According to several confirmed reports, the City Of Chicago is selling one of its most infamous housing complexes - Parkway Gardens. Parkway Gardens is known in rap songs and in the streets of Chi-Town as “O-Block," MTO News has confirmed.
The infamous projects are being put up for sale by Related Midwest, the real estate conglomerate that owns the 13 acres of land where the 694 apartments are situated. Because much of the housing is government subsidized, MTO News has learned that the City Of Chicago has to approve the sale, and they have.
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“During our time managing Parkway Gardens, we are grateful to have been able to provide fundamental upgrades while also partnering with community organizations to bring new programs and services to residents. We are actively seeking new leadership who will build upon our efforts and continue maintaining the property as affordable housing for years to come,” Related Midwest said in a statement.
And it looks like the two highest bidders are Wall Street hedge funds.