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ART COLONY; Landmark factories in Pilsen would house artists, architects, dancers and more-but not all are applauding.

Publication: Crain's Chicago Business
Publication Date: 03-SEP-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: ART COLONY; Landmark factories in Pilsen would house artists, architects, dancers and more-but not all are applauding.(News)

Article Excerpt
Byline: ALBY GALLUN

Phil Mumford owns a piece of Chicago's industrial heritage: a turn-of-the-century brick building in East Pilsen where Wendnagel & Co. made the rooftop water tanks that once dominated the city's skyline.

Twelve years after buying the property at 600 W. Cermak Road, he's still waiting for the investment to pay off. Most industrial tenants prefer more-modern, single-story structures, and zoning restrictions prevent him from converting the building into residential lofts. Tenants occupy just half of the building and the one he owns next door.

Yet the property's prospects are brightening as city officials consider a proposal that could fill Mr. Mumford's buildings with a new class of tenants: graphic design firms, fashion...

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