Land Acquisition Authority Authorized for Commercial Parcels in South Chicago
City Council today approved the City’s acquisition authority for four private properties on an underutilized commercial block in South Chicago.
The properties, which include three vacant buildings and an empty lot, are part of a Request for Proposals (RFP) issued by the Department of Planning and Development last November for the northwest corner of 89th Street and Commercial Avenue. The chosen developer for the RFP will fund the properties’ acquisition costs. The City will use the acquisition authority only if the developer is unable to finalize purchase agreements on its own. The selected respondent to the RFP is expected by summer 2021.
The 25,000-square-foot RFP site is part of Mayor Lightfoot’s INVEST South/West initiative, which is leveraging resources from public, private, and nonprofit sectors to revitalize portions of 12 commercial corridors in 10 South and West side neighborhoods.
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