The Lisle Board of Trustees on Monday heard pitches from potential developers for the two-block, 1.92-acre grassy area along Burlington Avenue that formerly hosted Lisle’s Village Hall previous to 2003, and may in the future be home to anything from retail space to apartments to mixed-development, the Chicago Tribune reports.
According to the paper, three proposals came from Mega Realty of Chicago (five-story apartment-buildings with ground-floor retail,) Marquette Companies of Naperville (a similar proposal to Mega Realty’s) and StreetScape Development of Libertyville (mixed development with retail space, apartments, single-family homes and coach houses.)
"There was a redevelopment agreement several years ago, but then along came the recession... so we're basically starting the process again,” Lisle village manager Jerry Sprecher explained to the paper.
"I would say that this particular process we saw tonight will play out for several more months at least.”
Currently the lots north of Burlington (1.21 acres from Main to Spencer, .71 acres from Spencer to Center) consist of green space, mature trees and a small parking lot, the paper said.
Read the full story at the Chicago Tribune website.
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