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the_archfiendIt's funny how going up to Lincolnwood on a routine Saturday can clear some old fannish mysteries up so quickly.
Dunno how long the Forefront Properties signs have been up, but that brokerage is trying to peddle the very, very dead Purple Hotel. the old Suits 20/20 building next to it and probably that equally defunct office building on the northwest corner of Lincoln and Touhy as well.
My personal over/under for sale of this mess is two years' time; granted, it's a no-prize bet, but I'm assuming that a lack of commercial real estate credit liquidity and inaction/foot-dragging on the part of the former owners will make May 8th, 2012 a dull day for contractors in the area. There are still plenty (over 20!) of unoccupied - but still usable - office buildings out near where I work, so a combination demolition/new construction project starting at $28 million seems a bit...inopportune.
I still want a brick from that place, regardless.
Dunno how long the Forefront Properties signs have been up, but that brokerage is trying to peddle the very, very dead Purple Hotel. the old Suits 20/20 building next to it and probably that equally defunct office building on the northwest corner of Lincoln and Touhy as well.
My personal over/under for sale of this mess is two years' time; granted, it's a no-prize bet, but I'm assuming that a lack of commercial real estate credit liquidity and inaction/foot-dragging on the part of the former owners will make May 8th, 2012 a dull day for contractors in the area. There are still plenty (over 20!) of unoccupied - but still usable - office buildings out near where I work, so a combination demolition/new construction project starting at $28 million seems a bit...inopportune.
I still want a brick from that place, regardless.
