ORLAND PARK, IL-The village here is hoping to gain a powerfuldeveloper to take on a 65-acre vacant parcel here, with more than2,000 feet along LaGrange Road about a mile north of the Interstate80 interchange. Podolsky Northstar Corfac International isrepresenting the owner, a private investor, but village officialshave already suggested four mixed-use plans.


The road is one of the top retail corridors in suburbanChicago, with stores stretching for miles through many communities.The village is already almost fully built out for retail, withabout five million square feet. The property is not far from OrlandSquare Mall, which is 98% leased, and other national retailersalong LaGrange that include Costco, Lowe’s, Macy’s and Sears.


John Homsher with Podolsky says the land, now an emptyfield, is zoned as Estate Residential District, allowing 1-acrehome sites. However, he says the village has set the site to bezoned mixed-use in its designated Comprehensive Plan. “When we metwith the village they had four or five schematics for the site thatcontained components of retail, medical office, hotel, and maybesome multifamily,” he tells GlobeSt.com. “This area would be greatfor a large retail project, the average income is about $98,000within a five-mile radius. In a couple of years, a project herewould be poised to hit the development cycle just right.”


He says there has been some interest, including half adozen meetings at the ICSC Deal Makers conference last month.though one client is looking at 20 acres. “We’re not sure theclient wants to subdivide. If they do split it up, they’d likelysell it in two pieces.

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