The long-vacant gravel lot directly south of the Paulina Brown Line station has found an owner, the CTA announced Tuesday at their board meeting.
Keeler-Fog Real Estate, LLC has been granted the sale of the land, after submitting a bid of $915,000. The land was appraised at $875,000, CTA Chief Planning Officer Rebekah Scheinfeld said at the meeting.
As previously reported by RVJ, the land has sat vacant since 2009 when the Paulina stationed opened. The property’s sale was scheduled to be put before the board last July, but was later postponed. The announcement at the board meeting was also the first time any potential buyer or bidder was named publicly.
The CTA did not respond to inquiries from RVJ asking how many bids were received for the property.
Scheinfeld offered scant details about any of Keeler-Fog’s plans. The company could not be reached for comment.
According to the LinkedIn profile of Edwin Vdovets, principal of Keeler-Fog, the company has developed several properties for Walgreen Corp. in the Chicagoland area as well as residential properties in Florida.
“The buyer, Keeler-Fog, as I understand is developing plans for a mixed-use development at that site and is still going through the necessary approvals from the City’s zoning processes,” Scheinfeld said.