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Chicago Plan Commission

$6B Michael Reese Redevelopment Plan Takes Shape

A team led by Farpoint Development intends to show its $6-billion plan for redeveloping the former Michael Reese Hospital site in Bronzeville to the Chicago City Council later this month, Crain’s Chicago Business reported.

The team presented details of its 15-million-square-foot Bronzeville Lakefront plan at an online town hall meeting hosted by Ald. Sophia King Monday evening. Next steps would include filing for a “planned development” zoning designation.

Bronzeville Lakefront’s first phase would include one million square feet of new buildings and a park along 31st Street, near a proposed new Metra station. In March, Sheba Medical Center of Tel Aviv signed on to anchor a health and wellness innovation hub in Phase I.

The second phase would begin in 2028, and would entail 5.5 million square feet of buildings, including apartment towers.

Full project buildout has been estimated to take 20 years. Financing hasn’t been nailed down, Crain’s reported.

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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