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Old April 21st, 2007, 07:13 AM   #261
globill
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the preserves of Morton Grove, don't think anyone's posted this yet..2 condo buildings, townhomes and 11,000 square feet of commercial space. pretty cool location right where Dempster meets the North Branch/Forest Preserves



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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old April 29th, 2007, 05:00 PM   #262
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Wow...even Crystal Lake seems to be going a bit urban...this is from a local blog from last year....




Without dissent, the Crystal Lake City Council gave preliminary approval a five-story condo with commercial space at the intersection of East Crystal Lake Avenue and Main Street. It will be located on the old Hines Lumber property and sits within the Tax Increment Financing District that was approved late last year.

(If the subsidy from the TIF district to the developer was mentioned, it was after I got to the meeting.)

The developers, the Hummel Group of Palatine not only sought the height waiver, but said it will seek a waiver from on-site detention of water during storms.

Several members of the council were effusive in their praise.

“I’ve seen what Hummel’s done in Palatine,” observed Councilman Jeff Thorsen. “I think it is going to be a real shot in the arm for Downtown.”

“It will help Downtown by having additional neighbors,” said Mayor Aaron Shepley. “When you have a strong Downtown, people want to live in an area like this.”

Shepley did talk about the complaints neighbors raised about the proposed building’s height, saying, “When you look at those buildings, they’re big.” He noted that only three stories would be allowed without a variation from the city’s ordinance.

“If we’re going to talk about whacking floors off, let’s talk about it now," Councilman Ralph Dawson replied sternly. "They should know.”

“Right now, it presents as a grand, gorgeous building,” Cathy Ferguson said, indicating that five stories was all right with her.

Ellen Brady-Mueller, who made the approval motion, asked before the vote,

You can’t take one (story) away at final (approval) can you?

“No, you cannot,” Mayor Shepley replied
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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old April 29th, 2007, 05:07 PM   #263
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More on the Crytal Lake project

Rail yard project moves forward
By REGAN FOSTER - [email protected]
Comments (1)
CRYSTAL LAKE – A plan to relocate three sets of railroad tracks along Main Street moved ahead with the force of a locomotive Tuesday night, thanks to a 6-1 vote from the Crystal Lake City Council.

Council members gave city staff the go-ahead to execute a $412,141.27 contract with Schaumburg-based TranSystems Corp. for preliminary engineering on the relocation of the Union Pacific rail yard west of Main Street. The company’s responsibilities will include the plan’s conceptual development, drafting preliminary plans, and managing funding applications, among others.

Longtime relocation advocate and project originator Ralph Dawson cast the lone vote against the agreement, saying he didn’t agree with spending public dollars to relocate a private company. But his peers on the board said the proposal could hold the key to a redeveloped entrance into downtown Crystal Lake.

“A half-million dollars to do something for [Union Pacific] and a couple of property owners, I have a problem with it,” Dawson said. “I have to support this issue because I think it’s the right thing to move this railroad, but I’m not happy with the way we’re moving it at this time.”

TranSystems in February introduced a $6 million proposal that would include swapping the current Union Pacific-owned land west of Main Street between Crystal Lake Avenue and Route 14 for city property south of Crystal Lake Avenue near the old Oak Industries building.

Union Pacific’s current three-track holding area would be expanded to five tracks, while existing railroad crossings – located west of Main Street into the Jewel parking lot, on Main Street at the Camfill Farr facility, on Main Street in front of the Columbia College campus, and on Crystal Lake Avenue just east of Main Street – would be removed.

They received the necessary stamp of approval from Union Pacific, and city officials since have been researching the logistics and possible funding sources. Mayor Aaron Shepley has maintained that funding will come from state and federal grants or from the Main Street tax-increment financing district, and would not require taxpayer dollars.

“In order to move forward, we need at least a 30 percent plan,” City Building and Engineering Director Victor Ramirez told council members Tuesday. That, he said, would give potential financiers a tangible idea of the project.

“That’s really a key component at this point,” Ramirez said.

Council members David Goss and Howard “Howie” Christensen both said property owners whose plans to develop land near the tracks could move forward from the relocation must help fund the proposal.

