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City Seeks To Acquire Rezko Land in South Loop

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    Chicago wants a piece of land formerly owned by convicted Illinois fundraiser Antoin "Tony" Rezko.

    The city is making moves this week to acquire the 63-acre lot once co-owned by Rezko, giving the city the right to buy it in the future. The parcel, once destined for homes and an IKEA under Rezko, was described to the Chicago Sun-Times as the largest vacant site near the Loop.

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    Tony Rezko, who prosecutors portrayed as the Svengali-like gatekeeper of former Governor Rod Blagojevich?s inner circle, was sentenced Tuesday to 10-and-a-half years in prison. (Published Tuesday, Jan 3, 2012)

    Though Mayor Rahm Emanuel's spokesman told Crain's Chicago Business there are currently no plans for the space, they're looking for someone with a vision.

    The lot sits between Roosevelt Road and Clark Street, 16th Street and the Chicago River in the city's South Loop neighborhood. 

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    Tony Rezko's Wilmette mansion -- that stunning reminder of Chicago malfeasance the disgraced owner bought for $1.9 million in '99 -- has sold for a few hundred thousand less than analysts expected. (Published Wednesday, Aug 19, 2009)

    The Community Development Commission was scheduled to discuss the proposed acquisition Tuesday.

    The decision inevitably resurfaces memories of Rezko's conviction and political connections. He was convicted in 2008 on 16 counts of fraud, bribery and money laundering crimes and sentenced in 2012 to 126 months, or 10-and-a-half years, in prison.

    Rezko was formerly a fund raiser for convicted former Gov. Rod Blagojevich and years ago had connections to President Barack Obama.