Zoning Page

Approval of $1.1M Budget for North Michigan Avenue Special Service Area #76-2024

  • When: 2025/11/14
  • Address: North Michigan Avenue, Chicago, IL
  • City: Chicago
  • State: IL
  • Category: Economic Development Incentives
  • Subcategory: Special Improvement Districts
  • Asset Class: Mixed-Use
  • Property Type: High-Rise
  • Size (Dollars): $1,111,570

The Chicago City Council approved the 2025 budget and scope of services for Special Service Area #76-2024, covering the North Michigan Avenue corridor. The ordinance authorizes a total tax levy of $1,111,570 to fund services provided by the Magnificent Mile Association. Key budget allocations include $378,000 for public health and safety programs, $250,000 for public way aesthetics, and $199,000 for customer attraction. The requested levy represents a 4.95% increase over the previous year and is based on an estimated equalized assessed value (EAV) of over $2.29 billion for the area. The decision was passed by the City Council on a motion from Alderperson Mosley.

Source

Applicant - Magnificent Mile Association