The City Council approved up to $2 million in Tax Increment Financing (TIF) support on April 15 for improvements to the Institute of Cultural Affairs’ GreenRise building in Uptown.
The funding will help complete a $4.1 million project at 4750 N. Sheridan Road, which includes upgrades to mechanical systems that are expected to benefit more than a dozen current tenants. The renovations also include new space for the Illinois Department of Human Services, which plans to occupy 11,000 square feet on the ground floor.
The eight-story structure was originally built between 1921 and 1926 as the Mutual Insurance Building and was designated a city landmark by City Council in 2013. Since 1971, entities affiliated with the Institute of Cultural Affairs have owned the building, which houses nonprofit and social service organizations that provide assistance to over 1,000 clients each week.
Efforts by the Chicago Department of Planning and Development have focused on enhancing walkable neighborhoods and improving accessible waterfronts as part of broader community improvements according to the official website. The department employs more than 150 staff members who work on projects related to Chicago’s built and natural environment according to the official website.
The department has prioritized advancing comprehensive growth, sustainability, and zoning policies for Chicago according to the official website. Ciere Boatright serves as commissioner of the department according to the official website, leading operations centered on supporting business development, historic preservation, and community enhancements throughout Chicago according to the official website.
