Humboldt Park Landmark Gets New Life

Lawndale News Chicago's Bilingual Newspaper - Business

The City of Chicago selected Team Pioneros, a 100 percent Latino led project team, piloted by JGMA, Park Row Development with All Construction Group to redevelop the landmark Pioneer Bank Building located at the northwest corner of North Avenue and Pulaski Road in Humboldt Park. The $53.9 million proposal will rehabilitate the vacant landmark bank building and parking lot with affordable housing, an entrepreneurial incubator space, Latino cultural center, and office space. JGMA has committed to relocate River North office headquarters to the Humboldt Park development to become the anchor tenant. The 0.75-acre parking lot north of the bank is planned to be redeveloped with a nine-story, 100 percent affordable, 75-unit residential building; offices for Humboldt Park Family Health; and a potential library branch. The announcement was made by Chicago Mayor Lori E. Lightfoot during the celebration of the two-year anniversary of INVEST South/West, the Mayor’s unprecedented revitalization strategy for 10 historically disadvantaged West and South Side communities. Launched in the fall of 2019, Mayor Lightfoot capped the initiative’s two-year anniversary at the South Shore Cultural Center by announcing $126 million in additional community improvements, including the planned rehabilitation of the landmark Pioneer Bank building in Humboldt Park; a transit-oriented mixed-use complex in South Shore; and a mixed-income housing project in West Humboldt Park.

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