/13/04 to Citizens for Mary Ann Smith
$10,000.00 5/13/04 withdraw CD by Citizens for Mary Ann Smith (!)
$500.00 8/28/03 to Citizens for Mary Ann Smith
Uptown National Bank
Suellen Long, President
$250.00 6/6/01 to Citizens for Mary Ann Smith
Long, Suellen and Charles
8XX W Gunnison
$300.00 9/3/04 to Citizens for Mary Ann Smith
Long, Chip
4800-4812 N. Broadway
$500.00 6/19/02 to Citizens for Mary Ann Smith
4800 N Broadway LLC
$300.00 2/9/07 to Citizens for Shiller
$300.00 8/10/06 to Citizens for Mary Ann Smith
$300.00 5/1/06 to Citizens for Mary Ann Smith
$300.00 7/14/05 to Citizens for Mary Ann Smith
$250.00 6/6/01 to Citizens for Mary Ann Smith
Illinois State Board of Elections
"I have a feeling if you dig deep enough in property records, llc's you would be surprised who really owns the properties in the blighted area. A lot of insiders in the Machine of Uptown."
ReplyDeleteThe Longs own the NW corner of Lawrence & Broadway, wrapped around by the Uptown Theater to the north & west.
4800-4812 N Broadway, PIN 14-08-320-012
1200-1212 W LAWRENCE, PIN 14-08-320-014
These properties on the NW corner of Lawrence & Broadway are in the Lawrence/Broadway TIF in the 48th ward of Mary Ann Smith.
ReplyDeleteAnyone else notice the new MDT office in the Broadway/Leland affordable housing building? I wonder what all this expansion means...
ReplyDeleteMDT is the Official Build-Out Firm of Mary Ann Smith and Helen Shiller (R)
ReplyDeleteIn a previous post, we listed recent annual losses in the $18K-34K range incurred by Uptown United from their building at 4619 N Broadway.
ReplyDeleteEach year on their disclosures Uptown United includes the following note by way of justifying their ongoing operation of this building at a loss:
"Loss from the rent of a building being rehabbed to initiate economic development in the Uptown community as part of the organization exempt purpose."
GuideStar
Would you say this program has been successful?
How would you assess this building's impact on the economic development of Uptown over the last decade?
It's amazing how much money is invested in the status quo. People can actually make millions of dollars from blight and poverty. "Leaders" of Uptown, you should be proud of yourselves. But alas, the bell tolls for thee...
ReplyDeleteIn a previous post, we listed recent annual overall LOSSES in the $18K-34K range incurred by Uptown United from their building at 4619 N Broadway.
ReplyDeleteUptown United's expenditures on their building at 4619 N Broadway are much higher, partially offset by spotty rental income.
Expenses for 4619 N Broadway
FY 7/03-6/04 $50,455
FY 7/04-6/05 $59,415
FY 7/05-6/06 $52,470
Uptown United justified these expenses by claiming they were in service of their exempt purpose, a program to initiate economic development in Uptown.
In fact these expenses are $50K-$60K a year that could have gone to REAL programs to spur economic revitalization in Uptown.
Hugh said...
ReplyDeleteIn a previous post, we listed
There's more than one of you now? Or are you Queen Elizabeth?
Yes, there are more than one of us. Maybe hundreds more. We don't need Peter Fitzgerald to uncover this info. It's public record. It's just that no one has ever taken the time to shine the light on it. Thanks to people like Hugh, the burner is now set on high. People have been taking advantage of our community for 20 years. That is going to stop! Now!
ReplyDeleteOne way to assess an organization's values is to ask them or check their website and see what they say about themselves. For tax-exempt organizations, we have available to us as citizens a more objective methodology: we may look at how they spend their money.
ReplyDeleteFor an excellent introduction on how to use IRS Form 990 to learn more about nonprofit organizations, see the article How to Read the IRS Form 990 & Find Out What it Means written by Peter Swords, former Executive Director of the Nonprofit Coordinating Committee of New York (NCCNY), with the assistance of Victoria Bjorklund of Simpson Thacher & Bartlett and Jon Small, Executive Director of NPCC; supported by a grant from the Ford Foundation.
Executive Director salary
ReplyDeleteFY 7/03-6/04 $55,053
FY 7/04-6/05 $57,514
FY 7/05-6/06 $61,530
We can attempt to estimate a tax-exempt organization's efficiency at delivery value to a community from their disclosures.
ReplyDeleteProgram Services Expenses
FY 7/03-6/04 $27.047
FY 7/04-6/05 $12,796
FY 7/05-6/06 $50,178
What are these services?
Every year, Uptown United declares their primary exempt purpose to be:
"Support of area business and the neighborhood"
The disclosure forms ask:
"Form 990 is available for public inspection and .. Serves as the primary or sole source of information about a particular organization. How the public perceives an organization in such cases may be determined by the information presented on its return. Therefore, pelase make sure the return is complete and accurate and fully describes ...the organization's programs and accomplishments. ... All organizations must describe their exempt purpose achievements in a clear and concise manor. State the number of clients served, publications issued, etc."
And every year, Uptown United claims only:
"Support of the diverse business, residential communities and potential developers in the Uptown neighborhood of Chicago. Working to increase new business development and stabilize existing business by providing promotional and planning help."
The FY 04-05 disclosure mentions a "mural program."
Most ($16,560) of the $27K claimed to have been spent on programs in FY 03-04 was itemized as the nebulous "MOWD (Mayor's Office of Workforce Development) expenses."
Most ($40,998) of the $50K claimed to have been spent on programs in FY 05-06 was itemized as the nebulous "Grant expenses."
From their disclosures we see that Uptown United's priorities are:
ReplyDelete1. maintaining their building at 4619 N Broadway
2. paying their executive director's salary
3. as resources permit, unspecified economic development programs for Uptown