Monday, September 23, 2013

Nick’s Uptown – Ald. Cappleman Seeking Landmark Status

Ald. Cappleman tweeted a reference to his website, and there we found some welcome news for many of us who love Uptown's Roaring 20s architecture:

"Recently, I learned that 4017 N. Sheridan Rd., home of Nick’s Uptown, was purchased by Thorek hospital.

I share the concerns of many residents about the potential threat to the future of this historic building, and I contacted the Historic Preservation Division of the Department of Housing and Economic Development to discuss options to save the building.

With my full support, the Historic Preservation Division plans to pursue Chicago Landmark status for this building. While my office and Landmarks will work with the property owner regarding any future changes to the property, this process does not require the consent of the property owner.

The Historic Preservation Division plans to present this proposal to the Commission on Chicago Landmarks before the end of the year. If Landmarks supports the recommendation, the designation will go the full City Council for approval, which will provide legal protection for the building against alteration or demolition. Any future building or demolition permits would then need to be reviewed by Landmarks.
UU Note:  An enquiring mind poked around the public records and tells us that the property sold for $2,700,000 -- quite a bit for Thorek to pay to let it sit, eh?  Nick's owner made a nice profit after buying it for $400,000 in 2000.


  1. Lets thank Ald.Cappelman for his efforts.Thorek has gobbled up real estate around these parts for quite some time., like some evil pac-man . And lets encourage Ald. Cappelman to continue to press city hall for more Po lice. The Houndry (across from the Sheridan Redline) was held up fri night .

  2. I just did a little internet research after seeing a comment posted regarding the sales price of this property.

    It sold for $2,700,000. Owner paid $400,000 for it in 2000. Paid off mortgage around 2004.

    I'm guessing the former owner's profits over the years made up for whatever money he put into renovating and maintaining the building.

    No mortgage, figure capital gains tax takes 20 percent of his profit between feds and state and he still likely walks away with well over 2 million dollars.

    Quite a nice profit and he saddled Thorek with a building that will likely be landmarked. Life is good sometimes. Somewhere Uptown trolls will be sad that the former owner did this well. However, the idea of the building sitting vacant will bring joy to their otherwise meaningless existences.

    1326122008 08/16/2013 09/18/2013 TRUSTEES DEED
    PIN(s) - 2
    PIN Prop. Type Condo Unit Num. S-T-R Sub Div-Condo Lot Block Part of Lot Building
    14-17-417-002-0000 S

  3. Are they prohibited from tearing it down while it's going through the landmark evaluation process? Otherwise this might just expedite things.