By Ed Lowe
Senior Writer
The recent announcement by Northwestern University stating that they are closing the dormitory facility at the old Lake Shore Athletic Club at 850 N. Lake Shore Dr. has real estate developers hovering like bees around the hive. Alan Cubbage, vice president for University Relations, told Inside how the building went from essential to superfluous over the last few decades.
The property was purchased by Northwestern in 1977 for use as a dormitory for its nearby professional schools. Built originally as an Athletic Club in 1927, the 17-story building has been used as a dormitory facility for graduate students at the nearby Northwestern downtown campus. As Cubbage explained, grad students in the Law School and Medical School are generally out of school a couple of years before entering the professional schools and have become accustomed to living in apartments. The single dorm room configuration of Lake Shore doesn't appeal to them, many of whom are married. Consequently, occupancy is now only 127 units out of the 449 available rooms. The property is not sustaining itself economically.
In addition, the building has been in sore need of repairs, some of which have been completed and others of which are under way. The building has been shrouded with scaffolding for the past several years. It is estimated that a minimum of $10 million would be needed to repair the building. Converting the property into apartment style units would cost roughly $35 million. The idea is simply not practical.
"Given how much we would have to charge students if we were to undertake the renovations, it's simply not cost effective to do so," said William Banis, the University's vice president for student affairs.
As a result of these problems, the University has announced that, following the end of this academic year, the property will be closed. Food service and other amenities now contained in the building will be moved to Abbott Hall at 710 N. Lake Shore Dr., only two blocks south of the present building. The University will assist students in finding appropriate housing for next year.
According to Eugene Sunshine, another vice president, "No decision has been made on what to do with the Lake Shore Center Building." However, this is a prime piece of lakefront real estate which would have developers salivating at the prospect of purchasing the land, demolishing the old building and rebuilding it with yet another high-end high-rise structure.
At one time, the American Hospital Association occupied the property immediately south of the Lake Shore property. It was sold, demolished and replaced with new condominiums, many with asking prices in the $3 million range. The prospect for yet another building of this sort seems to be good.
Neighborhood groups are beginning to circle their wagons and organize for the anticipated fight on the size and density of any new construction. Ald. Burton Natarus (42nd) will certainly be a party to the discussions on any proposed rebuilding of the property. Another group had, at one time, dreamed of having the present building landmarked because of its elaborate terra cotta exterior, but this idea fell by the wayside. The building is now in such poor condition that renovation is impractical for any use. |
