However, the city has discovered environmental remediation is needed at the 26.3-acre site at 7101 S. Cicero Ave., a mile south of Midway Airport. As a result, the price being paid to Portland, OR-based CF Properties for the former motor freight terminal has been cut 11% to just under $13.8 million.
Ultimately, the airline will lease the property from the city's department of aviation. To get there, the city is selling Midway Airport revenue bonds to raise the purchase price.
In addition to building a four-story and two-and-a-half-story campus on 17.4 acres that it is will lease, ATA also will have the right to sublease 5.5 acres to a hotel and retail developer. Also, the airline may build another office building on its leased land at a later date.
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