30-Apr-17 – A new fire station at no cost to the city is being considered for River North.

Friedman Properties, Ltd., owner of 31 commercial properties in River North, is proposing to buy the fire station at Illinois & Dearborn Streets for $5 million, demolish it, and then build a new, state-of-the-art fire station at the same location along with a 614,000 square foot office tower.

The tower would cost Friedman an additional $20.2 million. The city estimates it would generate $4.4 million per year in real estate taxes.

(Left) A Chicago Fire Department truck emerges from Engine 42 fire station on West Illinois Street.

The existing fire station, built in 1968, also houses Chicago Fire Department’s Fire Prevention Bureau. The new station would include a training room for the bureau, a “community room to engage residents,” and other modern amenities, according to the city.

“This project has the potential to be a unique partnership that could enhance a prime development location while providing a new home for Chicago’s bravest,” said 42nd Ward Alderman Brendan Reilly on Friday. “I look forward to working through the community engagement process to see if we can make this concept a reality at no cost to our taxpayers.”

The city will still look at any alternative bids for the property. Any proposal would still need to be approved by Chicago Plan Commission and City Council.