Whiteco Fends Off Two Competitors

OAK PARK, IL-One criticism of Whiteco Residential’s proposed 210-unit multifamily rental tower and retail project at Harlem and Ontario avenues has been the lack of competition against other development ideas. Two years after picking Whiteco Residential to develop the village-owned site, two competing proposals were generated in another request for proposals, with both of them getting rejected.

Holley Court Commercial Partners proposed a food-oriented mixed-use development, with a banquet hall and 12 restaurant, as well as 14,000 sf of retail and office space. It also included a 24,000-sf performing arts center and 18 residential units. Meanwhile, Berggren Realty Corp. pitched a 97-unit proposal with 10,000-sf of retail space.

Whiteco Residential’s latest $42-million plan includes ground-floor retail space including a Trader Joe’s grocery store, but it no longer includes a health club. While village trustees want a third party to provide a financial analysis of Whiteco Residential’s plan, which includes a hefty village subsidy, lack of financial details helped doom the two competitors.