Return of the Project
Didn't Chicago spend tens of years and million of dollars tearing down the failed multi-story project buildings?
And now Conehead wants them back?
Mayor Brandon Johnson’s office is making good on its promise to not let the city’s record tax increment financing surplus interfere with transforming La Salle Street office buildings to residential use.
He announced four projects on Wednesday that he plans to formally propose for a combined $151.2 million in TIF assistance this spring. Johnson said the projects include a total of $528 million in investments.
The projects — including three shortlisted by former Mayor Lori Lightfoot — stand to create 1,037 new apartments with at least 319 projected to have affordable rents through TIF assistance. The affordable units would be reserved for tenants earning an average of 60% of the area’s median income, about $53,000 for a two-person household.
We're going to predict that this "record [TIF] surplus" will become a massive deficit within a few years as those businesses and properties currently paying INTO the fund flee the area.
The buildings up for "conversion" are:
- 111 W. Monroe St.
- 208 S. La Salle
- 30 N. La Salle
- 79 W. Monroe
Check back on our prediction ion a few years.
Labels: dumb ideas
posted by SCC at 12:03 AM
65 Comments:
Is Conehead reserving an apartment for the baby mama?
Location
Location
Location
Even thugs appreciate the convenience value of being so close to their favorite prey.
To watch, from high perches, no longer valuable for tossing out bottles and cans onto the passers by below, for victims' on the hoof.
To use smartass phone to communicate to the activity tasked thugs on the street.
To vanish into the soon to be bowels of their new digs.
No need to dash the mad dash to the subway, (cta subway), nor to hoppity hop into the back seat of that stolen hooptie, nay, thug cribs be just a quick thug dash away!
Just wait until all of those brand new condos that just got built start accepting a huge amount of Section 8.
Another huge nail in the Coffin of the City of Chicago.
What a fucking 🤡🤡🤡show
There goes downtown! What a brilliant idea! From having the shitheads running amok to them living there is a stage 4 for this city. May Chicago rest in peace.
The cost of poor people living downtown is insane. They might get the rent for next to nothing but what about the food clothing and other necessities. What kind of jobs are going to be available to them. The whole thing is insane. They can’t rent out the office space, they would take a major loss by selling the buildings. So what’s next rent it to idiots, weirdos and goofballs. Another failed attempt, by failing politicians who are destroying the city of Chicago.
The poor people will fit in, with their “NIKE” gear and $250 dollar shoes.
I have a friend who has a business in the loop. The business does services for hotels & condominiums in the loop, south loop, Mag Mile area. The friend said that since Covid these areas have really changed as a lot of the buildings are operating but not at full capacity such as the building where their office is. Prior to Covid there were a lot of people in the loop but not any more. He said Mondays and Fridays you can notice the lack of people. Also some of the restaurants don’t deem to be doing the business that they used to. Plus a lot more ne’er-de-wells in these areas.
More people more 911 calls.
It would be interesting to find out who owns those buildings.
Maybe they'll bring back housing special employment. I miss working Cabrini Green special, have a nice lunch in 018, do some shopping.
I was down there the other day. It's desolate. However, there are a few thriving businesses. Won't be for long. It will attract no right minded people for living quarters, cold, dark, dank and a view of a building across the way. Not what people want or desire in living quarters. The end is nigh folks, it's gonna get crazy.
Good times!
Who in their right mind would want to live in the loop hood rats and ghetto thugs creating chaos along with the homeless shaking their cups in one’s face and numerous shootings to boot wtf
This is all a scam. When this project fails this is all they need as an excuse to see failed project to house homeless, migrants, and low income people. 1000 units, with 300 used for low income? Who is going to want to live there. This is another socialist pipe dream he is sneaking through.
Pandering to the his fellow racist "communerty".
The perpetual welfare class that demands everything from the government or else its racist to deprive them of such.
Downtown will be left in ruins.
And of COURSE the names will be…….
Barack Obama Bldg.
George Floyd Bldg.
Black Lives Matter Bldg.
ANYONE who was abused by Burge Bldg.
All but the last bldg. are some of the populations biggest hero’s, the last is because the CTU, local news & any other cop hater spews out his name every chance they get. No wonder the yute hate da po lice Shitcago pubic schools teach about the racist CPD & Comm. Burge.
