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Investors Sue Lightfoot Administration Over Property Adjacent to Michael Reese Site
A group of local investors has filed suit against the Lightfoot administration for what they charge was illegal use of the city’s zoning power to block the development of a Near South Side property as part of a plan to boost Bronzeville Lakefront, the $3.8-billion transformation of the former Michael Reese hospital site next door, reported Crain’s Chicago Business.
At issue is a 6.5-acre property immediately north of the Bronzeville Lakefront site. The property was formerly home of the Sykes Center, a 152,000-square-foot outpatient care facility most recently used by Advocate Medical Group.
In the lawsuit, the Sykes property owners alleged that city officials and the head of the Bronzeville Lakefront redevelopment team conspired to stonewall any sale or redevelopment of the Sykes property in an effort to diminish its value and eventually buy it themselves.
The Sykes owners are seeking at least $15 million in damages, reported Crain’s.
- ◦Policy/Gov't
