Posted Jun 16, 2020, 5:56 PM
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Join Date: Sep 2002
Location: Chicago
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https://www.chicagobusiness.com/comm...ael-reese-site
June 16, 2020 11:59 AM UPDATED 48 MINUTES AGO
Investors shopping land next to Michael Reese site
The big vacant swath is next to where developers are planning a $6 billion lakefront megaproject.
DANNY ECKER
Quote:
As developers forge ahead with plans for a $6 billion mixed-use campus on the former Michael Reese hospital site, a group of local real estate investors is looking to unload a big piece of vacant land next to it.
Aiming to ride the momentum of the proposed Bronzeville megaproject, a venture controlled by four commercial real estate brokers has put up for sale a 6.6-acre site at the corner of 26th Street and Martin Luther King Jr. Drive.
The land runs along the northern edge of the sprawling city-owned site that once housed the hospital and is now poised to be redeveloped into Burnham Lakefront, a 15 million-square-foot development that would reshape a large swath of the city's Near South Side. The developers behind the project will introduce a zoning application at tomorrow's City Council meeting that specifies plans for 4,800 residential units, among other new details.
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