Target develops Wilson Yard

[GM]

From Crains:

Target says Wilson Yard deal close
By: Thomas A. Corfman Sept. 26, 2008
(Crain’s) — Target Corp. says it is in final negotiations to anchor a $151-million mixed-use development on the Wilson Yard site in Uptown that has been plagued by delays.

And despite the turbulence in the market for construction financing, developer Peter Holsten is again close to arranging financing for the proposed project, sources say. The development, which would also include 178 units of affordable housing, would be on the site of a former CTA repair yard that runs along the west side of Broadway between Montrose and Wilson avenues.

Minneapolis-based Target rarely comments on any location until a deal is done, but on Wednesday a spokeswoman said: “We continue to be very interested in opening a Target store (at Wilson Yard), and are currently working to finalize our real estate transaction at this time.”

Earlier this year, Target expected an announcement in June. Now, the company expects an announcement in “a couple weeks,” she said. She declined further comment.

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uptown wilson yard - gardner denver - quarter earnings - target confirms talks - profit targetSponsored by  Mr. Holsten, president of Chicago-based Holsten Real Estate Development Corp., declined to comment. In April, he said he expected construction to start in June.


Was this part of the transfer yard area at one time with the CTA?



GM

[TBurke]

The transfer yard between the \"L\" and the Milwaukee Road was actually at the Buena Yard which was located north of Irving Park Road and south of Montrose.  It\'s gone now, with part of the ROW converted into the linear Challenger Park.  Wilson Avenue Yard was used by the CTA for passenger and MOW equipment, and prior to that, predecessor Chicago Rapid Transit, and even earlier, the Northwestern Elevated Railroad (not to be confused with the C&NW steam railroad).

The newest issue (Autumn 2008) of First & Fastest magazine has a piece on the former CTA/CRT freight lead being torn down for expanded parking at nearby Truman College.  The L used this lead on a long, concrete bridge to reach the Milwaukee Road at ground level.  

Two sets of rusty Milwaukee Road tracks still stick up through the sidewalk on the south side of Waveland Avenue, just northwest of Wrigley Field.  That\'s the northernmost relic of the Milwaukee Road itself on the C&E.  I walked over them this past weekend at the Cubs Cardinals home series and wondered how many baseball fans even recognize them for what they are?  Do they think it\'s odd that railroad tracks would be so out of place?

[jack]

The bridge around Truman College has been torn out now, the only part left is a short segment between Montrose and the south end of the new Truman parking area.  Kind of sad to see all that infrastructure go, first the Wilson yard area and now this connector finally gone.  But, even CTA had stopped using it to store MOW equipment on and the bridge was starting to grow trees.