Friday, April 13, 2007

Will Near North ever mimic Loop's canyons?

WIll a time ever come when areas north of the Chicago River will appear much like areas south: wall-to-wall high rises over a concentrated multi-street area?

I suspect the answer is "no". Near North development (be it Streeterville, River North, Gold Coast, Old Town, or even the Magnficent Mile) is more about keeping treasured low scale buildings and avoiding a Loop type of density. Despite the astronomical cost of real estate on the Near North Side and the pressure of real estate interests, there still is enough commitment on the part of residents and city alike not to create a Loop like environment.

Will real estate interests and the market prevail or will a commitment to keep even non-landmark status low scale buildings (as well as it not being prime office property) keep the Near North Side a balanced blend of high rise and low rise????>

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