Along with new medical office building, project to help revitalize neighborhood with apartments and retail
CHICAGO, IL — The development arm of Bradford Allen, a Chicago-based national real estate investment advisory, has formally submitted plans for a mixed-use development in Arlington Heights, Ill., to village officials. Located just north of Interstate 90, at the southeast corner of Arlington Heights and Algonquin roads, the project comprises 300 apartments and approximately 25,000 square feet of ground-floor retail.
A joint venture between Bradford Allen and Chicago-based Moceri+Roszak, which is also serving as architect, presented the plans to neighbors during a recent community meeting. As proposed, the eight-story development would include a mix of 68 studios, 143 one-bedrooms, 79 two-bedrooms and 10 three-bedrooms, with 55% of units having balconies. Approximately 30 of the units will be designated as affordable housing.
“There is a great opportunity to revitalize this end of Arlington Heights, where there’s high population density and a strong demand for modern rental housing with easy access to nearby retail and entertainment offerings, as well as I-90 and O’Hare International Airport,” said Brian Carley, senior managing director at Bradford Allen. “We have had productive conversations and received positive feedback from village officials to this point and look forward to hearing back on final approval.”
The building is expected to include 17,500 square feet of indoor and outdoor amenities including an outdoor pool and spa with sun deck, fitness area for yoga and other classes, social and media rooms, business center, library, work-from-home conference rooms, golf simulator, dog walk and spa, grill stations and pickleball court. The development will include indoor parking for 484 vehicles as well as 86 outdoor spaces for the retail component. In addition, the project is seeking ENERGY STAR certification for its environmental sustainability.
The proposed mixed-use development is adjacent to the former Daily Herald building, which Bradford Allen is converting into a 150,000-square-foot medical office complex known as ArlingtonMed. Together, the buildings are part of a potential 16-acre master-planned community that includes additional apartment buildings and retail.
Bradford Allen officially kicked off pre-leasing efforts for ArlingtonMed in September. The existing structure is available for tours by appointment and will be fully renovated to Class A medical office standards upon securing an anchor tenant.
“ArlingtonMed represents a unique opportunity for healthcare tenants seeking high accessibility and visibility along the expressway,” said Joel Berger, senior managing director at Bradford Allen and lead leasing agent for the property. “ArlingtonMed also offers large floor plates that give tenants complete control over how their space is designed, maximizing efficiency while improving the patient experience.”
About Bradford Allen:
Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by principals Jeffrey Bernstein and Laurence Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.
For more information, contact Jeremy Barewin, [email protected], (312) 267-4533.