Project Profiles
NORTH BRIDGE CHICAGO, ILLINOIS
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North Bridge is referred to by its developer, John Buck
Company, as “City Building Chicago-Style. The mixed-use entertainment complex covers
approximately five million sq.ft. spread over nine city blocks with 800,000 sq.ft.
re-served for office space and more than 800,000 sq.ft. designated for retail and
entertainment uses. Fronting Chicago’s famous Michigan Avenue and extending west to
State Street, the development forms a new and dominant hub of activity at the foot of the
city’s “Magnificent Mile.” The complex will combine big names in big spaces. Already opened are a 95,000-sq.ft. DisneyQuest, a 39,000-sq.ft. Virgin Megastore, and a 34,000-sq.ft. ESPN Zone. A 260,000-sq.ft. Nordstrom, the first in downtown Chicago and the third largest in the 95-store chain, is scheduled to open in September. Spaces from 589 sq.ft. to 5,000 sq.ft. are still available in the corridor leading to the department store. Chang’s Asian restaurant and Joe’s Stoned Crab seafood restaurant are two of the many eateries that have opened in the complex. Five hotels offer more than 2,300 hotel rooms. There are more than 800,000 sq.ft. of office space, some 2,500 theater seats, 457 luxury apartment units, and 2,300 parking spaces. |
The development has been long in coming. The John Buck Company
became involved in 1982 when the American Medical Association (AMA) hired the company to
develop a master plan for the AMA’s holdings in the area known as River North. The
AMA eventually decided to dispose of its holdings there. After resigning as the
association’s real estate advisor, The John Buck Company purchased three blocks from
the AMA, including a block that it subsequently jointly developed with the association
into 515 North State, the current AMA headquarters.
Later, with Morgan Stanley Real Estate Funds II, The John Buck Company purchased the six
remaining blocks of what now makes up the North Bridge district. In order to make the most
of its acquisition, The John Buck company decided to concentrate on the areas of the
district where it could add the most value while bringing in other companies to assist in
their areas of expertise. As a result, the company brought in Morgan Stanley Real Estate
Funds II as a financial partner and the Kravco Company, based in King of Prussia,
Pennsylvania, to handle retail leasing.
North Bridge opened its first section, containing the AMA offices, in 1992. The rest of
the sections have opened and are enjoying approximately 99 percent occupancy. The last
opening is the section anchored by Nordstrom and housing 35 specialty shops. This phase is
already 75 to 80 percent pre-leased and scheduled for a September 2000 opening.
For lease information, contact Amy Curran, The John Buck Company, 610-768-6300.
THE CASTLE TWIN FALLS, IDAHO
| Twin Falls is a town of 32,000, located appoximately
125 miles from Boise, hardly a place to expect a castle. However, if plans go ahead as
scheduled, there will be one lowering its drawbridge in November. |
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The project is being developed by James and Marlene Marion, who are also acting as general
contractors and leasing agents. James brings experience in apartment development whereas
his wife, Marion, is experienced in retail. With the help of Sun Valley architect David
Waldron, authenticity will add to the entertainment venue. Exterior touches, like the
waterfall and moat, will serve dual purposes by making the facility look like a real
castle while taking care of water runoff.
The Castle itself is also multipupose, serving as an entertainment venue with authentic
touches like suits of armor and providing educational opportunities for visitors. Built on
15 acres, the facility will offer the 5,200-sq.ft. Castle Restaurant serving family-style
dinners and offering catering, a 35,000-sq.ft. grand hall seating 6,000 guests to be used
for concerts, weddings, parties or meetings, and 20,000 sq.ft. of retail and office space.
Tenants will include a hair salon, a toning salon, jeweler, gift shop, costume rental, and
a game arcade. Retail and office space is still available.
Local artists will be exhibited in The Castle’s Showcase of Treasures, while The
Vendors’ Market will offer spaces for 100 vendors weekly. Other planned activities
include various games and Bingo.
According to the Marions, Twin Falls is expanding, and the only direction it could go is
toward The Castle. Demographics show a population of 141,045 within a 50-mile radius
earning an average income of $50,820. There are no large retail or entertainment centers
in the area.
For further information, contact Marlene Marion, Castle Development, 208-733-7445.