Wednesday, April 10, 2013

Five Things I learned from Dirk Lohan about Mies van der Rohe's IBM Building

The IBM Building before Trump Tower - click images for larger view
. . . from a presentation architect Dirk Lohan gave at a Tuesday press event for The Langham Hotel Chicago, which will open in the Mies van der Rohe designed IBM Building (330 North Wabash) this coming July:
 
1.  Unlike buildings like Aqua even today, the IBM, completed in 1972, incorporated thermal breaks in its steel construction that insulated the building from outside weather conditions and made it much more energy efficient than most of the skyscrapers of its time.
2. When you walked over the IBM's south plaza, you were walking over the next day's news.  The space beneath the  plaza was controlled by the Chicago Sun-Times, which operated out of its own building across Wabash from the IBM until it was demolished to make way for Trump Tower.  The below-grade space was where the Sun-Times stored its supply of massive roles of newsprint.
That is why the plaza along the river edge is basically a flat surface that goes vertically down to the river without any gesture to bring the river into this [IBM] development . . . I've always regretted that in a way because I think it would have been wonderful to open up the plaza and cascade down, similarly to what Trump has done since then.
3.  The newsprint was delivered via the train tracks that run under the IBM, under Marina City and points west, part of an original railyard dating back to the time when the Wells Street Station was on the current site of the Merchandise Mart.  These tracks ran right under the center of the IBM, and so instead of the usual central service core for elevators and staircases, the IBM actually has two cores, split on either side of the old tracks.
4.  If they had followed an initial scheme done by the Mies office, the IBM might well be known today as The Bow Tie Building.  That was because Wabash originally ran in a way that cut a triangle into the middle of the IBM site, making the usual rectangular box impossible.
Mies was willing to live with it . . .  It was a triangular piece that came right into the property that was public right-of-way for Wabash Avenue, and it would have meant to build the building with a reduced width in the center of the building and then towards the north and south make it wider again as a typical office building.  And we developed this scheme in the Mies office that expressed that.  So it was in a way very un-Miesian, but we of course rebelled and we said why don't we go and talk to the city about IBM acquiring it.  And in the end, they did. 
5.  “The building was also fairly expensive at that time, ” recalled Lohan. “I think it cost $33.00 a square foot.”    Looking at the IBM's enduringly iconic place in the Chicago skyline four decades later, I'd have to say it proved to be a pretty good bargain.
first floor hotel lobby.  Image Courtesy The Langham Chicago
Lohan was asked by the owners to design the ground floor lobby of the new Langham Chicago, and we'll talk about that - and give you a tour of the hotel -  in our next post.

Monday, April 08, 2013

Return of the Flown Gargoyles

photograph: Wiss, Janney, Elstner Associates, Inc.  - click images for larger view
One of the amazing thing about old skyscrapers are the details the architects took pains to create even when they're scarcely visible from the ground.

A case in point is Karl M. Vitzthum's Steuben Club building on Wells, now reborn as the apartments of Randolph Tower.  We related the story of its origins, decline and rebirth last week, and got an highly illuminating email - with photos - from Brett Laureys of Wiss, Janney, Elstner, the company behind the spectacular restoration of the terra cotta facades.  
photograph: Wiss, Janney, Elstner Associates, Inc.
Laureys related the story of these striking gargoyles.  Although an integral part of 1929 building's original design, they were removed during a down-and-dirty 1960's patch-up and replaced with limestone slabs.  Working with a historic photograph, WJE had the gargoyles remade by terra cotta specialists Gladding McBean and now, after a half-century's absence, they're back where they belong, just above the equally spectacular two-story-tall flying buttresses way up at the 39th floor.
photograph: Wiss, Janney, Elstner Associates, Inc.
Laureys also provided some key information on the dark granite we were so critical of in our original article, which we've now incorporated into the expanded revision - with more photos:

Read:
Baron von Steuben Refashioned - Randolph Tower: Restored Faux Gothic with a Candy Core

. . . and speaking of gargoyles . . .
When you walk by the Ford Oriental Theater on Randolph, do you ever get the creepy feeling that you're being watched?  Well, look up . . .


. . . Way up, to the top of the building.  
Perched 300 feet above the sidewalk, these may be the world's only guard dogs with a bird's-eye view.