Immanuel Lutheran Church plans to build an expanded facility and school and sell off additional lots for a senior-living complex and commercial development west of Main Street. Real-estate developer the Hummel Group wants to build a combined commercial and residential space on the former Hines Lumber site.

“The possibility for downtown Crystal Lake and Main Street is just phenomenal,” council member Jeffrey Thorsen said. “I’ve always felt that Main Street is crippled by those tracks.”
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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old May 5th, 2007, 12:40 AM   #264
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Unfortunately, the plans for a hotel and convention center in Aurora have been cancelled.

In other news...


http://www.globest.com/news/899_899/.../160363-1.html

Hotel Under Construction at $300M CityGate
By Gina Kenny


Construction has begun on a $43 million hotel that will be part of the CityGate Centre, a mixed-use development at the interchange of I-88 and Route 59. “We believe that the product is missing in Naperville. There is no upscale four-star hotel in Naperville,” says Daniel Slack, president of Calamos Real Estate LLC. Chicago-based Calamos is developing the $300 million project that will also include office and retail components.

The CityGate Centre Grand hotel will have 144-rooms, with overnight stays expected to be about $200, Slack says. The hotel will also have a European-themed restaurant, a lobby lounge, spa and fitness center. The hotel’s interiors and exterior is being designed by the architectural firm of Lohan Anderson. The hotel is expected to open next summer and will be managed by Portfolio Hotels and Resorts.

The 12-story hotel will have a 500-person banquet facility, board room and other meeting facilities. Slack said the area is missing an area where board meetings can be held. In particular, there is not a facility in the area where a person could stay the night and then attend a corporate event, like a board meeting, without having to leave the building. Currently, a business would have to go to downtown Chicago for corporate events, he says.

The mechanical systems will be energy efficient, locally produced materials are being used, they are using elements that are recycled and they “have a recycling program in place during construction,” Slack says. Once the hotel is open, they will have “environmentally friendly housekeeping,” he says.

The hotel is part of a 31-acre development that will also include a 600-seat performing arts center, 150,000 sf of retail and one million sf of office space. The plan for the mixed-use project is to “create an urban oasis” that is for people “that move to the suburbs from the city to raise their family, but still crave the city experience,” he says. “It will have a corporate feeling during the day but an entertainment feel during the evening.”

The office building CityGate Centre I, designed by Lohan Anderson, and the Shops at CityGate Centre are expected to open this summer. The first phase of the office will have about 213,000 sf and the first phase of the office will have about 57,000 sf. The asking lease rate for the office space is $19.50 per sf and the asking rate for the retail space is between $28 and $29 per sf, net, Slack tells GlobeSt.com. No leases are signed yet but they are in negotiations with several possible tenants for the office space and, for the retail, they have “several letters of intent from retail and restaurants,” Slack says. The center will have “upscale fine dining,” “upscale retail” and some “convenience” businesses such as a coffee shop. The Shops at CityGate Centre are being marketed by Becker Realty and the office space at CityGate Centre I is being marketed by Cushman & Wakefield. Calamos expects the entire project to be complete by 2010.

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Old May 9th, 2007, 01:10 AM   #265
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New TOD for Tinley Park

The sales office for Tinley Park Place has just opened.

The site, located on North Street and Oak Park Ave., is currently home to Teehan's Tavern, the Tinley Ice factory, a liquor store, and a few old, but not historically significant, homes.

When complete, Tinley Park Place will be home to 115 1-2-3 bedroom condos housed in two seven-story and one four-story buildings, 44,000 square feet of retail, 16,000 square feet of office, and an 11-screen Classic Cinemas.

North Street runs parallel to, and along the north side of, the Metra/Rock Island tracks, and is just across the street from the new Oak Park Ave. station.







Sorry for the small renders; I'm looking for better ones.

In a related development, Hansen Development is awaiting approval from the village on Tinley Park Marketplace, another mixed-use TOD located on South Street and Oak Park Ave.

South Street runs parallel to, and along the south side of, the Metra/Rock Island tracks, and is just across the street from the new Oak Park Ave. station.

