Construction to Start This Summer on Suburban Chicago Retail Project
This summer work will commence on phase one that will involve an approximate 9,000-square-foot freestanding building for Kiddie Academy and a nearly 4,500-square-foot single-tenant building, which is available for lease.
GRAYSLAKE, IL—The Woodmont Co. of Dallas says it will begin construction on phase one of its four-building Washington & Barron Commons retail center here this summer.
The development, being built at E. Washington Street and Barron Boulevard, will be built in two phases. This summer work will commence on phase one that will involve an approximate 9,000-square-foot freestanding building for Kiddie Academy and a nearly 4,500-square-foot single-tenant building, which is available for lease.
Phase two will feature an estimated 8,000-square-foot multi-tenant building and another nearly 3,000-square-foot single-tenant building, both of which are also available for lease.
“The Woodmont Company believes this is a great opportunity to provide retail in an underserved area,” said Grant Gary, president of brokerage for The Woodmont Co. “The center will be located in dense residential community with average income at $116,000.”
The Village of Grayslake, located in central Lake County, IL, is approximately 50 miles north of downtown Chicago and 11 miles west of Lake Michigan. Woodmont points to the village’s thriving business district with more than 1,000 businesses with a mix of retail, office, service, and industrial companies. Major employers in Grayslake include the College of Lake County, CompX International, GFX International, Intrupa Manufacturing and Flag Chevrolet.
Woodmont has developed more than 15 million square feet of retail real estate throughout the United States with a value of more than $4 billion. The firm currently owns, manages and/or leases more than 20 million square feet of shopping centers, including third party management and leasing for institutional clients, realty advisors and private investors.