Now if Revund Jackson croaks before the bldgs. are actually named who gets tossed from the list for
Rev. Jessie “Operation Push & children out of wedlock” Bldg.
The ghetto coming to Lasaloe and Monroe streets. What could go wrong? Besides that!
History teaches us that men learn nothing from history. Yep, and leftist pols never learned cause and effect.
Bye bye business base.
Now, kees me you fool!!!!
You already have new ones in 016 across from station and at Lawrence/Austin. Make way.
I remember starting this job in the 90’s and no recruits went to 001. If you bid into 001 you need at least 20 years on. Now, 001 is no different than 007 or 011 it is a total shit show.
Nicer buildings, Cabrini Green comes back to town, but maybe these buildings will be used for all the illegal criminals the phone it will be beautiful. Buildings destroyed downtown is never coming back. It is a shit hole so you might as well continue the demise of a once great downtown area, right Brandon.
The final nail in the coffin for the business district. Now the BLM rioters won't have to travel far to destroy stuff. Do progressives ever think that maybe this is a bad idea.
With progressives, you can’t fix stupid!!
The buildings will be filled with trash.
Downtown will be an extension of Austin Englewood .. Detroit here we now .. downtown already ghost town on weekdays .. over 30% vacancy on MagMile .. Tourists will wise up after seeing Coneheadville .. go elsewhere
What Trib and Suntimes fail to note is that these four buildings will be permanently removed from commercial real estate tax rolls, excused from any real estate tax payments for years, and house low-income people, to turn Loop into a low-income residential neighbhorhood.
BJ will destroy "downtown Chicago Loop" in one term.
All that lost commercial real estate tax revenue will be replaced with additional residential tax revenue extracted/extorted from Chicago's north-side residential neighborhoods. Ask Kaegi, he'll confirm. Books must balance, in theory.
Meanwhile go check real estate tax delinquency rates in POC neighbhorhoods on south-side and west-side. Enormous uncollected real estate tax burden, year upon year, many millions of tax revenue not realized. NYC no longer puts tax liens on delinquent properties, and has seen its uncollected tax burden skyrocket since new lenient tax-collection program implemented; waiting for progressive Chicago aldermen to implement same.
500 gangbangers rammed into a building was fine when it was Cabrini Green or Robert Taylor because those buildings were stuck away in otherwise crappy places. Now they want to put them in the Loop. What could possibly go wrong?
The already often robbed Circle Ks and 7/11s will get hit even more often. These buildings are already emptied out. It's going to be a quick pump and dump, with the owners running as soon as the shoddy renovations are done.
So, 30 percent of the units will be ghetto. The Loop will die for sure, then. Just look at what "mixed income" has done for the former Cabrini area, if you can dodge the bullets.
Another desperation move by the blue gummed, camel tooth ignoramus as Chicsngos death spiral continues in high gear !
I was down there the other day. It's desolate. However, there are a few thriving businesses. Won't be for long. It will attract no right minded people for living quarters, cold, dark, dank and a view of a building across the way. Not what people want or desire in living quarters. The end is nigh folks, it's gonna get crazy.
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Well, it could be a pretty cool place if it was all market rate -- urban professionals love that "city" feel -- but now that they're filling it up with losers and gangbangers, forget it. It will just be another Uptown.
The mortgagees on these buildings are walking away from them. Banks will eventually foreclose and sell them for pennies on the dollar but no non- government buyers will be found. No one will be buying the municipal bonds and we become Detroit West!
Imagine getting hit with a can of creamed corn dropped from the 67th floor.
Welcome to the second coming of Detroit.
They rope off sidewalks during the winter when ice is falling off buildings. Now they will have to do it year round because of golden rain and flying canned vegetables.
If you build it, the parasites will come...
Low income housing at 208 S. LaSalle, right next to the Federal Reserve and has direct access to the Federal Reserves secure compound. Hey, what can go wrong.....
Worked in the deuce back when it was rolling. This is a bad. Bad. Idea. So of course let’s make it happen.
The Amazing Kreskin said...
I called it! I said the jet's would return once all the illegals started coming. Now we have decades of social problems to look forward to...aint life grand? For the next two decades or more, our government will be able to funnel "billions" of tax dollars to fund their "war on poverty" Who could have known? It's not like it has happened before, or has it? I can't wait until some power hungry, self righteous clergy decides to take on their case and declare injustice before the self serving media in this town! Phather Phfaker can teach him the way....
