Paragon Real Estate redeveloped the southwest corner of York Road and Industrial drive in Elmhurst, Illinois. The retail center is anchored by a 37,000 square foot LA Fitness and also consists of an 8,000 square foot retail center on the hard corner anchored by Starbucks with a drive-through.
Paragon worked with the City of Elmhurst to rezone the property and obtain the necessary entitlements. Paragon also worked with the City to secure $500,000 in tax increment financing to offset the costs fo the extensive remediation and demolition of the former hotel property originally on the site. The 4.8 acre project will revitalize this section of Elmhurst that has long been an industrial area. The total project cost is approximately $15.4M.
