Chicago Cheat Sheet: Some Logan Square property owners could face extra property tax

Also, Reformation opening store on Walton Street in the Gold Coast

Chicago /
Jul.July 24, 2019 05:00 PM
Alderman Carlos Ramirez-Rosa and Milwaukee Avenue in Logan Square (Credit: Twitter and iStock)

Alderman Carlos Ramirez-Rosa and Milwaukee Avenue in Logan Square (Credit: Twitter and iStock)

Special taxing district pitched for parts of Logan Square
Ald. Carlos Ramirez-Rosa (35th) is backing a plan that would implement an added property tax along Milwaukee Avenue in Logan Square to pay for improvements in the area. The alderman is supporting a movement to create a special taxing district in an undetermined area of Milwaukee Avenue. Neighborhoods across the city use similar taxing districts for beautification purposes to attract new businesses and to spur economic development. [Block Club]

Gold Coast fashion scene getting a Reformation
Women’s fashion retailer Reformation plans to open a location in the Gold Coast. The Los Angeles-based chain plans to lease the 8,900-square-foot building owned by Acadia Realty Trust at 56 East Walton Street that was formerly occupied by snowboard maker Burton. Reformation has 15 stores nationwide, and its Walton Street lease fills the last vacancy in New York-based Acadia’s Gold Coast portfolio. [Crain’s]

Benefit Chicago gives DL3 infusion of cash
DL3 Realty is getting a boost for its efforts to tackle more commercial projects on the South and West sides. The developer behind a number of notable projects received $3 million from investment fund Benefit Chicago. The fund’s executive director said the hope is the seed money will allow DL3 and managing partner Leon Walker to start tackling multiple projects at the same time. DL3 recently delivered Woodlawn’s first full-service grocery store in four decades and is in the process of replacing the old Washington Park National Bank building with the Woodlawn Health Exchange. [Block Club]

WhirlyBall looking to sell, lease back Bucktown home
WhirlyBall is looking to sell the home of its entertainment complex in Bucktown. The company hired JLL to find a buyer for the 51,000-square-foot building at 1825 West Webster Street who will lease it back to WhirlyBall, which allows guests to ride in bumper cars while trying to toss a wiffle ball with plastic scoops. JLL’s Brian Shanfeld said he expects the property to fetch nearly $19 million. [Crain’s]

Owners of Austin’s “Pink House” looking for help keep the home
The owners of a house in Austin known for its distinctive pink color scheme are turning to crowdsourcing to stay in their home. The Anderson family had listed the so-called “Pink House” near Central Avenue and Ohio Street in hopes of finding a buyer who could complete needed repairs. They listed it for $290,000 but have cut the price to its current ask of $160,000. But @properties broker Jeanne Keating suggested the family launch a GoFundMe campaign to try to raise money to fix up the house. [Chicago Tribune]


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