No Maas Tuesday, but Stroik, Hillebrand, Mars (Roman) Holy Name, Mischa Leiner, Bill Latoza, John Norquist and more - New Additions to the April Calendar!

We've just added over half a dozen more great items to the April Calendar of Chicago Architectural Events.

First the bad news:  MVRDV's Winy Maas has cancelled his Tuesday lecture at UIC, to be rescheduled this Fall.  However, that afternoon, architect Duncan G. Stroik will be at Fourth Presbyterian Church for the Society of Architectural Historians/Chicago Chapter (registration was officially closed last Monday, but if you're motivated, engage your inner resourcefulness.) 

This Wednesday, April 10th, the Graham has a panel discussion on The Artist as Philanthropist: Artist-Endowed Foundations as a New Force in Cultural Philanthropy.  This Saturday, the American Planning Association kicks off its five-day 2013 National Planning Conference at the Hyatt Regency.

On Thursday, the 18th, Frank Lloyd Wright's Unity Temple in Oak Park hosts 99% Invisible's Roman Mars, while on Friday the 26th, the IIT Armour College of Engineering will be at Maggiano's Little Italy with a lecture by Richard Kristie of Wiss, Janney, Elstner on The Repair of Holy Name Cathedral, and on Saturday the 27th at Francis Parker, Argonne Lab's Don Hillebrand will talk about Chicago: A Leader in Energy and Technology Breakthroughs.

This week, Mischa Leiner of CoDe will be at UIC on Monday the 8th, Bill Latoza discusses Walter Netsch's Legacy in Chicago's Parks for Friends of the Parks at the Cliff Dwellers on Tuesday, the Congress for the New Urbanism's John Norquist will talk about The Market Embraces Urbanism at CAF lunchtime on Wednesday.

And there's much, much more, this week and beyond.  When we first put up the calendar, we said we had over 50 items.  Now, we're a week into the month and we still have over 50 great items.  Check out the April Calendar of Chicago Architectural Events.

Saturday, April 06, 2013

Professional Courtesy: Chicago River Bridges Rise to let the Baby Float By

Saturday, was the first bridge lift of the season. It's one of Chicago's great rituals, the great bascule bridges over the Chicago river rising up like awakened giants to the sound of unseen motors revving and giant gears straining, and of the bells . . . 
Of the bells, bells, bells, 
Of the bells, bells, bells,
Bells, bells, bells -
Poe would have had a field day on a morning like this, standing on the side of the river, composing another stanza to his famous poem as the infernal, relentless clanging bore a hole into his cranium. 
click images for larger view
There used to be a guy from CDOT, a short and corpulent Napoleon of the bridge lifts, who would break up the monotony by screaming insults at pedestrians who weren't clearing the walkways fast enough for him.  I haven't seen him for a while.  This morning, the only relief from the frenetic ding-ding-ding came from the honking of a pair of displeased geese.
The inaugural armada passing through the spans today was, truth to tell, rather pathetic in number, but it was upstaged by a spectacular centerpiece, a couple of tugs guiding down the river a giant barge containing the replacement northern span for the Wells Street Bridge, next to which it will remain docked until April 26th, when work crews will begin disconnecting the old current span, and floating it out the way.  Then the barge with the new segment will be moved into place, and the workers will begin connecting it in place, with the job scheduled to finish by May 6th.


Read:
The Bridge On Beside the River Chicago - Reconstructing Wells Street
All Quiet on the Wells Street Front

Wednesday, April 03, 2013

Baron von Steuben Refashioned - Randolph Tower: Restored Faux Gothic with a Candy Core

Click images for larger view
 So, let's the negative stuff out of the way first.

