HAINESVILLE, IL-SWSS Development LLC, based in Fox Lake, has started construction on the Hainesville Professional Center, 294 E. Belvidere Rd. The project will have a total of 23,000 sf in two buildings on a nearly 2.1-acre site.
Each of the buildings will have eight medical and office units, ranging in size from 1,300 sf to 12,000 sf. Half of the units in the first phase are under contract, says Mark Swierenga, managing member of SWSS. The units are being offered as office condos or for lease.
The site is located on Route 120, with “high visibility,” and is near Lake Forest Hospital and a proposed Advocate hospital, Swierenga says. The development company did a market analysis of the area and found that there is a lot of retail in the area, including a recently completed Walgreens and Starbucks, but that there is not a lot of “professional space” in the area, he says.
Each single-story building will have its own rooftop heating and air conditioning. The asking sales rate for the units is $185 per sf and the asking lease rate for the units is $18 per sf triple net, Swierenga says. There are currently commitments for office space and SWSS is in negotiations with a dental office, he says. The first building is expected to be completed in the winter of 2008.
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