Latest Esquire proposal passes latest hurdle

There may finally be some movement at the Esquire Theater on Oak Street.  It's been five years since the multiplex shut down, leaving the city's most posh shopping district with a giant vacancy.

This week city council's Plan Commission approved a plan which would replace the theater with three brownstone-scale retail buildings like the others lining Oak Street.  The facade has landmark status, so it will be fun to see how the architect manages to blend the old and the new here.

The buildings can be no taller than three stories, or 60 feet each, and no hotels are allowed.  That's a big concession to local NIMBY groups who blocked plans for a boutique hotel in this location fearing additional traffic and noise.

The current proposal still requires additional approvals before we see anything happen, but there were men in hard hats touring the inside of the building just yesterday, so things look good.

For those of you worried about what happens to your neighborhood Citibank branch, that's moving into the new Barney's New York building.  It will be on the corner of State and Oak where Papa Milano's used to be.

Oak Street diamond may shine again

The former diamond of Oak Street may get a chance to shine again.

The Chicago Tribune reports that South Africa's DeBeers company is thinking about opening a boutique in the former Esquire Theater building.  

The Esquire has been vacant for quite some time.  Plans to redevelop it into a hotel were nixed by the neighbors who worried about traffic and noise.  A quiet upscale diamond merchant, however, would fit in nicely.  After all Harry Winston and Graff have both been welcomed to Oak Street with open arms recently.

It's worth noting that Chicago is a little behind on getting a glance from DeBeers.  The company has operated a shop in Houston's Galleria mall for at least a year, and probably longer.

Another note -- the same Tribune article reports that Penguin in the 900 North Michigan Annex (Rush Street) will open on July 30th.  But there are signs up inside the mall stating that Penguin is already open for business.  Hmmm...