Chicago Fire Department
Valvetronic Actuator Motor,Servo Motor For Car,Eccentric Shaft Actuator,Valvetronic Servomotor Suzhou Barjon Auto Parts Co.,Ltd , https://www.cn-barjon.com
Excerpts from chicagocurbed.com:
I recently came across some interesting news about a proposed development in Chicago's River North area. The city is considering replacing the current Engine Co. 42 fire station located at the corner of Illinois and Dearborn with a brand-new, state-of-the-art facility. This new station would sit at the base of a towering mixed-use skyscraper, marking another innovative collaboration between public and private sectors in Chicago.
According to a report, the existing firehouse, which has served the community since 1968, would be demolished and replaced by a new structure costing around $20.2 million. The development would be spearheaded by local real estate mogul Friedman Properties. If approved, the old building will make way for a massive 614,000-square-foot complex featuring office and mixed-use spaces. The design firm behind this ambitious project is DLR Group, known for their work in urban architecture.
The city's proposal includes a concept sketch of the proposed glassy skyscraper, though it's noted that the final design is still undergoing refinement. Interestingly, the city is open to receiving alternative bids from other developers over a 30-day window following the release of Friedman's deal details online.
Friedman has committed to paying $5 million for the current firehouse site and adjacent alley to construct the tower. Given its current zoning classification as DX-7 Downtown Mixed-Use, the developer may also contribute up to $10 million to Chicago’s Neighborhood Opportunity Bonus system. These funds are earmarked for revitalizing areas of the city that lack significant investment.
Although no formal approval has been granted yet, the project must navigate the usual regulatory processes, including community engagement sessions and presentations before the Chicago Plan Commission and City Council. Officials anticipate a boost in annual property tax revenue of approximately $4.4 million once the development is complete.
Excerpts from chicagobusiness.com:
In other Chicago news, developer Albert Friedman is set to embark on a bold initiative involving the River North firehouse. His vision entails constructing a modern fire station to replace the existing Engine Co. 42 station at 55 W. Illinois St., topped by a substantial office and mixed-use tower. This marks a creative public-private partnership where the city gets a new, upgraded firehouse without any upfront costs, while Friedman secures a prime development opportunity.
Friedman's project spans 614,000 square feet directly west of the current firehouse. As one of River North's leading commercial property owners, Friedman already owns several notable buildings nearby, including a trio of hotels just north of the fire station. The architectural plans for the new tower are being handled by DLR Group, adding another layer of prestige to the project.
Despite the growing residential demand in River North, Friedman seems better positioned to cater to office tenants due to stronger leasing prospects in that sector. Although Friedman Properties declined to comment, they expressed enthusiasm about collaborating with stakeholders to move the project forward.
The memorandum of understanding between Friedman and the city outlines specifics, including Friedman's $20.2 million commitment to the new firehouse and a $5 million payment for acquiring the existing property. Additionally, Friedman has agreed to contribute $10 million to the Neighborhood Opportunity Bonus program, supporting neighborhood development initiatives. Alderman Brendan Reilly praised the potential of this partnership, emphasizing how it could enhance the area while ensuring safety for firefighters.
With a portfolio including luxury hotels and historic buildings, Friedman continues to solidify his presence in Chicago's bustling River North district. His upcoming ventures include a 500-room hotel near the Reid Murdoch Center and involvement in an eight-story hotel nearing completion at 530 N. LaSalle St., rumored to be a Moxy Hotel by Marriott.