ChicagoDowntown / Loop

Checking out the roof at 914 West Hubbard

by Joe Zekas on 7/1/13

Crain’s Chicago Real Estate Daily recently reported that a 24-unit apartment building at 914 W Hubbard in West Town had been refinanced with a $6.7 million loan. The previous loan had been in foreclosure.

According to Chicago’s Building Data Warehouse the property recently received a permit to convert the existing 22-unit building to 24 units, the number for which it was originally permitted.

The building has been cited repeatedly for building code violations for apparently not returning city inspector phone calls or providing roof access to arrange a refrigeration inspection. The most recent citation was issued on October 30 of last year, which was just six days after I took the above shot from the roof of the new K2 apartment high-rise.

It’s impossible to be certain from the picture, but there appear to be large puddles of water in various spots throughout the roof of the building. If that was water, it’s easy to understand why an owner wouldn’t want a building inspector on the roof – and why anyone renting a top-floor apartment might want to proceed with caution.

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Related posts:

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  3. Construction update – Hubbard Place
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{ 4 comments… read them below or add one }

Britt Whitfield July 1, 2013 at 5:37 PM

Work of a bad developer who is clearly dead broke. S

Reply

Joe Zekas July 1, 2013 at 5:43 PM

Britt,

Dead broke developers don’t get approved for $6.7M loans.

Reply

britt whitfield March 25, 2014 at 3:44 PM

actually they do Joe, plenty or nearly bankrupt companies and developers get refinanced- why all the building violations? And you have no idea regarding the structure of the refinancing. Hence the word “troubled” that you used in your article and that it was in foreclosure.

Reply

Joe Zekas March 25, 2014 at 4:46 PM

britt whitfield,

Your comment reminded me of the days in the early 80s when I refinanced millions of dollars of troubled construction loans on my developments – at a time when I was dead broke. I appreciate the correction.

Reply

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