If you're smitten by the beautifully restored Randolph Tower, at Wells, originally built for The Steuben Club in 1929, you can take a bit of additional pride that you, dear taxpayer, pretty much paid for it.  You just don't own it, and you won't get any taxes from to pay for schools or other city services until 2034.  As we wrote three years ago, Ronald Reagan may have thought it was some grandmother in Garfield Park, but it's a project like Randolph Tower that's the real Welfare Queen.
What started out in 2006 as a $78.4 million project with a TIF component of $8 million (about 10%), grew the very next year to a $97.5 million project with $10 million in TIF funds. After the crash of 2008 caused two of the project's three lenders to back out, a new Randolph Wells TIF was created just for the Randolph Tower.  The final tab?  It's estimated at $145,000,000 with the TIF contribution escalating to $34 million, nearly a quarter of the total investment.  Of the rest, there's another $8 million in a grant from the Illinois Housing Development Authority, $40 million in tax-exempt municipal bonds backed by IHDA (the AFL-CIO Housing Investment Trust is picking $20 million of those bonds), $6.6 million in Low Income Housing Tax Credits, and $30.2 in historic tax credits.  The developer?  Their skin in the game consists of $13.9 million (less than 10% of the cost), plus another $3.2 million in deferred development fees.
The good news is that developer is actually making good on the standard mandate that 20% of the units in a TIF-backed project be affordable housing.  Unlike most developers, who simply weasel out of that commitment by kicking in just $100,000 per unbuilt affordable unit into a city trust fund, Village Green is actually offering up 63 affordable apartments to qualifying applicants at rentals priced at less than half those of the market-rate units.
Negative number two:   You can certainly understand why they did it - the salt and chemicals Chicago uses to combat snow are hell on terra cotta - but the dark granite at ground level looks much darker than the material used in the original design.  As it rises high from the sidewalk, it detracts significantly from the the part of the building seen by the most people.  The granite makes the first floor facades look like an old geezer with his pants hiked up to his armpits

After this article was originally published,  Brett Laureys of Wiss, Janney, Elstner, to which developer Village Green turned for the exterior restoration, took the time to write me about the investigations that went into the stone:
Please note that the historic photo you published is very washed out.  We did find some reference to dark colored granite bases in our historic review, and we found some small fragments of dark granite behind the 1950's granite.  On a building of this vintage, they commonly used a contrasting color at the base of the building as an accent.  From all the facts and data, we believe this is the original color.  The height of the granite matches the original drawings and is taller than normal due to the vertical scale of the elevation.  Look at it from a distance and you'll see why that height was used.
As anyone who remembers walking by the building during its long derelict period can attest, the restoration of the crumbling terra cotta facades is a major triumph.  The Chicago Architecture Foundation has left up on the web the visuals used for a great presentation by Laureys that gives a thorough, richly illustrated overview of the project.  To aid in their efforts, Wiss Janney turned to The National Building Museum.  In 1982 the NBM had acquired 50,000 drawings from the Northwestern Terra Cotta Company, the Chicago-based firm which had produced terra cotta used on the Steuben Club.   For Wiss Janney, the museum digitized 80 of the original Steuben Club blueprints.
photograph:  Wiss, Janney, Elstner Associates, Inc.
The $22 million terra cotta facade restoration was “was one of the largest ever done in Chicago,” says Laureys.  “To be able to restore all the terra cotta and granite back to original is rarely done.”  Of the building's over 90,000 pieces of terra cotta, approximately 12,000 units were completely replaced, 10,000 reset, and about 10,000 repaired in place.  “Another really great thing we did,” adds Laureys, “was to restore the gargoyles at the 39th floor of the building.  They were removed in the 1960's and replaced with flat limestone.  Gladding McBean remade the terra cotta gargoyles for us from a historic photograph.” 
photograph:  Wiss, Janney, Elstner Associates, Inc.
So now, after half a century, the gargoyles again stand guard at the capstones of two-story-high flying buttresses.
 Considering how 1920s Chicago's coal smoke air could filthy up even the shiniest new surfaces in no time flat, the Randolph Tower may well look better now than the day it opened.
photograph:  Wiss, Janney, Elstner Associates, Inc.
The path from Steuben Club to Randolph Tower can be said to have begun on March 15, 2001, when potentially murderous chunks of the building's terra cotta came crashing down onto the street and Loop L tracks.  Over the next three days, city crews hastily erected steel-topped canopies all the way across Randolph Street and the L tracks on Wells.  The city sought reimbursement from the building's owners for what was claimed to be “hundreds of thousands of dollars” of ‘Make-Safe’ repairs, which eventually led to the owners filing for bankruptcy.  Finally, in 2005 the property was sold to Village Green, which had previously done apartment rehabs of the historic Burnham/Atwood Fisher Building and, more recently, a handsome rehab of the MDA City Apartments on Wabash, which we wrote about last October.



