Projects could include office space or residential units on the upper floors, village officials say. However, plans involving the Dreshler building must preserve its historic value, they add, and projects must promote pedestrian traffic.
The two sites, acquired for about $1 million, offer more than 180 feet of Lake Street frontage.
"Today's retailers demand street frontage – particularly in a pedestrian-oriented area like our Downtown," says development director Michael Chen. "By taking advantage of opportunities to buy adjacent properties in desirable locations, the village is able to assemble parcels to make a bigger, more functional site."
Proposals are due May 2.
"The momentum and interest created by the new retail development just to our west has made our Downtown very desirable for investment," says Village President Joanne E. Trapani, referring to retail projects across Harlem Avenue in neighboring River Forest. "We need to act while the interest is high."
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