The Chicago Transit Board today approved the sale of two CTA properties at 2600 W. Pershing Road and at 1801 W. Grace Street.
The Board approved the sale of a 274,810-square-foot property that housed the former Archer Bus Garage at 2600 W. Pershing to First American Properties LLC. First American submitted the highest bid of $1.6 million among three bidders for the property. CTA closed the more than 100-year-old garage and redistributed about 20 bus routes in 2010.
The Board also approved the sale of a 27,726-square-foot piece of land at 1801 Grace to Commonwealth Ventures LLC, the lone bidder for the property, for $480,000. CTA had purchased that and adjacent property in 2003 as part of the Brown Line Capacity Expansion Project, and has determined it no longer needs the surplus property, which had been used to locate construction equipment during the Brown Line project.
The Brown Line expansion was completed in 2009 and included the renovation of 18 train stations and full accessibility for each station, as well as longer platforms and necessary related infrastructure investments to support growing ridership on the Brown Line.
The properties were sold because neither is critical to CTA operations.
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