Approval for Waukegan condo project
By Dan Moran
STAFF WRITER
WAUKEGAN — A Sheridan Road condominium proposal approved in January but delayed over financial issues is expected to move forward after the City Council approved a revised redevelopment agreement Monday.
Officials with Libertyville-based Marquette Enterprise Group say they expect to have a sales trailer on the southwest corner of Sheridan and Washington Street — until recently a city parking lot — by the end of the year.
"The plan is we've got our work cut out for us," said developer John Bergeron after the 8-1 council vote. "We have an agenda that we're going to be following (with) marketing and a whole list of things."
But Bergeron added that "our project is just really going to be taking off, and we're very, very excited."
The council originally voted Jan. 18 to approve a $26 million first phase, $7.
4 million of which would be covered by the city via a tax-increment financing package. The first phase calls for 68 units, ranging in size from around 1,000 square feet to 2,400 square feet. Per-unit costs were estimated at the time at between $175,000 for one-bedroom units to $500,000 for top-floor models.
STAFF WRITER
WAUKEGAN — A Sheridan Road condominium proposal approved in January but delayed over financial issues is expected to move forward after the City Council approved a revised redevelopment agreement Monday.
Officials with Libertyville-based Marquette Enterprise Group say they expect to have a sales trailer on the southwest corner of Sheridan and Washington Street — until recently a city parking lot — by the end of the year.
"The plan is we've got our work cut out for us," said developer John Bergeron after the 8-1 council vote. "We have an agenda that we're going to be following (with) marketing and a whole list of things."
But Bergeron added that "our project is just really going to be taking off, and we're very, very excited."
The council originally voted Jan. 18 to approve a $26 million first phase, $7.
4 million of which would be covered by the city via a tax-increment financing package. The first phase calls for 68 units, ranging in size from around 1,000 square feet to 2,400 square feet. Per-unit costs were estimated at the time at between $175,000 for one-bedroom units to $500,000 for top-floor models.
posted by Red Alert Collective at 4:57 PM
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