DPD announces Pershing Road RFP finalists

The Chicago Department of Planning and Development has announced the three finalists for their Pershing Road RFP. Issued back in July 2022, the RFP is seeking to rehab a vacant, city-owned warehouse at 1769 W. Pershing. Located in McKinley Park’s historic Central Manufacturing District, the RFP has an option to include an adjacent 3.2-acre site for new construction. 

The RFP’s goals include the creation of a mix of private uses that foster additional neighborhood economic investment and enhance employment options for area residents, among other neighborhood needs. With five submissions by private developers, the proposals were evaluated by an RFP selection team in December 2022 and three of the five responses were short-listed for additional community and City review. 

Here are the three short-listed proposals:

IBT Group LLC

The first finalist is IBT Group LLC, who propose to rehab the vacant warehouse at 1769 W. Pershing into 120 units of mixed-income housing and 200,000 square feet of commercial offices, lab space, and retail space. The building would be served by 120 exterior car parking spaces. The developers are also looking to take advantage of the adjacent 3.2-acre property by redeveloping it with a 50,000-square-foot retail building and 132 parking spaces. The proposal is expected to cost $121 million.

LG Pershing Sound Studios LLC

Proposed by LG Pershing Sound Studios LLC, the second finalist would rehab the warehouse at 1769 W. Pershing into 114,000 square feet of commercial offices, 40,000 square feet of movie studio space, and 13,500 square feet of retail space. The scheme would include indoor parking for 100 cars and exterior parking for 300 cars and 25 semi-trucks. The 3.2-acre adjacent site would be redeveloped with 79,200 square feet of movie studio space. This project would cost $95.1 million.

Quartermaster Outpost Studio LLC

The third finalist is Quartermaster Outpost Studio LLC, who would rehab the warehouse at 1769 W. Pershing into approximately 425,000 square feet of mixed-use business space, with an additional floor added for 40 mixed-income residential units. Exterior parking for 123 cars would be provided. Their plan for the 3.2-acre site would be the development of a 75,000-square-foot movie studio space and exterior parking. This final scheme would cost $90 million.

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The proposals will be presented for public consideration in February 2023 through presentations, surveys and other opportunities to provide feedback. A final selection could be announced by DPD by summer 2023, with additional city and public review processes to follow.