Children’s Memorial Hospital in Chicago is in contract negotiations with Chicago-based McCaffrey Interests for the sale and development of its Lincoln Park property as it prepares for a June 2012 move into its new facility in the Streeterville neighborhood, according to a Chicago Tribune report.
Children’s Memorial will sell approximately six acres to the developer. It said it plans to work with McCaffrey through the zoning process for a proposed “town center” in the Lincoln park neighborhood, which would include multi-income housing, open space and retail.
The deal includes an exclusive agreement that McCaffrey not shop the property to other developers.
Read the Chicago Tribune report on Children’s Memorial Hospital in Chicago.
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