Real Estate & Development News
After two rounds of bidding solicited by the State of Illinois, the Damen Silos will be purchased and redeveloped by the MAT Limited Partnership helmed by Southwest Side industrialist Michael Tadin Jr.
- MAT Limited Partnership helmed by Southwest Side industrialist Michael Tadin Jr. lands winning bid for 23-acre site on the Chicago River.
- Silos to be demolished and replaced with a business park to consolidate corporate offices for MAT businesses.
- MAT bids $6.52 million for the property, more than twice the minimum amount.
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With support from the Adrian Dominican Sisters, the Aquinas Literacy Center in Chicago's McKinley Park neighborhood will administer a three-year program to support education, community development and employment to support immigrants.
- Aquinas Literacy Center in Chicago's McKinley Park neighborhood to administer three-year program to support immigrants.
- Funding comes from the Adrian Dominican Sisters, which has a long history in McKinley Park.
- Program to start in 2023 and include support for education, community development and employment.
Read more: $1.5 Million Neighborhood Resiliency Program Coming to McKinley Park
The dilapidated and empty Continental Can Company building at South Ashland Avenue and West Pershing Road would be torn down and replaced with a 50-foot-tall warehouse in a plan pitched by Karis Cold Storage.
- Continental Can Company building at South Ashland Avenue and West Pershing Road would be demolished for new warehouse.
- Karis Cold Storage pitches development plan at McKinley Park Development Council meeting.
- Preservation Chicago director says historic facade, tower should be retained at very least.
Read more: Cold Storage Pitched to Replace Historic Central Manufacturing District Building
The flatiron building at West 35th Street and South Archer Avenue is approved for a full overhaul, with developers planning for new storefront commercial spaces and 10 residences coming online in 2023.
- Long-underused flatiron building at West 35th Street and South Archer Avenue is poised for a full overhaul.
- Development team plans three commercial storefronts with 10 modern residences above.
- Construction planned to start in October 2022 and be completed before June 2023.
Read more: McKinley Park Flatiron Building Gets OK for Full Rehabilitation
Central Manufacturing District properties along Pershing Road are the target of desired development, spurred by a new Request for Proposal (RFP) and property building tours from the City of Chicago.
- Department of Planning and Development showcases Central Manufacturing District properties in tour for developers and architects.
- Request for Proposal (RFP) lays out the latest redevelopment opportunity outlined for long-underused, city-owned properties.
- New, smaller package of properties hoped to inspire developers after past development attempts fail.
Read more: City Pitches Historic Warehouse Redevelopment Again
