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UpdatedFri, Jul 23, 2021 at 9:49 am CT Replies(4) The first phase of the redevelopment plan includes the 500,00-square-foot ARC Innovation Center anchored by Israel-based Sheba Medical Center. (SOM) CHICAGO The City Council approved the sale of the former site of Michael Reese Hospital to a developer as part of a $3.8 billion revitalization project called Bronzeville Lakefront. The 48.6-acre property was purchased by the city in 2009 for $91 million amid its unsuccessful bid for the 2016 Olympic Games. Since then, it has been floated as a potential site for a Chicago casino or Amazon headquarters. Under the deal given the greenlight Wednesday, the city will sell the land to a developer in multiple phases over the next 14 years for a total of nearly $97 million.

United statesMaurice coxDraper kramerScott goodmanLori lightfootSophia kingFarpoint developmentInnovation centerMichael reese advisory committeeSheba medical centerChicago plan commissionCommunity development commissionCity councilMclaurin development partnersPlan commissionBronzeville community development partnership