The Chicago Community Development Commission (CDC) today recommended City Council approve a variety of development incentives, land sales and moved to issue  RFPs, in order to continue to foster development throughout Chicago’s 77 communities.   

“All of the recommendations made by the CDC today, from providing land for the Harper Court development in Hyde Park to the creation of “Thai Town” in Albany Park, show a diversity and creativity in development that today’s economy requires,” said Acting Department of Community Development Commissioner Chris Raguso.  “These actions, in addition to conveying city-owned land to a variety of important institutions in and continuing to issue RFPs, shows the City’s ongoing commitment to fostering growth at an exciting pace.”

Community Development

In a move that aims to reinvigorate the heart of Hyde Park, the Commission recommended City Council designate Harper Court, LLC as the successful respondent to the RFP and designate it as developer, while approving the sale of land to Lake Park Associates, a wholly owned entity of the University of Chicago.  The University and the City are working together to create a mixed-used development at the northeast corner of Lake Park Avenue and 53rd Street.  This site, which will contain commercial, hospitality and residential development, is the future “commercial core” of the Hyde Park community. Roughly half the site is now owned by the University and the other half is a City-owned parking lot.  The city is selling its land to the University for $1, for a land write-down of $3,402,000.  The CDC also recommended that City Council approve of $20,045,615 in TIF assistance for the project.  The development is located in the 53rd Street TIF district.

The Commission also recommended the designation of Thai Town Center, Inc. as the successful respondent to the RFP issued for the purchase and redevelopment of 4461 N. Pulaski Road and its designation as developer. This Albany Park project will redevelop the former 17th District police station to create a Thai  tapas-style restaurant, a Thai spa and wellness center, and the headquarters for the Thai American center.  The developer will pay the $780,000 market value for the property; additionally, the CDC recommended $1,506,306 in TIF assistance. The property is located in the Lawrence/Pulaski Tax Increment Financing district. Principals in the project include Arun Sampanthavivat, the internationally renowned chef of Arun’s Restaurant located at 4156 N.Kedzie.  Arun, along with the American Thai Association and the Thai government, hope to create a Thai Town destination neighborhood in Albany Park.   The CDC also voted to issue a new RFP for the purchase and redevelopment of property one block north, on the southeast corner of Wilson Avenue and Pulaski Road, for new one story commercial or retail space.  The target price is $1.1 million.

JOB CREATION AT GREEN COMPANY

The CDC also recommended negotiating a redevelopment agreement with Coyote Logistics for the development of leased premises in the Green Exchange at 2543-45 W. Diversey Avenue in the Addison South TIF district and designating Coyote Logistics, LLC as the developer, in a move that will bring 375 jobs to the City. Coyote Logistics proposes to occupy 64,656 square feet of the Green Exchange in the Logan Square community.  The company plans to relocate its headquarters from Lake Forest, Illinois with 140 employees, and Alpharetta, Georgia with 75 employees, to the Green Exchange.  In addition, Coyote will also create 160 new jobs over the next two years, increasing the number of full time employees at the new headquarters to more than 300. The CDC recommended $2 million in TIF assistance. Coyote Logistics, LLC is a global third party logistics (“3PL”) company with offices around the world.  It is currently the fastest growing 3PL company which helps curb waste by ensuring that truck loads are full on round trips. The Green Exchange is a four-story landmark building that formerly housed the Cooper Lamp Company.  The Green Exchange is designed to bring together a mix of businesses focused on environmental sustainability.  The building has a total of approximately 227,450 square feet of space for lease. To date, there are 24 leases in place. With the addition of Coyote Logistics as the anchor tenant, the Green Exchange will be 69% occupied and have more than 156,000 square feet occupied.  

Recommendation of RFP and Land Conveyance to Foster Development

The Commission recommended three actions to benefit the North Lawndale community.  First, the city is conveying one city-owned parcel at 1311 S. Kedzie for $1 to the Gift House, a non-profit organization serving those with HIV/AIDS and other STDs.  The appraised value of the land is $15,000 and the land will be used for a parking lot.   The second action recommends the city convey 18 city-owned parcels to Lorsch Construction and Development, Inc. for $1 for the development of 18 single-family homes as part of the City Lots for City Living affordable housing program. The lots are located between Albany and Homan and Harrison and Arthington Streets.  Finally, the CDC recommended Council approve an intergovernmental transfer of seven lots to the CHA, located between 12th Place and 14th Street and Washtenaw and California Avenues, valued at $235,000.  These lots are for the development of 21 market rate units that are part of the Mt. Sinai expansion project being constructed on City, CHA and private land.

In the Humboldt Park community, the City is selling five vacant city-owned parcels to the Noble Network of Charter Schools for the construction of a gymnasium and parking lot for the Rowe-Clark Math and Science Academy Charter School.  The land, at 725-43 North Lawndale Avenue, is appraised at $210,000 and is being sold for $5.  

The CDC also recommended the city convey two parcels of land at 334-338 N. Lotus to be used as a parking lot in the Austin Community by the PCC Community Wellness Center. The appraised value of the land is $69,000; the land is being sold for $1.  

The Commission gave approval to advertise and issue a RFP for the purchase and redevelopment of land at the northwest corner of Division Street and Clybourn Avenue in the Near North Redevelopment Area.  The goal is to develop a 60-unit mixed-income rental development with a target sale price of $3.2 million. The Near North Working Group, comprised of representatives of the City of Chicago, the CHA and the Cabrini Local Advisory Council, will review the RFP responses. The Resource Center, a non-profit environmental education organization, is currently operating City Farm on this site.  The city is working with City Farm to relocate to another site nearby.