Grant Park during Lollapalooza

Here is a link to some amazing shots from the crane on top of Trump's new tower. Below is a great one of Grant Park during the Lollapalooza weekend. You can also see some great shots of the South Loop at the top right.

Chicago Is Segregrated, Big Surprise

For most of us who live in Chicago and have been to different neighborhoods, won't be surprised to read that Chicago has been classified as the most segregated city in America according to the Tribune.

The article essentially says that the North side is white, the West and South side is Black, and the Northwest and Southwest sides are Hispanic. Yes, this is a generalization, but overall this is probably accurate.

It's an interesting read, especially for those of us who live in the South Loop. The reason we say this is because much of the South Loop is a new neighborhood. The article makes the point that newer cities with a "blank slate" (ie San Jose, Austin, Phoenix) usually tend to be more racially integrated and older cities (ie Chicago) tend to be more segregated.

Since the South Loop neighborhood could fall into the category of "blank slate" we feel that our neighborhood is more integrated. However, this point could be argued.

Olympic Village - More Info

New article from the Chicago Journal about the city and the Olympic village. Not a ton of new information, but regardless some more detail for those of us who are interested in the progress of this site.

What is the Vietnam Veterans Art Museum?

Well it's located in our fine neighborhood (1801 S. Michigan Ave.), but I've never really understood it's purpose. With that said, I've embarked on a quest to figure it out. According to their website:

The National Vietnam Veterans Art Museum inspires greater understanding of the real impact of war with a focus on Vietnam. The museum collects, preserves and exhibits art inspired by combat and created by veterans.

Pretty specific focus and pretty interesting concept, but I doubt I'm going to go...sorry just not my thing. If you're not a member of the museum then it costs $10 to go for adults and $7 for students. Enjoy, but go soon because the Chicago Journal just reported that the museum is eventually going to move since it can't afford the space. The city is going to take over the land and convert it into a field house to serve the prairie district and the greater South Loop neighborhood.

What does this mean? Well it's not completely decided yet, but the neighborhood was surveyed and said it would like arts and educational activities, sports and exercising space and potentially even a rock climbing wall...yes a ROCK CLIMBING WALL! Just what the neighborhood needs.

So in all seriousness, if you're intrigued by the Vietnam Veterans Art Museum I would suggest you go sooner than later. Or you will have to go check it out at it's new location...which hasn't been decided on.

Alderman Appprove Olympic Village Deal

The cities alderman today agree to an $86 million deal for the city to buy the Michael Reese land for the proposed Olympic village. Early in the week they demanded that the city give more minorities contracts associated with the Olympics, but this seems to be lip service. At the end they voted 48-0 in favor of the deal.

If you read this article on the Chicago Tribune, please read the user comments as well, pretty entertaining. Not one positive comment...but that's too be expected given the current economic climate. The governor's corruption case also puts a spotlight on the bid and make people pretty skeptical and cynical about any government program or action.

A True Local Market

Yes, there are a lot of good, large grocery stores in the South Loop (Jewel, Dominicks, Whole Foods), but one thing they lack are character. If you like friendly people, quality products and all things Italian, then Panozzo's Italian Market is right down your ally.

Although it tends to carry higher end, pricey products it's usually worth it. They have a variety of pastas, sauces, drinks and various other things. Probably the best thing about the place is the deli, which has freshly cooked dishes, various meats and cheeses and as I mentioned before, friendly service.

My personal favorite at Panozzo's are their sandwiches, which are fresh and large. Although some of the chain's claim to have great deals, I still believe that Panozzo's has the best deal in regards to what you get for the price. Sandwiches range from $6-$8, but they're large and have much superior ingredients then any of the changes.

Lastly, the people are super nice. Every time I go in they're warm, respectful and seem to genuinely appreciate my business. The same can't be said at Jewel...

2016 Bid Would Generate $22.5 Billion in Economic Activity

Calif.-based Tootelian and Associates found has concluded that if Chicago wins the bid to host the 2016 Olympics, it could generate $22.5 Billion in economic activity for the city, state and region in the 2011-2021 time frame.

This far exceeds the cost to put on the Olympics which is being estimated at $4.7 Billion. However, many skeptics will point out that estimates are purely estimates in Chicago. Look at other major public projects (Millennium Park, Soldier Field, etc.) that were late and way over budget.

The other suspect thing about this $22.5 billion number is that the study seems to have been funded by the 2016 bid. So one would think the numbers would support the bids intentions.

USA Today on the US TV Rights Negotiations

USA Today goes into more depth about the negotiations for the Olympic US TV Rights:

They sum it up well:

TV profits are, of course, largely a product of advertising revenue, and all that money is the backbone of the Olympic movement's financial statement.

