Construction Starts on New Chase Bank

Crews from Chicago-based Van Pelt Construction on Friday began preparing the foundation for a new JPMorgan Chase Bank that will be on the southeast corner of 95^th Street and Kedzie Avenue.

In March, that after more than two years of being vacant, a portion of the 2,000 square feet lot had been sold to a development company, who planned to build the bank at the site.

Lori Cotter, a representative from the Village of Evergreen Park Permit Department, said “Yesterday [Thursday] they picked up the site grading permit, so they’re preparing the lot for the building of the new bank.”

Cotter said the next phase will be for the company to pick up the building permit, which she expects them to do in the next week.

“I’d say they’ll be going full-strong within 60 days,” said Sexton.

The lot was previously the home of Panos liquor store and bar that closed its doors after 50 years in the community because of economic woes, and a Currency Exchange, that moved across the street after the building was demolished.

Owned and controlled by First Equity Group, the property had been under the real estate supervision of Oakbrook Terrace-based Mid-America Real Estate Group, a developer that leases property to commercial retailers, since September 2010.

Village trustees to use the alley that's located right next to the lot.

Sexton said there’s still no word on what would occupy the rest of the lot, however, developers are working on plans to fill the space.

According to him, developers from First Equity Group are attending a retail convention in Las Vegas next week to scout potential retailers that could fill the remaining space.

“They’re going to work on some people there,” said Sexton. “When they get back we might know a little more.”