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REVITALIZATION OF SOUTH PARK PARK RIDGE

In March of 2014, 807-817 Devon was purchased at a tax sale.  The purchasers looked at the building as an investment opportunity and a way to improve the South Park business district with an attractive building for both commercial and residential tenants.  The location is within walking distance to many businesses, restaurants, CTA Blue Line, bus lines and a Mariano’s.  Other neighborhood amenities include a children’s wading pool, park and little league fields just across the street.

The building was showing its age having never been substantially improved since it was built in 1965.  The new owners got to work right away collaborating with their general contractor to assess the condition and formulate their plan to improve the building.

One of the earliest steps was to move out the tenants occupying the second floor apartments.  After that was completed intense work began.  The roof was torn off and two rear atriums with glass ceilings were replaced.  The apartment spaces were completely emptied keeping only the general layout of the apartments.  New kitchens, bathroom, tenant controlled central HVAC, plumbing, windows, doors and finishes were completed.  The apartments, now essentially brand new also received a fire alarm system for increased life safety of the tenants.  The building has closed circuit cameras that span almost every part of the common elements for tenant security.

Not only was the inside fixed up, but substantial improvements to the exterior were completed as well. The building façade was completely re-imagined with new decorative wood paneling and LED lighting in ground and the overhang illuminates the building in the evening.  The commercial tenants will enjoy a highly visible sign freeze, new storefront glass system and heated front walk and rear parking area.  Parking is convenient- immediately in front of the building and across the street.

McLennan Property Management and McLennan Commercial Properties have been retained by ownership to lease and manage the building.  With attractive finishes and a great location the apartments were fully leased in a few short months.  Joining long time tenant Kitchens Baths and More is: Mortgage Masters, Summit Martial Arts- relocating from Schiller Park and a Happy Feet Nail Salon.

Building management has been handled by Stephen Schimmel CPM® McLennan Property Management & Owen Hayes- Broker, McLennan Commercial Properties.

 

 

Posted by: Doris Colson on October 6, 2017
Posted in: Uncategorized