TV rights made up 53 percent of the IOC's revenues from 2001-2004, and the percentage figures to be around the same for the four-year period ending in 2008. NBC paid $894 million to televise this year's Beijing Games, more than double what the European Broadcasting Union paid to televise the games to the entire continent. Chinese television, meanwhile, paid $7 million.

Given its huge financial stake in the games, NBC negotiated with Olympic organizers to move some high-profile swimming and gymnastics events to the morning in China so they could be televised in prime time in America.

Although such an arrangement might be possible if the Olympics go overseas again, most signs point toward American bidders paying more to televise an Olympics on their home turf, where scheduling changes would not have to be made and where the hype would be more easily felt.

More Information About the Olympic Village Real Estate Deal

Today the Chicago Tribune has more information about the proposed Olympic Village Real Estate Deal and how it differs from the original.

We still get caught up when we read that the seller (Medline Industries Inc.) will give a "charitable" donation to the city. It all smells fishy...but I guess that's to be expected in Chicago these days.

Museum Park One Update

Museum Park One has become the corner stone and symbol of the South Loops recent boom, however the building isn't even completely done. Yes, people have started to occupy the building, but the developers won't be putting the finishing touches on the building until early next year.

According to YoChicago 64 original units are still on the sale block:

Most of those are priced above the $1 million mark, but there are a few two-bedrooms left in the low $800s and even a single 955 square-foot one-bedroom priced below $500,000.

There are also currently 22 units that are being sold through brokers and 20 units available for rental.

Office Depot Closing Store at Southgate Market

We all know the economy is bad and it looks like it's effected another big box retailer in the South Loop. According to the Chicago Sun-Times, Office Depot is closing their store at the Southgate Market Mall (1101 S. Canal). They are closing 15 stores throughout the Chicagoland area and 112 nationwide.

This is the second big tenant in this complex to close its doors (Linens-n-Things being the other). It's an interesting development considering, Best Buy and Bed, Bath and Beyond just opened huge new stores caddy corner from this complex.

Also of interest is the Roosevelt Collection which is said to have upwards of 1Million square feet of retail space. Although it's not open yet, it looks like it's on pace to open sometime next spring/summer.

There could be a lot of big retail vacancies on the market next year.

Follow-Up: IOC to Postpone Negotiations about US TV Rights

Lots of Olympic news today...

As we posted earlier this week, the IOC has now said it will postpone negotiations for the US TV Rights. Again, this could be beneficial for the Chicago bid because the conventional wisdom goes that potential bidders (NBC, ESPN and FOX) would pay more for the rights if the Olympics were held in their primary national markets.

The IOC's top TV negotiator was quoted in the article by gamesbid.com and also sees this as potentially beneficial for the IOC:

He added that knowing the host city could be an advantage in negotiations, especially if Chicago won. "It could, as this removes some of the uncertainty and could work to our advantage".

The question then becomes, will the IOC members who vote on the bid city be swayed by this news? If Chicago gets the 2016, the IOC could stand to make more money...

What Not to Say When You Want Help From Obama

According to the Chicago Defender, a couple local groups are trying to get President-Elect Barack Obama to help in their attempts to move the site of the proposed Olympic Village. Here is a word of advice to them, don't say things like this:

“It’s bad enough all these white folks have moved here and pushed ‘our’ people out and into the suburbs. Now the city wants to force the few remaining Blacks living in Bronzeville out by displacing them with the Olympics,” said Nathan Kunjufuwon, executive director of Black Pride. “Obama is a brother and lives five minutes from Bronzeville, so he knows what this community means to Blacks, and if he is true to his word, he will step up to help us save ‘our’ community.”

Yea, I'm sure Obama is going to step in and help you...Just like he helped Rev. Wright when he was making racist comments.

The Cynics Have Some Meat to Feast On

It goes without saying that many people are skeptical of our government (especially state and local for that matter). Given the recent developments with Blago, they definitely have some meat to feast on.

Here is Gapers Block's dire take on yesterday's story about the Olympic Village and it's relation to corruption and the recent events:

While most of us stood in amazement at the criminal complaint filed against G-Rod yesterday, you can bet that after hearing the news, Daley's mind immediately gravitated to its impact on Chicago's Olympic bid. Just as the first thought through Blagojevich's head following Obama's election victory was, "I'm to make some [expletive] money off this thing,"

What an Idiot!

Unless you've been living under a rock for the past day, you've probably heard our esteemed, trust worthy and beautiful Governor (check out his hair), Rod Blagojevich, has been arrested on numerous charges of corruption. All we can say is...what an idiot!

But we're not here to talk about his stupidity, but more importantly how this effects the Olympic Bid. According to some IOC officials that were quoted in the Chicago Tribune, Blagojevich is 'irrelevant' to the cities Olympic bid.

