Northbrook-based Red Seal Homes will build single-family homes, townhouses and condominiums in three-unit buildings, its first project in the city. Prices will range from $250,000 for the 1,440-sf condominiums, $300,000 for the townhouses and up to $470,000 for single-family homes, according to president and chief executive officer Todd Fishbein.
The residential portion of the development will take up the eastern third of the site. The company's portfolio includes work on the 550-unit Town of Fort Sheridan, a redevelopment of the decommissioned US Army base on Lake Michigan. Its current development plate includes projects in northwest suburban Deer Park, Mount Prospect and Palatine. In addition, a 60,000-sf, 2,728-seat theater complex will be built on the western end of the development.
"It's going to make a tremendous difference in the neighborhood," says 37th Ward Alderman Emma M. Mitts, who will share the development with 29th Ward Alderman Isaac S. Carothers.
The 407-acre Armitage Industrial Corridor is home to 100 businesses, including M&M Mars, Clover Hill Bakery and Dehler Manufacturing, employing 4,000. Although the project turns part of the Armitage Industrial Corridor residential, owner Cal Boender has been unable to attract buyers interested in returning the vacant land to manufacturing use, according to the department of planning and development. Boender's Grand Central Center for Business paid $5.5 million for the property in 2000.
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