City Council approves Children's Memorial development plan

Posted on April 02, 2014

Crain's Chicago Business

The City Council yesterday approved McCaffery Interests Inc.'s $350 million plan to redevelop the former Children's Memorial Hospital site in Lincoln Park with 760 housing units and 105,000 square feet of retail space, a city spokesman said. Dan McCaffery, CEO of the Chicago-based real estate developers, said he's talking to lenders about construction financing, declining to discuss specifics. He said he hopes to acquire the six-acre site at Halsted Street and Lincoln and Fullerton avenues from the Ann & Robert H. Lurie Children's Hospital of Chicago soon and start construction “as quickly as possible.” Chicago-based architecture firms Skidmore Owings & Merrill LLP and Antunovich Associates have designed the mixed-use project, but Mr. McCaffery said he hasn't yet hired a general contractor...