City-owned vacant lot to become Park Station Lofts in Woodlawn

CHICAGO — A mixed-income, mixed-use, 58-unit complex is set to break ground Wednesday in Chicago’s Woodlawn neighborhood.

The groundbreaking will be livestreamed in its entirety within this story beginning at approximately 9:30 a.m.

Park Station Lofts will be located at E. 63rd Street and S. Maryland Ave. which is walking distance from the University of Chicago, future Obama Library Campus, and only 350 feet from the Cottage Grove Station of CTA’s Green Line.

The building’s first floor will feature approximately 3,500 square feet of retail space, two live-work spaces, a management office, and a community amenity space. The apartments have been designed in one, two, and three bedroom layouts with 41 of the units designated for households earning between 30 percent and 60 percent of the Area Median Income.

According to a press release from the mayor’s office, Park Station is the first new development in the community to meet the requirements of the Woodlawn Affordable Housing Preservation Ordinance which was passed by the City Council in 2020 to proactively address the potential gentrification of the neighborhood due to the Obama Presidential Center.

Developers of the project include The Michaels Organization and Chicago-based DL3 Realty.