DPD Selects Mixed-Use Developer for Madison and Hamlin, Advances Loop Conversion Proposal for Community Development Commission Review

Loop and West Garfield Park mixed-use proposals containing neighborhood grocers and more than 170 affordable apartments are advancing through the City review and approval process, Department of Planning and Development (DPD) Commissioner Ciere Boatright announced today.

"Both of these proposed projects directly respond to the City's mixed-use goals to make each location a destination and anchor for additional neighborhood investments," Commission Boatright said. "Following extensive City underwriting and analysis, each project is now taking an incremental step toward construction."

The proposed projects and development teams include:

3835 W. Madison St., West Garfield Park
Citizens Building a Better Community, East Lake Management and Development Corp., TruDelta, Project Forward, Valerio Dewalt Train and Latent Design

The $45.3 million "Westgate" project would create a five-story building containing 55 affordable apartments and 20,000 square feet of commercial space, including a restaurant and grocery store to be identified through Sankofa Wellness Village's Community Grocer Initiative. A public plaza and 72 exterior parking spaces for tenants and visitors would be located at ground level. Public assistance is proposed to include up to $20 million Tax Increment Financing (TIF), $690,000 in Neighborhood Opportunity Fund proceeds, Low-Income Housing Tax Credits and New Markets Tax Credits. Approximately 250 temporary and up to 20 permanent jobs would be created by the project.

The 1.3-acre development site includes a former Aldi grocery store that was acquired by the City following an abrupt closing that left 15,000 nearby residents without convenient grocery access. A 2022 RFQ for the site produced two responses. Westgate was selected due to its design, financial viability, and development team experience and composition, Boatright said.

The City's formal review and approval process in coming months will include a Community Development Commission hearing followed by a City Council introduction. For more information, visit Chicago.gov/MadisonHamlin.

135 S. LaSalle St., Loop
Riverside Investment & Development, AmTrust RE, DL3 Realty, SCB

The $241 million project would convert 11 floors of the former Field Building as 386 apartments, including 116 units for households earning an average of 60% AMI. Encompassing 624,000 square feet, the work would also include 92,000 square feet of updated ground-level retail space for neighborhood amenities including a grocer, medical offices, and health center. Public assistance includes up to $98 million in TIF to be proposed to the Community Development Commission Tuesday, Nov. 12, prior to City Council consideration. Approximately 900 temporary and up to 170 permanent jobs would be created by the project.

Consisting of 1.35 million square feet, the 45-story, art deco high-rise was built in 1934 and designated a Chicago landmark in 1994. The 2021 relocation of anchor tenant Bank of America left the building more than 80% vacant.

135 S. LaSalle is the fifth Loop conversion project to advance through a 2022 DPD Invitation for Proposals for the LaSalle corridor. For more information about the initiative and other projects, visit Chicago.gov/LaSalleStreet.

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