Another New Apartment Complex Planned for Glen Ellyn Apartments: Buildings So Far in Plans Exceed Height Limits

Daily Herald (Arlington Heights, IL), February 13, 2019 | Go to article overview

Another New Apartment Complex Planned for Glen Ellyn Apartments: Buildings So Far in Plans Exceed Height Limits


Byline: Katlyn Smith ksmith@dailyherald.com

Glen Ellyn village planners are starting a formal review of a proposed four-story apartment complex near the public library.

More than a year after unveiling the project at a pre-application meeting with village officials, Chicago-based REVA Development Partners has officially submitted plans for Avere on Duane, a 48-unit apartment building on a site bounded by the south side of Duane Street, Prospect Avenue to the east and Melrose Avenue to the west.

"Glen Ellyn is just an outstanding community," said Matthew Nix, a REVA principal. "But what we found in similar affluent communities with great downtowns is a lot of folks, empty nesters, are interested in downsizing but staying in the community, so the building that we're building is really targeting those folks."

Nix said the project would be marketed to empty nesters who want the flexibility of rental units and the proximity to the library, train station, Prairie Path and other downtown amenities. Nix called Avere a "boutique building" with "condo-quality" finishes and underground parking.

"We're really responding to this shifting trend that we're finding that the aging baby boomers are really looking to downsize but everyone's not flocking to downtown Chicago," Nix said. "They like the

well-established communities with nice downtowns like Glen Ellyn. That sort of segment really hasn't been served other than condo developments 10 years ago."

Another major apartment complex is moving closer to reality amid pushback from opponents who say the five-story building is too tall for a key gateway into downtown.

But the Avere project would redevelop a full block of Duane Street on the outskirts of the central business district.

Developers plan to seek tax increment financing dollars -- where property taxes above a certain level are funneled into redevelopment of an area rather than to local governments -- to help fill a funding gap.

The project represents a roughly $18 million to $20 million investment, according to initial estimates. …

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