Developer Derby

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February 13, 2008
DAVID ROEDER droeder@suntimes.com

DEVELOPER DERBY: Morningside Group has edged out Gammonley Group to be selected by city leaders in Elmhurst as their preferred developer for mostly empty property just north of the community’s downtown. Elmhurst agreed to negotiate with Morningside the terms of a development for what is called the Hahn Street property. It’s bounded by York, Hahn, North and Addison.

General terms call for a four-story development that will include 82 condos, seven townhomes and about 20,000 square feet of storefronts. The land has been valued at $10 million, but the city owns it and now must negotiate the sale.