B12 Solipsism

Spreading confusion over the internet since 1994

Archive for the ‘randolph’ tag

Lawsuit Over billboard killed a Fulton Market hotel project on Randolph Street

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Arizona heat sounds good about now
Clear Channel billboard at 600 W Randolph St

John O’Brien of Chicago real estate website, The Real Deal reported back in April:

AIC Hotel Group is suing MCZ Development, saying the developer didn’t disclose an air-rights deal for a billboard when the two made a Fulton Market land transaction.

The failure cost the chain an opportunity to build a hotel, according to the suit.

AIC in December bought a parking lot at 600 West Randolph Street from MCZ for $7 million, with plans to build a hotel on the land, the lawsuit contends. But after the deal closed, AIC learned that Clear Channel had an air rights deal that guaranteed a billboard on the building next door would not be obstructed, the suit said.

The billboard deal runs through 2042. The suit claims MCZ didn’t tell AIC about the billboard agreement before the Randolph Street land deal closed, nor was the air rights agreement ever recorded with Cook County.

(click here to continue reading AIC Hotel Group | Randolph Street Hotel | Lawsuit.)

wow. As an interested observer of this parking lot, I was curious as to why nothing had been built here in the hot Fulton Market area, year after year. Perhaps this is this reason? Presumedly, Clear Channel could sell the rights to AIC Hotel Group for some fee, but perhaps they want more than AIC Hotel Group is willing to spend. 24 years, 12 months a year, how much revenue could one billboard generate? If Clear Channel got $5,000 a month1, that would be $1,440,000. If AIC offered Clear Channel $800,000 cash, would they accept it? I bet this is a solveable issue.

Kick Off Your Shoes…

As a parenthetical thought, I miss the website, EveryBlock, as I would have heard of this story before today…

Footnotes:
  1. a number I’m totally guessing at, btw []

Written by Seth Anderson

September 14th, 2018 at 9:49 am

Monday March Commute was uploaded to Flickr

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Chicago

embiggen by clicking
http://flic.kr/p/rHEhUf

I took Monday March Commute on March 23, 2015 at 08:46AM

and processed it in my digital darkroom on March 23, 2015 at 02:52PM

Up to 5 inches of snow to drop during rush hour – Chicago Tribune: “Spin-outs and near white-out conditions slowed the morning rush Monday as a burst of spring snow hit just in time for the commute and could bring as much as 5 inches of snow in some parts of the Chicago area.”

(Via.)

Written by eggplant

March 23rd, 2015 at 9:08 am

Needed Somewhere To Go was uploaded to Flickr

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jogger, underpass, W. Randolph St.

Solarized in Photoshop

embiggen by clicking
http://flic.kr/p/nL1WyW

I took Needed Somewhere To Go on June 20, 2014 at 01:11PM

and processed it in my digital darkroom on June 20, 2014 at 09:15PM

Written by eggplant

June 21st, 2014 at 9:33 am

Waiting For Your Next Move was uploaded to Flickr

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Soon to be covered by a rather large office tower and surrounding park

(renderings here; scroll down: http://ift.tt/ICMv59… )

embiggen by clicking
http://flic.kr/p/iedQHi

I took Waiting For Your Next Move on November 30, 2013 at 03:26PM

and processed it in my digital darkroom on December 10, 2013 at 01:54PM

Good morning West Loop was uploaded to Flickr

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6:30 is earlier than I like to get up…

Shot with my Hipstamatic for iPhone
Lens: John S
Flash: Off
Film: Cano Cafenol

embiggen by clicking http://flic.kr/p/btKfUK

Good morning West Loop was taken on February 14, 2012 at 06:36AM

Written by eggplant

November 22nd, 2012 at 1:15 am

Snow Day 2012! was uploaded to Flickr

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Snow Day 2012!

Hipstamatic / Snapseed snapshot, West Loop, Chicago.


update: a couple thoughts about this photo being Explored
www.b12partners.net/wp/2012/01/21/snow-day-explored/

embiggen by clicking http://flic.kr/p/bfVjWr
Snow Day 2012! was taken on January 20, 2012 at 08:23AM

Written by eggplant

October 15th, 2012 at 4:54 pm