Sears parking lot development moving forward
Development of the Sears parking lot at Lawrence and Ravenswood was the focus of a Ward Council meeting on December 1. On the south side, there would be a $42 million retail development anchored by a Mariano’s grocery store and Sears Auto Center. On the north side would be a low-rise, low-density residential development. Alderman Pawar strongly backs the proposal and will arrange for a $4.5 million TIF break for the developers. This amount would be recouped in roughly four years based on sales and property tax revenues. Construction would be completed in Spring 2013 along with the Lawrence streetscaping, Metra bridge fix and station revamp. On the plus side, the construction will be LEED certified, which means it’s green. There will be a self-contained traffic pattern with only one vehicular access point from Lawrence, and no alley access or entry points in the surrounding residential neighborhood. The developers will contribute $250,000 to a new urban agriculture fund grow food in the 47th Ward, and there will be a shuttlebus for seniors. There will be plenty of on-site parking for retail customers – some 200 spaces. The 50 spaces dedicated to Metra riders are a potential problem. Metra leases those spaces from Sears, but that will end the day they break ground. It would be worth follow-up questions for those interested in attending the two other meetings on this issue scheduled for December 15 and December 19. Check the Alderman’s website at http://chicago47.org/ for details, including a slide presentation.
—Chris Bayard