Tinley Park Marketplace is purported to have 80 condos, as well as retail and office spaces, in three four-story buildings.

Tinley Park Place's website http://tinleyparkplace.com/index.php
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Old May 9th, 2007, 08:14 AM   #266
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cool for Tinley Park.
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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old May 11th, 2007, 05:29 PM   #267
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any new stuff springing up in wheaton?, being at away at boarding school puts me out of touch with the home
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another social casualty
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Old May 11th, 2007, 07:05 PM   #268
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^Well there's Courthouse Square and then another one called Wescott Crossing.
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Old May 11th, 2007, 07:29 PM   #269
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Another one bites the dust....

http://www.chicagotribune.com/news/l...l=chi-news-hed

Curtain lowers on fight to save theater

By Art Barnum and Burney Simpson

Chicago Tribune
Published May 11, 2007, 12:08 AM CDT

As the last part of the marquee on the historic DuPage Theatre came crashing to the ground Thursday afternoon, so did a saga that tore apart neighbors, politicians and preservationists in Lombard for years.

Deciding what to do with the 79-year-old theater had gone on for more than a decade, and much of it had already been knocked down, but supporters had been furiously filing protection orders hoping to save what was left

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Old May 16th, 2007, 08:16 AM   #270
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2 hotels proposed for 'coveted' Rosemont site

http://www.chicagotribune.com/busine...i-bizfront-hed

2 hotels proposed for 'coveted' Rosemont site

By Richard Wronski
Tribune staff reporter
Published May 16, 2007


Plans are under way to develop two more hotels in Rosemont, which would bring the total in the convention mecca to 19 if all the projects are completed.

The two hotels would be built on a long-dormant but high-profile stretch of vacant property in the heart of the village, officials said Tuesday.

Developers are asking Rosemont to approve plans for a "high-end" hotel, possibly a Conrad Hotel, and a Hampton Inn on a 5-acre tract at the northwest corner of Higgins and River Roads, officials said.

"That's one of the most coveted parcels in the village," said Rosemont spokesman Gary Mack.

Rosemont's late mayor, Donald Stephens, tried to have the village purchase the property for many years but was unsuccessful, Mack said.

The two hotels together would total 502 rooms, according to the Rosemont Zoning Board. The project would include a parking garage and at least one restaurant. A hearing is scheduled for May 29.

Mack and Village Atty. Peter Rosenthal said a final decision hasn't been made.

Developers include Raymond Management Co., of Madison, Wis., which specializes in Hampton Inns.

Neither Raymond nor the company's representative, Nicholas Peppers, of the Rosemont law firm Storino, Ramello and Durkin, returned calls Tuesday.

If the hotels are built, it would bring the number of rooms in the 2.5-square-mile suburb to nearly 7,000.

Rosemont already has 14 hotels. Three more–an Aloft, an InterContinental and a Marriott Courtyard–either are being built or have been approved.

Village officials anticipate that another hotel will be part of the proposed Grizzly Falls water park, but plans have not been submitted.

[email protected]
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Old May 20th, 2007, 07:36 PM   #271
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13 story building in Waukegan?

http://www.suburbanchicagonews.com/n...GAN_S1.article

$100M dollar development for old News-Sun site

May 16, 2007
BY NICHOLAS P. ALAJAKIS


The company that developed the tallest building in the Chicago suburbs is proposing a new, 13-story, $100 million development on the site of the former News-Sun building in downtown Waukegan.

Developers with Chicago-based Beitler Real Estate Corp. unveiled plans Tuesday for a 500,000 square-foot residential/commercial mix building that could be completed by fall 2009.

Beitler president, J. Paul Beitler, said his company's desire to develop property in Waukegan comes as people from Chicago and Milwaukee continue to move to the north and south respectively.

"Waukegan is in transition right now," Beitler said. "This will certainly wake a sleeping giant."

The project will be located on Sheridan Road, between Madison and Clayton streets. The modern design, with extensive glass, will use a portion of the News-Sun building's facade for a 465-car parking garage.

The 13-story building will feature one and two-bedroom 245 apartment units, that will be converted to condominiums within five years. The lower floors will feature 36,000 square feet of commercial development, including a second-story restaurant. The building will cost between $80 and $100 million to construct, Beitler said.

