http://www.riversideinfo.org/forum/ Discussion Forum for Riverside Illinois en Fri, 10 Feb 2012 07:29:07 +0000 http://www.riversideinfo.org/forum/topic/arcade-building-1#post-13078 Fri, 11 Jun 2010 16:00:20 +0000 mrt 13078@http://www.riversideinfo.org/forum/ <p>This Arcade deal promises to be an improvement to Riverside - makes a blight in the middle of town actually a good thing for the Village and might, when finished, bring more people to town. I think it is great that they are trying for an 1871 restoration replete with the vertical chimneys. Best of luck to our new neighbors. </p> <p>And thank you to the Preservation people for helping this along. </p> http://www.riversideinfo.org/forum/topic/arcade-building-1#post-13077 Fri, 11 Jun 2010 15:28:12 +0000 HRCollins 13077@http://www.riversideinfo.org/forum/ <p>I believe the application was approved. </p> http://www.riversideinfo.org/forum/topic/arcade-building-1#post-13076 Fri, 11 Jun 2010 14:15:36 +0000 ChrisHajer 13076@http://www.riversideinfo.org/forum/ <p><a href="http://www.cookcountyassessor.com/forms/clslb.pdf" rel="nofollow">http://www.cookcountyassessor.com/forms/clslb.pdf</a></p> <p>Did the application for Class L designation get approved on June 7? </p> http://www.riversideinfo.org/forum/topic/arcade-building-1#post-13075 Fri, 11 Jun 2010 14:13:47 +0000 ChrisHajer 13075@http://www.riversideinfo.org/forum/ <p>I think those are the Class L designation tax breaks that were discussed for the prior owners as well. </p> <p><a href="http://www.riversideinfo.org/forum/topic/fiscal-emergency-wextrust-arcade-building/page/10#post-7002" rel="nofollow">http://www.riversideinfo.org/forum/topic/fiscal-emergency-wextrust-arcade-building/page/10#post-7002</a></p> <p><a href="http://www.riversideinfo.org/forum/topic/fiscal-emergency-wextrust-arcade-building/page/11#post-7025" rel="nofollow">http://www.riversideinfo.org/forum/topic/fiscal-emergency-wextrust-arcade-building/page/11#post-7025</a></p> <p><a href="http://www.riversideinfo.org/forum/topic/anti-tif-means-you-cannot-be-pro-class-l-for-arcade" rel="nofollow">http://www.riversideinfo.org/forum/topic/anti-tif-means-you-cannot-be-pro-class-l-for-arcade</a></p> <p>The Preservation Commission knows best about how this works. </p> http://www.riversideinfo.org/forum/topic/arcade-building-1#post-13074 Fri, 11 Jun 2010 13:15:03 +0000 HRCollins 13074@http://www.riversideinfo.org/forum/ <p>I understand that this building is getting some tax breaks. Will these breaks have any effects on other Riverside taxpayers or the schools? </p> http://www.riversideinfo.org/forum/topic/arcade-building-1#post-13073 Fri, 11 Jun 2010 12:59:00 +0000 mrt 13073@http://www.riversideinfo.org/forum/ <p>Here is another item that occurred at a 6-1-10 Village meeting</p> <p><a href="http://www.mysuburbanlife.com/riverside/topstories/x1332189814/Arcade-Building-is-stepping-back-in-time" rel="nofollow">http://www.mysuburbanlife.com/riverside/topstories/x1332189814/Arcade-Building-is-stepping-back-in-time</a></p> <blockquote><p><strong>Arcade Building is stepping back in </strong>time</p> <p>By Laura Bollin, <a href="mailto:lbollin@mysuburbanlife.com">lbollin@mysuburbanlife.com</a><br /> Riverside Suburban Life<br /> Posted Jun 08, 2010 @ 03:21 PM<br /> Riverside, IL —</p> <p>If the new owner of the Arcade Building is able complete all of the plans he wants to, Riverside residents will see the downtown building as it looked in 1871 before winter hits.</p> <p>At a special meeting June 1, Riverside’s Preservation Commission approved Joe Zapani’s plans, which include more than 20 changes to the exterior of the building that will restore it to the way it looked almost 130 years ago.