College Park of Bannockburn, Dolan Associates` 35-acre office campus adjacent to Trinity College, is underway, following a ground-breaking in which mortar boards-symbolic of the former Trinity College land-were exchanged for hard hats.
College Park is a public/private enterprise worked out by the Village of Bannockburn, Trinity College and Dolan Associates.
Harry L. Dolan, president of the development company, said that when fully developed, College Park will be valued at more than $50 million and will generate more than $750,000 annually in real estate taxes.
The company is planning construction of one or more office buildings to begin in 1988. Site work has begun and is expected to be completed by mid-winter. Streets, traffic signals, sewer and water lines are scheduled to be in place by June 1, 1988.
As part of the overall site plans, the Village of Bannockburn will create a 17-acre park with a five-acre lake immediately south of College Park. Just east of the new development, Trinity College/Trinity Evangelical Divinity School has 120 acres of open campus for undergraduate and graduate students. The north end of the project is anchored by the College Park Athletic Club
(formerly named ”Courts on 22”) and Dolan`s Bannockburn Executive Plaza office building.
Dolan, who may sell up to 15 acres of the zoned, infrastructure-improved property to a single corporate user, plans to develop speculative office buildings on the remaining acreage, starting with a 125,000-square-foot, three-story structure.
In addition to Bannockburn Executive Plaza, where Dolan has his headquarters, and College Park, the company is developing Green Oaks Corporate Center, a 38-acre office park at the interchange of I-90 and Ill. Hwy. 176;
and Lincolnshire Business Center, a 93-acre office park west of Milwaukee Avenue and Ill. Hwy. 22.
