Allerton Hotel put up for sale

Hey I took a mobile phone picture of this place yesterday. Hadn't thought of it in years in fact, but I knew it was the place to be years back. Not sure if it still is or at least I don't hear about it.

Story from Crain's:

The New York investment firm that recently took over the Allerton Hotel has put the property back on the market, the latest twist in the battle to control the Michigan Avenue landmark.

Petra Capital Management LLC, which took ownership of the Allerton after an auction in late June, has hired Cushman & Wakefield Sonnenblick Goldman to solicit buyers for the 443-room hotel, confirms Mark Gordon, executive vice-president, principal and head of the New York brokerage’s U.S. lodging group.

“We’re going to be marketing through the month of July, and we anticipate an aggressive transaction,” he says.

Mr. Gordon declines to discuss pricing, but a person familiar with the property says Petra is hoping to sell the Allerton for $79 million to $80 million, not much less than the $84 million that the previous owner, San Francisco-based Chartres Lodging Group LLC, paid for it at the peak of the market in 2006.

The price will determine whether Petra, the hotel’s former junior lender, can recoup its investment and avoid a legal confrontation with DiamondRock Hospitality Co., a Maryland-based real estate investment trust that bought the senior loan on the Allerton in May.
...
The Allerton does have one advantage: Because it’s not part of a big chain, the hotel offers buyers the opportunity to own a prominent property outright, rebrand it and sign a management agreement with a major hotel operator.
“I can’t remember the last time a North Michigan Avenue hotel has been available fee simple and unencumbered by management and franchise agreements,” Mr. Gordon says.

What ritzy hotel brand might be interested in having a place right off the "Magnificent Mile" and right up the street is the Drake Hotel as well.

I just saw the Wiki article on The Allerton. Tip, Top, Tap was for the lounge that was closed in 1961.

Lee Bey: The Eye opens on State Street

I took this picture earlier this month. This eyeball was at Pritzker Park on Van Buren & State. Thanks to Lee Bey, we know more about this object:

The three-story steel reinforced fiberglass eye sculpture–called, appropriately enough, “Eye”–debuted this week at downtown’s Pritzker Park.


The work is by Oak Park artist Tony Tasset and is actually modeled after one of his own eyeball. Produced by the Chicago Loop Alliance, the giant unblinking blue eye, veins and all,  will be joined by Tasset’s companion piece, “Cardinal”,which is 156 street banners along State Street featuring the state bird. The banners are designed to flutter like a flipbook, giving the illusion of the Cardinal flying down State Street from Congress to Wacker.

I like the “Eye.” It’s a commentary on our Age, if you ask me. Security cameras, cellphone cams, red light cameras, youtube videos—we are all watched as we watch. Life is increasingly like that brilliant “everybody’s gotta watch everybody else” scene in “Casino”. That and I was fascinated by the detail Tasset was enable to incorporate. The longer you look at it, the more details you can find.

Well Bey came to a much deeper meaning about this piece than I did. My thoughts on this is that it was something different and didn't think much about it with regards to symbolism. You know, this thing has become an instant hit since Bey wasn't the only one who has been taking photos of it.

American Recovery Act sign

Located off the Dan Ryan at 75th St. This is what Marathon Pundit would refer to as Obama campaign signs.

Got to talk about my new BlackBerry 9700

I finally bit the bullet and bought that BlackBerry I wanted. I bought what I believed the most current phone I could find.

Well obviously there are some limitations to doing some of the things I do on  PC on a mobile phone. Some sights including my Blogger blogs aren't conducive to being accessed on the BlackBerry Bold 9700. Although some plusses is that I saved bookmarks to those sites that I know I would use especially local news sites, social networks, and even transit information.

I can check the radar and current weather conditions on the go. If I have any pictures I want to share on various social networking sites it's with better ease than with my previous phone. Especially if I can access those sites with applications or directly on the mobile versions of such sites.

The camera function I would like to play with a lot more. Even better there is a little card where the photos or video can be stored upon in addition to storing them directly onto the phone. At least that will save me the trouble of deleted images just to have space on the phone. Hopefully with a USB wire I can connect the phone to a computer and upload any pictures off of the phone to be saved elsewhere.

With this phone I got a Bluetooth Headset with it well the AT&T store wanted me to get some accessories with it, but it only increased the amount I was going to pay. If I got these accessories separately it might costs more, but then I didn't really care much about that. Especially if all I really cared about was a decent case to carry my phone in.

Anyway for the first time I decided to utilize the Motorola H270 Bluetooth device (picture at right) that came with my purchase. I don't necessarily like the design but it seems simple enough to use. I connected it to my phone with ease, but using voice recognition is going to take some work. And I got to get used to all the buttons as well.

Also, the voice recognition aspect of this device is going to take some getting used to. Once or twice the phone almost dialed an unintended number when attempting to place a call. I don't know if it has trouble with my own voice or there's just something wrong with that device.

Either way I'm very happy about the purchase. And with that memory card attached to it, I just got to say I may not have to carry a camcorder or a digital camera. It's still possible that a camcorder or camera will be a part of my equipment when I am waking about. ;)

1969 Pontiac Ventura Being Restored

Artistmac from Chicago is back and this is his 2nd video about a classic Pontiac being restored by a local mechanic who specializes in restoring old GM vehicles. An earlier video featured a 1969 Pontiac Firebird 400. He also has shown videos of his 1984 Pontiac Fiero that he has taken to that local mechanic when he needs to fix it up.

Here are his comments with regards to today's GM vehicles:

Take note, GM. 40 years from now, will people be taking the time and energy to restore CTS's, Lucernes and FWD Impalas to their original condition? Doubtful.

Here's a gem from your glorious past, being restored by Chicago mechanic Dave Armstrong. This '69 Ventura (a trim package on the Catalina) spent almost all of its life in Palm Springs. That brown coating you see on the rear undercarriage and differential isn't rust -- it's sand. When it's power-washed, it'll look as clean as the underside from the differential forward.

It's great to see the front end without the fenders, showing off that 428 V8, disc brakes and front suspension in all their glory.

As you can see, that's the original Harrison air conditioning unit. Black Morrokide upholstery and Pontiac 5-spoke mag wheels will complete the picture. It'll be another showpiece, just like his green Firebird 400.

You know this is a guy who's lived a long time and has seen the changes in our automobiles. In addition to his Pontiac Fiero he also has a 1979 Chevrolet Caprice in his garage.

Do you think today's cars will be restored by anyone with the interest to keep today's classics on the road?

Sunday night

Well there was a lot of traffic near Jackson Park for the fireworks on the south side of town. So this picture reflects that as I was riding along Stony Island on the western edge of Jackson Park.

First Blackberry pic

I took this yesterday on the northwest corner of State and Van Buren a group of men in shrouds with a sign "The 12 lost tribes of Israel".