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* The Blackhawks, the Senate President, parking lots, Malcom X College and more. Click it.
posted by Rich Miller
Tuesday, Aug 4, 15 @ 11:33 am
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“And, someone please condemn and buy out those parking lots,” Pack ‘em up and ship them to Springfield, because goodness knows we need more of them down here!
Comment by Skeptic Tuesday, Aug 4, 15 @ 11:39 am
“Sometimes you win. Sometimes you lose. And sometimes, three-quarters of a loaf is more than enough.”
Something our governor needs to learn in a hurry.
Comment by Huh? Tuesday, Aug 4, 15 @ 11:43 am
– And someone condemn and buy out those parking lots–
I’m not sure what that statement means, but I’m not a fan of using eminent domain to seize private property for another private purpose, even thougn the Supremes say it’s kosher.
When the price is right, it’s yours. That seems to work everywhere else.
The transformation of the Near West side since the ‘96 convention has been incredible and is continuing. The amount of new residential alone is mind-blowing. You even see it nudging into East Garfield Park now.
Comment by Wordslinger Tuesday, Aug 4, 15 @ 11:47 am
That is an interesting read.
Comment by A guy Tuesday, Aug 4, 15 @ 11:47 am
Cullerton connection is specious. Kassian leap by the esteemed Mr. Hinz.
Comment by LizPhairTax Tuesday, Aug 4, 15 @ 11:48 am
“And, someone please condemn and buy out those parking lots,” yes, because Chicago has way too much affordable, convenient, and available parking.
Let’s continue to shove too many people into too small of a space, because that is so much more logical.
Comment by mcb Tuesday, Aug 4, 15 @ 11:48 am
“And, someone please condemn and buy out those parking lots,”
What would be the public purpose used to condemn the parking lots? A neighborhood hockey center on the near west side of Chicago? After reading the article, the neighborhood hockey center seems more of an after thought in an attempt to justify a potential condemnation.
Comment by Huh? Tuesday, Aug 4, 15 @ 11:56 am
In such an interesting article, I thought I would be the only one to mention Hinz’s plea to condemn the parking lots.
Earlier in the story, Hinz states, “Some of the lots were part of family businesses that had been operating for generations, one insider tells me.”
I guess it’s the new business ethos in Chicago. Businesses owned for generations? Pshaw, let’s condemn them so that we can get new developments built, preferably with TIF funds!
Comment by the Other Anonymous Tuesday, Aug 4, 15 @ 11:57 am
My biggest question on this is, what is that parcel of land worth? The mayor’s aid said that the overall deal will “exceed market value with a mix of cash and community benefits”, and in a follow up article yesterday did not disclose the specifics of how that market value was established. It will be interesting to see once the appraisal is FOIA’d.
Comment by Dean Keaton Tuesday, Aug 4, 15 @ 11:59 am
Agree with Wordslinger.
Also, the Supremes are weak on economics. These are the people who approved an excise tax structured so it only applied to oil exported from Alaska, despite an express Constitutional prohibition on export taxes.
Comment by Last Bull Moose Tuesday, Aug 4, 15 @ 12:07 pm
Huh, you don’t need a public purpose for eminent domain since Kelo v City of New London. “Economic development” is enough.
Comment by Wordslinger Tuesday, Aug 4, 15 @ 12:15 pm
So condemn the lots used by the multi generational family business. Why? Because we can. No reason to pay what the owners are asking for the land just take it. As Wordslinger points out the Supreme Court decision extending eminent domain to this kind of action was legalized theft.
Not being from Chicago maybe someone can explain this to me. Why couldn’t the owner of the Blackhawks purchase the land without the city’s help? I’m assuming he actually makes a little money off the team.
Comment by Mason born Tuesday, Aug 4, 15 @ 12:15 pm
mcb
Your parking argument would make a lot more sense if those lots were used for anything besides UC event parking.
Comment by OneMan Tuesday, Aug 4, 15 @ 12:17 pm
” A neighborhood hockey center on the near west side of Chicago?” Actually there has been one for years I think on Madison or Monroe just west of the loop. Forgotten the name though. No, it’s not a nice shiny two-rink place for the Hawks, but it’s there.
Comment by Skeptic Tuesday, Aug 4, 15 @ 12:19 pm
===Why couldn’t the owner of the Blackhawks purchase the land without the city’s help? I’m assuming he actually makes a little money off the team.===
According to a recent interview with Rocky Wirtz, the Blackhawks do not make money. Yes, given the team’s success, it’s hard to believe they can’t find a way to earn any money from this enterprise. But don’t worry, Wirtz Beverage manages to eke out a profit.
The city is not giving them the land, but it is preventing anyone else from bidding on it and driving up the price. Plus, it already demolished Malcolm X, so the new owners won’t have that expense to deal with.
