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Construction Hangover: Fourth Presby May Sell Farm

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Fourth Presbyterian needs money. It needs it to fuel its expansion now underway in the Gold Coast, and it may only get it by selling an asset: The Chicago Lights Urban Farm. With an assessed value of about $3M, a sale of the farm at Chicago and Hudson would go along way toward meeting construction costs for the church's new five-story building. Ian Fullerton writes for Skyline Newspaper that Fourth Presby doesn't want to see the farm erased, so it's crafting potential moves to either sell with a lease-back guarantee or help Chicago Lights raise the money to buy it. The church already has $890K in pledges to date for the latter initiative. Why the sticktoitiveness? Because the farm performs an important community service by employing at-risk youth and creating hundreds of volunteer opportunities. Skyline has more. [Skyline]