Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + South Side  | 

Council Okays 99-Year Agreement for Obama Center

Two ordinances have passed City Council that establish the terms and conditions of the land use, and authorize roadway vacations related to the Obama Presidential Center to be built in Jackson Park. One of the ordinances entails the Obama Foundation paying $10 to occupy, use and maintain the land for 99 years. The other diverts traffic from certain roads near the Obama Center site.

Mayor Rahm Emanuel called the Obama Center “a once-in-a-lifetime opportunity for Chicago to host a museum honoring the country’s first African-American president; create a cultural, recreational and educational asset for Chicago residents and magnet for visitors to our global city; and generate billions of dollars in economic impact.”

The council vote follow last May’s approval of a 19.3-acre site that will contain the Obama Center. The project is expected to break ground in 2019.

Get to know us and Chicago’s commercial real estate elite at Connect Media’s Chicago launch event, scheduled for Nov. 8.


Get Chicago News in 150 Words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Read more at City of Chicago

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 GlobeSt.com 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).

Step 1: Select Education
  • ◦Development
New call-to-action
Money360-26-cube
Chase-19-cube
TheGuarantors-01-cube