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It may push down retail rents but it will push up other rents, as now developers have to set aside retail space that there may be no demand for, when it could o
by ams6110 9y ago
It may push down retail rents but it will push up other rents, as now developers have to set aside retail space that there may be no demand for, when it could otherwise go to increased supply (lower rents) for residential or office or whatever.
- toomuchtodo 9y agoAdding an additional floor to a multi-story building during construction is not overly expensive (helped a friend with a building project in Lincoln Park). EDIT: Caveat is once you go from mid-rise to high-rise; price jumps, but your per sq ft costs will continue to decline from ~$200/sq ft to $175/sq ft (Chicago market).