Itasca, Ill.—Hamilton Lakes Business Park, which already includes more than 3-million square feet of office space, restaurants and two hotels, is now getting its first residential community thanks to a joint venture formed byM&R Development. The luxury and high-end apartment developer has enlisted the help of local firm Hamilton Partners and equity partner Murphy O’Brien to develop a 297-unit luxury community right next to the business park, named The Residences at Hamilton Lakes.
“Itasca has always been a beautiful place to live and work and its convenient to downtown Chicago. The Hamilton Lakes Business Park is special with its iconic architecture and park-like topography while the location provides quick access to area expressways, some of which didn’t exist even a few years ago,” Tony Rossi, Sr., president of M&R Development, told MHN. “The new IL Rte. 390, created as part of the $3.4 billion Elgin O’Hare Western Access Project, is adjacent to the community and will increase accessibility to nearby O’Hare airport.”
Construction on the community is slated to begin this spring and should be completed by 2017. The 10.7-acre project will include three four-story buildings bordered by Prospect Avenue. Arlington Heights Road and Thorndale Avenue.