Retail Developers Sought for Comiskey Park Area

The city this month will issue a request for proposals to develop retail space on a 40,000-sf site at the northwest corner of 35th and Halsted streets. Unless a developer opts to provide affordable residential housing, the minimum purchase price is the appraised value of $1.15 million. It already appears achievable. "Fifteen developers have called the department of planning and development already," says assistant commissioner Irene Espinosa.

The Halsted Street site is less than five blocks from where the White Sox play. Meanwhile, the city is looking to get at least $635,000 for the northeast corner of 35th Street and Michigan Avenue, four blocks from the stadium and on the opposite corner of the recently-completed Chicago Police Department. "There is significant interest," reports Kimberly Moore of the department of planning and development. "We have retail developers and institutional interest as well."

The city prefers retail uses such as a sit-down restaurant, book store or home furnishings store at 35th and Halsted, Espinosa told the community development commission Tuesday. The goal is to build a high-quality retail project with one or two larger tenants, Espinosa says, that will be a catalyst for further development near the key Bridgeport intersection.

"We do not want a strip center," Espinosa says.

If a developer opts to build a mixed-use project that includes residential, 20% of the units must be affordable according to department of housing standards, she adds.

Under a city initiative, rental units must be affordable to those making 80% of the area median income, or $38,000 for a single person, or less, Espinosa explains. The condominiums must be affordable to those making 120% of the median income, or $63,000 a year.

The gritty neighborhood traversed by a freight train line and the Dan Ryan Expressway already is seeing new residential construction selling for $600,000, Espinosa tells GlobeSt.com. Now that the relatively affordable neighborhood area known as the city's cradle of mayors is seeing a housing boom, retail development is desperately needed, says 11th Ward Alderman James A. Balcer.

"The housing boom is going quite well, but people shop outside our community," he adds.

At 35th and Michigan, the city also is seeking specialty retail operations, including a sit-down restaurant, with professional services likely on the second story. Retail uses such as fast-food restaurants, currency exchanges and taverns will be discouraged, Moore told the commission.

While the city and current owner of the one- and two-story structures at the corner have struck a deal on a price, negotiations continue with the current 14 retail tenants that will be relocated. They include a car wash, beauty shop, pharmacy, medical and dental offices, Moore says.

"Our attorney is working with the owner's attorney on a final settlement offer," Moore says.