THE JOURNAL & TOPICS NEWSPAPERS | WEDNESDAY, APRIL 23, 2008

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New Development OK'd At Wolf, Euclid

BY RICHARD MAYER

Journal Reporter

A new two-story, 25,000 sq. ft. commercial/retail center in Mt. Prospect has been approved and is expected to occupy the northeast corner of Wolf Road and Euclid Avenue in approximately 12 months creating around 100 new jobs, according to Real Estate Development and Management Terraco, Inc., Chief Executive Officer Scott Gendell.

The village board reviewed Terraco's proposal to construct the commercial development most recently at the village's Dec. 18, 2007 meeting.

However, the matter was deferred for several months to provide Terraco reps time to "satisfy" the Northwest Water Commission's (NWC) concerns relating to construction over their 48-inch water main located on the property.

According to village officials, Terraco representatives reached a verbal agreement with NWC regarding their easement rights through the property and revised the building elevations in response to concerns from Evanston Northwest Healthcasre Medical Group, one of the center's primary proposed tenants.

ENH is expected to occupy the entire 11,000 sq. ft. of second floor space for office use.

Additionally, Starbucks is expected to occupy approximately 1,700 sq. ft. of space. However, contracts for Starbucks have not been signed as of yet, Gendell said.

Gendell said the remaining space will be used for multi-tenant purposes, consisting of retail and possible restaurants.

"This is a wonderful area and that is why we chose that

location to construct this development," said Gendell. "

"Additionally, it's a great community and close to transportation. It's everything we look for in a development."

Gendell mentioned that building permits are expected to be issued by the first week of June, with breaking ground following shortly thereafter.