Wednesday, September 14, 2011

The South Loop: A slow transition

Chicago's South Loop is fascinating in the diversity of elements present.  Here, around the corner from the Roosevelt station, is a derelict building condemned by the city and slated for demolition.

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The building to the immediate left is a historic building.  To the immediate right is an empty lot.  You can tell by examining the building on the far right that there once was a building where the empty lot sits.


The Roosevelt station is both a red line subway station as well as a green/orange line elevated station.  It is just a few blocks from Printer's Row and Grant Park.  Easy access to the main portion of downtown marked with the large A on the map.

On Michigan Avenue there is a vacant lot for sale.  Grant park is directly across the street.  As you can see it is in walking distance from the Roosevelt station.

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The parcel was scheduled for auction on July 27th, 2010 and the suggested starting bid was 9 million dollars.  It was previously priced around 33 million.

As a note of reference the dividing line between north and south in Chicago is Madison Avenue.  This area is no further south from Madison Ave as the upscale Streeterville is north from Madison.

I am obligated to observe too the way that the South Loop has developed.  The former mayor Richard Daley moved from his traditional neighborhood in Bridgeport to the South Loop.  So I don't want to give the impression that this is a down and out neighborhood.  It is a neighborhood that is slowly transforming into an upscale residential neighborhood.  If you look closely at the above picture you will see the balconies of the condos that are near this parcel.

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