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Bronzeville Corner Still Waiting for Retail Developer

CHICAGO-The quest to find a developer willing and able to add retail space to the northeast corner of 35th Street and Michigan Avenue begins again. The search comes after changes are made by the top candidate from a 2002 request for proposals.

By Mark Ruda | Updated on November 29, 2005

CHICAGO-Nearly four years after putting out a call for developers to bring retail space to a Bronzeville intersection, the city’s Department of Planning and Development is back to proverbial square one. Meanwhile, the top bidder for the property in the first go-around is seeking to renegotiate its price, as well as demolish an existing building on the northeast corner of 35th Street and Michigan Avenue rather than renovate it.

The community development commission recently rejected the two proposals for the property, from De La Salle Institute, as well as the former owner, Feiyun Chen. Both agreed to pay the city’s asking price of $635,000 for the half-acre site and build mixed-use projects. The purchase price represents the city’s cost of acquiring the property.

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