‘It’s a very prime parcel’: Upscale apartment building proposed for downtown Libertyville
A Chicago developer will be seeking informal feedback from Libertyville officials for a proposed 91-unit apartment building near the Metra station in the village’s downtown.
Meeting as a committee of the whole at 6:30 p.m. at village hall, the village board will hear a presentation and discuss the proposal from Michigan Avenue Real Estate Group for 2.4 acres at the northeast corner of Lake Street and Brainerd Avenue.
“It's a very prime parcel here in the downtown,” said John Spoden, Libertyville’s community development director. “That's why they wanted to get feedback before they go through the development process.”
The site’s current zoning allows residential uses only above commercial first-floor commercial spaces and is limited to 69 units. The proposed four-story height of the building also exceeds the current three-story limit.
Current zoning requires 180 parking spaces, but only about 130 are being proposed. The concept also suggests an unidentified land contribution which will need to be assessed given potential commuter parking reductions and impacts on Brainerd Avenue.
The U-shaped building footprint is occupied by four houses fronting Lake Street and other uses north along Brainerd Avenue.
In late 2021, the children of the late John Suydam packaged business and residential rental spaces that comprise Liberty Plaza and put them on the market for $7.2 million. With frontage on Milwaukee Avenue, Lake Street and Brainerd Avenue it has been described as a rare opportunity for redevelopment.
Michigan Avenue Real Estate Group's proposal does not include the portion of the property west from and including Birdy's Coffee House & Little Kitchen, 725 N. Milwaukee Ave. The Suydam property includes two of the Lake Street homes.
With the possible development of another site nearby, the village hired a consultant to do a traffic study of the area, which is ongoing.