From City of Chicago website - October 2008
Mayor Richard M. Daley introduced a plan to City Council today to redevelop the northwest corner of 111th Street and Kedzie Avenue, the center of the Mount Greenwood neighborhood business district, into a new two-acre shopping plaza. "Encouraging private investment in our communities is a key component of our redevelopment efforts," said Mayor Daley. "This project brings with it jobs, new retail opportunities and beautification efforts, all of which will benefit the community and its residents."
The $10.9 million project will redevelop the site with a new retail center, anchored by an 18,000-square-foot Walgreen's store, a 70-space landscaped parking lot and a 3,700-square-foot corner landscaped plaza with benches and signage that will identify the Mount Greenwood community.
The City will assist the development by contributing a 13,000-square-foot surface parking lot in the middle of the site and $1.5 million in Tax Increment Financing (TIF) assistance.
