Downtown Winnetka residential project gets village OK
By DENNIS RODKIN
Almost two years after a developer proposed a new residential project in Winnetka’s downtown area, the village board went for the Winn this week.
Formerly known as One Winnetka, the Winn received approval from the village council on Jan. 17, according to Mike D’Onofrio, the suburb’s director of community planning.
Construction on the 62-unit project, which will have a mix of condos, townhouses and rentals, should begin in June, said David Trandel, CEO of Stonestreet Partners, the development firm that first proposed the project in March 2015.
Designed in a Parisian style, topped with a mansard roof by Lucien Lagrange Studio, the five-story development at Lincoln Avenue and Elm Street is intended to be “one of the most significant new buildings on the North Shore,” Trandel said.
The project was the subject of 19 public hearings, Trandel said, and the size has been reduced twice. The initial proposal called for 120 rentals, with commercial space on the street. The plan approved this week has 16 condos, six townhouses and 40 apartments.
Trandel said the first sale contracts will be signed in the next 30 days.
More than 70 potential residents have already taken spots on a reservation list, according to Sherry Molitor, a Berkshire Hathaway HomeServices KoenigRubloff Realty Group agent who is representing the property with Melinda Jakovich of the same firm.
The new homes in the center of town “are a long time coming,” Molitor said. “When you build residential above retail in suburban centers near transit, you allow for a lot of revitalization.” She said the people interested in living there are village residents who are downsizing, newcomers to town and former Winnetkans who had moved away because the downsizing options were slim.
The building is laid out as a roughly triangular grouping surrounding a drive-in motor court, with a second-story rooftop garden on one section and green roofs on the five-story sections. Prices and the sizes of the units have not yet been finalized, according to Linda Bergonia, a spokeswoman for Stonestreet. The number of apartments may turn out to be fewer than 40 if some units get combined, she said.
As part of the development agreement, the site will get two parking lots with a total of 170 spaces to be operated by the village. It’s a net gain of 107 public spaces from what’s on the site now, D’Onofrio said. A third parking garage will serve Winn residents.
Source: Crain’s Chicago Business: http://www.chicagobusiness.com/realestate/20170119/CRED0701/170119843/winnetka-residential-project-gets-village-approval