Developer debuts plans for Block 56 in downtown Mount Prospect

Plans to makeover Block 56 in downtown Mount Prospect with a four-story multiuse building made their public debut Tuesday night.

Greystar Real Estate Advisors, village officials' choice to lead the redevelopment, presented their proposal for the 3.5-acre property, which currently is occupied by the soon-to-be-vacated police and fire headquarters. The site - bounded by Emerson Street, Busse Avenue, Maple Street and Northwest Highway - also includes the Chase Bank building at 111 E. Busse Ave.

The centerpiece of the plan is a 250-unit luxury apartment building with additional space for retail shops. The proposal also includes public plazas, a memorial to first responders and a 296-space parking garage.

The plan would leave untouched the two properties near the corner of Northwest Highway and Emerson: 113-119 S. Emerson St., which includes Emerson Ale House and a UPS Store, and 100-104 E. Northwest Highway, formerly occupied by Busse Flowers and currently home to Piano Parlor and Mount Prospect Eye Care.

The four-story height of the building was among the features that appealed to village board members Tuesday. Trustee Michael Zadel said it provides a welcome transition from larger developments downtown to the single-family housing adjacent to it, which includes the village's historical society.

"It literally steps down from existing redevelopment that was done, and then steps down again to the single-family neighborhood feel," he said.

The only caveat expressed by board members Tuesday came from Trustees Paul Hoefert and Eleni Hatzis, who said they would have preferred more retail space in the plan.

Greystar was one of three developers that responded to a request for proposals sent out by the village in September. It was chosen by trustees after presenting its plan to the village board at a closed meeting in November.

Village Manager Michael Cassady said what really put Greystar's bid across the goal line was its inclusion of the Chase property, which he said has been severely underused and poorly maintained.

"I think the blight of that building would have doubled each year (if not included in the plan)," Cassady said.

Christine Kolb, senior director of development for Greystar, said events were sent in motion even before Mount Prospect sought proposals.

"We were already under contract negotiations with the owner of the Chase office building, because we saw that property in and of itself ... as being something where you could really have a catalytic development," she said.

Yale Dieckmann, managing director of development for Greystar, said the company is a global firm with 51 offices in more than 200 cities and markets.

The next step for the proposal is the village's Planning and Zoning Commission, which is expected to hear it in May.

If approved by the village, construction would begin in January 2021, with a target completion date in November 2022.