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14

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SUMMER 2017

SUMMER 2017

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15

DEVELOPMENT & INVESTMENT IN ORLAND PARK

DEVELOPMENT & INVESTMENT IN ORLAND PARK

The next phase of development for the

Main Street area of Downtown Orland

Park was announced at the March 9

State of the Village Address.

At its March 20, 2017 meeting, the

Village Board of Trustees approved a

letter of intent between the village and

the Bradford Real Estate Companies.

Bradford will purchase Main Street

property from the village and construct

an approximately 80,000 square

foot entertainment mixed-use building.

The project includes the construction

of a two story, mixed use building

anchored by a luxury cinema with

Cinépolis being the proposed tenant.

Cinépolis will be the anchor and

will operate an eight screen cinema

with upscale finishes and dine-in-

service along with restaurant and

bar service. The cinema will be

located on the second floor with the

first floor housing specialty retail and

restaurant tenants.

“This will add so much to the flavor

of the downtown area,” said Trustee

Kathy Fenton, chair of the village’s

Development Services Committee.

“People can park in the new parking

garage and walk to their destinations,

watch a movie while eating dinner or

stop in at one of the boutiques.”

Cinépolis is a privately held chain

of movie theaters started in Mexico

with more than 500 locations

worldwide. Headquartered in Texas,

the Cinépolis USA has 16 locations

throughout California, Florida and

the East Coast. The company is

entering the Illinois market with a

cinema in Arlington Heights and now

Orland Park.

Bradford Real Estate developed the

Mariano’s Store across from the

Main Street area. The company

will invest more than $20 million in

the project that will bring in more

than 200 construction jobs and

75 permanent jobs. The direct

economic impact to the village over

the remaining life of the TIF District is

estimated to be $9 million. Tim Blum,

of HSA Commercial Real Estate,

served as the village’s development

consultant and assisted with the

negotiations of the letter of intent.

“We have worked closely with

municipalities on multiple properties

in the Midwest and our repeat ability

to deliver a superior final product

is a credit to our development

expertise, our investment capacity

and capability and our ability to form

strong partnerships,” said Jay Eck,

vice-president of Bradford Real Estate.

Eck noted the company’s successful

development of the Mariano’s in

Orland Park and added, “The

proposed mixed-use Cinépolis

development at Main Street in the

downtown will offer an unrivaled

entertainment, dining and living

experience for visitors and tenants alike.”

First unveiled in 2011, Downtown

Orland Park includes the Main Street

area, the Orland Crossing Mall

across the street, the Old Orland

Historic District and the civic corridor

housing government buildings on

Ravinia Avenue. The Main Street

area is bordered on the west by the

Metra Southwest Service Line making

it a transit oriented development.

The first phase of development in the

Main Street area was Ninety7Fifty

on the Park, a 295-unit luxury

apartment development that is at

96 percent capacity. In December

2016, the University of Chicago

Medical Center opened its four

story, 120,000 square foot multi-

specialty medical building at the

northwest corner of 143rd Street and

LaGrange Road.

The Downtown Main Street Parking

Structure, which opened in October,

2016, is a multi-level public parking

facility at the northwest corner of

143rd Street and Ravinia Avenue.

This building offers more than 520

parking spaces and an additional

12,000 square feet of commercial

space with the potential for

outdoor seating. The village is also

constructing new public streets in the

area that will include streetscape

features and offer safe connections to

link existing and future development.

“This will add so much to the flavor of the

downtown area. People can park in the

new parking garage and walk to their

destinations, watch a movie while eating

dinner or stop in at one of the boutiques.”

Trustee Kathy Fenton, Development Services,

Planning & Engineering Committee Chair

Movie Theaters