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The Chicago Architecture Blog has a nice recap of the informational meetings held last Thursday.
Ald. Osterman's office has a page devoted to the project and what changes it will bring.
Streetsblog Chicago goes over the impact of shared streets in other communities and their impact, and it sounds promising. "Studies from London found that economic activity increased on streets after shared spaces were built. Meanwhile, traffic injuries and deaths decreased by 43 percent, and drivers became 14 percent more likely to stop for pedestrians."