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Ryan Hill Starts Sales at $250M Development

LEMONT, IL-Contracts have already been signed for 12 of the 82 lofts offered at the suburban project, as well as 24,000-sf of retail on the lower level.

By Gina Kenny | Updated on January 04, 2007

LEMONT, IL- Official sales will begin next month for the residential component of Front Street Lofts in Lemont. The Front Street Lofts development will consist of four five-story buildings with 82 loft units, 24,000 sf of retail space on the lower level and a 262-car parking garage in between, says Teresa Ryan, co-owner of Ryan Hill Realty and MRH Projects, Sales and Marketing, which is a collaboration of Ryan Hill Realty and Chicago-based Marquette Cos.

The Front Street Lofts is the first phase of the Lemont Downtown Redevelopment Project, a $250-million mixed-use development is a public/private partnership between the village of Lemont and Marquette. The development is being built using TIF district money and form-based code, a zoning ordinance that governs the form and appearance of buildings instead of individual, specific uses. “Downtown Lemont is a gem. It is an undiscovered gem,” says Ryan. “The lofts are the perfect product for Downtown Lemont… . It is a great location within walking distance of this development for the commuters that are working in Downtown Chicago,” she says.

Construction began in October on three of the four buildings. The lofts will have between 732 sf to 2,232 sf for studios, one-, two- and three-bedroom units with base prices ranging from the $180,000′s to the upper $400,000′s. There have already been 12 contracts signed for the lofts. Contracts have been signed by “young professionals” between 25- to 35-years-old, “empty nesters” and investors, Ryan told GlobeSt.com.

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