University of Chicago purchases Harper Court, partners with City to revitalize 53rd Street

The University of Chicago has purchased Harper Court from the Harper Court Arts Council for $6.5 million as part of a community planning process to revitalize the retail environment on 53rd Street.

Alderman Toni Preckwinkle (4th Ward) announced the joint project between the University and the City of Chicago at the May 12 meeting of the Advisory Council for the 53rd Street TIF (Tax-Increment Financing) District. The University of Chicago will lead the City-mandated development process, which will be designed to attract good ideas, high-quality developers and ongoing community input. 

Chicago Consultants on behalf the University of Chicago presented  "Harper Court Redevelopment Area Overview" which outlines development goals and objectives as well as a proposed timeline. The University of Chicago welcomes any comments and suggestions to this document. 

Please forward all comments to Chicago Consultants by June 30, 2008.