TRANSFORMING COMMUNITIES

ACCELERATING CHANGE. BUILDING COMMUNITY.

I have worked in collaboration with developers, city planners and owners to create change and transition ownership of various property assets in the suburban communities of Elmhurst and Villa Park.

THE MARKE

100 N. ADDISON, ELMHURST, IL

100 N. Addison was previously an office/bank building with a parking lot on one of downtown Elmhurst’s prime corners. The asset had previously been purchased at auction by an individual at an attractive price. I listed, marketed and recommended the winning bidder (Opus) as the purchaser. Opus worked with the City of Elmhurst through an ongoing zoning change to allow for development of The Marke, a 164 unit luxury TOD development. This highly occupied and attractive asset has energized Addison Avenue, brought more residents into downtown Elmhurst and has significantly increased utilization of this prime piece of land. The real estate tax bill has increased from approximately $50,000 to nearly $600,000. This development has resulted in increased utilization of the land via multi-family, increased pedestrian traffic in downtown Elmhurst and revenues for the City of Elmhurst. The presence of an institutional quality partner has spurred further interest in Elmhurst, resulting in additional multi-family activity.

My efforts in working on this transaction for the two years it took to close show the benefits of persistence and working with a quality buyer and patient seller to achieve strong results. The seller was able to achieve pricing not previously attainable in downtown Elmhurst and the purchaser secured one of the highest profile parcels in the downtown area.

BALK BUILDING

ELMHURST, IL

The seller of the Balk Building, a long-time owner of one of Elmhurst’s premier real estate parcels immediately across 1st Street from the Metra Station, expressed interest in quietly marketing the asset for sale. I approached one potential buyer, a group interested in building a performing arts center in downtown Elmhurst. This non-profit group was able to secure backers to acquire the asset at an acceptable price to the seller. This approximately 0.4 acre parcel continues to operate while ownership pursues their goal of building a performing arts center in downtown Elmhurst.

ARCADE BUILDING

ELMHURST, IL

The Arcade Building, family-owned for 70 plus years consisted of nearly 0.5 acres in downtown Elmhurst along Addison Avenue. This 9,000 square foot building contained three tenant suites and a significant asphalt paved area in the rear of the building. A long-time pizza restaurant owned by the ownership group was considering closing. I approached the family, obtained the listing and marketed the property. The two remaining leases both had term meaning that near term redevelopment was unlikely. After a competitive bid situation, the City of Elmhurst was chosen as the purchaser. This parcel adds to holdings the city already has in the interior of this block, allowing for future redevelopment. The price per square foot of this parcel benefitted significantly from Opus’ development of The Marke Across Addison Avenue.

VILLA PARK PLAZA

VILLA PARK, IL

Villa Park Plaza is a nearly 3-acre parcel along Villa Avenue in Villa Park’s dynamic downtown. This downtown has begun to receive redevelopment and interest in its walkable location along the Illinois Prairie Path and Great Western Trail. Villa Park Plaza has a unique roster of tenants consisting mostly of local entrepreneurs including Mike’s Meat Market, Kuppie’s Bakery, Funky Java Coffee, Colleen’s Better Than Breadsticks and a used bookstore. It also contains a laundromat, artistic pottery store, Edward Jones, Ace Hardware and an Illinois State Representative’s office. It is unusual to find this combination of locally owned tenants in one shopping center. I marketed this asset, found a locally based buyer who will continue to operate the center via a community based approach featuring entrepreneurial tenants.