Construction Could Start This Spring on 84 New Townhouses in Grayslake Subdivision

GRAYSLAKE, IL - A developer will move forward with completing a long-stalled townhouse project in Grayslake after the village council voted in favor of an agreement to allow the constructoin of 84 new townhome units in the Lake Street Square subdivision, according to the Daily Herald.

Cal Atlantic Homes plans to construct the townhomes on vacant lots on the west end of the subdivision, which is located west of Lake Street near the Lake Street Metra station, Assistant to the Village Manager Kevin Timony said in an e-mail. The implementation agreement approved by the village council confirms various items from the original development agreement, which was implemented in 2003, relating to infrastructure improvements, buildings codes and landscaping, Timony said.

Construction could start this spring, Timony said.

>>> Grayslake Village Council to Vote on New Townhomes in Lake Street Square Subdivision

The project was first started by Neumann Homes about 13 years ago but the Lake Street Square project wound up in court receivership after Neumann filed for bankruptcy in federal court in 2007, according to the Daily Herald. Grayslake Mayor Rhett Taylor told the newspaper that completing the project would improve overall property values.

"Now, the people who made that purchase, they're going to be in a townhouse community that's now finished, it's been completed and it's intact now and completes that part of the vision for the area," Taylor told the Daily Herald.

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