112 Condos Planned On Burr Ridge Site

BURR RIDGE, IL – A real estate broker is marketing the TCF Bank property in Burr Ridge to developers as a site for 112 "luxury" condos.

Last month, the village posted online the marketing flyer from AlphaTerra Realty Capital, which lists a Deerfield house as its address. No application for a development has been submitted to the village.

The flyer proposes three stories over parking, with the complex taking up about four acres. The entire TCF site is 13.5 acres, according to the village.

AlphaTerra said in the flyer that the "luxury condo" concept "aligns with the underlying zoning and public discussions."

The flyer advertises the site as being close to shopping and both existing and planned restaurants.

The document lists Peter Tremulis as AlphaTerra's managing member. He said his role is as a real estate broker, not a developer.

"Once we have a company that wants to buy the property, the company will go through the process with the municipality," he said in a phone interview.

Now, a five-story vacant building sits on the site. Vacant for the last few years, the structure is at 800 Burr Ridge Parkway, near the Village Center.

In 2020, Mayor Gary Grasso warned the village may declare a "moratorium" on the TCF site. He said the purpose was to get the owner's attention and "red-flag it to get it developed."

In 2022, the village said a developer wanted 400 to 500 apartments on the property. At one point, Grasso said most of the proposals for the site were for apartments. The densities were "unbelievable" and the configurations were "unacceptable," he said.