The city council could vote in July on giving the department of planning and development authority to acquire buildings at 1230 and 1236 W. Devon Ave., 6330, 6340 and 6350 N. Broadway, 6601 N. Sheridan Rd. and 1233-43 W. Pratt Ave. through condemnation.
"They've really underserved the community for quite some time," says 40th Ward Alderman Patrick J. O'Connor, who specifically called the intersection of Broadway, Devon and Sheridan "an absolute blight." The properties further north on Sheridan Road and Pratt Avenue are in Alderman Joe Moore's 49th Ward.
Among the properties is a Dunkin' Donuts store at 6330-34 N. Broadway, where Amir Khoja says he has spent $500,000 on renovations in the past year. In addition, property records show mortgages of more than $2.5 million on the 2,300-sf retail building. "It's not only the property that's valuable, it's the franchise," says Khoja, telling the community development commission Tuesday he has a 20-year franchise agreement with the donut chain.
In at least one case, the threat of condemnation appears to have already worked. Although a spokesperson for Congregation Beth Shalom says his board "should be given flexibility to redevelop the synagogue," Moore adds developers have recently been approached about undertaking the project. The temple at 1233-43 W. Pratt Ave. has been vacant since it suffered storm damage in 1999, although a fire caused additional damage in 2003.
"Several interested developers have looked at it and they all agree it's in very, very serious condition," Moore says. "It is my hope that by adding this property to the acquisition list, it will stress the importance of having this property developed." That development could include a continued place of worship for Congregation Beth Shalom, Moore suggests, along with residential units.
An auto body shop is operating at 6601 N. Sheridan Rd., a former gasoline station, Moore notes, adding it's "not the highest and best use" for the 15,000-sf corner property. However, owner Pierre Zonis says the city move is unnecessary. "I don't see any reason for the city to take the first step," says Zonis, who acquired the property in 1999.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
