"That is an appropriate location on Belmont for that size of building. The building that is being torn down is ok, but what Lakeview and the city need is DENSITY.

Bring it on."

-irishpirate, commenting on our recent post about The Winchester, a high-rise planned for 3175 N Hudson in Lake View.

The project was on the market a year ago as H3177, but the layout and exterior have since been retooled by a new marketing team. Yo's readers are still split on the development, with some calling it a "faux building," and others (like irishpirate) highlighting the positive aspects.

We enjoy getting email from our readers, and it's even better when they pose a question to you, the YoChicago reader. Today we received a missive from Local Realtor, a Yo regular, bemoaning the sorry state of some developments in Chicago.

"Last night I was watching the PBS documentary on folk musician Pete Seeger. One film clip showed him singing the famous Malvina Reynolds (1900-1978) song "Little Boxes" with its famous description of look-alike suburban houses "all made out of ticky tacky and they all look just the same."

I suppose I'm "dating" myself by saying that I remember that song being played on the radio back in the 60's. But it springs back into my memory every time I look at a poorly-designed or -renovated housing development, whether a "luxury" condo building in downtown Chicago or a collection of "new construction" single family homes in a former cornfield.

How about it, Yo'ers? What housing monstrosities have you seen lately that make you want to cry out, 'Malvina, come back! We need you!' "

We can't resist a good batch of grousing. Care to offer up some likely candidates?

"What's usually missing from these discussions are the huge amounts of waste matter and energy costs that are produced every time a building is torn down vs. a rehab project. So what if the building is "green?" It doesn't matter much if the net byproduct is negative."

- Dmac, commenting on a post about Chicago's green aspects.

Dmac makes a valid point that building new - even if it's green - sometimes doesn't measure up versus a sensible rehab.

It's worth noting that according to Arthur C. Nelson's 2004 report for The Brookings Institute, about half the existing real estate space in the United States will be rebuilt by 2030. Green building advocates look to this sustained momentum as a catalyst to improve technology and move the entire industry forward - thereby narrowing that energy-cost gap Dmac mentions above.

"On one hand [buyers] hear all the bad national market news. On the other, they lose properties they actual love in multiple offers or by never offering.

If you buy with your heart… things seem to turn out okay. I have bought places that felt right for us without a second thought and life goes on."

- Eric Rojas, commenting on yesterday's video of the Park Kingsbury in River North.

For more perspective on buying versus waiting, check out our video interview with Garry Benson and Christine Lutz, of Garrison Partners Consulting.

"Chicago's run down, inadequate public transportation system will be a major obstacle to getting the Olympics. The visitors from all over the world will need to rely on public transporation to move around the city. Even though doomsday has been averted, the capital funds to really upgrade the system are not there. Some of the major competing cities have much better public transportation systems. For example, Madrid has a high-speed rail line from the airport to the center of the city."

- CaptainVideo, commenting on yesterday's post about Chicago's $1 billion Olympics bid.

Even with the recent $530-million transit bailout, the CTA is still lacking sufficient funds for necessary improvements and upgrades. In recent years, the Chicago Reader has done an admirable job raking the muck surrounding the CTA's seesawing budget crises, including this item from September 2007 questioning the viability of the Block 37 superstation. Wonder if it'll be completed by 2016?

"Gut rehabs are still going on at a pretty good pace. A stroll around Buena Park reveals at least a half dozen gut-rehabs that are currently under construction or about to occur. Part of this is due to the fact that we have a difficult alderman to deal with, and it's easier to get a 1-for-1 unit conversion than to ask for a zoning variance.

"Gut rehabs definitely extend the life of older housing. If you go to most parts of Western Europe, you'll notice that almost everything 'new' is a gut rehab. I think it's the way that most older neighborhoods should be treated if restoration isn't a viable option. And of course, many buildings aren't worth rehabbing.

"What will happen if there is a major recession on the horizon? It won't be as bad as many think for the 'emerging neighborhoods.' The pace of gentrification will only stall temporarily in places that have a critical mass of new monied residents. It's the less certain bets like East Garfield Park, Humboldt Park, and Pilsen that have a less certain future. Rogers Park will be fine, though I worry that condos won't hold their peak 2005 values. But huge price drops are highly unlikely unless we have a MAJOR recession. No one is going to sell a condo they bought at $250,000 for $150,000, for instance. Few people have the equity to drop a price that far, and even a rash of foreclosures wouldn't have that impact."

- UptownR, in a discussion about the Community Beat blog post, "Is the condo bust good for some 'hoods?"

"Lee is right: the availability of public transit adds thousands of dollars to the value of every property in the city - particularly the downtown commercial properties which are valued at closest to 'par value' (and which pay a much higher property tax rate than we homeowners, anyhow). It's only fair that those of us who profit from transit pay to support it.

Indeed, I'm a stickler for 'taxation nexus,' the logical connection between what's being taxed and what government service that tax pays for. Schooling raises incomes, both individually and socially, so we should pay for schools with an income tax. My own condo's value has nothing to do with the nearby schools, but everything to do with the nearby 'L' stop - my property taxes should fund that service instead."

- PC, bumping a recent discussion about a real-estate transfer-tax hike tied to the recent CTA rescue plan.

As Joe Zekas mentioned this weekend, Chicago Realtors have launched a campaign against the 40-percent tax increase. The City Council's finance committee will review the levy today at 10 a.m.

"I’m a firm believer that [incentives] are a bad move for both the developer and the people buying. There’s no pricing integrity, and you run a real risk of having your unit devalued shortly after you’ve bought it."

-Alan Lev, president of Belgravia Group and newly minted president of the Home Builders Association of Greater Chicago.

Lev, a 20-year industry veteran, spoke with us today about the state of high-rise development heading into 2008. His comments are at odds with those from a buyer (quoted in today's Trib) who expects a laundry list of incentives to accompany any future purchase.

Lev says Belgravia has steered clear of incentives, even going so far as to offer safeguards to the buyer that pricing will remain stable. One current development, 565 Quincy, offers a guarantee of credit back to the buyer in the unlikely event that the developer lowers prices.

"I'm waiting for the seller to bring down the price at least 10 percent, to include a $65,000 parking space or a year of free assessments. It's a buyer's market."

- Nirali Shah, a 29-year-old pathologist assistant who tells the Trib she won't close on a condo until a developer ponies up some incentives.

Although the sale of new downtown condominiums dropped 35 percent in the third quarter of 2007, new units are still on the way. Gail Lissner of Appraisal Research Counselors expects almost 6,300 new units to be completed this year, 50 percent more than in '06 completions and 100 percent more than in '05, according to the Trib. More than 1,300 of those new condos are still on the market.

"The community owes a lot to Mr. Gouskos. His commitment to that area really helped turn it around. He was here long before it was popular to do such an exciting venture as this, so I wish nothing but the best for him and this project."

-James Cappleman, commenting on yesterday's post about the Theater District Lofts' second phase in Uptown. It's still in planning at 4750 N Winthrop Ave, but developer Jim Gouskos is moving forward a mixed-use cinema development nearby.

Could this be the same James Cappleman who ran against 46th Ward Ald. Helen Shiller in 2007?