DL3 Wins Chicago Neighborhood Development Award for its Development of the Woodlawn Jewel Osco


DL3 Wins Chicago Neighborhood Development Award for its Development of the Woodlawn Jewel Osco

Real estate development firm DL3 has won the prestigious Chicago Neighborhood Development Award – Outstanding For-Profit Neighborhood Real Estate Project – for its development of the Woodlawn Jewel Osco located at 61st Street and Cottage Grove Avenue. The 48,000 square foot store has become a catalyst for an economic comeback in the area. This is the third award DL3 has received since 2009 for its groundbreaking work to encourage more private-sector investments in the most under-served neighborhoods in Chicago.

“DL3 is guided by the principle of doing well by doing good,” said Leon Walker, Managing Partner, DL3. “Building and strengthening our communities is not only a life’s work, but a life’s purpose. And it starts with bringing capital to communities. We are so proud that the Woodlawn Jewel Osco has won this award. It would not have been possible without an extraordinary partnership of public- and private-sector organizations working together.

” The Chicago Neighborhood Development Awards (CNDA) recognize the vital role developers play in building communities in Chicago-area neighborhoods. The Outstanding For-Profit Neighborhood Real Estate Project Award, won this year by the Woodland Jewel Osco, recognizes a for-profit developer for a specific real estate project that has contributed significantly to the enhancement of the community. Nominated projects were evaluated for: impact on the community; involved local residents in the planning process; ability to meet local needs and overcome obstacles, creativity in design and finance.

The CNDAs are given annually by Local Initiatives Support Corporation (LISC) Chicago, part of the nation’s leading community development support organization LISC Chicago has been working in Chicago neighborhoods since 1980, working with residents and partners to forge resilient and inclusive communities of opportunity and well-being.

The Woodlawn Jewel-Osco was completed in early 2019 and is widely considered to be a catalyst for the revitalization of the area. The development brought 300 jobs and provides fresh produce and healthy options to what was previously a documented food desert. The property was recently sold to a venture group tied to the University of Chicago under terms that signal a positive business case for similar developments.

DL3 Realty is a locally engaged and nationally recognized full-service real estate development firm that is dedicated to transforming communities through high-impact commercial real estate. From medical centers to grocery stores, DL3’s connection to community creates a pipeline of development opportunities that improves the quality of life for everyday Chicagoans. DL3 continues to expand through new developments and acquisitions of commercial sites, including an active pipeline of over $100 million in commercial projects designed to elevate Chicago's urban communities.

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