Madison Street office development in Oak Park still in play

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By Anna Lothson

Staff Reporter

The long-delayed four-story Oak Park office building is still moving ahead, according to Mary Jo Schuler, head of the development team, Madison Highlands LLC.

The group purchased the parking lot from the village years ago to construct upscale office space, but when the economy tanked, it took progress on the project with it. The group has been granted multiple postponements from the village board.

Schuler confirmed last week that the group is still pursuing the project but did not give a timeline.

In the meantime, the houses nearby, which the group owns, are set for demolition soon. Last week, bulldozers sat nearby and they were expected to start up around Christmas. Schuler said the homes are being taken down to better position the site for development.

Contact:
Email: anna@oakpark.com Twitter: @AnnaLothson

Reader Comments

3 Comments - Add Your Comment

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Ray Johnson from Oak Park, Illinois  

Posted: January 8th, 2013 7:07 AM

As background, Village owned land was placed on the market and purchased by this developer (at a profit to taxpayers), who then proposed Class A office space for Oak Park. It had been many years since Class A office space was built in Oak Park, and everyone knew this was going to be tough during this economy. At last nights meeting, the developer advised they were very close to finalizing details with tenants. It is also important to note the first floor is retail, so additional tenant leases are also part of the development. I give the developer credit for their tenacity in working to make this project happen. Related to the post about Village taxes, once the property was sold to a private developer, they have been required to pay property taxes, so we are getting some revenue which we were not previously receiving. When the project moves forward, we can expect renewed vitality for this portion of Madison.

Steve  

Posted: January 8th, 2013 6:23 AM

WOW, that is one ugly building. Why is it being built? Who needs office space, that big, in Oak Park?

maggy  

Posted: January 2nd, 2013 5:59 PM

that's pretty, who is going in there? Or just more empty buildings in Oak Park. Not to mention, not bringing in taxes to the village.

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