A local developer is working on plans to save the vacant
10-story Illinois Building, considered in recent years as one of the state's most endangered historic structures. Halakar
Properties Inc. has put the Illinois Building under contract, and has been meeting with city officials about a tax abatement
that could help return retail space to the first floor and turn the upper floors into apartments, industry observers told
IBJ for a story published in this week's print edition. The 1925 building at the southeast corner of Illinois and Market streets
has generated plenty of interest among potential tenants in recent years. But the building, which last housed a food court
and a gym, has been vacant since 2003 thanks in large part to a legal battle between the owners of the building itself and
separate owners that control the land underneath. The Halakar contract would bring the parties in that dispute together. The
company, which developed the 3 Mass condo and retail project, has been talking with potential development partners for the
project. No cost or time line was available. The full story is here.
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Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat
reporter. Edited by Cory Schouten.
A local developer is working on plans to save the vacant
10-story Illinois Building, considered in recent years as one of the state's most endangered historic structures. Halakar
Properties Inc. has put the Illinois Building under contract, and has been meeting with city officials about a tax abatement
that could help return retail space to the first floor and turn the upper floors into apartments, industry observers told
IBJ for a story published in this week's print edition. The 1925 building at the southeast corner of Illinois and Market streets
has generated plenty of interest among potential tenants in recent years. But the building, which last housed a food court
and a gym, has been vacant since 2003 thanks in large part to a legal battle between the owners of the building itself and
separate owners that control the land underneath. The Halakar contract would bring the parties in that dispute together. The
company, which developed the 3 Mass condo and retail project, has been talking with potential development partners for the
project. No cost or time line was available. The full story is here.
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Laura-the festivals and tastings are free. What does is strengthen the sense of community with activities. What are those empty lots doing for the Village? it's sad you can't see the good that this progress can do for the area. No one is requiring anyone to shop there. I guess you'd rather see a Dollar store move in or no, we'd rather see the property stand empty b/c change is out of the question.
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Read down to the part about Brizzi. Someone needs to subpoena his "purchases" of Red RockPictures and Cellstar and his corresponding bank records, I mean c'mon, I'd like to see his alcohol usage records, too. http://diana-vice.blogspot.com/2011_01_01_archive.html
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Wonder if my neighborhood can advertise our "retention" pond and act like it is a beach too?
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a new record at the '11 salebration until they realized that it was a futile effort to get their crapwagon moter and crapwagon car up speed. And then they just quietly slunk off into the night and never spoke of it again. Nothing to see here folks.
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millions for putting a company's bumper sticker on one of its Lolas. But you gotta take what you can get.
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This is a great historic downtown building and I am pleased to hear it could be saved!
Same for the Consolidated Building on N. Penn. I thought that was sold a few years ago. It adds density to an urban core that typically lacks it, but the building shows no sign of life.
The McDonald's at the Hyatt is gone. Only one left downtown is on the circle.
I think the City market is all but dead if they don't increase the hours daily and add weekend hours it doesn't matter if there is a food court nearby or not.
I suggested another food court because whenever there is an event downtown the Circle Centre food court gets so packed I end up walking to White Castles anyway just to be able to eat somewhere.
I also hate posts that veer way off the subject, but the comment on the City Market has me wondering -- is that working, or has it failed again?
To see urban markets on a doable and manageable scale, you need only look down the road at Columbus' North Market or Cincy's Findlay Market. They are doable, manageable, and viable, and remain a fabric of the community like City Market once was. Even Flint, Michigan has an vibrant and fun urban market. Besides endless remodeling to make it feel more suburban, and bungling politicial favoritism and mismanagement, where did it go so wrong and lose it's mission? Did I just answer my question? Why, do they keep blowing it there?
At one time we had a fresh fish vendor and they would not let them fry fish because Libby's, at the time the major renter in the market complained and said their customers did not like the smell of fish. WTF is it a market you are suppossed to have smells.