Big Apartment Complex Eyed In Burr Ridge

BURR RIDGE, IL – The owner of the old TCF Bank property in Burr Ridge is considering proposals for 400 to 500 apartments on the site, a village official says.

On Thursday, Burr Ridge released the minutes from last month's Economic Development Committee meeting, when the property was discussed.

At the meeting, Village Trustee Tony Schiappa updated members on the progress of selling the TCF Bank property, which is next to the Village Center and County Line Square.

The property at 800 Burr Ridge Parkway includes a five-story building and has been vacant for the last few years.

The village has let the owner know that it is open to housing on a part of the property, but not all of it, Schiappa said. Also, he said, the village doesn't want much density.

He said he had heard the owner has a signed deal on the contingency that greater density is approved and zoning is changed.

Any proposal must be presented to the village's Plan Commission, which would make a recommendation. The Village Board would have the final say.

At the meeting, Schiappa asked another member, Ramzi Hassan, the Village Center's owner, how he would develop the TCF property. Hassan said he would go with a mixed-use development with a residential component.

Members said the developer of the TCF property would probably go before the Plan Commission a few times before it gets a proposal approved. It's a process that could last years, they said.

Last fall, 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."