A Century and half of History at Randolph and Wells

Not unlike Adler and Sullivan's Schiller Theater, the Steuben Club tower had its roots in Chicago's vibrant German-American community.  In the early part of the 20th century, nearly a quarter of Chicago's population was said to have been of German ancestry.  That didn't save it from the great wave of German-bashing that came with World I, when sauerkraut was renamed ‘Liberty Cabbage‘ and Boston Symphony Orchestera Music Director Karl Muck, born in Germany but a Swiss citizen, was arrested and interned in Georgia.

After the war, German-Americans sought to combat anti-immigrant prejudice by forming the Steuben Society of America, named after Baron Von Steuben, a Prussian-born Revolutionary War general who was said to have been the man who transformed George Washington's rag-tag army into a formidable fighting force.  When the 2,500 Chicago members decided to build themselves a clubhouse, they thought big.
image courtesy Chicago History Museum
They bought the corner at Randolph and Wells that since 1852 was the location of one of Chicago's first grand hotels, the Briggs House, which was rebuilt after the Great Fire of 1871 and stood on the site until demolished for the Steuben Club.  John M. Van Osdel was the architects for both buildings. It was in his suite at Briggs House that Abraham Lincoln learned he had been nominated for the Presidency of the United States by the Republican delegates meeting at The Wigwam convention center, at Lake and Wacker, just a couple of blocks away.

In the wake of great fire of 1871, the hotel had featured prominently on the cover of Frank Leslie's Illustrated Newspaper in the drawing ‘The Terrified Population in Front of the Briggs House’.  (The image you see here is taken from the Chicago History's Museum excellent The Great Chicago Fire and the Web of Memory website.)
Image courtesy Chicago History Museum
In May of 1927, the Chicago Tribune reported that the Steuben Club had paid $1.5 million to acquire the Briggs House and its site, beating out the Frontenac Athletic Club, which was also said to looking at the property for its own building.   The Steuben Club said they would be building a 32-story tower, with a hundred sleeping rooms and a 1,200 seat theater, for which a lease to a New York theatrical firm was said to be already under negotiation.

One day the following February, trucks lined up at Briggs House's rear door to cart away for auction the red plush sofas, wooden bedsteads, marble washstands and other furnishings.  A Tribune reporter described how a carelessly dropped cigar stub started a grease fire whose smoke “poured out into the surrounding streets . . . the savory odors of roasts cooked in the Briggs House ovens for more than two generations.  It was probably the odors of the buffalo steaks, venison chops, bear steak, and mallard ducks for which the old grill was famous.”

The next week, in a display of eminent domain, Chicago-style, City Commissioner Michael Hughes threw up a police cordon around the four-story Leonard Hotel, also on the Steuben Club site, stopping guests from entering, and shutting off the water.  In 1929, another lawsuit charged the club's officers with building themselves office suites so lavish  - 135 square foot reception room, 420 square foot office, plus full bathrooms - as to constitute a misuse of funds.  The case was ultimately resolved in arbitration.

The cornerstone for the new building was laid on September 17, 1928,  both Baron von Steuben's birthday and the 141st anniversary of the adoption of the U.S. Constitution.  City Building Commissioner Chris Paschen made an appearance dressed up in revolutionary-era attire, complete with “powdered wig, buff and blue uniform, and high boots.”  A similarly-attired trio portrayed The Spirit of 76.  Last year, workers at Randolph Tower came across the time capsule that had been placed in the cornerstone that day, which included a copy of the Constitution, a bible,  “that future generations may know that we were a God fearing people,” copies of newspapers, a 48-star flag, and a banana smoothie.  New, contemporary items were added to time capsule, just as when the it was first opened in 1955, and it was re-interred in the walls to again be rediscovered by a generation still to come, or space aliens investigating the ruins of our civilization.  Place your bets now.

As related by the commission staff's usual excellent report on the building, issued in 2006 when it
Karl M. Vitzthum
received official designation by the Commission on Chicago Landmarks, the Steuben Club found its architect in Karl M. Vitzthum.  Born in Germany in 1880, Vitzthum had emigrated to America in 1902, and came to Chicago in 1914 to work for the Burnham Company.  In 1919 he founded K.M. Vitzthum and Company, and went on to design prominent buildings throughout the city, including a number of banks, the Old Republic Building and St. Peter's Church on Madison.

