Land sale and incentives approved for Missing Middle projects

The Chicago City Council has approved city-owned lot sales and financial support for 81 market-rate housing units planned as part of the Department of Planning and Development’s Missing Middle Housing Initiative. Planned to be built in Morgan Park, South Chicago and West Chatham, the units will be part of 27 market rate two-flats, three-flats and four-flats to be constructed by five minority-led development teams.

The Missing Middle program incentivizes redevelopment of vacant City lots with walk-up buildings that have gone “missing” due to decades of disinvestment. Each completed building will be sold to at least one owner-occupant as part of the initiative’s community wealth-building goals.

The projects collectively represent $31 million in new investment. They include:

Famor LLC, Morgan Park
The $8.9 million project will replace six vacant lots on the 1300 and 1400 blocks of West 109th Place and the 1400 block of West 110th and 111th streets with six four-flats. The parcels total .43 acres and are valued at $55,670.

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Vazquez Housing Development, Morgan Park
The $6.7 million project will replace five vacant lots on the 1100 and 1200 block of West 110th Place and 1200 block of West 110th Street with five three-flats. The parcels total .36 acres and are valued at $58,220.

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Superior Source Capital, Morgan Park
The $6.8 million project will replace six vacant lots on the 1400 block of West 109th Street and 1300 block of West 109th Place with six three-flats. The parcels total .43 acres and are valued at $55,690.

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NHS Redevelopment Corp. and Milhouse Development, South Chicago
The $4.8 million project will replace five vacant lots on the 2900 and 3000 blocks of East 80th Place and 3000 block of East 80th Street with six two-flats. The parcels total .46 acres and are valued at $39,989.

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Simeon Manor 1, West Chatham
The $3.8 million project will replace four vacant lots on the 500 block of West 81st Street with four three-flats. The parcels total .28 acres and are valued at $24,155.

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City assistance for each project will include $150,000 in city bond proceeds per unit and the sale of each lot for $1 to help ensure purchase prices are commensurate with market rates.