A private redevelopment agreement and land lease for Old Cook County Hospital and adjacent land will be presented to the Cook County Board of Commissioners April 13 and referred to the County Board’s Finance Committee following conclusion of an extensive Request for Proposal (RFP) process. Civic Health Development Group (CHDG) has been selected to redevelop Old County Hospital and set the stage for dramatic economic development in the medical campus and neighboring area. CHDG will invest approximately $600M in the redevelopment and will pay at least $2M in annual rent to the County over the term of the lease. Pursuant to the agreement, redevelopment and construction of the old building would begin in 2017. The Old Cook County Hospital’s unique beaux arts façade will be restored and preserved as part of the project.

Development of Old Cook County Hospital through a long-term land lease will allow the County to retain ownership of the land. This affords the development team the opportunity to restore the historic building and add amenities such as hotels, housing, retail, pocket parks and infrastructure. New conference, office, high-tech research facilities and parking will serve Illinois Medical District’s (IMD) stakeholders. Three subsequent phases of development will add further mixed-use elements including residential and retail infill around the existing parking garage, and transform the land north of the historic building by framing and leveraging the façade of the old building. The redevelopment project requires no capital investment or direct subsidy from the County. After review by the Board’s Finance Committee, the full Board may vote on the Redevelopment Agreement at its May 11 meeting.