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Chicago & Midwest   /   February 18, 2021

Paul Bubny
By: Paul Bubny

$3.8B Proposal for Michael Reese Site Comes Before Plan Commission

A master Planned Development (PD) zoning application for the redevelopment of the former Michael Reese Hospital site in the South Side’s Bronzeville neighborhood will be presented for consideration by the Chicago Plan Commission on Thursday.

The $3.8-billion proposal by the Global Research Innovation & Tourism (GRIT) development team would redevelop the former Michael Reese Hospital site at 29th Street and Ellis Avenue into more than seven million square feet of commercial, institutional, and mixed-income housing.

The GRIT team is comprised of Farpoint Development, Loop Capital Management, Draper & Kramer, Chicago Neighborhood Initiatives, McLaurin Development Partners, and Bronzeville Community Development Partnership. The team was selected through a Department of Planning and Development (DPD) RFP issued in 2016 for the largely vacant hospital site, which is owned by the City of Chicago.

The PD design guidelines for the site prioritize pedestrian-oriented retail and active uses along primary streets, according to DPD.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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