Robin Schabes, director of downtown development for the city, said she was impressed with the look of the building. "I think it's a good idea to have something (like this) in the downtown area," Schabes said.

Despite showcasing the proposed building to a room of residents on a overhead projector, for roughly ten minutes, Schabes and assistants with Beitler said they did not feel comfortable releasing an image of the building for publication, because they didn't want to get people's "hopes up."

The city is still meeting with Beitler's group to finalize the plan for the tower. City Council is looking to vote in the building as soon as possible, Schabes said.

Beitler said he wants to break ground by fall, and would take 24 months to construct. The proposed development is small by Beitler standards. The company has been responsible for Oak Brook Terrace in Oak Brook and President's Plaza and Triangle Plaza near O'Hare. At 32 stories, Oak Brook Terrace is the tallest building in the suburbs.

The former News-Sun building has been vacant since the late 1990s. The building previously housed the News-Sun from 1967 to 1998, before it was sold to the City of Waukegan for $1. The city has not yet finalized any sale figures with Beitler, Schabes said.

Beitler said he is confident that both sides will be able to work out a deal so that large development, which has not yet been named, will become a reality.

Beitler plans on hosting a naming contest for the building, with the winner receiving $1,000 in cash and plaque on the base of the building. Details on the contest are expected in the next 30 days.

"This will bring people and get a downtown sense of life as fast as possible," Beitler said.
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Old May 22nd, 2007, 01:05 PM   #272
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Excellent news for Waukegan. Waukegan actually has the most potential of any of the older urban burbs imo. Mainly because living in Waukegan offers residents a huge job area, spreading from Milwaukee to Chicago.
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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old May 22nd, 2007, 01:07 PM   #273
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Here's more Waukegan news, seems as if the city really is on the verge of some major momentum..

Lakeview tower goes condo
Developers bet $3 million on grand view from bluff

May 7, 2007
By JIM NEWTON [email protected]

Banking on a good market for lake-view condominiums in downtown Waukegan, a local real estate partnership has embarked on a $3 million redevelopment project for the former Harborview Apartments.

The 13-story building on the northwest corner of Sheridan Road and Washington Street will feature first-floor retail, second- and third-floor offices and a total of 54 condos on the fourth through 12th floors. The 13th floor will feature an expanded penthouse.
» Click to enlarge image
An expanded penthouse and balconies on corner units are part of the $3 million conversion to condominiums at the former Lakeview Apartments building at Washington Street and Sheridan Road, Waukegan.
(Michael Schmidt/News-Sun)

» Click to enlarge image
Rendering of new lakeview condominium.

"We're very excited about it. How can you not like it with the views you have of the marina and the lake. You can even see the Chicago skyline," said Tim McDonald, who is redeveloping the former apartment complex with partner Mark Zall.

McDonald said that at an initial price range of $130,000 to $260,000 per unit, the condos will be an attractive investment target in revitalizing downtown Waukegan.

Model condominiums have already been completed on the fifth floor, and a sales office is scheduled to open May 11.

McDonald said that with the building in easy walking distance of the Metra station and the Lake County Building, the office space will be marketed in large part to the local legal community. The retail space will probably be the last phase of the development, he said.

Ray Vukovich, director of governmental services for the city, said the redevelopment will allow condo buyers "to actually have an equity in the renaissance of Waukegan."

"It's an interesting building," Vukovich said of the 102 Washington St. property, which in previous eras housed the Chateau Waukegan, the Hotel Waukegan and the Harborview Apartments.

"Mixed use is best for that area," he said.

Redevelopment improvements to the building include pressure washing, tuck-pointing and the addition of balconies to residential corner units.

A grand opening party open to interested people is scheduled for 5 to 9 p.m. Friday.

McDonald said he hopes future tenants will be able to begin closing on units and moving in by mid-summer, and that some of the offices will begin opening in the fall.

