McKinley Park Neighborhood Plan

Although many of the buildings within the CMD are currently underutilized, their unique character and historical significance are neighborhood assets that can aid their future redevelopment. In 2014, Preservation Chicago listed the CMD as one of the most endangered sites in the city. Many of the CMD buildings are registered under the National Register of Historic Places, which offers financial incentives for rehabilitation projects. Encouraging preservation and reuse of historic buildings for modern uses would help activate the once bustling CMD, retain its unique character, and ensure that it remains a strong economic asset for the neighborhood.

Consider applying for Chicago Landmark designation

Landmark status can enhance a building’s prestige, as well as increase the value of the property and its real estate marketability. Moreover, a building’s landmark status unlocks various incentive programs to owners who make significant investment in rehabbing their property. The community should consider creating a landmark district that encompasses the CMD’s historic buildings, which would incentivize rehabilitation and preservation of this important asset. The process for creating a landmark district requires a substantial number of residents to express their desire to create such a designation to their alderman and the Commission on Chicago Landmarks. MPDC should organize a neighborhood campaign that can facilitate community discussions and educate the public about the benefits of the landmark status designation. Historic preservation organizations, like Preservation Chicago, have provided educational and outreach resources that could be used for these efforts.

DPD should encourage developers to seek resources and financial incentives that preserve and restore historic buildings

Historic preservation financial incentives should be used to rehabilitate and preserve the unique character of the CMD. Property owners who are interested in receiving incentives for rehabbing qualifying properties can participate voluntarily. Available incentives include the Federal Historic Preservation Tax Incentives program, which encourages the rehabilitation and reuse of historic buildings by offering a 20 percent rehabilitation tax credit. Moreover, the Illinois Historic Preservation Tax Credit Program provides a 25 percent tax credit to building owners who undertake rehabilitation of their certified historic structures. Other potential incentives include the city’s Façade Rebate Program, funded through the Community Development Block Grant program. The program offers up to a 50 percent rebate on approved rehabilitation projects of industrial buildings. An eligible “façade” is the front face of the building, which typically faces the street and contains windows and the principle entrance to the building.

Identify educational opportunities to promote the CMD

Promoting the CMD can help efforts to preserve and rehabilitate its historic buildings. MPDC should coordinate with advocacy organizations like Preservation Chicago to educate the public on the historic significance of the district, and encourage adaptive reuse of its buildings. Preservation Chicago champions the city’s historic built environment through advocacy, programming, and events, such as lectures and tours. MPDC could use educational materials created by Preservation Chicago, like neighborhood preservation toolkits, which empower resident stakeholders to become advocates of historic preservation in their communities.