X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-The city’s department of planning and development has settled on Liberty Life Center, LLC to redevelop the historic Supreme Life Insurance Building and neighboring townhouses at the southeast corner of 35th Street and King Drive. Liberty Life Center, LLC will acquire the property, including the 22,692-sf office building and five townhouses totaling 13,000 sf, for $1 under an ordinance now being considered by the city council.

The city issued a request for proposals in October 2001, seeking a developer willing to redevelop the site for retail and office use while restoring the 80-year-old building facades.

Liberty Life Insurance Co. was the first African-American insurance firm in the northern US when it was established in 1919, according to the department of planning and development’s landmarks division. Two years later, the company moved into Roosevelt State Bank’s new building, according to the division, eventually buying it in 1924. A 1929 merger of three firms created Supreme Life Insurance Co.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.