The City of Chicago has announced a new consolidated program to sell over 2,000 city-owned lots across various neighborhoods in the south and west sides. Focusing on neighborhoods like Englewood, West Englewood, New City, Garfield Park, North Lawndale, and Austin, the program aims at creating an equitable path for property ownership in areas that have long suffered from widespread disinvestment. Dubbed ChiBlockBuilder, it is being led by the Department of Planning and Development and city commissioner Maurice Cox with the blessing of Mayor Lori Lightfoot.
A demolition permit has been issued for the removal of an eight-story masonry building located at 4155 S Packers Avenue in the New City neighborhood. The permit’s owner has been listed as JEHM Financial LLC.
The City of Chicago and Mayor Lori Lightfoot are celebrating two years of the Invest South/West initiative across the city. The program launched in 2019 with $750 million in public funding for projects across 12 commercial corridors in 10 south- and west-side communities aimed at creating jobs, improving safety, and providing housing options. With many winners announced in the last two years, the projects have also spurred plenty of private developments in areas being reinvigorated by the program.
A demolition permit has been issued for a two-story masonry building and detached garage located at 4409 S Normal Avenue in the New City neighborhood. The permit’s owner has been listed as Thomas Doyle. A permit has been submitted for new construction on the site which will feature a two-story single-family home with a basement and a detached two-car garage.
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.