To expand the redevelopment area around Midway Airport in the Clearing neighborhood, the city will acquire a Cicero Avenue commercial property.
The parcel at 6501-6549 S. Cicero Ave., on the east side of Cicero between 65th and 66th Streets, is in the Archer/Central tax increment financing district, designated in 2000.
On its 48,000-square-feet is a surface parking lot and a one-story office building.
Timing for the city’s acquisition is good, according to the Chicago Department of Planning and Development project manager who won acquisition authority from the Chicago Community Development Commission last month.
A lease to a rental-car agency there expires in May. City planners indicated that redeveloping the parcel will add to the area’s momentum, accelerated since the city’s $1 billion Midway Airport renewal effort was launched in the 1990s, the project manager said.
The Chicago Department of Environment has found underground storage tanks, which will be removed and the soil cleaned once the city owns the site.
