Condos to be built over railroad tracks?

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chicagogo chicagogo
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Condos to be built over railroad tracks?

Friends are rumbling about plans to build condos over the railroad tracks that run parallel to the Metra lines in the South Loop. It seems this was talked about before 2008 and the recession. Is it back on the table?
Brian Brian
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Re: Condos to be built over railroad tracks?

Any idea where?  Some of the existing condo buildings have easements over the tracks that run for 99 years but start at a certain height above CCD.  So it would be possible to build "short" buildings over the tracks.  If you look at the office building under construction at Lake Street and the river, you can see how much extra clearance is now being required for construction over tracks compared to when other buildings were built along the same tracks.  Compare the Boeing building and that new tower.  The Boeing building has a normal entrance at street level yet the new tower can't even have an entrance on Lake Street because the first floor is so far above street level.

It makes me think that anywhere in the South Loop along the tracks where the easements are in place the economics will never work out.  Have your friends dig into their condo docs to see if their building has any easements.
chicagogo chicagogo
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Re: Condos to be built over railroad tracks?

Thanks, Brian. When I bought on Calumet 8 years ago, my realtor advised me about the possibility of condos being built over the tracks from about 14th-15th to  Cullerton or further south.