Why can't they remove the 'for sale' sign?
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those never get taken down until its final and all the papers have been signed and loans approved...just like for houses too.stlien wrote:Why can't they remove the 'for sale' sign?
ooohhh so it's not final...I thought they closed on the building..
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The building sale closed in late 2012. They already own it.stlien wrote:ooohhh so it's not final...I thought they closed on the building..
The jewelry store in the building is back open I guess they just close in-case a riot happen downtown,.
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Chemical back on the marketPresbyterian wrote:The building sale closed in late 2012. They already own it.stlien wrote:ooohhh so it's not final...I thought they closed on the building..
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Who has the listing?John Cocktoastin wrote:Chemical back on the market
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Let me rephrase...I'm not sure if it is officially on the market. I spoke with a developer a few weeks back regarding an unrelated development and he mentioned to me that he was going to contact their (Landwhite's) broker about making an offer. I don't believe Landwhite is moving forward on this project anymore.debaliviere wrote:Who has the listing?John Cocktoastin wrote:Chemical back on the market
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Gotcha. Hopefully they'll unload it. It's ridiculous that it has sat vacant for as long as it has.John Cocktoastin wrote:Let me rephrase...I'm not sure if it is officially on the market. I spoke with a developer a few weeks back regarding an unrelated development and he mentioned to me that he was going to contact their (Landwhite's) broker about making an offer. I don't believe Landwhite is moving forward on this project anymore.debaliviere wrote:Who has the listing?John Cocktoastin wrote:Chemical back on the market
Agreed.debaliviere wrote:It's ridiculous that it has sat vacant for as long as it has.
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I sure hope that these proposals aren't falling though because of the lack of available parking.
I remember once Ald Young discussing the reason the project was stalled due to parking negotiations. Now she has stepped down and this info has come up.
I remember once Ald Young discussing the reason the project was stalled due to parking negotiations. Now she has stepped down and this info has come up.
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^ I hope this is still in play.... such a key corner that will fill out the OPO nicely when developed. At $34 million, it also is a relatively modest project in terms of cost that I think would provide an over-sized return.... I think the Chemical and what I like to think of as its sibling, the LaSalle Building, would be good candidates for receiving a little bit extra boost from the city through a direct grant or forgiveable loan like what some of our peer cities are doing.
Maybe if their OPOP investment pans out, the Chemical will fit UrbanStreet's: buy cheap building in good condition, plug in interior fixtures, lease up business model.
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Maybe someone should start a list of folks who would move to the Chemical building if it had apartments comparable to _______________ for a comparable price. Same with Ballpark Village Tower. Seems like the owners are leaving years of rent on the table because they apparently don't know what they've got.
Owners know what they have, thats why they make the initial purchase. The problem will always be STL's social, economical, and political issues. Makes it hard to get financing from out of state financial institutions.gary kreie wrote:Seems like the owners are leaving years of rent on the table because they apparently don't know what they've got.
The Ferguson situation has made STL untouchable (for lack of a better word).
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^ Any evidence to suggest that we've been red-lined by out-of-state financial institutions? We've certainly seen out-of-state investments in the region, including downtown. The purchases of 200 N. 4th and 1902 Pine are just two recent examples.
Noticed in the fine print that the list info was provided to Biz Journal by the Downtown Partnership; I assume they would provide a relatively up-to-date list but who knows how much contact they've had with LandWhite recently.moorlander wrote:Still listed as "in development" in today's list in the BJ
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I ran by chemical yesterday and the for sale sign now has a sold stick on it. Looked like a new sold sign. Is this new or have I simply never noticed it before? I
The sold sign probably fell off and has now been put back. I asked the same question awhile ago.mjbais1489 wrote:I ran by chemical yesterday and the for sale sign now has a sold stick on it. Looked like a new sold sign. Is this new or have I simply never noticed it before? I
I asked Doug Woodruff about this building at the CID meeting last week and he indicated that a company from New York now owns it or owns the note. Sorry that is all I can remember.
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Got it thanks. I only went two pages backstlien wrote:The sold sign probably fell off and has now been put back. I asked the same question awhile ago.mjbais1489 wrote:I ran by chemical yesterday and the for sale sign now has a sold stick on it. Looked like a new sold sign. Is this new or have I simply never noticed it before? I
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Landwhite is an Indiana/New York company so it still could be in the same hands. Hopefully something will come sooner than later as its such a prime candidate. As I've mentioned before, if a reasonable forgivable loan or even an outright grant is what it will take for it to cross the finish line I think it would be a wise investment at the moment.arr1274 wrote:I asked Doug Woodruff about this building at the CID meeting last week and he indicated that a company from New York now owns it or owns the note. Sorry that is all I can remember.
Had the jeweler in the building change my watch battery today. He has been told that construction will start next month and they will work around him...Who knows...Sometimes miracles happen.
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^ I guess the good news is that it's in new hands that hopefully are more capable in getting the job done. But I also think it's not good news that there was only one bidder. Ideally there'd have been multiple bids, with for example Brandonview getting out bid by this out-of-towner.