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Originally Posted by Haworthia
Since we're talking about Oak Park, does anyone have any information of what's supposed to replace the building with the Original Pancake House and the Certified Grocery store? The building sits on Lake St and Forest Ave. I've heard a hotel may go in there, but I wasn't sure if there were any renderings for the site. Anyone have any info?
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Lake and Forest project inches forward
New garage, hotel could be on the horizon for downtown Oak Park
By MARTY STEMPNIAK
Staff Reporter
Oak Park is taking the first step toward teaming up with a private developer to create a massive, $100 million project that could completely change the face of downtown.
The village has agreed to work with Chicago-based Sertus Capital Partners toward a possible partnership at Lake Street and Forest Avenue. The agreement is not binding and must be approved by the village board Monday.
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The village owns the garage surrounding the building, which has 350 parking spaces and was built in 1974. Oak Park's downtown master plan calls for a much larger, 750-space replacement.
Basically, this is the first step toward the two parties reaching a redevelopment agreement. Sertus will now create a design and plans for the site that will be submitted to the village. Last June, the developer presented a preliminary concept for the site, which was 13 stories with more than 600 parking spaces, 208 condos, and 23,000 square feet of retail space.
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http://www.wjinc.com/main.asp?SectionID=1&SubSectionID=1&ArticleID=11432
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So there you have it. That is a ridiculous amount of parking. There's already way too much. The article mentions that the master plan considers this lot a prime hotel site, but if a hotel gets built at the Colt site there probably won't be another one here. It looks pretty likely to be 13 stories or more, though.