Serving the Loop and Near North neighborhoods of downtown Chicago
Hotel plans slowed Wolf Point development, Reilly tells River North residents

Photo by Steven Dahlman

(Above) 42nd Ward Alderman Brendan Reilly (left) speaks with the new commander of Chicago Police Department’s 18th district, William Dunn, before Tuesday’s annual meeting of River North Residents Association.

December 5, 2012 – It was unexpected hotel rooms that convinced 42nd Ward Alderman Brendan Reilly to “put the brakes” on plans by Houston-based Hines Interests L.P. to develop Wolf Point.

On November 27, Reilly asked the Chicago Plan Commission to remove from its agenda that day consideration of the proposal to turn Wolf Point near Merchandise Mart into a complex of three office and residential towers. Although he did not elaborate at the time, the alderman said documents submitted to the city by developers did “not accurately reflect the significant changes to the proposal” that he and his office had negotiated on behalf of constituents in neighborhoods near Wolf Point.

Speaking Tuesday evening at the annual meeting of the River North Residents Association, Reilly said developers “at the eleventh hour” changed the proposal from what had been agreed upon after five months of negotiation.

“What changed was the introduction of potential for 1,800 hotel keys – that was never previously disclosed to me, the City of Chicago, the neighborhood residents, or [Chicago Department of Transportation], and there was no way to foresee the project called for that type of zoning.”

He says he is still working with Hines and most of the issues are resolved. “We’re drilling down, trying to find exactly what the developer would hope to build here.”

An agenda has not yet been released but the Chicago Plan Commission will meet again on December 20, 2012.

New bars being directed to Wells Street

Reilly also told the group about possible new development on North Wells Street south of West Chicago Avenue, an area he described as currently having a “dead retail presence, empty store fronts, dilapidated buildings, poor lighting, homeless and panhandling concerns.”

Saying there is a “new round of liquor licenses,” and with bars and restaurants popular on Kinzie Street “to the point now that we’ve basically achieved saturation,” Reilly says he “put the thinking cap on again to figure where we put in this whole new slew of restaurant and bar applications.”

Encouraging new businesses to locate near River North’s northern border, says Reilly, would “prevent neighborhood problems, create jobs and new business opportunities.”

(Below) Google Map of area with Wells & Chicago in upper left corner.

Google Maps

 Related story: Documents not ready, Plan Commission defers discussion of Wolf Point

Mortgage rates hit 7.28%, tightening squeeze on North Side buyers
Mortgage rates hit 7.28%, tightening squeeze on North Side buyers
Former Royal Sonesta quietly rebrands as Hotel 505 following sale to Canadian developer
Former Royal Sonesta quietly rebrands as Hotel 505 following sale to Canadian developer
Goodbye, 5% mortgages: Rate creep and inventory slump pinch Chicago buyers
Goodbye, 5% mortgages: Rate creep and inventory slump pinch Chicago buyers
Crossing the river: A Chicago fan’s game-day guide to the Chiefs’ new home in KCK
Crossing the river: A Chicago fan’s game-day guide to the Chiefs’ new home in KCK
Cook County homeowners bear brunt of $744M tax hike as commercial values lag
Cook County homeowners bear brunt of $744M tax hike as commercial values lag
Why Cook County’s senior property tax freeze should be automatic—and permanent
Why Cook County’s senior property tax freeze should be automatic—and permanent
Mayor’s ‘PRO’ renter ordinance could backfire with higher rents, landlords warn
Mayor’s ‘PRO’ renter ordinance could backfire with higher rents, landlords warn
Data center redevelopment at 300 West Adams approved
Data center redevelopment at 300 West Adams approved
At CTA stop, Bailey pledges SAFE-T Act repeal and property tax cap
At CTA stop, Bailey pledges SAFE-T Act repeal and property tax cap
Court backs City Hall in Streeterville pot shop ruling
Court backs City Hall in Streeterville pot shop ruling
ChicagoFilming.com Chicago MLS Pro Aqua Condo Homes Marina City Condo Homes West Town Condos Chicago MLS Pro