Matanky Realty Group (MRG) recently played a pivotal role in the 79th & Halsted deal in the Chicago neighborhood of Auburn-Gresham. The new owners, the Greater Auburn-Gresham Development Corporation (GAGDC), plan to redevelop this former Bank of America building into a retail/commercial space alongside many of the neighboring buildings within this commercial corridor that the GAGDC also owns. The opportunity to broker this deal and assist in the transformation of this property into a new INVEST SW Chicago revitalization area thrills MRG. This exciting new deal stands as a testament to MRG’s commitment to shaping communities throughout Chicago, Chicagoland, and the Midwest – with a concentration on the West and Southside neighborhoods of Chicago, where many of MRG’s commercial properties reside.
The 79th & Halsted property is considered a prime CRE opportunity for several reasons, but especially because it resides within the designated INVEST South/West redevelopment zone. INVEST South/West is an initiative to further develop and improve ten neighborhoods throughout the Western to Southern regions of Chicago. This community revitalization effort will involve the renovation of pre-existing structures and the construction and introduction of new residences and commercial businesses to these areas. The 79th & Halsted property plays an essential role in this initiative, as the property resides alongside planned developments like the Healthy Lifestyle Hub, affordable housing units, streetscape improvements, and the eagerly awaited Auburn Park Metra Station.
Matanky Realty Group’s mission to aid in the transformation and re-shaping of Chicago’s neighborhoods continues to ring true with this deal. Both the team at MRG and the MRG Broker on this deal, Mary Bonome, look forward to collaborating with the Auburn-Gresham CDC to redevelop the area along the 79th St commercial corridor within the Auburn-Gresham neighborhood.