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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.

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