Search
 

Speculators Losing Ground Along Kennedy

CHICAGO-A 53-acre area along the Kennedy Expressway, south of Addison Street, will have its current manufacturing zoning set in stone with a designation from the city, discouraging retail developers.

By Mark Ruda | Updated on November 30, 2005

(To read more on the industrial market, click here.)

CHICAGO-Although manufacturing zoning would seem to be a significant obstacle, speculators have continued to have visions of retail or other uses in a 53-acre area along the Kennedy Expressway, south of Addison Street. City officials are responding by designating the area a planned manufacturing district, effectively declaring it off limits to developers looking to bring anything but industrial uses.

The proposed planned manufacturing district has won the support of 22 of the 34 businesses operating in it, according to Nora Curry of the Department of Planning and Development, with seven objecting. The 34 businesses employ 900, according to the department, which notes jobs created by industrial users pay “living wages.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.