Dollar Deals for Chicago Creative Use Owners

Two decommissioned Chicago police stations were a real deal for two lucky owners, thanks to the Daley administration. Each property was sold for $1. Both buildings will have creative uses, with Griffin Theatre Co. and New Moms, Inc. rehabilitating the properties.

The former 20th District station will be turned into two theaters by Griffin, which plans to spend $3.4 million on the project. The old 15th District station will be turned into an $11.7 million home for teenage mothers and their children. The four-story building will provide 40 units of permanent supportive housing, as well as space for day care and job training for New Mom’s residents.

Because both tenants will serve the community, the drastically lowered sales prices haven’t generated much criticism in the Windy City.