Lake and Forest garage, development update set for Monday’s Village Board meeting

An artist's rendering, circa 2011, of the development planned for the intersection of Lake Street and Forest Avenue in Oak Park.
An artist's rendering, circa 2011, of the development planned for the intersection of Lake Street and Forest Avenue in Oak Park.

The Oak Park Village Board meets tonight, July 7, at 7 p.m., and kicking off the meeting will be a report from Village Manager Cara Pavlicek about the Lake & Forest Garage update, along with an update on the Lake & Forest development project.

In case you’ve missed the recent coverage of the long-stalled $86 million development, here’s some Oak Leaves articles on the subject:

[May 9] Oak Park Village Board gives Lake and Forest developers another extension:

The Village Board voted unanimously on May 5 to give Wood Partners of Atlanta and Golub and Company of Chicago until Aug. 15 to confirm financing for the project, until Aug. 29 to close on the sale of the land and until Sept. 30 to begin construction.

[April 8] Lake and Forest developer secures financing for $86 million project in Oak Park:

Plans to break ground will be formalized as soon as developers Golub and Company of Chicago and Wood Partners of Atlanta secure title to the property, on the northeast corner of Lake and Forest, village officials said.

[April 7] Lake and Forest update at Oak Park Village Board meeting:

The Lake and Forest project has until May 15 to begin construction on the development that will include 270 apartments, 25,000 square feet of commercial space and a 588-space parking facility. Under the current agreement the overall project must be done by Nov. 30, 2015.

[Feb. 5] Lake & Forest developer close to getting backing for Oak Park project:

Although the group missed an oral deadline to obtain the equity financing by Jan. 15, Oak Park officials are satisfied the developers are making sufficient progress, Village President Anan Abu-Taleb said.

For more details on tonight’s update, here’s a copy of the presentation about the Lake & Forest garage update, including the closure date of Aug. 4:

Lake and Forest garage update:

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