Field Harbor Parking Condominium - Questions? -
[Cached Version]
Published on: 11/5/2006
Last Visited: 11/16/2008
Delaney envisions the finished space outfitted with an array of flat-screen TVs on the walls, a tricked-out sound system, a full wet bar, steam shower and other extravagances.
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"We'll put the wet bar and the seating over here and the flat-screen TVs on these three walls," Delaney is saying as he stands in what is now a 20-by-20-foot storage space piled with old hoses, signs and buckets.
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Delaney has reason to think so.
A car collector has already bought a similar private-entrance space-along with eight regular parking spaces-and will do the finishing himself.
He paid about $500,000 for the deal, Delaney says.
The two-story Field Harbor was built in the 1980s on what had been Illinois Central tracks beneath the row of apartment towers on East Randolph.
It operated as a rental parking garage but, Delaney says, never thrived because it was too far from Michigan Avenue.
That was before the downtown-living concept took off and way before Millennium Park flowered across the street-and up four flights of stairs-from the garage.
Delaney bought it for $4 million, or $10,000 a space, in 1997 on behalf of New York parking pasha Armand Lasky, who owns more than 12,000 rental spaces in Pittsburgh, St. Louis and Houston, according to Delaney.
Delaney bought it for $4 million, or $10,000 a space, in 1997 on behalf of New York parking pasha Armand Lasky, who owns more than 12,000 rental spaces in Pittsburgh, St. Louis and Houston, according to Delaney.
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Delaney is equally bullish on his million-dollar auto penthouse at Field Harbor, believing its status appeal got a boost when the other one sold.
He is positively uncorked when he talks about his plans for the space.
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Delaney feels the same way about his penthouse.
"After the third wife and the boat, a guy is going to get into collecting cars," he maintains.
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value in owning a downtown parking space near Michigan Avenue and Grant Park," said Dick Delaney,
executive vice president of Field Harbor Parking LLC.
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"Within five months, the garage also will have a new $500,000 commercial elevator for 8 to 10 people that will connect the lower-level parking garage to Randolph Street," said Delaney.