"We are close to a deal," says Curt Bailey, director of real estate for Opus North Corp, which is co-developing the 66-acre site. "There needs to be significant roadway improvements along the La Grange corridor and we are still working out the details with the village and the Illinois Department of Transportation." Bailey expects to reach an final agreement with the village and IDOT within 30 days.

"We expect to break ground by the spring," says Bob Pearlmuther, managing partner at Davis Street Land Co., which is based in north suburban Evanston. Davis Street Land is co-developing the project, which will be located on the northeast corner of La Grange Road and 143rd St.

The 460,000-sf mostly retail project will be anchored by a 120,000-sf Von Maur department store. Pearlmuther says that the rest of the retail space will be made up of between 30 and 35 smaller stores and restaurants. There will also be 35,000-sf of office space along with plans for a multi-screen movie theatre complex, which Pearlmuther admits might be difficult to lease in the current tough environment for theater chains.