Redevelopment of the longtime vacant Washington Park National Bank into an approximately 70,000square foot, first-class office building anchored by a new Bessie ColemanBranch of the Chicago Public Library. The $40+ million investment will bring to the community much needed quality office and entrepreneurial space, a state-of-the-art Chicago Public Library and ground floor retail space. Once completed, the LEED Silver Certified building will be 6-stories tall and will feature an attractive modern glass and steel structure behind the fully restored historic facade. The development requires a variety of economic development incentives including New Market Tax Credits, Opportunity Zone private investment, 7(b) Real estate tax incentive, Neighborhood Opportunity Funds (“NOF”), and a Chicago Public Library capital grant. Chicago Public Library will own and occupy the 2nd floor of the building and a portion of the 1st floor. The existing Library property will be evaluated for supportive parking for the new library and office building. The development team is lead by DL3 Realty, a minority owned business with a strong track record of delivering high impact developments in Chicago’s underserved communities, including most recently Park Station, Friend Health Woodlawn, and Jewel-Osco Woodlawn. Construction is expected to start in Spring 2026 and be complete in Summer 2028.
Preliminary Project Schedule:
See Master Schedule attached for further details.
· 20th Ward Development Process Community Engagement: November 2024 – February 2025
· Finalize RDA and CDF NMTC Term Sheets: March 2025
· RDA Introduction: March 2025
· City Council Approval: June 2025
· Receipt of Building Permits: January-March 2026
· Closing & Construction Start: April 2026
· Library Opens: Fall 2027
· Tenant Open: Spring 2028
Schedule of 20th Ward Community Engagements:
Revive 63 - Open House Workshop
Date: November 20, 2024
Location: Coleman Branch, Chicago Public Library 731 E 63rdSt, Chicago, IL 60637
Revive 63 – Open House Workshop
Date: December 10, 2024
Location: Coleman Branch, Chicago Public Library 731 E 63rdSt, Chicago, IL 60637
Revive 63 – 20th Ward Development Presentation (Part 1)
Date: January TBD
Location: Coleman Branch, Chicago Public Library 731 E 63rdSt, Chicago, IL 60637
Hybrid Streaming: [20th Ward to Provide Zoom Link]
Revive 63 – 20th Ward Development Presentation (Part 2)
Date: January TBD
Location: Coleman Branch, Chicago Public Library 731 E 63rdSt, Chicago, IL 60637
Hybrid Streaming: [20th Ward to Provide Zoom Link]