CHICAGO-Children’s Memorial Hospital here, with assistance from US Equities, has narrowed a list of nine teams to four for the redevelopment of the hospital’s current Lincoln Park site. The hospital is moving to a $1 billion new facility on the campus of Northwestern University.

The four companies are Children’s Hospital Development Co., formed by developers David Ruttenberg and Greg Merdinger (GREC Architects); a Hines Interests/Magellan Development Group joint venture (HOK); McCaffery Interests (Antunovich Associates); and Related Cos (Skidmore, Owings and Merrill). A hospital spokeswoman said in a statement that the four were selected based on creativity, experience, price and willingness to work with neighborhood concerns, documented in a study created by HOK.

The old site includes the triangle-shaped main hospital of about 585,000 square feet, an 850-car parking garage, and another 170,000-square-feet of administrative offices. The HOK study indicated that residents would like to see a mixed-use redevelopment with a variety of housing levels.

US Equities will now work with, and help modify as needed, the four firms’ proposals for the site. A company spokeswoman said the proposal details will not be released at this time. “Our goal is to select the best proposal by early summer and begin the process of discussions with the community, elected officials and the city that, we believe, will further improve the project and create a consensus on how the development should proceed,” the hospital and US Equities said in a joint statement.

The hospital is also looking at whether a TIF district could be created for the site. A hospital spokeswoman says the company is waiting to see how the new mayor will handle TIF proposals.

Children’s plans to open the Ann & Robert Lurie Children’s Hospital of Chicago in June 2012. The spokeswoman says construction is still on time and on budget. The hospital has said it needs to sell its former site to help pay for its new home.