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Lynwood Plaza
Green Lake Development
South Suburban Tax Reactivation Project (SSTRP)
 
 

 

Project: Lynwood Plaza

Location: 20431 South Torrence Avenue, Lynwood, Illinois.
At the northeast corner of Glenwood-Dyer Road and Torrence Avenue.

Challenge: Heavily contaminated corner gas station. The seller had removed a total of six underground storage tanks (UST’s) in 1993 but contaminated soils remained and total cleanup costs were unknown. Prospective buyers had expressed interest but did not move forward as the seller wanted to sell property “as-is” along with environmental liabilities.

Solution: Kingfisher signed a two-year option with the site’s private owners and secured an IEPA Brownfield Grant to assess and quantify the environmental cleanup costs. The grant is used as an economic development tool to facilitate brownfield development in municipalities. Kingfisher agreed to reimburse the Village of Lynwood a portion of the grant over a pro-rated period once the property is redeveloped and generating income. Kingfisher is actively marketing the site to potential tenants for a build-to-suit commercial development of the property.

Download the complete project specification sheet and rendered elevation.
For more information, please e-mail us at pgoodman@kggp.com.



 
Kingfisher Group
218 North Jefferson Street, Suite 300
Chicago, Illinois 60601
tel 312-756-1108
fax 866-421-3064
email pgoodman@kggp.com