The target price for a 32,000-sf site at 6401-27 S. Cicero Ave., which the city is attempting to acquire, is nearly $1.3 million. The corner lot, little more than a block from the airport runway, has 300 feet of frontage on Cicero Avenue and 100 feet on 64th Street. City officials also are rezoning the property from B1-1 to B3-1. While a developer would be able to build up to 38,400 sf in either classification, the zoning change allows for more retail uses.
A 31,900-sf site at 4730-40 S. Cicero Ave. is being offered at $1.1 million. The city-owned parcel has 275 of frontage on Cicero Avenue, where the most recent traffic count was 65,000 vehicles per day, according to the department of planning and development. The site already is zoned B3-1.
Tax increment financing is available to development teams that would acquire either site. Proposals are due in July.
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