City Renews Efforts to Spur South Shore Rehab

CHICAGO-An eight-year effort to redevelop two blocks on South Stony Island Avenue has been rekindled, with city officials moving to acquire property in the 6700 and 6800 blocks. For the third time since 1998, the Department of Planning and Development has received authority to acquire seven parcels from the community development commission.

Among the properties is a vacant 87-year-old bank building, and the Department of Planning and Development wants to see the facade preserved, says Lisa Hope-Washington. Other properties include a storage facility, mixed-use building and vacant lots, Hope-Washington says.

Although no specific development plan is on the table, city officials have talked with potential developers, who all have been stymied in attempts to begin work. Foremost among the hurdles has been the ability to acquire properties at prices close to fair market value. While the city has had acquisition authority for as long as eight years, owners of the properties have set unrealistic prices, says at least one developer.