Search
 

Morningside Plans $30M Mixed-Use Development

OAK PARK, IL-Chelsea Street will have 96 condominiums, 12,500 sf of retail space and 245 public parking spaces in addition to parking for development residents.

By Gina Kenny | Updated on September 19, 2007

(Read more on the multifamily market.)

OAK PARK, IL-Morningside Equities Group Inc., based in Chicago, is planning a $30-million, mixed-used development at the intersection of South Boulevard and Harlem Avenue. Morningside and the village of Oak Park recently announced they reached an agreement for the Chelsea Street development, which will have 96 condominium units and 12,500 sf of retail space. The development will also have 245 public parking spaces in addition to parking for condominium owners.

The condominiums will have one-bedroom and two-bedroom units with the average unit size being about 1,200 sf, says Mary Ellen Martin, senior development manager for Morningside. The development was originally proposed as a six-story building but is now expected to be about 260,000 sf and eight stories with an additional level of public parking and an additional level of condominiums, she says. The price for the units will range from the high $200,000s to the $300,000s, Martin says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.