His design for the Steuben Club, like the one he did for another, nearby skyscraper, One North LaSalle, was a response to Chicago's first zoning ordinance.  Passed in 1923, it lifted the height restrictions on new buildings in exchange for mandating setbacks as buildings rose, to keep natural daylight from being blocked by shear-walled towers.  The final setback could cover no more than 25% of the site.

And so the Steuben Club has two basic parts. The 27-story base, containing retail and offices - many originally occupied by club members -  takes up pretty much entire site.  On top of it is an 18-story, telescoping polygonal tower that was home to the club, with a large ballroom and skylit swimming pool at the top of the large block below.  The basement held a rathskeller.

A great beginning to be sure.  Timing?  Not so much.  Not long after its opening in 1929, the club was hit hard by the Great Depression.  Optimistic revenue projections proved evasive. In the mid-1930's, the club wound up selling floors 31 to 43.  The interior was rehabbed.  A 1950's modernization erased much of the original design, and the building became a regular visitor to tax court.  Another 1980's remodeling removed “nearly all of the historic finishes.”  Which takes us into the 21st century, falling terra cotta, and the more recent history described above.
I actually first noticed the rehab last week.  Walking by the building, I stood looking through a window at this stairway inscribed with the names of Chicago architects, Karl Vitzthum on the bottom rung.  The manager on duty graciously came out to invite me inside, and I took the lobby shots you see here.

I suppose there could be some mourning that the original lobby design wasn't restored, but from what I can remember of it, it was dark and not especially distinguished.  Which is what I would say about the building, itself.   I know this will get preservationists upset, but a lot of money - TIF's, subsidies and tax breaks - has been poured into this building, and I still wrestle with the idea that, no timeless masterpiece, it would ultimately have been the wiser decision, in the larger view of the built city and its finances, to have let it go.
But we didn't, and so we have what could said to be a rather happy balance beneath the new, as represented in the sparkling restored Gothic-styled terra cotta of the exterior, and re-designed interiors by Hartshorne Plunkard Architecture that are refreshingly free from fidelity to the previous, rather bland historicism. 
In an interview in the January, 2012 CTBUH Journal, Ray Hartshorne and Paul Alessandro refer to what they did at Randolph Tower as less a restoration than a “rehabilitation . . . We try to restore not just the image of the building, but more so the life inside the building through combining old qualities with new ones.”
Ballroom turned fitness center.  Image courtesy Village Green
The huge old ballroom, with its tall, Gothic framed windows has been rehabilitated as a fitness center and club space, complete with super sized chess pieces and a . . . pig.  The Olympic-sized swimming pool again has light streaming in through the top skylight.
Image courtesy Village Green
If there were any doubt, the lobby proclaims clearly this is not a less-is-more kind of place.  It has a sort of overstuffed, modernist Baroque exuberance, with bold patterns, bright colors, and chairs that looked that they could be refugees from Pee-Wee's Playhouse.  (And I mean that it in a good way.)
Not at all what you'd expect to find within that smug girdle of glazed Gothic tracery, it's like opening up a potato and finding a party inside.  It may not age well, but right now the untidy, insistent eagerness to please is like a shot of caffeine.  It may make you a bit jumpy and nervous, but against the self-serious proclivities of the architecture of the Loop, it packs a youthful, welcome kick.

Late listing: Lecture on J.L. Silsbee at Oak Park Library tonight.

We'll soon be adding a number for additional items to the April Calendar of Chicago Architectural Events, but for now here's a really late heads-up about a lecture by Christopher Payne, tonight (Wednesday) at 6:30 p.m., at the Oak Park Public Library.  J.L. Silsbee and the Making of an Artful Residence.  Check out the details here.  Payne also has a great blog, Searching for Silsbee, here.

Ronald Reagan Wrecked

click images for larger view
The great Lee Bey is reporting today that the University of Chicago is currently demolishing the apartment building where Ronald Reagan lived as a small boy.  DNAinfo.com Chicago,  which also has some nice photos, is saying the University promises to put up a plaque.

The structure was already cast in the deep shadows of Rafael Viñoly's hulking new Center for Care and Discovery (translation: it's a really big hospital).  When I wrote about this last December, it was less about history and more about the way that the U of C is super-densifying its campus at the expense of any sense of community or human scale.


