November 26, 2012
Developers plan 416 apartments in Northbrook
A joint venture between Chicago-based Morningside Group and Schaumburg-based Crossroads Development Partners LLC plans to build 416 high-end apartments and 107,000 square feet of retail space at the northwest corner of Dundee Road and Skokie Boulevard in Northbrook, according to preliminary plans presented to the Northbrook village board. Dubbed Northshore 770, the 10-story mixed-use project would include a Mariano’s Fresh Market. The venture recently signed a contract to buy the 14-acre site from an affiliate of Plano, Texas-based Beal Bank, which repossessed the property last year from a group led by developer Edward Renko . “There’s been very little new construction of multifamily rental in the past 20 years and it’s an affluent market that would lend itself to the type of luxury product that we’ll be creating,” said Morningside President and Managing Principal David M. Strosberg. The developers expect to present their proposal to the Northbrook Plan Commission as soon as January, Mr. Strosberg said. They hope to break ground in 2014.
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