The City Council approved the sale of a city-owned property at 426 E 42 Place to KBM Holdings LLC under the ChiBlockBuilder platform. KBM Holdings LLC, owned by Bonita Harrison, plans to construct a three-story residential building comprising three condominium units and a parking pad with two surface parking spaces, including one ADA accessible spot. The estimated project cost is $926,579. The purchase price for the land was determined by CBRE to be $76,829. The sale is subject to several conditions, including the submission and approval of final construction plans, obtaining all necessary building and zoning permits, and proof of financing. The Buyer Entity must close on the acquisition within six months of the ordinance's passage, or the ordinance will be nullified unless the Commissioner extends the closing date.