This ordinance authorizes the City of Chicago to acquire specified parcels on the northwest corner of 79th Street and Exchange Avenue for the Phase 2 mixed-use redevelopment under the South Shore Corridor Equitable Transit-Oriented Development Plan. It adopts the acquisition schedule set forth in Exhibit B and empowers the Commissioner of Planning and Development to negotiate purchase agreements or, if necessary, institute quick-take eminent domain proceedings. The Commissioner may use legally available City funds and grants to consummate the acquisitions. Any conflicting ordinances are repealed, and the ordinance becomes effective upon passage. The acquisitions will facilitate the creation of up to 114 new residential units with ground-floor retail and lasting infrastructure improvements.