Committee on Housing and Real Estate
TL;DR
The Housing and Real Estate Committee approved several property sales and transfers involving city-owned land in different Chicago neighborhoods. These transactions include sales to private developers and a loan restructuring for a senior housing project, which could potentially lead to new housing development and neighborhood investment.
Key Decisions
- Sale of City property at 1300 N Astor St Recommended to Pass
- Sale of City property at 3975-3977 S Drexel Blvd Recommended to Pass
- Sale of City lots under Working Families Program Recommended to Pass
- Loan restructuring for senior housing project at 2324 W Irving Park Rd Recommended to Pass
Agenda
- Attendance
- O2021-5877 Negotiated sale of City-owned property at 1300 N Astor St to 24 E Goethe LLCOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- O2021-5878 Negotiated sale of City-owned property at 3975-3977 S Drexel Blvd and 3981-3983 S Drexel Blvd to 3975 Drexel LLCOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- O2021-5879 Sale of City-owned lots under Working Families Program to Prodigy LLC with associated redevelopment agreement for property at 1916 and 1927 S Troy St, and 1905, 1914, 1915,1919 and 1926 S Albany AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- O2021-5880 Loan restructuring agreement and assignment of loan debt and City loan from North Center Senior Housing L.P. to replacement borrower The Martha HHDC LLC for project at 2324 W Irving Park RdOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.