Barrington picks developer for Hough-Main corner
A developer partnership responsible for the movie theater block on Church Street in downtown Evanston has been chosen by Barrington officials to develop a 2.7-acre site of downtown Barrington between village hall and the Catlow Theatre.
The limited liability company whose principal partners are Arthur Hill and Co. and Envision Realty Advisors, both of Evanston, was given the go-ahead by Barrington trustees Monday night to begin soliciting tenants for the as yet undefined commercial development on the southwest corner of Hough Street (Route 59) and Main Street (Lake-Cook Road).
As the project lies in an 11-year-old tax increment finance district, where taxes above a certain level is funneled back into the development rather than local governments, it’s eligible for TIF funding of any public improvements it entails for the next 12 years — including up to $70,000 during this early marketing phase.
Though the developers would own the buildings they construct on the site, the land and parking areas will continue to belong to the village, Barrington Economic Development Director Peg Blanchard said.
The site has been on the market for redevelopment for the past five years, but the village began intensively interviewing four interested parties only last summer.
The Evanston-based partnership recently rose above the others as the one the village was most interested in working with, Blanchard said.
“They came in with a vision at a scale that we felt in the current market was attainable,” she said. “As the market is starting to turn, this is a prime spot in the heart of our downtown.”
The tenants the developers identify are expected to shape the general concept of the project, which has a Jan. 23 deadline to reach the village board, Barrington special counsel Mark Gershon said.
The village recently demolished two of the buildings on the site — the former Chase Bank at 120 S. Hough and the former Chuck Hines at 141 W. Main.
The two remaining buildings — former houses long ago converted to commercial use — will be demolished in the spring.
Barrington Hills-based Langos Corp. was awarded the entire demolition contract for $139,485.
The site will remain a gravel parking lot until construction begins, which the village strongly hopes is next year.