Developers eyeing former industrial land in Mundelein for apartment complex
Developers wants to build an apartment complex on formerly industrial land in downtown Mundelein.
The buildings are proposed for 101 E. Maple Ave. and at 538 N. Morris Ave. The two sites are south of Maple Avenue and separated by the Canadian National railroad tracks.
The developers - AlphaTerra Realty Capital and Landmark Asset Partners - envision offering 108 rental units in relatively small buildings that resemble townhouses.
One- and two-bedroom apartments would be available, ranging from about 500 square feet to more than 1,300 square feet, developer Peter Tremulis told the village board during a presentation Monday night.
Located a short walk from Mundelein's train station and area restaurants and stores, the complex would be called Morris Station.
"We think it's a great location," Tremulis said.
In addition to the apartments, the plan includes more than 10,000 square feet of open space for a park, architect and developer Gene Kripak said.
A roofing business used to operate at 538 N. Morris Ave., while the land at 101 E. Maple Ave. had been occupied by a recycling center until this year. The village owns both properties now, and the previous buildings have been razed to make way for redevelopment.
A different developer, K. Hovnanian Homes, had eyed both properties for residential redevelopment, but that plan fell through because of changes within the company, Mundelein Community Development Director Amanda Orenchuk told the village board.
AlphaTerra and Landmark swooped in to propose apartment buildings on both sites. If the new plan progresses, the groups would purchase the sites for $1.4 million, documents indicate.
The village board approved the term sheet for the sale Monday, which paves the way for the purchase to go through.
If the deal goes through, construction could begin by spring 2021, Kripak said.
A couple trustees and Mayor Steve Lentz spoke favorably of the proposed development.
"I'm excited about it," Lentz said. "It's a type of housing stock we don't really have in Mundelein."