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I was in Corktown last weekend and the amount of construction on Michigan Ave is wild
I mean, I knew things were moving fast, but I counted at least 4 major commercial sites being worked on between 14th and 18th. One of them, that old two-story brick building, looked like they were gutting it completely. It got me thinking, with all this new retail and office space coming online in the next year, what's the plan to fill it all? Are rents going to jump again? Anyone else seeing this kind of pace in their neighborhood?
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the_oscar1mo ago
Yeah, it's the same over in West Village. They finished that new mixed-use building on Kercheval last fall and it took months to lease the ground floor retail. The property group ended up offering three months free rent to the coffee shop that finally moved in. Makes you wonder if the demand is really there for all this new space, or if they're just building it hoping someone shows up.
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