Lombard Apartments For Rent

Developers could break ground on at least three multifamily housing complexes this year in and around Lombard, village officials say.

Bill Heniff, director of community development, said numerous apartment ideas have been brought to the village in recent months -- including the possibility of a 120-unit building being constructed on the site of the old DuPage Theatre -- but only three have completed, or are close to completing, the entitlement process.

If those three projects are built, Lombard will be home to 547 new rental units and 100 new townhouse units.

A market analysis of the village recently completed by Tracy Cross & Associates shows significant demand for more apartments in the Lombard area.

Some factors driving that demand include an increasing number of young professionals who relocate to the area for a year or two at the start of their career. They need somewhere to live that is close to work but don't necessarily want to invest in a house.

The firm noted that the number of renters age 45 and older is growing, too, as residents want to downsize and live somewhere that requires less maintenance.

Heniff said the last time an apartment building was constructed in Lombard was in 2001. That complex, City View at the Highlands, is at 2720 S. Highland Ave.

On Thursday, the village board will discuss granting a conditional use for the Highlands of Lombard -- a development that, if approved, will be built on a long-vacant lot just south of City View, at 2740 S. Highland Ave. The proposal is for a five-story building with 181 units, including studios and one- and two-bedroom units.

Heniff said it has been difficult to find someone interested in developing the land because it is tucked behind a cemetery and doesn't have good visibility from Highland Avenue or Butterfield Road.

"The idea is to mirror many of the concepts that were previously constructed for the City View apartments," he said.

Developers are asking for the village board to approve a deviation from a pre-development agreement that requires at least 70 percent of exterior facades be constructed with stone, brick, split-face block or cedar.

Just down the road, there are plans to construct an additional 78 units at the Aimco Yorktown Apartments, 2239 S. Highland Ave. According to village documents, there will be one-, two- and three-bedrooms available in the new seven-story building. Construction likely will begin at the end of this year or early next year, Heniff said.

Yorktown Apartments currently includes three 15-story buildings, six 6-story buildings and five 5-story buildings. A parking deck for the new apartments already has been built.

A third project, called Woodmoor on Finley, has been approved by the county and will be constructed in an unincorporated area near Lombard where Ken-Loch Golf Links was located.

The Woodmoor plans include four, 5-story luxury apartment buildings, each with 72 units for rent, and 18 buildings containing 100 townhouses for sale. Roughly half the apartments will be one-bedroom, with the remaining a mix of mostly two-bedroom and a few three-bedroom units.

"These three projects do suggest there is some demand that's going to be captured in the marketplace," Heniff said, adding that Lombard is appealing because of its geographic position and easy access to arterial roads and public transportation. "It's very convenient for individuals on the go."

Other multifamily housing projects under way in Lombard include a 12-unit apartment building at 1175 S. Finley Road for individuals with disabilities and an 80-unit senior assisted living complex at 300 W. 22nd St. Both projects are under construction and are expected to open later this year.

Source : http://www.dailyherald.com/article/20150330/news/150339854/

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