Maybe Rocky will have a “free night” at the United Center during the Hawks’ season, to repay the generous taxpayers that keep subsidizing his money-losing hobby. You know, sort of like how the museums have free days.
Comment by 47th Ward Tuesday, Aug 4, 15 @ 12:29 pm
Mason, the Wirtz’s have plenty of dough beyond the Blackhawks, believe me. Booze, real estate and banking are the biggies.
I’m actually surprised that there are lots around the United Center that they haven’t got tneir hands on already. They’ve been big heat in the neighborhood, city, and state, since Art Wirtz got old Chicago Stadium in a foclosure sale in The Depression.
Comment by Wordslinger Tuesday, Aug 4, 15 @ 12:31 pm
47th
Thanks for that fill in. I feel sorry for Mr. Wirtz to have such a money pit on his hands. They must be giving the memorabilia I keep seeing away.
Comment by Mason born Tuesday, Aug 4, 15 @ 12:33 pm
Wordslinger
Funny you would think with that revenue stream he could have met the landowners price. Then again if the city will do the dirty work why pay retail.
Comment by Mason born Tuesday, Aug 4, 15 @ 12:36 pm
I guess he’s not much of a businessman Mason. His labor costs are capped, he has multi-year television and radio contracts and a full house every night with one of the highest ticket costs in the NHL. And he can’t break even. It’s amazing.
Comment by 47th Ward Tuesday, Aug 4, 15 @ 12:37 pm
Rocky claims he’s still losing money on the Hawks, but I think that would involve some very creative bookkeeping in recent years.
The NHL has a hard salary cap. You know your expenses before the start of each season. Every game is SRO, and every playoff game, of which there have been many, is gravy.
I think Rocky is smart enough to figure out the intersection of supply and demand and adjust prices accordingly to eke out a profit, lol.
Comment by Wordslinger Tuesday, Aug 4, 15 @ 12:39 pm
===I’m actually surprised that there are lots around the United Center that they haven’t got tneir hands on already.===
And if Hinz wants to see development of parking lots around the stadium the Hawks/Bulls can just go ahead and use the ones they own and build on those
Comment by Been There Tuesday, Aug 4, 15 @ 12:43 pm
47th
I think we should offer him a little help. I bet we could pool our resources with some more friends and take that money pit off his hands. It may not be a multi million offer but beats losing money.
Wordslinger
I wonder charge the Hawks retail+ on booze and collect on a lower taxed distribution business perhaps.
Comment by Mason born Tuesday, Aug 4, 15 @ 12:47 pm
== ” A neighborhood hockey center on the near west side of Chicago?” Actually there has been one for years I think on Madison or Monroe just west of the loop. Forgotten the name though. No, it’s not a nice shiny two-rink place for the Hawks, but it’s there. ==
There are two near by, Johnny’s Ice House is one and that is where they currently practice.
Comment by OneMan Tuesday, Aug 4, 15 @ 12:51 pm
Also the intersection of elected officials and property tax law is always fun to see.
Comment by OneMan Tuesday, Aug 4, 15 @ 12:53 pm
===I think we should offer him a little help.===
LOL, we are. In addition to clearing the land and making sure he doesn’t have to out-bid anyone else to buy it, city taxpayers gave him land years ago on which the United Center was built. And he just got his property tax break for the UC renewed for another 20 years.
And even with all of that public largesse, millions and millions of tax dollars subsidizing his building and his team, he can’t find a way to make money.
Warren Buffett he ain’t.
Comment by 47th Ward Tuesday, Aug 4, 15 @ 12:55 pm
===Rocky claims he’s still losing money on the Hawks, but I think that would involve some very creative bookkeeping in recent years.===
Rocky is making money. Not from the hawks but from his other companies that deal with them. Such as those parking lots. And Bismarck (which he owns) sells the food and beer is probably charging him prices way over market rates.
Comment by Been There Tuesday, Aug 4, 15 @ 1:02 pm
Glad to see there is a community ice rink in the mix. Even with Johnny’s down the street, ice time is very hard to come by. Hockey kids are practicing at all hours of the night because there is so much competition for ice time.
Comment by Former Hoosier Tuesday, Aug 4, 15 @ 1:18 pm
As a former East Garfield Park resident and a regular skater at both Johnnys East and West i am excited about more rinks comng to Chicago, long overdue. However until the kids that live by those rinks can use them or the Hawks start a nonprofit to teach underpriviledged kids hockey, the sport will remain a game financially out of reach for those youngsters. I hope it truly is a comminiry center and not just expedited gentrification.
Comment by frisbee Tuesday, Aug 4, 15 @ 3:47 pm