Sale of City-owned property at 1641, 2045, 2047, 2049, 2051, 2055, 2057 W Warren Blvd and 1656, 1658, 1666, 1700, 1710 W Madison St to RE Holdings Group LLC under ChiBlockBuilder platform

The City Council approved the sale of 12 vacant City-owned parcels, totaling 41,377 sq ft, to RE Holdings Group, LLC for $2,482,620. These properties, located in the Near West Side (Ward 27) near the United Center, were sold through the ChiBlockBuilder platform. The buyer plans to integrate these parcels into a larger mixed-use development project (housing, retail, entertainment, public open space) on over 55 acres, with development phases from 2028-2040 under Planned Development 522. The sale is subject to the Affordable Requirements Ordinance (ARO) and requires the buyer to undertake environmental remediation.

This project will bring new housing (including affordable units), retail, entertainment, and public open space to the Near West Side, potentially revitalizing the area around the United Center over the next two decades.

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