Annunciation Cathedral of Chicago and Fifield Companies Enter Into Agreement for Transfer of Parish Air Rights
CHICAGO, IL, September 3, 2020 – The Annunciation Greek Orthodox Cathedral of Chicago and the Greek Orthodox Metropolis of Chicago announced today that the Cathedral and Fifield Companies, a leading real estate development firm, have entered into an agreement to transfer, for a fee, excess air rights from parish property to a neighboring property for development.
The agreement follows approval from the parish General Assembly in November 2019, as well as the Metropolis of Chicago after thorough review of the agreement. The agreement is contingent upon Chicago City Council approval of the proposed development at the neighboring property.
“We are excited about the opportunity represented in our agreement and what it means for our parish, the outlying community, and the City of Chicago,” said Nick Hlis, Parish Council President of the Annunciation Cathedral. “In the end, the General Assembly’s approval was predicated on the fact that the agreement will advance the mission of our parish and the life of the church among its faithful.”
Pending approval by the Chicago City Council, proceeds received by the parish will be restricted for the sole purpose of erecting a new Cathedral Center on the existing parish property. The Cathedral Center is anticipated to include a parking garage, day care facilities, a community hall, and office space.
Both the development on the neighboring property and the new Cathedral Center will be independent of one another and have no shared spaces. Moreover, current property lines will remain unchanged.
“The Cathedral is the seat of the Metropolis of Chicago and an architectural treasure. As such, special consideration was given to the proposed agreement to ensure it was consistent with the mission of the parish and sensitive to Annunciation’s status as the Cathedral of the Metropolis,” His Eminence Metropolitan Nathanael said. “My prayer is that the bold and visionary action of the Cathedral leadership will inspire all of our parishes as they respond to new challenges and pave the way to a more spiritually vibrant future.”
The Metropolis of Chicago asks for the prayers of the faithful as city officials consider approval of the proposed development.
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