The Chicago City Council has approved the allocation of $27 million in Tax Increment Financing for the reconstruction of the Congress Theatre located at 2135 N. Milwaukee Avenue. The theater, which has been vacant for a long time, will be restored by the new developer, Baum Revision.
Woodhouse Tinucci Architects has presented a plan to rehabilitate the Congress Theatre. The plan includes a historic restoration of the theater, as well as the addition of shops and apartments while maintaining the current structure and layout. The refurbishment will also involve upgrading the building’s mechanical components, such as the roof, electrical system, plumbing, and ventilation. New windows will be installed to match the character of the original windows.
More details on the Congress Theatre refurbishment project
In addition to the theater, the building will feature two levels of residential space and 13,000 square feet of retail space. The refurbished storefronts will maintain the same layout as the original ones. The development will include 16 apartments, with a mix of studio, one-bedroom, and two-bedroom units. Fourteen of these units will be affordable housing. Notably, there will be no parking available on the premises.
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The $27 million in Tax Increment Funding is part of an $88 million plan to finance the Congress Theatre project. The extension of the TIF district for three years gives the developer more time before the TIF funds expire and was crucial for the city’s approval. Now that all clearances have been obtained, the project can proceed with permitting and construction.
