Harvey

Harvey, IL · Business
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Chicago developers pitch new Bears stadium sites as Illinois weighs tax incentives
Chicago developers are making a renewed push to keep the Bears in the city , unveiling ambitious stadium plans as state lawmakers consider tax incentives to keep the team in Illinois. The latest: Capri Investment Group, alongside GRIT Chicago, introduced a $10 billion plan on Thursday to transform the former Michael Reese Hospital site in Bronzeville into a 75,000-seat domed stadium. The project would include housing, hotels, parks and entertainment venues. The developers are even offering to buy the Bears' Arlington Heights property to help persuade the team to reconsider Chicago. Context: The Bears spent years pursuing Arlington Heights before turning their attention to Hammond, Indiana , amid disagreements over property taxes. Now, as Springfield considers a potential stadium financing package, Chicago developers want another shot. A rendering of the newly proposed stadium on the former Michael Reese site in Bronzeville. Rendering: Courtesy of Inference The big picture: At least three proposals for new stadiums have surfaced within city limits, all on the South Side. Zoom in: Related Midwest is pitching the former South Works steel mill site near 87th Street and Lake Michigan, where a quantum computing campus and new hospital are already in development. Related Midwest president Curt
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Albany Park's Lawrence Gateway Tops Out, Bringing 40 Homes Across From Ronan Park
Approx. W. Lawrence Ave. — Lawrence Gateway Topping-Out Site. Developer MAS Ventures LLC and Malek Abdulsamad marked a major construction milestone this week, celebrating the topping out of Lawrence Gateway, a five-story mixed-use building rising across from Ronan Park in Albany Park. Chicago's Department of Planning and Development Commissioner Ciere Boatright joined the celebration, underscoring the city's stake in a project that pairs market-rate apartments with affordable housing and ground-floor retail.
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Citadel Securities CEO Peng Zhao Lists Chicago Condo for $6.6 Million
Peng Zhao, the chief executive of Citadel Securities, has listed his Chicago condo for $6.6 million. The condo overlooks Millennium Park. Crain's Chicago Business reported Zhao's listing. Zhao became chief executive of Citadel Securities in 2017 — a role that followed a long run inside the company. According to Citadel Securities, Zhao joined the firm straight out of graduate school in 2006 as a senior quantitative researcher before rising to the top job. The firm's leadership page also notes that Zhao earned his PhD in statistics from the University of California, Berkeley.