Zoning Page

Sale of City-owned property at 1419, 1507, 1509, 1511 and 1515 S Christiana Ave to Beauty for Ashes Developers LLC, under ChiBlockBuilder platform

  • When: 2024/09/18
  • Address: 1419 S Christiana Ave, Chicago, IL
  • City: Chicago
  • State: IL
  • Category: City Properties
  • Subcategory: Property Sale
  • Asset Class: Land
  • Size (Dollars): $2,250,000

The City Council approved the sale of five vacant City-owned lots at 1419, 1507, 1509, 1511, and 1515 S Christiana Ave to Beauty for Ashes Developers LLC for $1.00 per parcel. This sale is part of the ChiBlockBuilder Missing Middle Infill Housing Initiative, which aims to facilitate new home construction on vacant, City-owned lots in underserved communities like North Lawndale. The initiative allows qualified developers to purchase lots for the construction of one-to-six-unit residential buildings, which must be sold to owner-occupants. The City may provide up to $150,000 per housing unit for site preparation and construction costs. The combined market value of the lots was assessed at $77,966 as of September 18, 2024. The developer also applied for and received a conditional commitment for a grant of $2,250,000 from the City's Housing and Economic Development bond. The approval is conditioned upon the City entering into a Redevelopment Agreement with the developer. The project will receive a waiver from the Open Space Impact Fee Ordinance, and the Affordable Requirements Ordinance will not apply to this project. If the developer is unable to sell the units to owner-occupants, they may lease them for up to one year, with possible extensions.

Source

Ownership - City of Chicago


Developer - Beauty for Ashes Developers LLC