Read: Say Goodbye to Ronald Reagan's Apartment: The Supply-Chaining of Hyde Park

Monday, April 01, 2013

Godfrey, My Man - You're Alive!

click images for larger view
When last we left The Godfrey Hotel Chicago, in March of last year, it was still enshrouded and dormant as a pupa that had been lingering in that state for almost four years, ever since the money run out and construction halted at the LaSalle and Huron site for what was originally known as the Duke Miglin hotel, to a design by Valerio DeWalt Train.

The troubled property had just been acquired by Oxford Capital Group, the folks who even now are  putting the finishing touches on The Langham Chicago, the 316-room hotel being constructed on twelve floors of the Mies van Der Rohe designed IBM Building, at 330 North Wabash, anticipating a July opening.  Last year, the 212 room Godfrey was also announced for a 2013 completion, and while their website now just says “Coming Soon”, things are definitely stirring.
With the coming of spring, the building has shed its winter coat.  The fabric sheeting that protected the innovative staggered-truss frame when the project was in mothballs has been stripped away.  According to website where you can follow the hotel's construction, it was not entirely effective. “The old construction site sat for a long time so we needed to remove all the old fire proofing on the building and apply new.”

The facade framing is in place . . .
. . .  the exterior walls continue to be affixed . . .
Spring-green Securock glass-mat insulation makes its eye-opening appearance . . .
With the exception of the still empty hole on the site of aborted Chicago Spire, the Exquisite Corpses we wrote about in 2008 have all revived as part of a 2013 construction boom that also includes a new Virgin Hotel in Rapp and Rapp's Old Dearborn Bank Building at Wabash and Lake . . .
giant Angry Bird, Virgin Hotel, 203 North Wabash
 . . . and the long-stalled Waterview skyscraper on Wacker, where work has resumed with a new name (111 West Wacker) and a soaring new crane.
111 West Wacker

Read:
Mummy No More: Valerio's Staybridge About to Escape its Wrappings
The Mummy of River North
Staggered Truss: not as Painful as it Sounds
Exquisite Corpses
Waterview has Risen from the Grave! (as 111 West Wacker)



If You Build It, Will They Come? Opening Day Shocker: Cubs to Move Downtown?

Click images for larger view
It was the opening day surprise no one had seen coming.    After months of unresolved negotiations between the Ricketts family, city officials, community groups and rooftop owners, the Chicago Cubs on Sunday officially spurned an offer of free land from suburban Rosemont and revealed they will build a completely new stadium in downtown Chicago.
At a hastily called press conference at the bottom of the 86-foot wide hole excavated for Santiago Calatrava's abandoned Chicago Spire project, a sedated Tom Ricketts stood next to a beaming Chicago Mayor Rahm Emanuel, who called the situation a win-win . . .
Number one, the Cubs stay in Chicago. 
Number two, Chicago will have a first-class, Olympics-ready stadium that guarantees the Cubs will be a Chicago team for the next 50 years, and beyond. 
Number three - there is no number three.  
Number four, the neighborhood, the rooftop owners and the fans will still have Wrigley Field. It's a museum quality facility, a historic landmark, and so we're making it . . . a museum.  Everything that people have loved about the Cubs through all these years when the closest they got to a World Series was when the team bus got lost coming back from Busch Stadium, everything about that great Wrigley experience - the atmosphere, the food, the rooftop bleachers -that's going to be there. 
There'll be a game, every day, during the regular season.  They won't be real games, but they'll look just like it.  The players will be animatronic.  I've seen them.  They're amazing.  There's a little problem right now with the animatronic players having more credible careers than the guys signed to the actual Cubs roster.  But they're working on it.

