Let's get one thing out of the way: Dubin Residential still hasn't obtained a construction loan for the Lofts at Bridgeport Place. Without that, any discussion about rehabbing the old Spiegel building will remain firmly in the realm of speculation. That said, Dubin did manage to convince the Commission on Chicago Landmarks and the City Council to give the building Landmark designation, and they're still planning to convert it into lofts. As a Chicago Landmark, any changes the building's exterior must be approved by the Commission on Chicago Landmarks. Nevertheless, renderings on the official Lofts at Bridgeport Place website still show a building with dozens of black balconies attached to the building. "Those are really old renderings," Dubin says, confirming that his company's plans no longer call for balconies.
That same old rendering shows a three-level parking garage on what is now a vacant lot directly west of the Spiegel Building. Dubin says the garage is still part of the plan. In November, Crain's reported that the mortgage used to acquire to the property had come due. Yesterday, principal Dubin told Curbed that he had dealt with that loan, but he declined to elaborate.
· Developer: Landmarking could help stalled project [Crain's]
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