$70 Million Apartment Complex On Fox River Could Come To Aurora

AURORA, IL — A nondescript parking lot along the Fox River will likely soon be home to a new 246-unit, $70 million apartment complex. The Aurora City Council will vote on the development at Tuesday night's meeting.

The new building will be located between North Broadway Street and the east bank of the river, between Jake's Bagels and the Aurora Township building.

Under the helm of DAC Developments, LLC, the complex would be the first private new construction in downtown Aurora since 2007, city officials said. Residents will be able to rent out a mix of studios and one-, two- and three-bedroom apartments.

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If approved, the complex would have a swimming pool courtyard with a view of the Fox River and its shoreline, something other developments in Aurora don't have. Developers also plan to create an open space with a park that brings the Fox Valley Park District bike path through it, according to reports from the Chicago Tribune.

David Dibo, the director of economic development in Aurora, told Talking Cities Aurora that there will also be guest parking, a dog-walking area and plenty of common areas in the "full-service" building.

"It certainly will induce more demand for grocery stores and different services and so on," Dibo told a Talking Cities Aurora reporter. "It's part of a much bigger picture within the city, so it sounds incredible here."

Describing itself as providing "luxury rentals made affordable," DAC also has several projects throughout Chicago, Des Plaines and Wheeling. Two of them, at 808 N. Cleveland Ave. in Chicago and at 1425 Ellinwood Ave. in Des Plaines, are estimated to be completed this year.

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