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.
The Chicago City Council has approved the Regal Mile Studios development located at 7700 S Stony Island Avenue in South Shore. The large triangular site is bound by S Stony Island Avenue to the east, E 77th Street to the north, and S Chicago Avenue to the southwest. Formerly the home of a Kmart, the almost seven-acre parcel now sits vacant. Regal Mile Ventures LLC is the developer behind the project, composed of Loop Capital and Derek Dudley, a producer of Showtime’s The Chi series.
The Chicago Plan Commission has approved a planned residential development located at 3006 E 78th Street in South Shore. Currently a vacant lot, the property is located along E 78th Street fronting the adjacent Rainbow Beach Park. Elam Industries LLC is the developer behind the project.
This week, renovation permits were issued to an existing two-story masonry building located at 7215 S Ridgeland Avenue in South Shore. The occupying owner Kim Russell plans to add a third unit to the basement portion, while also refurbishing the rest of the building. Other improvements include new drywall, new finishes and interior alterations, a replacement of the rear porch, and upgrades to the mechanical, electrical, and plumbing systems.
Demolition permits have been issued for a single-story masonry commercial building located at 1701 E 75th Street in South Shore. Owned by M&M Realty, the former car wash has been unoccupied since 2016. It is unclear what the agency plans to have replace the structure, though the lot is zoned for C1-2 Neighborhood Commercial District, which allows for a wide array of retail types, with apartments permitted above. The designation also allows for a floor area ratio of 2.2, whereby any new construction may have the square footage of up to 2.2 times of the lot itself.