Tuesday, September 16, 2008

So Long, 'Pure2o' At Leland And Clarendon

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?"

21 comments:

  1. That's really no surprise, but sad news nonetheless.

    I'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...

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  2. 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.

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  3. Oh 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

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  4. Well, The Bench scooped us in our own back yard....

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  5. Is this the development that was soliciting Irish citizens as investors? Or was that some other pipe dream?

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  6. Any 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.

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  7. I would say all construction will be stopped until the banks and credit markets are stable again.

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  8. We haven't seen the last of the fall out from the over inflated housing market in the US.

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  9. "If a development doesn't already have 4 walls and floors constructed it is unlikely to happen at this point."

    same 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

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  10. I bet the checks to Shiller cleared

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  11. oops! missed one, sorry everybody!

    looks 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

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  12. moral of story: never hold your check-writing party for your new hi rise on Friday the 13th

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  13. Butt, Fawad
    chief operating officer of Sunrise Development Group
    6436 N Rockwell
    Chicago, IL 60645

    $250.00 7/10/2006 Contribution to Citizens for Shiller

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  14. Lucien Lagrange coming to Uptown?

    other moral of the story: if it sounds too good to be true, it probably is

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  15. Hey Miss Kitty,

    I 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!!!

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  16. Thanks for the update marathonman. Doesn't sound promising, but let's hope they can pull something off.

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  17. Gee, 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.

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  18. Just a few days ago I posted what this intersection looked like a hundred years ago. Bummer that it will remain empty now.

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  19. I know the Theaters were never coming to Jim's project.

    More BS from our Alderman in Uptown.

    They used the theaters to get it approved.

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