At long last the Children’s Memorial Hospital complex, located at Lincoln and Fullerton, is coming down. It has been vacant since the organization moved to Streeterville in 2012.
A lawsuit was filed to block the proposed $350 million redevelopment project. Some in the community felt the project was out of sync with neighborhood context. But this was unsuccessful. Construction is now set to begin early next year.
It is a good thing that the project is moving forward. Certainly nobody is going to build another hospital there. Having this much dead real estate has not been helpful for nearby businesses. It would seem having things up in the air might not be so great for residential property values either. How can you know how to price your home if nobody knows what will be built on the six acres across the street?
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References:
http://abc7chicago.com/news/demolition-of-childrens-memorial-hospital-begins/1375567/