“A plan to revamp the Washington Park National Bank building into high-end offices received City Council approval Thursday.
“The Woodlawn-based project at 6300 S. Cottage Grove Ave. received a $5 million community development grant in February. The work is being spearheaded by Revive 6300, a collaboration between two Black-owned firms, DL3 Realty and Greenlining Realty USA.
“Plans call for over 60,000 square feet of office space, a rooftop deck with skyline views, public art installations, ground-floor dining and other retail options. The project is estimated to cost $40 million and will usher in the first new Class A office space to communities south of the University of Chicago in decades, DL3 Realty managing partner Leon Walker previously told Block Club.
“The limestone façade on the 99-year-old building will be preserved and renovated, but the rest of the structure will be demolished and rebuilt due to roof, flooding and masonry damage and other issues. The developers previously planned to demolish the entire building.
“The century-old bank building was bought by the Cook County Land Bank in 2017 after accumulating about $3.7 million in unpaid taxes as it sat dormant for 25 years. While the land bank approved DL3’s proposal to redevelop the property in 2019, myriad issues have plagued the transaction as both parties have been grappling with problems like flooding, confusion over Opportunity Zone regulations and the pandemic.” (Nesbitt Golden, Block Club Chicago, 9/14/23)
Preservation Chicago is thrilled by this successful outcome. We have long urged DL3 Real Estate, the Cook County Land Bank Authority and other stakeholders to preserve and reuse this historic building.
We wish to recognize the leadership of Eleanor Gorski during her leadership of the Cook County Land Bank Authority which was essential to this preservation-oriented direction. Additionally, Preservation Chicago’s dedicated advocacy proved critical at many milestones over the past decade. The Washington Park National Bank was a Chicago 7 Most Endangered in 2016 and again in 2020.
The Washington Park National Bank Building is an important neighborhood anchor on a commercial corridor that has seen the tragic loss of many important buildings. It is essential for the long-term reinvestment and prosperity of this commercial district that this historic building be preserved and redeveloped. The building is linked to the Chicago Race Riots of 1919 and is one of the few structures still standing which witnessed this tragic event on the long march towards equality and social justice.
- Historic Washington Park National Bank Building Gets Approval To Build Luxury Offices; The $40 million redevelopment project, a collaboration between two Black-owned firms, could be completed by 2025, Jamie Nesbitt Golden, Block Club Chicago, 9/14/23
- Washington Park Bank Building approved by City Council, Zoe Pharo, Hyde Park Herald, 9/12/23
- Washington Park National Bank redevelopment approved by City Council; The bank at 6300 S. Cottage Grove will be turned into offices, Lukas Kugler, Urbanize Chicago, 9/21/23
- Plans For Bank Redevelopment In Woodlawn Move Forward, Ian Achong, Chicago YIMBY, 9/6/23
- Plan For Offices At Washington Park National Bank Building Gets $5 Million City Grant; The project will replace most of the deteriorating bank building with high-end offices and retail space while preserving the century-old façade, Maxwell Evans, Block Club Chicago, 2/16/23
- Initial Funding Announced For Bank Redevelopment In Woodlawn, Ian Achong, Chicago YIMBY, 2/19/23
- DL3, Greenlining win $5M grant for century-old Woodlawn bank redevelopment; Revive 6300 will build Class A office space and restore the historic facade, TRD Staff, 2/17/23
- Washington Park National Bank. A 2020 Chicago 7 Most Endangered