Front Street Lofts in the News

Marquette Companies and Village of Lemont Break Ground
on Town Building Project to Revitalize Downtown Lemont

Marquette Companies and the Village of Lemont held a groundbreaking ceremony on October 6 for the Lemont Downtown Redevelopment District, one of the first comprehensive 'town building' projects in Illinois. The public/private partnership is developing the $250 million mixed-use project that includes retail, residential and office development, as well as tourist attractions along the historic I&M Canal.

"Our vision is to catalyze economic development in downtown Lemont while preserving its historic structures, heritage and character," said Bruno Bottarelli, managing director of Marquette Companies. "Lemont's new downtown will be a place where people live, work, shop and play. Across the country, there's a growing demand for a walkable urban lifestyle, even in the suburbs. Lemont is now at the forefront of this trend in the Chicago area."

"We're thrilled to see the downtown redevelopment becoming a reality," said John Piazza, mayor of the Village of Lemont. "While Marquette Companies has begun work on the new retail and residential offerings, the Village is also busy with numerous infrastructure improvements, such as new roads, utilities and streetscape enhancements."

The redevelopment will be achieved through a special town building approach envisioned by Marquette Companies and the Village. In town building, development is governed by designated zoning codes that create a vibrant, compact, pedestrian-friendly downtown area, which, in turn, fuels economic growth.

The project is one of the state's first comprehensive town building endeavors that calls for the creation of a downtown district through the use of form-based code. By definition, form-based code governs the form (look, mass and scale) of structures instead of their use. Rather than designating real estate for specific uses, property development is governed by controlling the quality of public space such as streets, pedestrian ways, parks and plazas, established by buildings and structures fit to proper scale and form.

"For Lemont, buildings must have first-floor retail space, parking must be located behind buildings, and storefronts must come up to the sidewalk without interruption by parking lots," said Bottarelli. "These guidelines help ensure the most comfortable environment for shoppers and pedestrians. Also, certain materials that reinforce the local vernacular must be incorporated into the construction, such as Lemont yellow limestone and brick, to preserve the town's character."

Lemont, which is located less than 30 miles southwest of Chicago and offers a Metra train station in its downtown area, has a colorful history dating back to the 1830s when the town played a key role in the construction of the Illinois and Michigan Canal (I&M Canal). At one point, Lemont's population nearly surpassed that of Chicago. However, as commerce moved to the larger Sanitary & Shipping Canal, downtown Lemont faded.

Meanwhile, suburban residential development in the area boomed during the latter half of the 20th century, providing 39,000 predominantly affluent households within a 5-mile radius of the downtown with few options to shop, dine or gather for entertainment.

As a result, there is a renewed need for a walkable village center that offers opportunities for Lemont residents to work, be entertained, shop and dine close to home, said Bottarelli.

"Lemont is losing consumer spending and tax revenue to retail centers in Oak Brook, Naperville, and Orland Park. A village center in Lemont will serve as a local option for the 218,000 households within a 10-mile radius, and will help Lemont capture a larger share of the annual retail spending among area residents that currently is siphoned off to surrounding suburban communities," said Bottarelli.

The retail portion of the development will be designed as a 'mall without walls,' where the entire downtown is a composite of inter-related merchants guided by common operating standards similar to enclosed shopping centers, said Bottarelli.

"And, Lemont's Downtown Redevelopment Plan is unique in that it features retail venues fronting a central Canal Walk Park, which serves as the central amenity attraction for the new downtown. You won't find this type of venue anywhere else in the Chicago suburban area," he said.

In terms of residential development, the revitalized downtown area will appeal to a variety of homebuyers, including Echo Boomers who want a city environment close to their suburban workplaces and Baby Boomers who want maintenance-free living and an entertainment-focused lifestyle, said Nick Ryan, managing director of Marquette Companies.

The Lemont Downtown Redevelopment District consists of three pedestrian-friendly sections, each with a distinct identity: the Historic District, Transit Depot District and Fry's Landing District. Marquette has begun development on Fry's Landing District. The first of four phases in the district is called The Front Street Lofts. It has four buildings with 82 studio, one-, two- or three-bedroom loft residences, 24,000 square feet of retail space and a 260-car parking structure. Homes are base-priced from the $180,000s to the upper $400,000s, with first move-ins expected fall 2007.

Future phases of the Lemont Downtown Redevelopment District will include an arts-based community center, as well as an extensive linear public park and Canal Walk along the I&M Canal, featuring a replica 1800s barge that will serve as a museum/restaurant venue and landscaped walking and bicycle paths.

Marquette Companies and the Village assembled a team of leading town building experts from across the country to design and implement the plan, including Chicago-based architects Sullivan, Goulette & Wilson; Coral Gables, Fla.-based town planners Dover, Kohl & Partners; the Chicago office of engineers URS Corporation; and Clarkston, Mich.-based retail planners and urban designers J Eppink Partners Inc. Waukegan-Ill.-based Pickus Construction is the construction manager and general contractor for The Front Street Lofts.

To reach the Lemont Information Center, take Interstate 55 south to exit 271A/South Lemont Road. (Lemont Road becomes State Street.) Turn left onto Illinois Street, then turn left onto Stephen Street. The sales center is located at 102 Stephen Street. For more information, visit www.lemontlofts.com or call (630) 243-6162.

Marquette Companies is a Chicago-based real estate consortium engaged in the acquisition, management and development of specialized real estate assets. Since 1983, Marquette Companies has managed and developed more than 25,000 multi-family homes throughout the Midwest, while perfecting a brand of "advanced management" that has gained national recognition. The company's gross annual revenues total approximately $84 million.