Inside these posts: Children’s Memorial Hospital

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Children’s may want TIF district for property

Children's Memorial Hospital, pictured here in Lincoln Park, is relocating to Streeterville, around Northwestern Memorial Hospital. (E. Jason Wambsgans/Chicago Tribune)

Children’s Memorial Hospital said Thursday that it is studying whether its property up for sale in Lincoln Park could “qualify as a Tax Increment Financing district.”

Setting up the six-acred property that is for sale at Fullerton Parkway and Lincoln Avenue would result in the allocation of “future increases in property taxes from a designated area to pay for improvements within that area,” officials from Children’s said. “The program typically lasts up to 23 years after the creation of the TIF district.” Get the full story »

Children’s taps U.S. Equities to sell Lincoln Park site

Children’s Memorial Hospital has hired Chicago-based commercial real estate firm U.S. Equities Realty to market the land and building at its current tony Lincoln Park location.

Calling it “one of the most desirable neighborhoods in the Midwest,” hospital officials are hoping the prime six-acre real estate site will fetch a large sum.

Hospital officials would not disclose or speculate on what the sale of the property may raise but it is certainly worth tens of millions of dollars even in the current down market for real estate, say Chicago real estate observers. Get the full story »

Children’s Memorial center healthy for economy

Childrens-Web-Two.jpgChildren’s Memorial Hospital, pictured here in Lincoln Park, is relocating to Streeterville. (Chicago Tribune/E. Jason Wambsgans)

By Bruce Japsen | Executives at Children’s Memorial Hospital say their new medical center project has had a $373 million impact on the economy so far, with another two years of construction remaining.

The hospital, which is relocating from Chicago’s Lincoln Park neighborhood to 225 E. Chicago Ave., just east of Michigan Avenue, will open in the summer of 2012.

Get the full story »