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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old June 3rd, 2007, 04:11 PM   #274
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METRO & STATE
Luxury apartments, shops OKd for downtown

Published June 3, 2007

SKOKIE -- Skokie announced it will partner with Avalon Bay Communities Inc. to transform a 2-acre downtown parcel into a mix of retail businesses and luxury rental apartments.

The village made a decision this week after hearing proposals from two other builders who expressed interest in the property bounded by Brown and Oakton Streets, and Lincoln and Floral Avenues.

Avalon's plan calls for two buildings with 186 apartments and 26,000 square feet of retail space on the ground floor. The projected cost is $45 million.

One reason Skokie chose Avalon's plan was for the infusion of rental units.

Officials said rental units in Skokie have dwindled over the years, as building owners converted apartments to condos.

"I like the idea of rental," Trustee Donald Perille said at this week's board meeting. "I always felt there were not enough rental properties in Skokie."

Walter Rebenson, Avalon's vice president of development, told board members that studio apartments at the green-roofed development would rent for about $1,000 per month and two-bedroom places would rent for $2,000.
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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old June 5th, 2007, 08:41 PM   #275
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Interesting conversion

The Grand Lofts
Franklin Park
~200 units
Conversion of a former Motorola factory

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Old June 16th, 2007, 08:12 PM   #276
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http://www.dailyherald.com/search/se....asp?id=322925

Condos in works for other side of Arlington’s tracks

By Sheila Ahern
Posted Thursday, June 14, 2007


The rash of condos and stores located throughout the south side of downtown Arlington Heights may be spreading over the railroad tracks to the downtown’s north side.

The village’s plan commission unanimously endorsed plans for a new, eight-story retail and condo building on Wednesday.

The project — called Parkview Condominiums —would feature 49 one- and two-bedroom units and 3,778 square feet of retail space at the corner of Eastman Street and Dunton Avenue.

The building would be 100-feet tall.

The project still needs final approval from the village board. The board will probably vote on the project in July, said village planner Matt Dabrowski.

“The developer has been working with the village for years on this project,” Dabrowski said. “It’s a nice addition to downtown and could be a catalyst for development on our north side.”

Plans call for 17 one-bedroom units and 32 two-bedroom units along with a two-level, underground parking garage. The condos would range in size from 800 to almost 3,000 square feet and cost between $260,000 and $970,000, said Jim Tinaglia, the project’s architect.

Two top-floor penthouses would each have a private rooftop terrace, he said.

A dry cleaner used to operate on the site, which houses boarded-up storefronts today.

“I’m so glad you’re cleaning up that site,” said plan Commissioner Carole O’Neill. “It’s been so ugly and so blighted for so long.”

The last major development on the north side of downtown was the 201 N. Vail Ave. building, which opened in 1991. Three residents of that development spoke at Wednesday’s hearing and expressed concern about how close the new building would be to their North Vail Avenue building. At some points, only 40 feet would separate the two.

“Close enough to shake hands,” said 201 N. Vail Ave. resident Matt Lombardi.

If approved, construction on Parkview Condominiums would begin in November 2007 and finish in June 2009, according to a village staff report.

About 20 street parking spots would be removed during construction.
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Old June 17th, 2007, 03:21 PM   #277
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Even the most rabid suburban-hater must give kudos to Arlington Heights. What an enlightened """village"""".
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"in my little opinion it does matter what fairy tales some small time senator says to get elected, how fast he drops his associates that may harm him, and what is really behind it." nygirl

"I told you what I thought about that when I said I do not trust Obama and I probably never will. He hasnn't proven anything to me or you yet but he has flapped his lips plenty. And that I guess, is enough for some of you smarties in here." nygirl
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Old June 20th, 2007, 06:02 PM   #278
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LaFox rezoning approval likely
Nearly 1,300 homes would be added

By William Presecky
Tribune staff reporter
Published June 20, 2007
Kane County officials have recommended rezoning more than 1,200 acres of open land surrounding tiny LaFox, an unincorporated hamlet west of Geneva, for a massive new residential and commercial town center.

The County Board's Development Committee voted unanimously Tuesday to recommend the full board grant the rezoning petition by developers Wyndham Deerpoint Homes and Foxford LLC for their planned Settlements of LaFox. The project is expected to take more than 10 years to complete.

