Washington Park's 5050 S. Prairie Mixed-Use Development Receives $4.3 Million Community Grant

5.8 million development, which will transform long-vacant land at the intersection of Prairie Avenue and 51st Street, recently received a $4.3 million Community Development Grant from the City of Chicago.

Designed by 1919 Architects, the four-story building will feature 49 residential units—including studios, one-bedroom, two-bedroom, and three-bedroom apartments—with most units offering outdoor balconies. The ground floor will house 4,400 square feet of retail space earmarked for a restaurant, alongside amenities including a fitness area and community room. Located just steps from the 51st Street Green Line station, the development will enhance transit-oriented growth in the neighborhood while adding much-needed housing and commercial options.

Community members interested in learning more about leasing opportunities or the project timeline can contact KLY Development directly or attend the next Washington Park Advisory Council meeting for updates. The development represents another positive step in the ongoing revitalization of the 51st Street corridor, which has seen several new projects announced in recent years.

Sources:
1. https://chicago.urbanize.city/post/mixed-use-development-5050-s-prairie-receives-community-development-grant
2. https://chicagoyimby.com/2025/06/partial-funding-announced-for-5050-prairie-in-grand-boulevard.html