Search
 

JCF To Replace Offices with $65M Apartments

CHICAGO-The firm will present its plan to City Council next week, and will try to get a zoning change for the site by Labor Day for the area, which lacks new rental property.

By Robert Carr | Updated on June 08, 2012

CHICAGO-Schaumburg, IL-based JCF Real Estate is taking a plan for a new $65 million apartment complex to the Chicago City Council next week. The company wants to build the seven-story, 405-unit on the site of an office park near O’Hare International Airport.

John Fitzmaurice, president of JCF, tells GlobeSt.com that the new apartment building would go up where the firm currently has about 80,000 square feet of office in six buildings at the Interpark Corporate Center. The office park, which is currently mostly leased, is at the southwest corner of Bryn Mawr and Delphia avenues. “In this poor suburban office market, the tenants should easily be able to find other nearby space,” he 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.