Because most of the city is developed, it was always thought that the next–and most likely last–big development proposed in Oakbrook Terrace will be on the mostly unbuilt, 80-acre Butterfield Road property owned by jailed developer Robert Krilich.
Development plans remain stalled at that site, but they’re pending on a 17-acre tract south of the Krilich property. The City Council held a public hearing Tuesday night on Lincoln Property Co.’s plans to flank its 16-story office building just west of the corner of Butterfield Road and Renaissance Boulevard with two 12-story office buildings, a six-story office building, and a seven-story office building.
“This is a chance to make an impact on the city,” said Ald. Tom Mazaika. “In the future, we may have a developer who favors even more buildings.”
The council also indicated it is considering the creation of a tax increment financing district for the development.
