Prospects look good for Prospect Avenue developments, new restaurants
Downtown Mount Prospect is bursting with new development.
One area of successful cultivation is Prospect Avenue, south of the tracks.
Mount Prospect Community Development Director Bill Cooney highlighted the Prospect Avenue corridor in his presentation Thursday before the Economic Development Commission.
Angelo Caputo's Fresh Market is gearing up for its opening in the Maple Street Lofts, after delays in getting equipment and hiring.
Moving northwest, the former Fannie May location at Main Street is up and running with F45 Training, a workout and training facility.
Further along the corridor, the Prospect Place redevelopment should see the opening of the Whiskey Hill Brewing Co. by Labor Day.
Cooney said a tequila bar is slated to open this summer in the 100 block of West Prospect Avenue.
In addition, Mia's Cantina bought its building and plans to expand.
"I think Prospect could become a cool little stretch there," Cooney said.
Incentives provided through the Prospect and Main TIF have been helpful in spurring development.
"Both the Caputo's and Whiskey Hill deals probably don't happen without the TIF incentives," he said.
In addition to the developments along Prospect Avenue, Cooney also gave a sneak preview to two upcoming restaurant developments downtown north of the tracks. He said the restaurant space at the 20 West apartments is expected to be filled this summer.
The developers of the HQ Residences, being built at 112 E. Northwest Hwy., on the former location of the police and fire headquarters, are looking to bring in a restaurant that, Cooney said, promises to "raise the level of eating in downtown."
On the south side of Mount Prospect, Cooney also talked about the possibilities following the sale of the Golf Plaza II development at the southwest corner of Golf Road and Route 83.
Continental Realty Corp. bought the property, along with four others, late last year from the DiMucci Cos. for a combined $93.6 million.
Cooney said Continental, based in Baltimore, is evaluating a variety of options, including residential or self-storage on the rear of the property.