Developer Sterling Bay aims to buy the 18-acre Department of Fleet and Facility Management site for $104.7 million, according to the Chicago Tribune. Initially, the developer planned to commit 10 acres of the riverfront industrial site to park space, but the company has now agreed to include 12 acres.

The land is located west of the Chicago River on Throop Street, according to the report. Sterling Bay’s new proposal promises that the 12 acres of park land will include at least six contiguous acres. Some of the open space will be along the riverfront.

The Chicago City Council is expected to review the proposal this week.

Once the sale of the Fleet and Facility Management site sale is completed, Sterling Bay will add to its significant foothold in the North Side. The developer also owns the 40-acre former A. Finkl & Sons steel plant site, according to the report. 

Alderman Michele Smith (43rd Ward) previously argued for more park space at the Finkl Steel site.

Mayor Rahm Emanuel envisions the future of the Fleet and Facility Management site as home to retail, business, and residential developments, as well as the promised park space.