</p> <p>... </p></blockquote> http://www.riversideinfo.org/forum/topic/arcade-public-meeting-saturday-815-at-900-am-town-hall#post-10611 Wed, 16 Sep 2009 14:20:15 +0000 KimJ 10611@http://www.riversideinfo.org/forum/ <p><a href="http://www.landmarks.org/ten_most.htm" rel="nofollow">http://www.landmarks.org/ten_most.htm</a></p> <p>The Arcade is on the 10 most endangered list, not the watch list, which you link to above. </p> http://www.riversideinfo.org/forum/topic/arcade-public-meeting-saturday-815-at-900-am-town-hall#post-10609 Wed, 16 Sep 2009 14:09:49 +0000 CuriousResident 10609@http://www.riversideinfo.org/forum/ <p>Did the Arcade get dropped from the list?<br /> Or is this a different preservation group?</p> <p><a href="http://www.landmarks.org/chicago_watch.htm">Landmarks Illinois Chicagoland watch list 2009-2010</a> </p> http://www.riversideinfo.org/forum/topic/arcade-public-meeting-saturday-815-at-900-am-town-hall#post-10209 Wed, 19 Aug 2009 08:45:52 +0000 Catherine 10209@http://www.riversideinfo.org/forum/ <p>Landmarks Illinois presentation:</p> <p><a href="http://www.riverside.il.us/vertical/Sites/%7BFF0B0056-4ACF-4890-985A-29B8374E9BEE%7D/uploads/%7B6A378A22-1B74-4E1E-ABE0-9F1B749C1EE5%7D.PDF" rel="nofollow">http://www.riverside.il.us/vertical/Sites/%7BFF0B0056-4ACF-4890-985A-29B8374E9BEE%7D/uploads/%7B6A378A22-1B74-4E1E-ABE0-9F1B749C1EE5%7D.PDF</a></p> <p>Preservationist Aberdeen's presentation:</p> <p><a href="http://www.riverside.il.us/vertical/Sites/%7BFF0B0056-4ACF-4890-985A-29B8374E9BEE%7D/uploads/%7B6A7E3877-1101-4757-BBC9-F3A94BD3B30F%7D.PDF" rel="nofollow">http://www.riverside.il.us/vertical/Sites/%7BFF0B0056-4ACF-4890-985A-29B8374E9BEE%7D/uploads/%7B6A7E3877-1101-4757-BBC9-F3A94BD3B30F%7D.PDF</a></p> <p>Both have a great deal of knowledge and assistance to offer any buyer. The real estate broker, representing his client, also was there to take questions. He seemed a very decent guy and it was good he showed up.</p> <p>Questions and answers, I think you can imagine what they were. Most were for the real estate guy. In response to questions about the unlikely asking price, he said things move slowly as his client is a bank. He pointed out the original price and pointed out the 500K Wextrust put in. I believe he understood the asking price is unlikely nonetheless, but noted his client is a bank and banks have processes that move slowly.<br /> He said the client will do what needs to be done to protect the building in winter if necessary.</p> <p>Of interest was he said that at this asking price and the estimate for build-out, he tells prospective buyers the retail space on 1st floor would have to lease for $18-22 per square foot. He seemed dubious about the upstairs. (By this, it can be seen the asking price must go down. I believe these are Chicago-level rates.)</p> <p>One resident proposed tearing it down for a parking lot. He was serious. The reaction caused him to leave immediately thereafter. Other proposals included offices upstairs, use of the building in a British Home fashion, and a bed and breakfast.</p> <p>The question was raised of a teardown. The broker said the economics would not support it as the building is worth more than the land. Preservation described the process for teardown of a landmark, how hardship had to be proven in a court of law and it would be a few years-long process.</p> <p>One resident said the carrying costs should be raised by village government, i.e. the owner should be ticketed for every violation. (This can be done daily.)</p> <p>There was general agreement to an artists' competition to make more beautiful the exterior spaces of the building now boarded or Tyveked. This would relieve us and also assist the sale.</p> <p>One resident suggested formation of an LLC of residents (and interested parties) in which anyone of any means could buy shares. (Spearheading is still lacking in such an initiative.) </p> http://www.riversideinfo.org/forum/topic/arcade-public-meeting-saturday-815-at-900-am-town-hall#post-10208 Tue, 18 Aug 2009 17:06:31 +0000 mrt 10208@http://www.riversideinfo.org/forum/ <p>any news from this meeting? I was out of town. </p>