The City of Chicago approved the transfer of a 1.5-acre vacant land parcel located at 12100 S. Peoria Street to the Cook County Land Bank Authority (CCLBA) for a purchase price of $1. The property, valued at $201,212, is currently undevelopable as it is surrounded by land already owned by the CCLBA. The CCLBA intends to bundle this newly acquired parcel with its existing adjacent property to create a larger, developable site. Following the acquisition, the CCLBA plans to issue a Request for Proposals (RFP) for the comprehensive development of the assembled site, aiming to return the vacant land to viable use and remove it from the City's inventory.