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City Targets El Stop for Redevelopment

CHICAGO-The city hopes to lure a mixed-use, transit-oriented development at 5144-58 W. Lake St., at the Chicago Transit Authority's Green Line stop at Laramie Avenue, but needs to acquire a 12,700-sf parcel first.

By Mark Ruda | Updated on May 17, 2005

CHICAGO-A 12,700-sf vacant lot at 5144 W. Lake St. is being eyed by the city, which owns a 4,000-sf parcel at 5158 W. Lake St., for a potential transit-oriented, mixed-use development. The 16,700-sf site is next to the Chicago Transit Authority’s Green Line stop at Laramie Avenue.

The city picked up the smaller lot through a 2003 tax sale and will attempt to negotiate a sale with the Mount Prospect-based owner of the larger property. If those attempts are unsuccessful, the department of planning and development has obtained acquisition authority from the community development commission, which would allow the city to use condemnation powers.

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