Lawsuit filed over INVEST South/West plan to redevelop historic Chicago building in Humboldt Park

CHICAGO (WLS) -- The company that lost the bid for an INVEST South/West development project is now suing the Lightfoot Administration and the winning developers.

The city took bids for the redevelopment of the historic Pioneer Bank Building at 4000 West North Avenue in Humboldt Park.

RELATED: Mayor Lori Lightfoot announces 3 INVEST South/West winning proposals

The Hispanic Housing Development Corporation filed a complaint Friday, trying to stop the project from going forward.

It cites what it calls the financial irresponsibility of the winning developer's proposal. It also claims favoritism in the bid process by the city.

ALSO SEE: Some residents feel 'shut out' of vision for 'Invest South/West' program, Illinois Answers finds

ABC7 reached out to the mayor's office for a response, but it said the city doesn't comment on pending litigation.