Remember all Sleepy Joe Biden had to do was finish building the wall, and secure the border. And we wouldn't have these problems at all...and he couldn't even bother to do just that.
Lol it would cost billions to convert all these former office buildings to residential. Then, they're just going to turn into gutted, burned-out, bug-infested no-go zones, just like the projects used to be. And NO ONE with any sense will go anywhere near them, just like the projects. At least then, all you'd have to do is raise all the bridges and leave the vermin to duke it out amongst themselves on their own little private island. Hmm...
They will look like the Chernobyl workers apartments after the meltdown disaster.
30 North Lasalle??? "First, kill all the lawyers..." (W. Shakespeare)
That low income housing will need to be cheap! Sounds like a job for the illegals.
"Affordable units." When a progressive calls something "affordable" get your checkbook ready, whether you want to or not.
Blogger Tombstone courage said...
The buildings will be filled with trash.
4/04/2024 07:55:00 AM
Along with no go zone of illegals with machete gangs in charge....
That's Not Ice Dropping off the Buildings in July.
2024 manners & sensibilities in 1940's Highrises.
Ah, the smells wafting about will be what a New Downtown Sinclair puts in his Novel.
Anonymous Anonymous said...
With progressives, you can’t fix stupid!!
4/04/2024 07:37:00 AM
With more taxes you can...DNC
If I was the owner of any of those buildings, I would seriously consider applying for a demo permit.
Then again, it would be far cheaper and easier to simply stop paying the taxes and mortgage and let it go to the bank or county.
208 S LaSalle is 1 block from the Federal Reserve building.
Sounds like a set up for 'Ocean's 20' (or whatever number they're up to).
He should move into one of these fine units, ala Jane Byrne.
I cant wait double Dutch right on LaSalle St and the Jessie White tumblers tumbling up and downstate St
This disaster is what Brandon dumb fuck wanted us to finance with his and Prickwinnie’s “Bring Home Chicago”
300 million wasn’t enough??
No sane copper used CHA building elevators. Imagine having to walk up 30/40 floors?
It's going to be a long walk up those stairs to get to a call. I don't think the "new kids" on the job today will be able to hang...
Every move made by politicals is a grift move.
Taxes = grifting opportunities galore.
As old school grifters are attritioned out of the grift by death, the new school grifters, having not a bit of common sense, grift every penny in any and every manner possible.
No longer practical in the old school ways, keeping the tax filled trough filled from generation to generation, these idiots drain the tax trough and complain that it is empty.
Tax money does not rain from the clouds of taxpayers.
Nor sprout from the blossoms of money trees.
Parasites have more common sense than these new school grifters.
Jock itch has more sense.
Time for me to open a liquor store nearby on the corner where you pay first then you get your bottle from the bullet proof turnstile and let's not forget to say I am a rev-run and open one of those mb churches, so I don't pay taxes. And gots to get a LINK card accepted here sign!!!!
Anonymous Anonymous said...
208 S LaSalle is 1 block from the Federal Reserve building.
Sounds like a set up for 'Ocean's 20' (or whatever number they're up to).
4/04/2024 01:49:00 PM
somebody stole 30 million cash in LA on easter Sunday
nice haul ocean style
For those uninitiated readers, media types, liberals, Democrats and other stupid/ignorant people take note, as this is your doing. If you voted for Democrats (like BJ), you now have your hand on the hilt of the dagger that's being thrust deep into the economic and financial heart of Chicago. It must be good to know you played an important part in helping ruin the downtown area. Now revel in the misery you caused for the next several generations.
Bring back the Cabrini Blacktop car.
Maing, dem 'vators ain't workin! Jus because some dumb muthafucka threw all dey trash down the shaft and the thing is jammed up at da 2nd flo... ya'll gotta clean that out and make them vators work!
I has da asthma and caint be walkin dem stinkyass stairs everyone pissin on... I just caint - dis is raycis and sheet....
Anonymous Anonymous said...
He should move into one of these fine units, ala Jane Byrne.
4/04/2024 01:56:00 PM
He should test the screens ala Hill Street Blues...
This disaster is what Brandon dumb fuck wanted us to finance with his and Prickwinnie’s “Bring Home Chicago”
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