A $15.9 million apartment and retail complex will be developed in Jefferson Park through a City-owned land sale approved today by City Council.

Appraised at $530,000, two City-owned, vacant parcels at 5161 and 5201 W. Lawrence Ave. will be sold to Jefferson Park Residences LLC for $1. The nearly half-acre of land will be combined with three other parcels owned by the developer for the construction of a four-story, 39-unit building at the southwest corner of Lawrence and Laramie avenues. Four of the apartments will be made available at affordable rates.

The project will also include 9,900 square feet of ground-floor retail space, 41 parking spaces for residents in an indoor garage and 21 parking spaces for shoppers.

The City acquired the parcels in 2006 through a condemnation process.

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