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The owners plan to demolish three century-old buildings to make way for new apartments with rooftop pickleball courts and parking.
The former Little Village firehouse will open as Yollocalli arts center in the summer of 2025.
Sterling Bay's Lincoln Park project has drawn criticism from local Ald. Scott Waguespack for its height and parking but it still cleared the Chicago Plan Commission on Thursday.
Robert Crimo III is accused of killing seven people and wounding 48 others in a mass shooting on July 4, 2022.