* Press release…
Mayor Rahm Emanuel and the Department of Buildings today announced the 53rd tower crane to operate in Chicago in 2017, breaking the record of 52 tower cranes operating set last year. The latest tower crane to dot the sky is located at 2345 N. Lincoln Avenue, a six- acre mixed-use development on the former site of Children’s Memorial Hospital.
“People are optimistic about the future of Chicago. They want to move here, they want to invest here and they want to build here,” said Mayor Emanuel. “As Chicago’s economy continues to get stronger, we will continue to partner with businesses, big and small, to keep this progress going.”
With this new tower crane, there are 53 tower cranes in operation this year, 31 are still on construction sites in Chicago and seven new tower cranes are pending installation. This marks the largest number of operating cranes in a year since the Great Recession, when the City dropped to as low as 12 operating tower cranes in 2010.
The new tower crane is the second to be installed at this development, called The Lincoln Common. The transit-oriented development features 94,000 square feet of retail space, 538 apartment units, 40 luxury condominiums, a 47,000 square foot boutique office building, a parking garage with 850 spaces, a 149-room senior living facility and more than an acre of open space. New buildings will be mixed with restored and revitalized structures to integrate into the existing neighborhood fabric with ready access to the Fullerton train stop (red/brown/purple CTA lines), buses and bike lanes.
“The Hines McCaffery partnership is very proud to share in this historic moment,” said Dan McCaffery, Chief Executive Officer of McCaffery Interests. “We love this city and the opportunities it offers for so many. Congratulations Chicago!”
Cranes typically operate on construction sites for over a year and can operate for as long as two years, depending on the size of the development.
In addition to tower crane records, Chicago last week reported a dramatic uptick in permits issued for single-family home renovations. In 2015, the average number of permits issued per month was 169, and through the first half of this year, we have averaged 202 permits per month. Following a commitment to homeowners last fall to issue single-family home renovation permits without special zoning approvals in 30 days or less, the average time to get this permit in 2017 is 25 days (a decrease of 10 days from 2016).
“The Department of Buildings is committed to being a partner, not an obstacle, for building projects,” said Building Commissioner Judy Frydland. “We have laid the groundwork in the last two years with reforms that make it more cost-effective to build and easier to obtain building permits.”
Recent reforms implemented under Mayor Emanuel and Department of Buildings Commissioner Judith Frydland include a new Electrical Code approved by City Council in early September, the elimination of multiple dwelling registration, and additional code relief for plumbing, energy, and natural light and ventilation requirements.
Might wanna get rid of that cloud services tax, Mr. Mayor. Amazon awaits.
* Meanwhile, Crain’s has an interesting story about how manufacturing is doing very well in Lake and Will counties…
A strong market for the wares of those [medical] device-makers is why, when statewide manufacturing employment clocks in at 16 percent lower than its prerecession high, Lake has recovered to within 1 percent of the 51,700 workers the industry employed there in 2008. Will County, busting at the seams, has done even better: Last year manufacturing employment surpassed the high it hit in 2008 by 3 percent. The industry employed almost 22,000 in the county in 2017’s first quarter, according to the U.S. Bureau of Labor Statistics. […]
Lake County, on the other hand, is not solely medical equipment, but that’s one of the largest clusters, says Kevin Considine, CEO of economic development firm Lake County Partners. The largest is pharmaceuticals. Drugmakers Abbott, AbbVie and Baxter are headquartered there, with AbbVie operating a factory in North Chicago while Baxter has one in Round Lake making products “from penicillin to pre-filled IV bags.” Though the recession certainly touched the county, he says, “we’re very fortunate to be deep in sectors that weathered that well.” […]
In Will County, economic development specialists say there’s no single factor driving the rise in manufacturing employment. Certainly, the county has taken its lumps. Caterpillar has shrunk the workforce at its Joliet plant from 770 in 2015 to 475 now, with the plant scheduled to close in 2018. But small and midsize companies are relocating from elsewhere in the region, attracted by the county’s low taxes and thriving distribution and logistics industry, says John Greuling, CEO of the Will County Center for Economic Development.
Magenta, a plastics injection molding company, has added at least 70 jobs, distiller Diageo North America added 100 in Plainfield in 2013, and Julian Electric moved 300 employees in May from Westmont into a new corporate headquarters in Lockport.