DL3 Realty and Terraco Real Estate worked together to develop a 48,000 SF Jewel-Osco grocery store. The development is the first full service grocery store in Woodlawn in over 40 years. The 3.5-acre site includes a drive-thru pharmacy and on-site parking for approximately 160 cars, as well as a commissioned public art sculpture by local artist Bernard Williams. The development generated approximately 100 construction jobs and over 200 permanent jobs, helping to stabilize the community and provide convenient access to fresh, high-quality food products.
We, DL3 Realty, are proud recipients of the Chicago Neighborhood Development Award (CNDA) for our Woodlawn Jewel-Osco project, which opened last spring (source: Hyde Park Herald). This prestigious recognition, awarded by the Local Initiatives Support Corporation, highlights our commitment to for-profit neighborhood real estate projects that positively impact the community. Earlier this year, the University of Chicago acquired the property for $20 million, ensuring local control over the land. As managing partner at DL3, I, Leon Walker, express our deep gratitude for this honor, which reflects the dedication and effort we invested in this project. With over 300 associates, 80% from the greater Woodlawn area, the supermarket has had a significant local impact, addressing years of disinvestment in the community and providing entrepreneurial opportunities. DL3 has previously received CDNAs for our work in 2007 and 2016, recognizing our commitment to community development. We are also actively engaged in further revitalizing the area, including the redevelopment of the former Cosmo Beauty Store and plans to transform the Washington Park Bank Building into mixed-use office and retail space in partnership with Greenlining Realty. While the purchase of the bank building from the Cook County Land Bank is pending finalization, we remain dedicated to engaging with the community and addressing concerns regarding historic preservation.