Holladay Properties is getting ready for a groundbreaking event at its 5100 Forest Avenue property in Downers Grove, Illinois. The event will take place in October and will be the culmination of more than three years of planning and strategizing. We thought now would be a great time to share the story of this project with everyone!
1895 – Illinois Lumber Co.
1970s – 2005
From the 1970s until 2005, the site housed a bank building, though it changed brands many times. In 2005, TCF Bank closed its doors and eventually foreclosed on the property.
In 2013, Holladay Properties purchased the building, which had been vacant for 8 years and started planning how to redevelop and re-purpose the existing building.
Holladay also researched hospitality uses for the site.
Holladay begins to actively work towards demolishing the existing facility and converting the site to house a single-building multi-family complex. The name Burlington Station is chosen for the 89-unit facility.
We’re ready to begin the next stage in the life-cycle of this facility and look forward to working with the Village of Downers Grove to bring new life the 5100 Forest Avenue and attract young people who might become long-term residents of the suburb.