Chicago City Wire

A proposal to sell city-owned land in Bronzeville was introduced to the City Council by Mayor Brandon Johnson. The plan would see a long-vacant site at 452-56 E. 47th St. and 4640-52 S. Vincennes Ave. transformed into a mixed-use development.

The .52-acre property is set to be sold to Revere Properties Development LLC for $1 per lot, despite being collectively valued at $511,593. The proposed five-story building would include artist live/work spaces, a restaurant, cocktail bar, and a screening room with 42 seats on the ground floor. The second floor would house a performance venue with seating for 190 people, while the upper floors would feature four apartments each. On-site parking for 15 vehicles is planned.

According to the proposal, "Consisting of .52-acres at 452-56 E. 47th St. and 4640-52 S. Vincennes Ave., the land would be sold to Revere Properties Development LLC and developed as a $21.5 million, five-story building that includes a public plaza along the sidewalk." It also states: "The restaurant, a cocktail bar and a 42-seat screening room would be located at ground level and the performance space would occupy the second floor with seating for 190 patrons."

The project aims to create about 40 permanent jobs once completed and received a $5 million Community Development Grant from Mayor Johnson in 2024.

The city acquired the five lots between 1989 and 2012.

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