Baum Revision encountered another snag on the $88 million redevelopment plan for the historic Congress Theater — and the venue hasn’t even yet tried to get around a ban on electronic dance tunes.
Ald. Susan Sadlowski Garza, who represents the 10th Ward, blocked the proposal from advancing to the Finance Committee, and it was instead sent to the Rules Committee where, legislation is regularly killed, Block Club Chicago reported.
The plan calls for $27 million in tax-increment financing, and it’s the second attempt to revamp the venue at 2135 North Milwaukee Avenue in recent years. Congress Theater, built in 1926 by Fridstein & Co, was shut down in 2013 after former owner Eddie Carranza defaulted on a $4 million loan, and the site was riddled with crime.
Then in 2014, the city banned electronic dance music — a genre whose biggest names had played the venue — for all current and future owners through an amendment to the property’s liquor licensing.
Baum, who’s established a reputation for restoring historic buildings, wants to work his magic once again and bring back the 2,900-seat venue in full force. Garza isn’t sure theater employees will be able to earn a living wage, but Baum has been working with union UNITE HERE Local 1, ensuring staff members will receive adequate compensation.
Other council members believe both sides will come to an agreement soon, expressing they’d like to see the storied theater return. Ald. Daniel La Spata agrees with Garza that the project must create quality jobs, and he’s confident that they’ll “be able to accomplish that with this agreement,” he told the outlet.
Baum aims to redevelop retail shops and apartments surrounding in addition to the theater, including 5,400 square feet of retail space along Milwaukee Avenue and Rockwell Street and creating 16 apartments, with 14 of them reserved as affordable housing units.
The proposal must be voted on by the Rules Committee before getting passed on to the Finance Committee. After these two steps, the city council will have a final vote to decide if the project goes through.
— Quinn Donoghue
Read more
Development
Chicago
“Critical mass”: Why Chicago developers are looking south for deals
Development
Chicago
Chicago FC going forward with new training facility
Development
Chicago
DL3 Realty scores $10M in TIF funding for South Chicago redevelopment