Real Estate & Development News
The McKinley Park Development Council presented itself to the public at its inaugural meeting on Wednesday, January 17, launching a set of initiatives to benefit the McKinley Park neighborhood. Foremost among these is building a neighborhood development plan as part of the council's acceptance into the Local Technical Assistance program of the Chicago Metropolitan Agency for Planning.
Tony Adams, one of the founding members of the nascent non-profit group, outlined the neighborhood plan as focusing on the Central Manufacturing District, the commercial corridor on 35th Street and transit-oriented development around the 35th Street and Archer El stops. Getting input and feedback from the community will be an essential part of building the plan, Adams said, and the council has opened a steering committee to do so.
Read more: Development Council Launches McKinley Park Initiatives at First Meeting
According to a recent article in Crain's Chicago Business, the McKinley Park neighborhood's home prices are on the rise, with the median sale price of a single family home increasing 14.3 percent in 2017 through November. The data, based on a December report from the Chicago Association of Realtors, pegged the current median sale price of a single family home in McKinley Park at $251,500.
A record-setting sale of $506,000 for a new home on Marshfield Avenue represents the highest amount paid for a McKinley Park home, breaking the previous 2004 record of $480,000 for a neighborhood home.
Alongside Pilsen, Crain's called McKinley Park a "hot Chicago neighborhood" for real estate, describing it as "a less trendy neighborhood west of Bridgeport."
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The McKinley Park Advisory Council and its Dog Park Committee solidified plans for 2018 at its January 8 meeting at the McKinley Park fieldhouse. Notably, development of the dog park project continues to move forward, with the committee receiving the latest site plans and a detailed breakdown of costs from the Chicago Park District.
The total cost of the dog park is $370,000, all of which must be raised by the dog park committee and supporters from the local community. Regular fundraisers are chipping away at this amount, including an upcoming dinner from 5 p.m. to 9 p.m. on Sunday, January 21, at Chipotle restaurant at 1132 S. Clinton St.: Buy dinner and mention the dog park, and 50 percent of the proceeds will be donated to the effort.
Read more: McKinley Park Advisory Council Plots Dog Park Development, 2018 Programs
The McKinley Park Neighborhood Plan is now online! Click here to read the plan.The McKinley Park neighborhood can look forward to receiving a comprehensive development plan thanks to the McKinley Park Development Council's successful application to participate in the Local Technical Assistance program of the Chicago Metropolitan Agency for Planning (CMAP).
The Council, a neighborhood non-profit newly formed in 2017, held its first workshop on Monday, October 17, 2017, where the CMAP program status was confirmed and attendees learned about local zoning practices via a presentation from Chicago property expert Benet Haller.
Read more: McKinley Park Lands Neighborhood Plan Via New Development Council
The McKinely Park Community Garden, on hiatus in 2017 due to the sale of its previously donated site, is set to resume activities in 2018 with garden plots at a new, permanent location. Sited in the large split between the northbound and southbound lanes of Damen Avenue north of Pershing Road, the garden's new home has official approval from the Chicago Park District and participants gearing up to get it ready for 2018.
Read more: McKinley Park Community Garden Plots Return in 2018
