(Read more on the multifamily market.)

HINSDALE, IL-Construction is starting on the 12-acre Hamptons of Hinsdale, a condominium and townhouse development being developed by GSH Development, based here. Klein Construction Services Inc., based in Burr Ridge, is the general contractor for the three-phase project, and recently started construction on the first phase of the development, which is at 5711 S. Grant St. The $65-million to $70-million project will have 93 condominium units and 26 townhouses.

The first phase will have two townhouse buildings and a condominium building. The development, when completed, will be a total of four 50,000-sf, condominium, four-story buildings and six townhouse, three-story structures ranging in size from 12,000 sf to 18,000 sf. The condominium units will range in size from 1,200 sf and 2,200 sf and the townhouse units will range in size from 2,200 sf and 2,800 sf with prices for the units ranging from $445,000 to $845,000.

The property near Hinsdale Central High School was previously the site of 22 apartment buildings which were demolished to make way for the development, says Wayne Klein, president of Klein. The Hamptons of Hinsdale is geared to “the empty nester or somebody who is trying to get the children into the school district without paying $1.5 million or $2 million for a house,” he says.

There will be two condominium buildings and one townhouse building constructed in the second phase of the project and three townhouse buildings and one condominium structure built in the third phase. Construction on the second phase is expected to begin in the spring of 2008 with construction on the final phase expected to begin in the spring of 2009, Klein says. The final phase of the development is expected to be complete in the spring of 2010, he says. BSB Design is the architect for the project.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.