RALF SEIFFE |
Chicago Columnist Illinois Leader Political Strategist Analyst Business Advisor Entrepreneur Chicago Illinois Review |
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SEIFFE: Found In A Dumpster Behind The CourthouseMonday, April 14, 2008 By Ralf Seiffe REDACTED Dear
Alderman REDACTED: This
follows up on our conversation in the men’s room at the Hibernian Democrat
Outfit (HDO) last weekend. I would like to hire your law firm as counsel for
the initiative outlined below. I have attached a retainer/campaign
contribution, so I presume this letter falls under the attorney client
privilege. As
we discussed, my firm believes there is great development potential in the
parcel bounded by LaSalle on the west, Clark on the east, Randolph on the
north and Washington on the south. For reasons explained below, we believe
that typical negations to acquire the property with the current occupant--at
nearly any price--will be unsuccessful. For that reason, we will need your
legal and political assistance. By
way of background, the parcel has an old and not particularly attractive
structure in place. Our plan would be to demolish and replace it with
a brand new, state of the art mixed use structure. The building will
consist of retail, commercial and 450 residential condominiums with an
average selling price of approximately $875,000 each. We believe that
this is an evidently higher and better use for the parcel than the existing
structure. The
current occupants are primarily a family business that’s been on-site
since the 1950’s. They have been in control continuously except for
a short period when the family leased out the premises to others who were
not particularly successful. Since the late eighties, a family member
has been operating the business and they have become well established at
this location. They claim that they could not be successful at any
other site and that any move would inconvenience them and their clients.
That may only be a negotiating point but my personal take is that they would
probably fail elsewhere or in any other line. Complicating
the situation is the fact that the occupants actually have two businesses
located on the site, each operated by a son of the business’ late founder.
They are actively promoting them and, unfortunately, their revenues are
rising much faster than the city or the county’s economic activity,
generally. Accordingly, they probably have a good argument that the
businesses are viable. Since
we’ve been unsuccessful in acquiring the property, it will take action by
the city to condemn and seize the parcel. This will be much easier to
accomplish in light of the Kelo Decision as the current structure is so
under-assessed that it actually pays no real estate taxes at all! Our
proposal would correct this loss to the city and county by providing
infinitely more in annual revenues. This alone is reason enough to
dispossess the current occupants. Despite
the viability of the businesses the brothers run, it occurs that in addition
to the Kelo strategy, we could make a credible case that the property has
the elements of blight. I understand the city already has a fairly
elastic definition of blight and that little effort would be required to
categorize this site as blighted. For
example, the structure is old and unattractive, given its location in the
ever-growing and ever-freshening Loop. The building looks like a Greek
Temple and, at 100 years old, it no longer meets contemporary appearance
standards. Replacement is warranted. Moreover,
I understand that it takes an incredible crew to maintain the building.
Apparently, the place is so difficult to service that the owners must pay
extraordinary salaries—compared to other landlords--to keep the work force
dependable. Despite all this effort, we also understand that the
building has become so dysfunctional that no activity occurs above the fifth
floor. If our informants are correct, the fifth floor may be the only
one that actually functions. Also,
the occupants are scofflaws when it comes to illegal parking.
Occasionally, the occupants allow dirty dump trucks to park on the street,
overnight, sitting with drivers reading the paper, engines clattering, as if
they were there to do some work. The only thing they’re
accomplishing is warming the globe and that particularly offends the
neighbors. In
addition to that, the community is rife with speculation that the building
serves as a “cover” for some sort of serious criminal activity. I
note that several of the business’ employees have found themselves in deep
legal trouble over the last several years. To be fair however, the
owners have repeatedly said that they know nothing about these activities,
at any time or in any place. Unfortunately, we have picked up some
sympathy in the community because several of these unfortunates are
life-long, close friends of the owners. Suspicion
of what’s really going on in the building may explain why there are so
many police officers hanging around and maybe some feds. Whatever the
reason, this extraordinary police activity is a burden the community should
not be forced to bear. In this regard, the property is no different
than a rowdy saloon and we should let the community know it’s a good
reason for revoking the building’s certificate of occupancy. I
am sure that there are plenty of other reasons to find the property blighted
and combined with the Kelo decision, I am certain of our ultimate success.
Nevertheless, I realize the current occupants will put up a fight and that
they have prevailed in earlier--and, as I understand, quite
regular--attempts to kick them out. So, let me assure you that there
is plenty in our budget to see this project through to its end. We
look forward to your experience and “strategic thinking” to help us in
our mission to improve Chicago. Should
you become aware of any colleagues who deserve a campaign contribution, for
the good of Chicago, please let me know. As always, there will be a
contingent fee above and beyond your hourly rate. Time
is of the essence because our investment bankers have discovered a foreign
interest which is likely to propose buying the property and executing a 99
year leaseback. Let’s get started! Sincerely
Yours, REDACTED Ralf Seiffe advises business start-ups and product launches from Chicago, Illinois and is a political analyst and columnist for the Illinois Leader and Illinois Review. Webmaster Contact: Alynn Patzer alynn11111@aol.com
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