City-Owned Land on Southwest, Northwest Sides Proposed for Redevelopment

December 14, 2016

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City-owned land on the Southwest and Northwest Sides will be sold and developed for new uses through plans approved today by City Council.

Masonry restoration contractor B.E.T.O.N. Construction Co. will purchase a 30,000-square-foot vacant parcel at 3620 S. Loomis Place in McKinley Park as outdoor storage for materials and equipment. The property will be sold for its appraised value of $165,000.

The former 36th Ward yard office at 2817 N. Natoma Ave. in Monteclare will be sold to developer Zitella Management LLC for $150,000 for redevelopment as market rate housing. An onsite garage and office building will be demolished as part of the project. Appraised at $650,000, the 25,000-square-foot property was marketed on behalf of the Department of Planning and Development by real estate firm Jones Lang LaSalle, which will receive a 2.75 percent commission. Only one purchase offer was received on the property.

 

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