Judge tosses developer’s urge to halt competitor’s Humboldt Park tax deal

A developer’s winning bid to rejuvenate the Pioneer Bank site in Humboldt Park cleared a potential roadblock when a Cook County judge declined to delay the project based on a competitor’s claim that it was wrongly snubbed by the city for the job.

Hispanic Housing Development filed a lawsuit against Chicago earlier this year, claiming its proposal was unfairly overlooked by the city in favor of Park Row Development’s, a firm founded in 2020 by Luis Puig and Matt Mosher, the Chicago Sun-Times reported. Judge Caroline Moreland, however, ruled that Hispanic Housing had no legal grounds to seek a temporary restraining order to hold up a city vote to approve a tax increment financing deal for Park Row’s project.

Hispanic Housing sought to hold up Park Row’s request for $13 million in tax-increment financing. After Judge Moreland’s ruling, the proposal will be heard by the city’s Finance Committee on April 17, followed by a City Council meeting on April 19, the outlet reported.

Paul Balik, an attorney for Hispanic Housing, said he was disappointed in the judge’s decision and claimed that the city violated its own request for proposals of the Pioneer Bank redevelopment by selecting Park Row.

William Choslovsky, the attorney for Park Row, called Hispanic Housing’s case “unnecessary” and said they’re appreciative of the judge’s ruling.

“Park Row’s team and the project were heavily vetted by the city, the community, and stakeholders, and it is excited to keep moving forward,” Choslovsky told the outlet.

The Invest South/West initiative was created to fund various developments in disinvested areas of Chicago. Park Row’s plan for the vacant Pioneer Bank and the adjacent parcels, located at 4000-4008 West North Avenue, includes renovating the 50,000-square-foot bank building into a commercial space for three different enterprises, converting the vacant two-story building next door into a restaurant and building a new nine-story, 75-unit residential building on vacant adjoining land.

Hispanic Housing, led by Hipolito “Paul” Roldán, claimed its plan, which called for various Hispanic arts organizations and a youth center, was more aligned with the city’s hopes for the property. The developer also believed it was more qualified to take on the project, having over 15 years of experience in Humboldt Park, whereas Park Row was only recently founded.

—Quinn Donoghue