The Development Committee voted in February to approve the preliminary plan for the project. It is expected to include 1,275 residential units -- 1,194 single-family homes and 81 town homes -- clustered in neighborhoods that link to a town center and a commuter rail line. The full board is expected to approve the rezoning petition when it meets July 10.

The Settlements of LaFox is designed to cover roughly 2 square miles bounded generally by Keslinger Road on the south, Illinois Highway 38 on the north, Brundige Road on the east and Harley Road on the west. The development area is about midway between Geneva and Elburn.

In recommending approval of the rezoning petition, Development Committee members reiterated their praise for the collaborative planning process, which involved the existing residents of the more than 150-year-old LaFox, that led up to the plan for the Settlements of LaFox.

"This has truly been a unique situation," said committee member Jan Carlson (R-Elburn), referring to the years-long collaboration between the developers and the community that led to a consensus plan for the area.

LaFox, composed largely of buildings from the mid-19th Century, is Kane's only county-designated historic district.





Hopefully they can make it work next to the commuter station and "town center" or whatever. Although there's only 1 residential unit per acre of land used for the project
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Old June 27th, 2007, 05:43 AM   #279
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13 story tower in Oak Park?

http://www.wjinc.com/main.asp?Sectio...35&TM=60913.77

13 stories planned for Lake/Forest
Village would swap land for garage

By BEN MEYERSON


A developer presented preliminary concepts for a building on the northeast corner of Lake Street and Forest Avenue last Wednesday night depicting condos and retail enveloping a parking garage with a recessed multi-story extension on top.

In a presentation to the village board, Sertus Capital Partners LLC proposed a mixed-use building that it envisioned would connect The Avenue Business District with Downtown Oak Park.

The project would encompass what is now the building that holds the Original Pancake House and CertifiedLand, the Grace Episcopal Church parking lot, and the Forest Avenue parking garage.

The presentation, which was the first set of ideas Sertus has shown to the public, depicted retail and condos surrounding a parking garage on three sides, with a recessed seven-story tower extending from a green roof.

As the initial concept was presented, the base of the building would rise six stories, with a seven-story condo tower set along the northern side.

At Lake Street, the building would be 56 feet tall, but the L-shaped extension would reach 123 feet tall at its highest point.

The current parking garage has 349 parking spaces; the new building would provide 510 public spaces in addition to as many as 320 residential spaces for the 208 condos.

Two floors of retail-totaling approximately 23,000 square feet-would face Lake Street and Forest Avenue. Condos and retail would make up the rest of the building, masking the parking garage except for its entryways on three sides.

Sertus principal Michael Glazier repeatedly emphasized at the meeting that the firm was extremely flexible, and that the presentation only depicted a rough set of preliminary concepts.

However, Glazier said he believes the mass of the current sketch is roughly what is needed for the project to be economically feasible.

The current retail building on Lake, Glazier said, "is not of the critical mass that I think Oak Park is desirous of."

Sertus bought that property in March 2006 for $9 million, and has also since made an agreement with Grace Church to purchase its parking lot.

The group hopes the final piece of land for the project-the L-shaped municipal garage-would be entered into by the village, creating a public-private partnership under the pretense that the village would pay for construction the new public parking deck within the project.

As Sertus presented the concept, money would not change hands between the two sides. Glazier also added Sertus would not ask for subsidies from the village to fund the privately owned portion of the building.

"We don't believe that the private sector needs any subsidy," said Glazier.

Glazier said Sertus is aiming to get zoning approval for the project by the end of the year, but is willing to wait if progress is being made at that point.

Former village Trustee Robert Milstein said he was against any more condos in the downtown area and was wary of Sertus' statement that the building's proposed size is necessary to be profitable.

"Our job as a village is not to guarantee a particular profit to individuals," Milstein said. "It has never been one of our deciding factors. [Sertus's] margin of profit isn't my or any villager's concerns."


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Old June 27th, 2007, 12:49 PM   #280
ardecila
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Wrong thread, spy. This should go in the (confusingly-named) Westside/Suburban Development News thread, which includes Oak Park, Cicero, River Forest, etc.
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