On Thursday, September 8 at 6:00pm, 8700 MG, LLC., Heartland Real Estate Partners-MG, LLC. and the Village of Morton Grove hosted a demolition ceremony to celebrate an important step towards the much anticipated redevelopment of the 8700 Waukegan Road property.
In April, 2016 the Village approved zoning permits as well as a redevelopment agreement to demolish the existing, 50 plus year-old obsolete office building and construct a 55 million dollar project including a 7-story, 184 unit luxury apartment building and 14,000 sq. ft. of commercial space.
During the ceremony, Mayor Dan DiMaria thanked the many neighbors and everyone who provided input on this project. “The redevelopment of this property with these amazing luxury apartments and new commercial space is one of, if not the largest redevelopment projects within the Village of Morton Grove in past several years,” said Mayor DiMaria. “Heartland Real Estate Partners has an incredible track record for building and managing highly desirable residential and commercial developments. We are excited that Mr. Husman and his team are investing in Morton Grove.”
The project is expected to generate close to $900,000 per year in new real estate taxes as well as new sales tax revenues. The project will improve the streetscape along the Waukegan Road corridor, and will create 150 jobs during construction and 20 new permanent jobs.
David Husman, President of Heartland Real Estate Partners, noted: “unlike some communities that are apprehensive and uncooperative to new projects, Morton Grove welcomed us with open arms. In my 60 years of building projects all over the United States, I’ve never had the kind and good reception that we’ve had in Morton Grove and I really appreciate that. It’s really a unique thing for me. I’m impressed with Mayor DiMaria’s vision and support to revitalize his community and the entire the Village Team has been incredibly supportive and responsive each step of the way”
8700 MG, LLC/ Heartland Real Estate Partners-MG, LLC. anticipate the demolition to be completed by December 2016. The construction will be in phases; the residential building will be constructed first, followed by the 14,000 sq. ft. commercial building. Groundbreaking for the construction phase is expected to begin in May 2017 with occupancy in Fall 2018.
Issued by: Ralph Czerwinski
Village of Morton Grove
6101 Capulina Ave.
Morton Grove, IL 60053