Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
City Puts Underused Parking Lots Up for Sale
Four underutilized parking lots owned by the City of Chicago in Lake View, North Center and Portage Park are being made available for purchase and redevelopment. The city’s Department of Planning and Development (DPD) has retained Cushman & Wakefield to solicit officers for each site.
“These city-owned properties have very limited demand for public parking anymore so we’re entertaining purchase offers that maximize their value for taxpayers,” said DPD Commissioner Maurice Cox. “Their sales will also enable improvements that contribute to local development patterns and overall neighborhood livability.”
The lots include:
- 1530 W. Barry Ave.: 19,049 square feet. B1-1 zoning. 53 spaces.
- 1635 W. Melrose Ave.: 18,787 square feet. B3-1 and B3-3 zoning. 47 spaces.
- 3840 N Lincoln Ave.: 11,439 square feet. B1-3 zoning pending. (Currently B1-2) 26 spaces.
- 4050 N. LaPorte Ave.: 37,601 square feet. RT-4 zoning pending. (Currently B1-1) 111 spaces.
- ◦Sale/Acquisition