Tuesday, June 18, 2019

Ripe For Development

The 23,337 square foot parking lot at 4747 N. Sheridan
A parking lot owned by the Ecumenical Institute (EI), an affiliate of the Institute of Cultural Affairs (ICA) has placed its 23,337 sq. foot parking lot at 4747 N. Sheridan on the market for redevelopment. The parking lot is currently zoned B3-3.

There is no stated asking price, but EI will consider all proposals. According to EI, their hope for the site would be: 

"A high-level scenario for a potential joint venture could be a residential development with sustainable design and construction, on-site affordable housing, community focused services, and 30+ parking spaces for the exclusive use of EI and ICA. 

We have no stated asking price and will be having a “call for offers” in about 2 or 3 months after which we will begin negotiating with a short list of potential buyers and/or JV partners.  When plans begin to be developed, EI/ICA will host initial community conversations."

The real estate listing can be found here. 

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