Humboldt Park

City Council Approves New Tax Incentives For Commercial Developments

The Chicago City Council has approved tax incentives for four redevelopment projects across the city including Uptown, Humboldt Park, Chatham, and New City. All but one of the developments are new with the other being an extension of an existing credit, the incentive is as follows; commercial developments will be taxed at 10 percent for the first 10 years, 15 percent for the 11th year, and 20 percent for the 12th year before rising to the standard 25 percent thereafter. The two classes in this round of approvals are 6(b) due to new construction and 7(a) for redevelopment under $2 million.

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Plan Commission Approves Affordable Housing Development At 1203 N California Avenue In Humboldt Park

The Chicago Plan Commission has approved a mixed-use development at 1203 N California Avenue in Humboldt Park. Located on the corner with W Division Street, the project replaces an empty lot and is being developed by the Hispanic Housing Development Corporation with architects Pappageorge Haymes Partners. Rising on Paseo Boricua, the building will contribute to the growing neighborhood with an 89 percent Latino population.

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New Round Of Winners Announced For The Invest South/West Initiative

Three new winners of the city’s Invest South/West initiative have been announced by the mayor in Humboldt Park and South Shore. The three winners are located at 3601 W Chicago Avenue and 4000 W North Avenue in 2908 E 79th Street in South Shore. All together the three proposals represent a $126 million investment in the neighborhoods aimed at increasing the quality of life, adding equitable affordable housing while joining a list of seven past winners of the two-year-old program that are set to break ground soon.

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New Residential Development Revealed At 1416 N Maplewood Avenue In Humboldt Park

Details for a new residential development have been revealed to residents of the first ward at 1416 N Maplewood Avenue in Humboldt Park. Owner and developer Slate Development purchased the home for $415,000 in May of this year and is partnering with design firm IR Design to demolish the existing house and build a new structure in its place. Located near the corner of N Maplewood Avenue and W Hirsch Street, the new building will add to the rapid development of the changing neighborhood.

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Developer Finishes Work On Office Development At 1334 N Kostner Avenue In Humboldt Park

Final touches begin to take shape on the first phase of a new office development at 1334 N Kostner Avenue in Humboldt Park. Dubbed The Terminal, the project is the redevelopment of the old Pyle National Company manufacturing plant which had sat mostly dormant for many years, and is now being developed by the IBT Group along with Chicago businessman Joe Mansueto. The design is being led by local firm RATIO Design along with one of the nation’s leading preservation specialists MacRostie Historic Advisors.

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