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CHICAGO-The city is making a 39,000-sf site between the West Loop and United Center available for at least $3.1 million, hoping to find a developer willing to build up to 195,000 sf of residential and retail space on the L-shaped property. Proposals for the site at the northwest corner of Madison Street and Racine Avenue are due to the department of planning and development Jan. 9.

In its request for proposals, the city says it will work with the winning developer on changing the zoning on the property from C2-3 and C3-3, which would allow for 117,000 sf of building space, to B4-4, which would allow for up to 195,000 sf.

Although industrial buildings remain in the Near West Side neighborhood, the area has seen redevelopment with retail and office space, as well as residential units, as structures are renovated or new construction rises on cleared lots. The boom began in earnest following the construction of the United Center, six blocks west of the site, which replaced historic Chicago Stadium.

The city has owned the land for the last five years.

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