City Land Sale Proposed for 49-Unit Housing Project
A 49-unit mixed-income building would be constructed at 5036-44 S. Prairie Ave. in Washington Park through a City land sale proposed to City Council today by Mayor Lori E. Lightfoot.
The $12 million project would rise on .58 acres of vacant land that the City would sell to the developer, 5050 Prairie LLC, for $300,000. Proceeds would be used for environmental remediation needs.
The four-story, 64,600-square-foot building would include 4,400 square feet of retail space. Ten percent of the planned apartments would be affordable for tenants earning up to 60% of the area median income.