City Of Chicago Acquires Land In Pilsen For $12M With Mayor Lori Lightfoot And Marisa Novara As Reps

The City of Chicago, represented by Mayor Lori Lightfoot and Marisa Novara, the Chicago Department of Housing Commissioner, has acquired a plot of land in Pilsen. The property, located at 1600-1700 South Peoria Street, spans approximately 6 acres. The seller, Property Markets Group, has agreed to the sale.

Summary of transaction details

• Property Type: Land
• Transaction Amount: $12,000,000
• Market: Pilsen
• Date: 02/24/2022

The acquisition of this land by the City of Chicago marks an important investment in the community. Mayor Lori Lightfoot and Marisa Novara, as representatives of the city, have taken a proactive approach to address the housing needs of the area. With this acquisition, the city aims to advance its goals of fostering affordable housing and supporting local development.