Santiago Calatrava, who, as you may know, was to design the world's tallest building right where we're standing now, is coming back to Chicago, back to this site, to build what I believe will be the greatest stadium in the world.  This amazing hole we're at the bottom of this morning will fulfill its original purpose.   But . . . in a new way. 
As you know, right to the west of where we are now, we're in the process of constructing the Navy Pier Flyover, which will provide an express path for bicycles over Grand and Illinois.  Now, we're adding ramps, from that path, that will lead right into this hole.  People will be able to bike to Calatrava Field, and park - securely - in the largest bicycle garage the world has ever seen. 
And, we believe, there will still be enough space left in this hole to bury the crushed hopes of Cubs fans for many, many decades to come.
The new, two-block square stadium will actually cross Lake Shore Drive and make use of land, now undeveloped, originally earmarked for a park honoring Jean Baptiste du Sable.  Emanuel anticipated possible objections . . .
As you know, we're marking the 10th anniversary of Mayor Daley closing down Meigs Field, on Northerly Island.  The intention was to make it a park, but that didn't happen.  The only thing that's happened is the temporary Charter One concert pavilion.  It's been very successful, and by that I mean it brings in money, which, frankly, is more than you can say about all those plants on the rest of the island. 
We've done studies, very extensive studies, and again, frankly, every one of them has come to the conclusion that vegetation is a drag on the economy we can no longer afford.  You do have, and I'll be the first to admit this, contracts for spraying pesticides, for watering, for basic gardening.  But if Chicago is to be a world-class city, we need more, and, as mayor, it is my responsibility to make sure we get it.

And so, at DuSable Park, we're cutting to the chase.  Instead of ten years of waiting for a park, we're going to skip directly to not having a park - ever.  We're still working the numbers on how much money this will save. I haven't gotten all the specifics.  But I believe I have heard the word “gazillions” included in the conversations.
Budget Director Alexandra Holt explained the finances behind the deal.
The financing for this truly amazing stadium will also be truly amazing.  Funds from the new Entire North Side TIF district will allow the City of Chicago to guarantee the Ricketts family profits of at least $50 million a year on Wrigley Field, which will now be a private museum, much like the Field Museum, but with more curators.   These TIF funds will also finance the $1.5 billion cost of constructing the stadium, plus an anticipated $1.2 billion in overruns in executing Mr. Calatrava's unique corkscrew design, for which we soon hope to conclude negotiations with National League Baseball over the telescoping configuration of the playing field.

What this means in the end, however, is that the City of Chicago will have sole ownership not only of the stadium, but of the Chicago Cubs, which will become the first major league sports team under municipal ownership.  We anticipate major efficiencies from this, beginning with the replacement of  players with multi-million dollar contracts by members of the family of Cook County Assessor Joseph Berrios.   This, alone, we expect to result in savings of tens of thousands of dollars each year.

More importantly, the City of Chicago will also be sole owner of the casino which, we are confident, will soon be enabled by legislation in Springfield, and which will occupy the two bottom-most levels of the hole we are standing in now.  The Ace in the Hole Casino will be a state-of-the-art facility, with world-class restaurants, luxury accommodations, and a 30,000 niche columbarium for gamblers who have expired on site, or just want to be closer after they die to where all their money went.

We are especially grateful to the Village of Rosemont, for putting us in touch with some of their most effective associates in developing an innovative system to reclaim lost revenues from the markers of overextended gamblers.  We believe that, working together, we will make write-offs a thing of the past, and set a new standard for the gaming industry.  We also appreciate the very persuasive negotiators our friends in Rosemont sent in to convince the Ricketts family that his plan was in their best interest.  Accordingly, we are working very closely with Speaker Madigan to advance in Springfield the Slot Machines for Outlet Malls within 1,000 feet of the Balmoral Exit bill.  
Looking up to the vagrant sunlight 70 feet above him, Mayor Emanuel restated how the new stadium plan extends his vision for Chicago . . . 
I want to stress again, this stadium will not only provide the best baseball viewing experience in any city in America, it will also be an Olympics quality stadium.  What does that mean?  It means that next time, things will be different.  I know, in the past, some of my predecessors (Mayor Daley) have promised Chicago an Olympics and it didn't happen.  I'm going to change that.  I believe - and some of the best business leaders in the city tell me the same thing - that with this stadium, Chicago will host not only the 2020, but the 2024 and 2028 Summer Olympics, the 2022 Winter Olympics, and the Lingerie  Football League Championships for at least 16 of the next 30 years. We don't have the final figures yet, but we believe it will bring 3 trillion dollars in new spending to Chicago over the next two decades - give or take 3 trillion dollars - and it will allow us to buy every homeless person in Chicago a condo in Miami.
photograph: Bob Johnson
There's an old saying that when we find yourself in a hole, stop digging.  Well, my friends of the press, look around you.  We're at the bottom of the biggest hole you've ever seen.  But when it comes to digging deeper, this administration is just getting started.
Read:  Analysis by Ben Joravsky
Read also:  Daley Center in Line for $250 Million Makeover?
And: Pictures of Wombats