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$58M Redevelopment Plan Brings Out Competitors

OAK PARK, IL-Two months after Whiteco Residential LLC offers to build a 220-unit multifamily rental building with 65,000-sf of retail space, Bristol/Moran LLC, Holley Court Commercial Partners and Hamilton Partners answer requests for proposals.

By Mark Ruda | Updated on October 23, 2002

OAK PARK, IL-While village officials here earn praise from a developer for helping bring a $48-million, 220-unit multifamily rental building to a site north of its Downtown, Whiteco Residential LLC’s plans have drawn three competing proposals. The village issued a request for proposals after Whiteco’s unsolicited proposal, and are now expected to make a choice next month.

Bristol/Moran LLC, Holley Court Commercial Partners and Hamilton Partners have jumped at the chance to redevelop a 1.3-acre site, now used as a 100-space parking lot, at the southeast corner of Harlem Avenue and Ontario Street.

“The village is in an enviable position of being able to pick and choose among concepts,” says Village President Joanne E. Trapani in a statement. “The Harlem-Ontario site is ideal for a major mixed-use development. It is close to public transportation, yet allows access to a major roadway without going through the neighborhood. The site also has some of the village’s taller buildings on its perimeter, which means a larger structure there will not be out of scale.”

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