Remember the high rise that was slated for the corner or Leland and Clarendon? Well, there is sad news from "Sunrise Equities" who was developing this project...they have gone belly-up. Read all about it at "The Bench." Does anyone recall how the tan brick building directly to the north of this site was intertwined with this development? We had heard that it was to be converted to low-income housing, but why it appears to be completed and still sitting vacant after all this time is a mystery.Update: For more information, read the News-Star's "Where Is Salman Ibrahim?"
That's really no surprise, but sad news nonetheless.
ReplyDeleteI'm waiting to hear the same thing about the Theatre District Lofts. I find it hard to believe that all the units sold there at the exorbitant prices they are quoting, especially with so much more readily available on the market at lower prices. Only time will tell...
No way this development was going up once the market hit the skids. If a development doesn't already have 4 walls and floors constructed it is unlikely to happen at this point.
ReplyDeleteOh yeah. The blog you linked to is terrible. Non-sequiturs and absurdity from tip to tip. There are some liberal blogs that are equally idiotic in the blogosphere, but that is not a legitimate defense. The only legitimate defense for idiocy is low IQ. WWW.FACTCHECK.ORG
ReplyDeleteWell, The Bench scooped us in our own back yard....
ReplyDeleteIs this the development that was soliciting Irish citizens as investors? Or was that some other pipe dream?
ReplyDeleteAny word on the proposed high rise/parking structure/theater/grocery store at Lawrence and Winthrop? Is it dead too? I thought it sounded too good to be true.
ReplyDeleteI would say all construction will be stopped until the banks and credit markets are stable again.
ReplyDeleteWe haven't seen the last of the fall out from the over inflated housing market in the US.
ReplyDelete"If a development doesn't already have 4 walls and floors constructed it is unlikely to happen at this point."
ReplyDeletesame was true 3 months ago
investors are screwed but Shiller got hers
Sunrise Equities
6355 N Claremont
Suite 201
Chicago, IL 60659
$1,000.00 6/13/2008 Contribution to
Citizens for Shiller
Siddiqui, Muhammad
6355 N Claremont #201
Chicago, IL 60659
$500.00 6/13/2008 Contribution to Citizens for Shiller
I bet the checks to Shiller cleared
ReplyDeleteoops! missed one, sorry everybody!
ReplyDeletelooks like there was a party in Shiller's office Friday June 13, 2008
Leland Terrace Ltd
6355 N Claremont
Suite 201
Chicago, IL 60659
$500.00 6/13/2008 Contribution to
Citizens for Shiller
our fair City's ethics law cap contributions from those doing business with the City (which includes zoning changes) at $1500 (the "Golden Passport" level) every 6 months
disclosing your cash under several different names is a traditional dodge
moral of story: never hold your check-writing party for your new hi rise on Friday the 13th
ReplyDeleteButt, Fawad
ReplyDeletechief operating officer of Sunrise Development Group
6436 N Rockwell
Chicago, IL 60645
$250.00 7/10/2006 Contribution to Citizens for Shiller
3/29/06 amended planned development 655 introduced into City Council
ReplyDelete4/11/07 Lucien Lagrange-designed amended planned development 655 approved by full City Council
Lucien Lagrange coming to Uptown?
ReplyDeleteother moral of the story: if it sounds too good to be true, it probably is
Hey Miss Kitty,
ReplyDeleteI contacted Shiller's office a while ago about the movie theater on Winthrop/Lawrence. Mikhalia (sp?) was actually very nice and told me that the owners kept changing their mind. Originally, they wanted to build a 1200 seat theater, then 2400 seats, then 5000 seats. Since the 2 lane road (Lawrence) and the 1 lane road (Winthrop) could not handle that kind of traffic, the movie theater has been in limbo. It's likely not going to happen.
She said that they were still working with the developer on the parking structure and retail space. They weren't sure what it would turn into, but that was a couple of months ago, so I'm not sure if things have changed since then. Sorry to be the bearer of bad news, I was really hoping for a movie theater there!!!
Thanks for the update marathonman. Doesn't sound promising, but let's hope they can pull something off.
ReplyDeleteGee, wouldn't the Board of Elections be a little upset about this type of fraud being committed? $2,000 contributed by a developer using false pretenses sounds like a great story for the press.
ReplyDeleteJust a few days ago I posted what this intersection looked like a hundred years ago. Bummer that it will remain empty now.
ReplyDeleteI know the Theaters were never coming to Jim's project.
ReplyDeleteMore BS from our Alderman in Uptown.
They used the theaters to get it approved.
sorta like WY
ReplyDelete