A mixed-use development with 55 townhouses and 35,000 square feet of restaurants and other stores could be coming to a struggling property in Wheeling.
The village board gave early approval Monday to Dunhurst Plaza in the 900 block of West Dundee Road, near the intersection of Dundee and Elmhurst roads. Wingspan Development Group is proposing redevelopment of the 11.5-acre site.
Sunrise Indian Supermarket is the only business operating at the site. The remaining portion of the building it occupies is vacant, and I.F. Furniture Gallery previously occupied a second building. The two buildings are a combined 60,000 square feet.
Developers want to bulldoze those two structures to make way for townhouses on the southern part of the property and three commercial buildings along Dundee Road. The two-bedroom townhouses would be about 1,800 square feet each and include two-car garages.
Meanwhile, the commercial portion of the property would have two 16,000-square-foot buildings and a 3,750-square-foot building, each with a drive-through and space for retail shops or fast-casual restaurants.
"We think it's a very interesting opportunity," said Chris Coleman of Wingspan Development Group. "It's not without challenge, but we think it can be much improved over what it is today."
The village board also signaled it may provide financial incentives for the development, though no agreement has been reached.
Soil on the unoccupied western part of the property will need to be replaced with more compact material to build upon. That could require funds from the tax increment financing district.
In a TIF district, increased tax revenues generated by new development are diverted to a fund used to pay for improvements within the area. Throughout the 23-year life of the TIF district, other taxing bodies such as schools and park districts continue receiving tax revenues equal only to what they received when the TIF was created.
The property is within the Town Center II district.
About two years ago, a developer wanted to build a 150-unit apartment complex for senior housing at the site, but the village board blocked that proposal over its density. The village also once considered building a fire station on the western part of the property.
If the project completes the village's approval process, the developer wants to complete it in summer 2019.
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Chris Coleman, VP of Development at Wingspan, periodically shares his thoughts and observations on property development news.