A long-vacant former currency exchange on Madison Street is headed for demolition, clearing the way for expanded parking and better access to Rush Oak Park Hospital's emergency department.
The hospital, which owns the building at 1147 Madison St., confirmed on Tuesday, July 7, that it will demolish the structure to make room for additional parking, improved campus circulation, new landscaping, signage, and streetscape upgrades at the corner adjacent to its main campus at 520 S. Maple Ave.
"We are working closely with the village of Oak Park to move this project forward in a way that minimizes disruption to our neighbors, patients and visitors," said Dr. Dino Rumoro, chief administrative officer of Rush Oak Park Hospital.
Permits and timeline
Craig Failor, director of Oak Park's development services department, said the hospital has submitted applications for demolition and for site and landscaping plans. All are under village review as of July 7.
Asbestos and lead paint abatement inside the building is already underway and expected to be finished by Friday, July 10. Construction on the full project is targeted for completion by early October 2026.
A hospital spokesperson said the project will improve the appearance, accessibility, and safety of the prominent corner and noted it is a standalone effort, not part of the hospital's ongoing long-term master planning.
Hospital context
Rush Oak Park Hospital is one of the village's largest employers, with between 501 and 1,000 employees listed on its LinkedIn page. The campus already includes a free parking garage on Wisconsin Avenue, surface lots on Maple Avenue, and a free valet lot on the southwest corner that opened in November 2021 with more than 80 spaces.
The hospital opened a $30 million, 55,000-square-foot emergency department in 2019. Hospital officials said the new parking and access improvements at 1147 Madison St. will improve traffic flow for patients arriving at that facility.
What's next
No village board vote or economic development committee hearing has been announced for the project. Failor's department is reviewing the permit applications, and no approval timeline has been made public.
