Bank of America coming to Racine near Broadway
Posted 3/9/2007 by alison
Come fall, the Bank of America is moving into that lovely old terra cotta building at 4756 Racine, adjacent to the Riviera Theatre. A renovation is currently underway, as you can see from our essay in scaffolding.
Property manager Greg Berkowitz says the owner, who he declined to identify, is now scouting for tenants to fill the upper floors.
Yo's truly can think of some far more interesting ways to fill this highly visible building than another bank, but it's heartening to see a large, stable institution display confidence in Uptown's revitalization, and this development can only spur further improvements in this beautiful, but rundown corner of Chicago. On a slightly different note: at what point, do you think, does a neighborhood have too many banks?
Comments
3/9/07
Uptown Girl said:
It's not so much a matter of "too many" banks but "not enough" services. I work in an area where several national companies have established tiny branch offices in storefronts over the past two years; some of them closed after less than a year in business. Why? Because there are only so many ATM-plus-one-teller operations a neighborhod can handle. Maybe if someone interested in, say, obtaining a mortgage or business loan would have someone on-premises to talk to right away, even if only to take an application to send downtown for processing, the bank would get a good "rep" and maybe some more local business. But all too many of these branches are coasting on the national name, offering minimal services. So where does the prospective loan or safety-deposit-box or land-trust customer go? To the big boys downtown, or a large regional branch. More truly "local" institutions, which flourished all over town until the mid-1990s, would be welcomed by "underserved" neighborhoods. More "McBanks" crammed three-to-a-block with minimal services evidently are less welcome, judging from the quick in-and-outs I've seen.
Fashion freak said:
Darn…another potentially great ladies boutique spot going to a bank! Uptowners, especially newcomers, are pretty fashion-conscious and a clothing store that could offer both affordable "street" and "business" attire would be quite welcome here.
don brown said:
once again it seeems that the only development occuring in Uptown Sqaure is in the 48th Ward.Check the ward boundry lines and you will see that this building, the Border Books building, the landmarked byuilding being renovated across the street from Borders and Gunisson Street lofts are all in the 48th ward as is the Uptown Theater which if rumor is right will be renovated later this year. Thanks to Mary Ann Smith's and her staff's work Uptown Sqaure will be revitalized despite what ever Helen Schiller does or should I say does not do.
Sean said:
Well said Don!
3/10/07
uptownguy said:
This building is not in the 48th Ward. It is in 46. It's next to the Riv, also in 46. Give Shiller some credit. She deserves it.
3/11/07
Christopher said:
uptownguy — I am almost 90% certain the building mentioned in this article is not in Shiller's ward. The El tracks are the border between 46/48 in our area.
3/12/07
uptownguy said:
It's a little confusing at that intersection, but the west side of Racine and the south side of Lawrence are in 46. I'm positive. Riv, attached office building and the Aragon = 46. Borders, Uptown Theatre, Bridgeview Bank = 48.
Brian said:
I just went to the Department of Zoning website and zoomed in on that intersection. uptownguy is right, the west side of Racine (south of Lawrence) is in 46. Very strange ward boundaries in that area. I guess gerrymandering happens everywhere!