Plans for Michael Reese Site

A New Mixed-Use Community

Excerpts from cityofchicago.org

The city purchased the 37-acre parcel of land June 30, 2009 from Medline, Inc. Under terms of the purchase contract, the City does not have to make its first payment to Medline until October 2014.

The demolition costs are to be paid for by charitable contributions made by Medline to the City as agreed to at closing.

“We expect to issue requests for qualifications by the middle of 2010 and ultimately sell the land to a designated development entity in time for us to make our first payment,” Raguso said. Requests for proposals will be issued after developers are selected from a pool of qualified applicants.

The goal of the redevelopment is to create a mixed-use community that will feature market rate and affordable housing as well as retail businesses and open space and be easily integrated into the surrounding neighborhood.

The Brandenburg Industrial Service Co. contract included a 44.66% commitment for the participation of minority and women-owned business enterprises. The Heneghan Wrecking included a commitment to 46.96% MBE/WBE participation. Both contracts call for at least 50% of project labor to be performed by City residents and for 15% of labor to be performed by community residents.