The City Council approved the sale of City-owned properties at 4640, 4644, 4652 S Vincennes Ave and 454, 456-58 E 47 St to Revere Properties Development, LLC. The buyer plans to construct a 5-story mixed-use building that will include a restaurant/bar, a small performance space, 12 live/work condominiums for artists, a rooftop garden, and a large outdoor plaza with a covered patio. The properties were sold for a total of $5.00 through the ChiBlockBuilder platform, which is designed to sell vacant City-owned property for market-rate development. The project is estimated to cost $21.5 million, and Revere Properties Development, LLC received a conditional commitment for a $5 million grant from the City's Community Development Grant program. The project is considered a 'residential project' and triggers the requirements of the Affordable Requirements Ordinance, obligating the developer to impose certain affordability requirements as the project includes more than ten dwelling units and receives City assistance.