Real Estate & Development News
Lifelong neighborhood resident Dayna Calderon shared her memories and updates about the McKinley Park Community Area on the Thursday, July 18, Extension 720 with Justin Kaufmann show from WGN Radio. During the broadcast, which also featured other Chicago topics, Calderon expounded on activities in the park and neighborhood, what the future may hold for development and gentrification, and general life in McKinley Park.
"We've got a really strong community right here," Calderon said on the show.
The McKinley Park segment begins at approximately 13 minutes, 45 seconds into Kaufmann's broadcast and runs for 15 minutes. Click here to visit the WGN Radio website and listen to the episode.
A vacant 6.4-acre property at 3711 S. Ashland Ave., Chicago, is set to begin a full rehabilitation and build-out this summer, with industrial property developer Logistics Property Company announcing the pending construction of a warehouse designed to fulfill "last mile" shipping needs.
"There aren’t any other sites like this in the city," said Logistics Property Company's Aaron Martell, executive vice president for the firm's Midwest region. "It’s a rarity to find a site this close to the central business and entertainment districts. The project provides true one-hour delivery to The Loop."
Read more: "Last Mile" Warehouse on Ashland Avenue to Break Ground This Summer
Joe Filisko and Eric Noden will perform at the McKinley Park Farmers Market on July 7.Major development projects are champing at the bit to get into the McKinley Park neighborhood, and 12th Ward Alderman George Cardenas is beginning a new practice of public review for each new development proposal. This begins with the McKinley Park Community Development Meeting at 6 p.m. on Tuesday, July 2, when Cardenas invites all neighborhood residents and stakeholders to view plans and interact with developers for three proposed building projects: the $60 million Parkview projects at 2139 and 2159 W. Pershing Road, the overhaul of the ice storage warehouse and U.S. Cold Storage Co. building at 2055 and 2011 W. Pershing Road, and a proposed photo studio at 38th and Hermitage.
A local duo of bluesmen and past farmers market favorites returns on Sunday, July 7, for the Farmers Market Concert: Joe Filisko & Eric Noden. The boys will belt out the blues starting at noon alongside the McKinley Park Farmers Market, which runs 10 a.m. to 2 p.m. Stretch out in the morning with Yoga at the Farmers Market, then stick around for some Bocce Ball with friends and neighbors while noshing on fresh market fruit, pastry, coffee, tamales and more.
Read more: Development Meeting, Music and Kids Fun Lead Events Lineup This Week in McKinley Park
Many McKinley Park neighborhood homeowners have access to locally focused development programs designed to improve and protect the value of their homes, attendees learned at the Wednesday, June 19, meeting of the McKinley Park Development Council. The Southwest Home Equity Assurance Program is a State of Illinois initiative designed to support property values, said program Executive Director Victoria Gaspar, and it offers other services such as an interest-free $10,000 home improvement loan.
"This is our most popular program," she said, noting that this was one of many low- or no-interest loans available to group members. These loans, ranging in size from $1,000 to $30,000, come alongside the program's original service of ensuring home values, Gaspar said, which will actually pay claims to homeowners if their property values fall.
Read more: Interest-Free $10K Home Loan Access Detailed at Development Council Meeting
The real estate in Chicago's McKinley Park neighborhood is again in the news with the Curbed Chicago publication placing McKinley Park among a number of "ideal" neighborhoods in which to purchase a home versus renting. The Curbed article "Where to Live if You'd Rather Buy Than Rent" notes McKinley Park's affordability, its close proximity to downtown and its rapidly appreciating home prices as factors in making the list.
Read more: Curbed Highlights McKinley Park Among "Ideal" Neighborhoods to Buy vs. Rent
