"It's one of the most active areas in terms of redevelopment," says department of planning and development project manager Kimberly Cook. She has received permission from the community development commission to issue a request for proposals for the site, which also benefits from pedestrian traffic on weekends from the nearby Garfield Park Conservatory.
Current B3-3 zoning of the property allows for 114,000 sf to be built on the three parcels. Drug stores, bank branches and restaurants are among the retail uses the department is encouraging, Cook says, while liquor stores, currency exchanges, payday loan outlets and automobile shops are among the uses frowned upon. Meanwhile, residential units could be built on upper floors.
The target price of $950,000 is based on a July appraisal. Financial incentives are available, Cook says, as the site is located within the Midwest Tax Increment Financing redevelopment area. The deadline for bids is Jan. 18.
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