A controversial development that’s slated to become Oak Park’s tallest building is being pushed back by about two years.
A Chicago-based developer is partnering with the village of Oak Park to reinvent the corner of Lake and Forest—erecting a 20-story hotel there. But the economy appears to have put a halt to things.
Sertus Capital Partners was originally expected to start construction on the building next month, and complete it in December 2012. But according to an amended agreement between Sertus and the village, the developer now has until May 2012 to start construction and November 2014 to complete it.
The village board unanimously approved the change on Monday, after discussing it first in a closed meeting. Oak Parker David Barsotti, a neighbor of the proposed development, who fought to stop it earlier this year, urged the board to not give Sertus any extra time to finish the development.
“You’ve told citizens of Oak Park that this is good for the community, but most citizens disagree,” he said.