City Parking Lot Sales

At a glance

What: Plan to sell four city-owned parking lots in the East Dearborn business district through a commercial broker, with mixed-use commercial and residential development required within three years of closing.
Where it stands: Authorized September 8, 2026 (resolution 9-447-26), 7-0 unanimous.
Next: Lots to be listed by a qualified commercial real estate broker; a qualified-vendors list of licensed architects is to be set up before listing.

Motion by Alsawafy, supported by Hammoud.
Parcels: 4400 Maple St. ($83,000, 12,827 sq. ft.), 13643 Nagy Dr. ($127,500 in the recitals; $127,000 in the resolving clause as printed in the minutes, 22,116.3 sq. ft.), 13631 Nagy Dr. ($28,000, 3,635 sq. ft.) and 14200 Michigan Ave. ($100,000, 4,791.6 sq. ft.), all zoned BC. The three Maple and Nagy lots abut each other behind the old City Hall and are to be sold together as one combined property; the city waives its fees for combining them.
Conditions: a mixed-use commercial and residential development must be built on each sale within three years of closing. The Economic Development Department may grant one extension of up to 90 days for any milestone for a written request and a fee of 10 percent of the purchase price (minimum $550). Further extensions need prior council approval, a written request and a fee of 20 percent of the purchase price (minimum $1,000).
Stated purposes: reduce the city's inventory of public parking lots, increase the potential of the East Dearborn Business District, and cut costs.
Passed 7-0 (all seven members present; no nays).

Sale of four city parking lots authorized 7-0 with a three-year development requirement.