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Fifield Rallies Real Estate Friends

This letter was recently sent to friendly real estate interests in support of the proposed demolition of the Lake Shore Athletic Club.

*

June 19, 2007

Dear Friend in Real Estate,

As real estate professionals, we both believe that development in downtown Chicago will benefit the city with beautiful new buildings and economic opportunities. That's why we are urging you to support Fifield's proposed residential development at 850 Lake Shore Drive, a 100-unit, high-end condominium development that will further beautify the Gold Coast and Lake Shore Drive areas, as well as enhance property values in the neighborhood.

The 850 Lake Shore Drive project has been in the news lately because the project requires the demolition of the Lakeshore Athletic Club, a vacant 80-year-old building owned by Northwestern University that hasn't been occupied by students in several years.

If this project moves forward, a new, high-quality, residential development will replace a dilapidated structure that will continue to be an expensive responsibility for Northwestern and a real estate liability for the Gold Coast as it sits empty and unused. Fifield has also committed to significant improvements to the Chicago Avenue underpass at Lake Shore Drive and other green space upgrades.

We at Fifield urge you to express your support for this project to 42nd Ward Alderman Brendan Reilly.

A group of preservationists are urging Alderman Reilly to landmark the building which would guarantee it will not be redeveloped due to the economic unfeasibility to do so. Northwestern has sought proposals to re-use this building for a residential use, the only use allowed per the zoning code and deed restrictions, and has found no qualified proposers. Therefore, the building would remain empty and unused.

We are especially urging 42nd Ward residents to express their opinion so Alderman Reilly knows there are many 42nd Ward residents who support the development. You should phone or email him TODAY to help this project move forward.

You can reach Alderman Reilly at:

Alderman Brendan Reilly
42nd Ward
200 East Ohio, Suite 401, Chicago, IL 60611 (312)642-4242
121 N. LaSalle Street, Room 306, Chicago, IL 60602 (312) 744-3065
Or email
Brendan@reillyforchicago.com

If you want more information about the Project, please call me at 312-424-6228 or email me at
aschachtman@fifieldco.com. Thank you for your help.

Sincerely,

Alan Schachtman
Senior Vice President

*

Previously:
* The 42nd Ward's New Demolition Man.
* Preservationist protest.
* Brendan Natarus item.
* Landmark Ruling item.
* Lake Shoreistan item.




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Posted on June 26, 2007


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