In the final days of January, Elmhurst city council members chose a developer for the Hahn Street redevelopment project. The project, thought to have reached the final design, could be a $50 million retail and residential project for Hahn Street, at the north end of the downtown area.

With a vote of 9-4, aldermen chose Morningside Hahn, LLC, of Chicago. Mayor Steve Morley stated that Morningside was the preferred applicant and with the vote in, city staff can begin negotiations to finalize design, construction and the financial details for the redevelopment agreement. One alderman stated that the project wasn’t simply about money, but rather longevity. The goal is to create a building that will be around for 50 or even 100 years. In the end, another alderman stated that they voted for the company that best understood the needs of the community.

Morningside Hahn, LLC proposed a rendering of a six-story version of the design for the project which featured a ground-level plaza and an event pavilion. The plaza was flanked at the north and south by 12,000 square feet of retail spaces. The side of the structure that faces York Street will be six-stories tall, but will step down to three stories fronting Addison Street on the west side of the project. The project includes 162 public parking spaces and 294 private spaces for rental apartments. The plan also establishes 146 one-bedroom apartments and 61 two-bedroom apartments.

A competing proposal was submitted by Lincoln Properties, a Dallas-based office. Lincoln’s project was a proposed five-story building with 216 apartments that offered the city more financial benefit than Morningside’s proposal.

The Hahn Street project site is part of the city’s newest tax increment financing district, called TIF 4, which was set forth about a year ago. The total project costs are estimated at $51.6 million, which includes the land acquisition, site work and construction costs.

At the GracikMakinney Group, we are happy to see our city taking on new developments to improve our community. If you are making a move to the area or considering selling your home, we would be happy to speak to you. Drop by the office at 130 W. Park Ave here in Elmhurst, or give us a call at 630-441-5570.