Although this is good news (depending on how you view the bid), we find it hard to believe. When the most prominent state government official is in the news for corruption, it's not good. It taints the city, state and everyone and everything associated with it (including the Olympic Bid).

As most people know (especially long time residents of the area), Chicago is infamous for its political corruption. Although Sloopin still supports the bid, it does give us some pause when this type of blatant manipulation and corruption still remain so prevalent. It's going to cost a lot to stage the Olympics in Chicago (if we get it) and with that comes a lot of opportunity for corruption, favors and kickbacks.

At least we won't have to worry about Blago...but something tells me there are other corrupt officials waiting to step in.

The Future of the Olympics

As many loyal Sloopin readers know, the Chicago 2016 Olympic Bid is one of our favorite topics to follow. However, to most of us, 2016 seems a long time away. So just in case you're having some issues realizing what the Olympics could look like in 8 years, Saturday Night Live is here to tell us:



Ok so the 3022 Olympics might be a little different then the 2016 Olympics, but one thing remains constant "There was a bit of a budget snafu".

Soldier Field: The Spaceship has Landed

So this past Sunday we were lucky enough to get some tickets to watch the Bears mop up on the pitiful Jacksonville Jaguars. As most Chicagoans know, a December home game experience at Soldier field can be summed up in one word...Freezing. That was the case this past Sunday as the wind chill read -1 throughout the day.

As I froze, one of the many things that caught my attention was the design of Soldier Field. The most recent renovation has been met with a wide range of reviews. The New York Times called it one of the best new buildings of 2003, while one Chicago Tribune architecture critic dubbed it the "eyesore on the Lake Shore."

Personally, I think it has an interesting exterior design. Yes it looks like a spaceship landed on the old Soldier Field, but in my opinion it's an interesting example of modern progressive architecture blending with a historic venue. Regardless of your views on the exterior, the interior is a great place to watch an event. The stadium seating is very steep and as a result there aren't many bad seats. Another interesting thing about the stadium is that the entire east side has an enclosed, indoor concourse (which is unusual for football stadiums as far as I'm aware). As it stands now, Soldier Field is the smallest stadium in the NFL in terms of seating capacity (61,500).




For those of you who are unaware of the remodeling here are two images. The first is the old stadium prior to the space ship renovation (from the south side):


The next picture is after the renovation:



The funny thing about the stadium is that since 1984 it was on the list of National Register of Historic Places, but after the renovation this designation was revoked (in 2003).

I still like the place!

Olympic Village Deal Back On

According to the Chicago Tribune, Medline (who owns the Michael Reese Hospital Land) and the city have reached an agreement for the land that the proposed Olympic Village would be built on.

Complications arose earlier this year when demolition estimates soared. The new deal is supposed to be announced on Tuesday and has Medline chipping in more money:

The newly hammered-out deal with the Mundelein-based hospital supplier raises the overall price on the 37-acre property by $1 million, but it also significantly boosts the sum the seller will contribute toward demolition and site remediation, from $20 million to as much as $32. 5 million, sources said.

As you can see by the picture below this land (highlighted in red) is prime real estate:



Good news for the Chicago 2016 bid...

How Does Business Effect the Olympic Bidding Process

We've been following the Olympics pretty closely on Sloopin and as a result we bring you this recent article in Sports Business Journal.

It talks about the US broadcasting rights for the 2014 and 2016 Olympics. This is a side story to the bidding process, but nonetheless important since ESPN, NBC, FOX, etc. most likely will pony up billions of dollars to broadcast the games.

Since the US rights are the most lucrative to the Olympics (as compared to Asia, Europe, etc.), it's often said that the IOC likes to have the games staged in the US because it appeases the broadcast partners and their potential advertisers/sponsors.

One theory is that this is an advantage for Chicago's bid because broadcast partners (ie NBC) and sponsors (McDonalds, Visa, etc.) would like to have the Olympics in their primary markets rather then secondary, foreign markets (like Rio).

The thing to note from the article is that the IOC is rumored to be contemplating awarding the broadcast rights after they decide where the 2016 games would be held (normally they award broadcast rights prior to naming the host city). If this happens, I think it sends a strong signal that the IOC is aware and looking to optimize how much they can get for the next round of Broadcast rights.

Although this is only one of many variables that the IOC will look at when determining the host city, I think it's a big plus for the Chicago bid. After all, the IOC is a business and at the end of the day it needs capital to exist.

Roosevelt Collection Update

One of the biggest developments currently taking place in the South Loop is the Roosevelt Collection. This project is very interesting as it provides a wide variety of things to the neighborhood (lots of retail, condos, movie complex, gym, among other things). According to the article in YoChicago, residents will be able to move in sometime around June of 2009.

Also of interest is that the sales person says they will be disclosing the retail tenants next month (January 2009). There is space for a ton of retail...the one thing I'm hoping for is a Chipotle!